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Accounting News Roundup: Robama, Round 2; One and Done Millionaires; New FICA Max for 2013 | 10.17.12

Candidates Tangle in Fractious Debate [WSJ]
Mr. Obama took on Mr. Romney's positions on taxes, trade, energy and women's health issues in an attempt to cast him as more conservative than the GOP candidate has suggested in recent days. He also noted the former governor's 14% effective tax rate and, in response to repeated questions from Mr. Romney about whether he had looked at his pension, he said, "I don't look at my pension. It's not as big as yours." While the first debate was a clear win for Mr. Romney, the second was far more mixed. Matthew Latimer, a former speechwriter to George W. Bush, called it "very aggressive on both sides" and said the constant interruptions could turn off some voters, especially the dwindling number of those who remain undecided. "Voters always say they want candidates who don't squabble. And there was a lot of squabbling."

Will popular but costly tax breaks end? [DMWT
Mortgage interest deduction and charitable contributions don't have to worry.
Millionaire Status is Fleeting [Tax Foundation]
"Maybe if you worked a little bit harder."
FICA max rises to $113,700 for 2013 [Tax Update]

Accountant allegedly stole $360K from employer [AP]
A 36-year-old Bossier City accountant is accused of stealing at least $360,000 from the construction company where he worked, allegedly giving much of the money to strippers.

Va. Man Charged with Pointing Gun at School Bus [CBS]
Virginia Beach police say the incident occurred Monday afternoon as students were getting off the bus at a bus stop. The bus driver took the students back to Pembroke Elementary after two reported that a person behind the bus pointed a gun at them. Investigators arrested 18-year-old Joshua P. Dalton and charged him with two misdemeanor counts of brandishing a firearm. Police say the gun incident followed a dispute between Dalton and several students at the bus stop over a rebel flag displayed in his pickup truck.

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