Internal tax departments are charged with providing tax-planning that minimizes cash outflow while maintaining compliance with all federal, state, local and foreign tax laws. These requirements are not new, but they must be executed in a highly regulated environment and the need to “get it right” has never been greater.
The fall 2013 Bennett Thrasher recruiting season is finally here! This fall there is quite a bit happening with BT campus recruiting. We have a new campus recruiter, we are recruiting on more campuses than in previous years and we have numerous socials lined up. Everyone at BT is looking forward to a busy and rewarding recruiting season.
Bennett Thrasher hosted “Break Through,” our first student conference, on July 11th and 12th of 2013. Students from various universities were invited to the office to participate in two days of networking and learning with the hopes of being better prepared for the fall recruiting season.
As you may be aware, there are significant changes to lease accounting on the horizon. The impact will be significant to companies’ balance sheets and specifically to the franchise community. Companies that have significant operating leases will see the biggest impact, although everyone will feel the effect in some capacity.
Bennett Thrasher is proud to announce that on Sunday, August 11, 2013 our Shareholder Emerita, Lyn Reagan, competed in the sprint distance race at the 2013 USA Triathlon Age Group National Championship.
The August 2013 issue of The Journal of Multistate Taxation and Incentives featured an article authored by Bennett Thrasher’ Peter Stathopoulos’, “State Taxation of Remote Sellers: Has the Physical Presence Nexus Test Been Rendered Obsolete?” In the article, Stathopoulos discusses what will happen should the Marketplace Fairness legislation fail to be enacted.
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) on May 16, 2013 published for public comment a revised Exposure Draft outlining proposed changes to the accounting for leases. The proposal aims to improve the quality and comparability of financial reporting by providing greater transparency about leverage, the assets an organization uses in its operations and the risks to which it is exposed from entering into leasing transactions.
This summer, more Bennett Thrasher associates have been taking the stairs instead of the elevator up to the office. As a part of the Bennett Thrasher wellness initiative, BT associates were given Fitbit Flex Activity and Sleep Trackers, a small pedometer worn around the wrist to track steps taken, calories burned and distance travelled throughout the day. It can also be programmed to track how long and how well you have slept.
On March 13, 2013, in SynQor, Inc. v. Artesyn Technologies, Inc. (2013 U.S. App. LEXIS 5051), the US Court of Appeals for the Federal Circuit affirmed the district court’s summary judgment that the defendants (Artesyn and eight other parties) infringed on plaintiff’s patents related to high-efficiency power converter systems used in large computer systems and telecommunication and data communication equipment.
According to the Association of Certified Fraud Examiners’ (ACFE) 2012 Report to the Nation on Occupational Fraud and Abuse, organizations lose approximately 5% of their annual revenues to fraud. Applied to the 2011 Gross World Product, this amounts to over $3.5 trillion in potential loss due to fraud. On a more personal level, the median loss due to fraud was estimated at $140,000 per occurrence.
Atlanta and the Southeast have seen significant expansion of commercial and residential construction over the past year. These construction projects are a very positive sign that we, as a community, are recovering from the recent recession. This means new jobs, innovation and expansion of businesses into our area.
The Single Audit Act Amendments of 1996 (Single Audit Act) were enacted into law in order to: