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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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An American renaissance November 1 2012 Join us on-site at UHY’s Farmington Hills office or on-line via webcast On-site Program 8:30AM–11:45AM est On-line Webinar 9:00AM–11:45AM est Join us to learn more about the latest industry trends and rebirth of American manufacturing. Topics, speakers and keynote will be announced shortly. CPE credit will be offered.

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Please join us as we convene a panel of experts to discuss inbound investments into the BRIC countries including a general overview of the business climate and economic conditions, opportunities and potential threats of doing business in the country, tax issues and considerations, pitfalls when starting a business in the country, employment considerations, entity structure and tax planning considerations.

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Thursday october 25, 2012 Join us at UHY’s Farmington Hills office 7:00am – 10:30am edt Topics will include industry trends, bonding update and the latest financial and tax developments. Speakers will be announced shortly. CPE credit will be offered.

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An American renaissance November 1, 2012 Join us on-site at UHY’s St. Louis office or on-line via webcast On-site Program 7:30AM–10:45AM CDT On-line Webinar 8:00AM–10:45AM CDT Join us to learn more about the latest industry trends and rebirth of American manufacturing. Topics, speakers and keynote will be announced shortly. CPE credit will be offered.

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Please join blackline Systems and UHY for an exclusive networking breakfast discussing the challenges organizations currently face in creating an efficient and effective record to Report process and how new Finance Governance Technology Tools help address these challenges. We are also pleased to have Henry Wagner, a Senior Manager in the Accounting & Financial Reporting function at Chrysler, discuss how Chrysler has been successful in addressing these challenges.

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The complications and limitations of a national energy policy were aptly illustrated with the recently released Advancing Technology for America's Transportation Future report from the National Petroleum Council, representing two years of work by 300 industry and government participants.

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There is not too much to report for August 2012. Republicans in the House of Representatives continue to push forward bills that reflect their vision of tax reform while the Democrats in the Senate try to advance their own vision, one diametrically opposed to that of the Republicans. And neither side is budging.

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categoryTax
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