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Accounting News Roundup: DCJ on Sketchy Tax Arrangements; SMBs Get Ripped Off; SEC Wants JOBS Comments | 04.16.12

Taxed by the boss: David Cay Johnston [Reuters] DCJ is on the case!

Financial literacy at the core of good small business [HeraldNet] DUH. "It's more than simply pawning the work off on a CPA or bookkeeper," said Will Chen, a certified public accountant in Edmonds. "Business owners need to be aware of the reports that are being generated and also learn to appreciate how they tell the story of the business. Cash flow analysis is critical since cash flows represent the lifeblood of a business. While a good accountant or CPA can coach a business owner to help interpret the data, it is really up to the owner to take the information and make the critical decisions."

SMB's Could Be Getting 'Ripped Off' by Their Accountants. [MW] "Many firms say they are proactive where in actual fact they are not," Rob Nixon said. "They are typically reactive 'history writers' acting as the Government's hand maiden. These guys provide their SMB clients with the bare minimum – compliance services."

Stop complaining and find a job [Greenville Online] One CPA in Greenville is now out $10.

CPA’s claim crashes, owes body shop’s payroll taxes [Business Management Daily] It's safe to say the IRS doesn't appreciate being considered an unsecured creditor.

Regulator Seeks Feedback on JOBS Act [DealBook] “Members of the public interested in making their views known on these matters, even before official comment periods may be opened, are invited to submit those views,” the agency said in a statement. Traditionally, a hodgepodge of corporations, financial institutions, members of Congress and consumer advocates provide feedback on the S.E.C.’s rule-making proposals.

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