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As we get closer to January 1, 2013 and the looming "Fiscal Cliff", Congress and President Obama are stepping up their negotiations in an attempt to reach some sort of agreement. As of the date of this article, there is still no agreement. However, Congress has already decided to work through the week of December 17 in an effort to hammer out an agreement on the pressing tax and spending issues.

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 UHY Advisors’ Managing Director Frank Fenello was recently interviewed by Rob Stadler on Star94 in Atlanta, and provided some clarity about the realities of the fiscal cliff and what it could mean for individuals and businesses in the near future.

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categoryTax

Managing Director Frank Fenello’s interview on the implications of the Fiscal Cliff on WSB radio in Atlanta.

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UHY LLP, a leading certified public accounting firm, is hosting its annual Tax forum at the MSU Management Education Center in Troy on Wednesday, December 5. This complimentary half-day program addresses the latest tax laws, trends and developments impacting both individuals and businesses. CPE credit will be offered.

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 UHY LLP, a leading certified public accounting firm, is hosting its annual Accounting & Regulatory Update at the MSU Management Education Center in Troy on Wednesday, December 5. This complimentary full-day program is geared towards CFO’s, audit committee members and chairs, to learn more about the latest accounting, regulatory, legal and SEC updates. CPE credit will be offered, including an hour of ethics.

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President Obama's re-election signals the likelihood of up-coming difficult negotiations between Democrats and Republicans over (1) the fate of the Bush-era tax cuts, (2) nearly $100 billion in automatic spending cuts for the Government's fiscal year beginning October 1, 2013, and (3) whether a long list of recently enacted, but now expiring tax benefits and exclusions, including the AMT patch for 2012 and beyond, will be extended again. 

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 UHY, the international accounting and consultancy network, of which our firm UHY LLP has been a member since 2001, has launched a radical update of their international branding and online presence, to ensure that it is instantly recognizable to clients and business partners wherever they are in the world.

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With Congress only now coming back in the week of September 10, 2012 from its traditional August recess, there is not too much to report for September 2012. Consequently, with the 2012 Presidential election almost here, it seems appropriate to compare and contrast in general terms the tax policies being advanced by President Obama and former Governor Romney. It is likely that the policies being advanced now by the winner of the November 6, 2012 election will impact not only 2013, but also 2014 and beyond.

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It is usually a good idea for a company to save money for a rainy day. Unfortunately, business owners can run into serious tax trouble if their corporations sock away too much cash. The tax trouble comes from the Accumulated Earnings Tax which is a tax on corporations buried in a little noticed Subchapter of the Internal Revenue Code. Although many businesses have tended to ignore this tax, the IRS is fully aware of it and is not shy about trying to impose it whenever it feels that "excessive" funds are being accumulated by a corporation. In fact, over the past few years, the IRS appears to be increasing its assertions of accumulated earnings issues in conducting corporate income tax audits.

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UHY Advisors, a full‐service national tax and consulting firm, will host an exclusive networking breakfast along with BlackLine Systems from 8:00 a.m. to 10:30 a.m. on Wednesday, September 26 in their Farmington Hills office training facility. The event will feature multiple speakers to discuss the challenges organizations currently face in creating an efficient and effective record to report process and how new Finance Governance Technology (FGT) tools help address these challenges.

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