Category Archives: Publications

How to manage tax accounting when preparing for an IPO BY DOUGLAS M. SAYUK, CPA, MATTHEW H. FRICKE AND R. DUGGER, ESQ., CPA OCTOBER 2011 After several years of increasing numbers of U.S. companies making initial public stock offerings, starting … Continue reading →

Clifton Douglas Published in Journal of Accountancy San Jose, CA — February 28, 2011 — Clifton Douglas announced today its publication of its article “Act 2 for Business Tax Incentives” in the renowned Journal of Accountancy (March 2011 Issue). The … Continue reading →

Larger companies should be aware there’s something for them, too, in the Small Business Jobs Act of 2010 (PL 111-240). Perhaps because of the name of the law enacted Sept. 27, larger businesses might not be aware of a potentially … Continue reading →

On August 10, 2010, President Obama approved the Education Jobs and Medicaid Assistance Act,2 which helps fund education/Medicaid relief but at the expense of corporations via stricter international tax provisions. This foreign tax reform primarily focuses on the foreign tax … Continue reading →

As the financial crisis on Wall Street has subsided, the Securities and Exchange Commission (SEC) is shifting its focus back to the proposed convergence of generally accepted accounting principles (GAAP) with international financial reporting standards (IFRS). In this article, authors … Continue reading →

The Worker, Homeownership, and Business Assistance Act of 2009, enacted Nov. 6, creates an opportunity for most businesses to elect to carry back either a 2008 or 2009 federal net operating loss for three, four, or five years. While it … Continue reading →

On Dec. 19, 2008, New Jersey repealed the sales ‘‘throwout’’ and ‘‘the regular place of business’’ provisions for privilege periods beginning on or after July 1, 2010. However, on a retroactive basis—and generally until July 1, 2010—all New Jersey taxpayers … Continue reading →

In 2009, private companies are required to adopt Financial Accounting Standards Board Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes. In this article, authors Douglas M. Sayuk, Matthew H. Fricke, and Shamen R. Dugger, of Clifton Douglas … Continue reading →

One of Warren Buffet’s most well-known aphorisms is that “[I]t’s not necessary to do extraordinary things to get extraordinary results.” This tenet is especially apropos with respect to 2009 year-end tax accounting wherein small adjustments could result in significant financial … Continue reading →

With the recent release of a draft ‘‘Schedule UTP,’’ the IRS continues its agenda to require disclosure of uncertain tax positions on federal corporate income tax forms. While the new schedule appears to exclude state-related uncertain tax positions, the question … Continue reading →