Please ensure Javascript is enabled for purposes of website accessibility

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]
FYI.

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.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]