Most Clicked CPA Letter Daily Stories

1. 4 questions that could eliminate the performance review

CPA Letter Daily | Mar 26, 2015

Instead of giving employees performance reviews, companies should ask managers to regularly answer four questions about each member of their team, Deloitte says. The questions address whether an employee deserves a raise or promotion, and whether an employee is at risk of performance issues. Washington Post (tiered subscription model), The (03/17) Harvard Business Review (tiered subscription model) (4/2015)

2. How quickly should you spend retirement funds?

CPA Letter Daily | Mar 27, 2015

Most Americans know they need to save during their working years, but it can be harder to determine how quickly to spend that money once they enter retirement. The issue can be complicated by potential cognitive decline and lack of clarity around how long retirement funds need to last. Advisers used to talk about a 4% rule for tapping into retirement funds, but that rule may no longer be sufficient. CNBC (03/26)

3. Fed's Yellen warns of economic stagnation

CPA Letter Daily | Mar 30, 2015

Janet Yellen, chair of the Federal Reserve, warned that several studies suggest the U.S. and other countries will grow more slowly than in the past due to declining technological innovation and demographic forces. CNBC (03/29)

4. FASB moves toward simplification in 2 areas

CPA Letter Daily | Mar 25, 2015

The Financial Accounting Standards Board is expected to release proposals designed to simplify the equity method of accounting and the accounting for measurement period adjustments in a business combination. Journal of Accountancy online (03/24)

5. Tactics for getting clients to file on time

CPA Letter Daily | Mar 26, 2015

CPAs employ a range of carrot-and-stick tactics to get clients to hand in their tax paperwork well ahead of April 15. These include providing discounts for early filers, increasing fees for those who drag their feet and explaining the penalties that late filers may face. Bloomberg (03/25)

6. When can federal income taxes be discharged in bankruptcy?

CPA Letter Daily | Mar 25, 2015

While a bankrupt individual's tax debts can be discharged in a bankruptcy proceeding, the taxpayer must have filed a tax return in order for that to happen. A recent 10th Circuit case provides a good reminder of how the process works and what can trip taxpayers up. Tax Adviser, The (03/2015)

7. FASB to hold revenue recognition effective date discussion

CPA Letter Daily | Mar 27, 2015

The Financial Accounting Standards Board is scheduled to hold discussions next week on whether to delay the effective date of the converged revenue recognition standard. Some financial statement preparers have said the current effective date doesn't give them time to gather the data they need. Journal of Accountancy online (03/26)

8. Middle-class families are more disciplined about retirement saving

CPA Letter Daily | Mar 31, 2015

Some middle-class Americans are doing a good job at saving their money, with 35% of households in this group conserving more than 10% of their income. In comparison, only about 1 in 5 higher-income households -- those making at least $75,000 a year -- are reaching this benchmark. Money magazine (03/30)

9. The top factors that make consulting attractive to CFOs

CPA Letter Daily | Mar 31, 2015

More than 80% of CFOs in a U.S. survey find consulting an attractive career option. They say that a flexible schedule and pay are the top reasons, according to a survey by staffing firm Robert Half. Just 13% of CFOs find consulting unattractive. CGMA Magazine online (03/30)

10. House committee approves IRS legislation, passes bill to repeal estate tax

CPA Letter Daily | Mar 26, 2015

Hill, The (03/25)

Sign up for CPA Letter Daily

Designed specifically for CPAs and those who work within the accounting profession, CPA Letter Daily is a FREE daily e-mail newsletter from the AICPA. It is the resource CPAs count on for breaking professional news. Learn more