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Footnotes: Down with Itemized Deductions; Auditing God; LinkedIn Wants Adolescence to Be More Awkward | 08.19.13

IMAX — yes, that IMAX — is looking for a Financial Analyst in New York. WHOA. [GCJ] 

The Standard Deduction Undermines Itemized Deductions The standard deduction, then, does not make much sense if you believe itemized deductions are useful, valuable adjustments to the tax base. Why wipe out those effects for two thirds of taxpayers? The standard deduction makes a lot of sense, though, if you believe itemized deductions are arbitrary and confusing. In that case, the standard deduction restores some fairness and reduces paperwork, bringing the tax code more in line with our Principles of Sound Tax Policy – particularly, neutrality and simplicity. [Tax Foundation]

Watchdog: Fannie, Freddie Should Expedite Accounting Changes [WSJ]

Go read Greg Kyte's post on auditing God. You won't regret it. [Certified Public Agnostic]

Raising Kids? Your Taxes Are Far Too High [Bloomberg]

The SEC got a hedge fund manager to admit wrongdoing. [SEC]

LinkedIn Lowers Age Limit to 13, Annihilates Childhood Forevermore [Jezebel]

President Obama is getting anxious to have the remainder of the Dodd-Frank rules implemented. It's only been three years. [The Hill]

The AICPA's fourth annual Accounting Competition started today. [CPA Practice Advisor]

Romanian Princess Arrested In Oregon Cockfighting Ring [Deadspin]

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