Tax Filing Season Underway

The start of the tax season is officially here as people throughout the country are receiving their tax forms. Now the countdown begins before the filing deadline on April 15th. Those who expect money back are sure to be the early filers, while those that owe money might try to put it off until the deadline. Either way, there are many things you should know before filing your taxes this year.
"I like to get it done, get your return back sooner. Of course if you have to pay it would be better to wait, but it's better to do it sooner than later," says Alan Ivan of La Crosse. No matter when you finally decide to do your taxes this year, it's important to make sure you covered all your bases before you file.

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Bookkeeping 'errors' make mockery of FBI's fight against criminals

It's a good thing Eliot Ness didn't have this problem.

According to a summary of an 87-page audit of FBI finances by the Justice Department's inspector general, the FBI has had wiretaps repeatedly cut off by telecommunications companies for failing to pay its phone bills.

More than half of the nearly 1,000 FBI telephone bills reviewed by Inspector General Glenn Fine were not paid on time. That included one bill for $66,000 at a field office. Neither the locations nor the specific cases involved in the wire taps were made public because the information was deemed "too sensitive," according to Mr. Fine.

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Basic Business: Good Record Keeping

Record keeping is considered by many entrepreneurs as one of the "least important" part of operating a business (unless you are an accountant). However, good record keeping is essential to your financial survival. Here is a quick, crash course on basic record keeping.

Everyone in business must keep records. What can good record keeping do for you? I'll give it to in a straight no-glamour content.

Let's Start Now:

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Accounting rules will hit profits

Companies will have to change the way acquisition costs are handled under new accounting rules – a move that will hit profits and could damp the urge for mergers.

Fees charged by investment bankers, lawyers and accountants are currently bundled into the overall cost of a takeover and go on the balance sheet as part of “goodwill” – the accounting catch-all term used to cover the difference between the price paid and the actual value of the assets.

Separating the fees will force companies to book a one-off expense for each deal, denting their net income for that period.

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