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March 2010
McNally Article, "Make Your Move" Published in Construction Today
Pat McNally, Partner in Charge of Blackman's Corporate Finance practice, outlines steps business owners should take now to prepare their business for sale in order to maximize the selling price. The article, Make Your Move, published in the December 2009...
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Recent Developments in State Corporate Income Taxation
From CPA Letter Daily and AICPA.orgThe past year has seen a number of changes in states' taxation of corporate income. This article, in the March 2010 issue of The AICPA's Tax Advisor, takes a state-by-state look at the areas of...
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Reacting to Reform
From CFO.com.For legislators, the long process of reforming the nation's health-care system has finally come to an end. On Thursday Congress passed the reconciliation bill containing the final changes to the landmark Patient Protection and Affordable Care Act, which President...
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Tax Provisions in the Health Reconciliation Act
From Journal of Accountancy.Late Thursday, Congress passed the Health Care and Education Reconciliation Act of 2010 (HR 4872). The bill now goes to the president for his signature. The Reconciliation Act amends various provisions of the Patient Protection and Affordable...
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Technology Considerations for Converting to IFRS
From Journal of Accountancy.Lewis A. Dulitz, vice president of accounting policies and research at Covidien—a $10.7 billion health care products company with 42,000 employees in more than 60 countries—was part of a team that implemented the necessary technology changes in...
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Social Security to See Payout Exceed Pay-In This Year
From The New York Times.The bursting of the real estate bubble and the ensuing recession have hurt jobs, home prices and now Social Security. This year, the system will pay out more in benefits than it receives in payroll taxes,...
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Read Pat McNally's Column in Construction Today, Construction Coach: Cashing in
Partner in Charge of Corporate Finance, Pat McNally, advises business owners to view their business as a "storehouse of value" in the February 25, 2010 issue of Construction Today. Do you think of your business only as the source of...
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Kaufman on Networking Your Way to Success in the Next Decade Panel at the Business Networkers Expo & Social Media Fair
Larry Kaufman, Managing Director of Practice Development, will provide insights and expertise during a panel discussion entitled Networking Your Way to Success in the Next Decade at the Business Networkers Expo & Social Media Fair taking place April 23, 2010 at...
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AICPA Releases Business and Industry Guide to Understanding Internal Control for Smaller Entities
From AICPA news.A new AICPA white paper describes the concept of internal control and the internal control services that smaller entities may hire a CPA practitioner to perform. The guidance is targeted to both audit committee members and financial managers...
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Claiming and Documenting the First-Time Homebuyer Credit
From Journal of Accountancy.Practitioners should be aware of increased documentation procedures for the first-time homebuyer credit and the new administrative powers available to the IRS if a client’s return is selected for review. In addition, required attachments necessitate filing a...
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Lettuce Entertain You Expands Portfolio
From nrn.com.Prolific multiconcept operator Lettuce Entertain You Enterprises opened two Mexican concepts in Las Vegas on Thursday, a week after debuting its latest Chicago restaurant, M Burger.Located at the Fashion Show Mall on the Las Vegas Strip, El Segundo Sol...
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Kaufman Presents Unleashing the Power of LinkedIn to the Association of Chartered Accountants, Chicago Chapter
Larry Kaufman, Managing Director of Practice Development at Blackman Kallick, will share his LinkedIn expertise with the Chicago Chapter of the Association of Chartered Accountants on Thursday, April 8, from 5:30 - 7:30pm. His presentation and live web demo, Unleashing...
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Congress Passes HIRE Act Carrying Hiring Incentives, Stimulus Measures, and New Foreign Account Tax Compliance Rules
From ThomsonReuters/RIA. On March 17, the Senate approved, by a vote of 68-29, H.R. 2847, carrying the Hiring Incentives to Restore Employment (HIRE) Act, as passed by the House. Thus, the HIRE Act is cleared for the President’s signature. The...
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IASB: Single Set of Accounting Rules on Track
From Reuters.com. The world's top accounting bodies are still on track to thrash out a common set of rules by the middle of next year, the International Accounting Standards Board said on Tuesday.The G20 group of countries set the ambitious...
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2010 Food Industry Forum Brings Manufacturers, Processors and Service Providers Together
On Thursday, March 11, more than 80 food manufacturers and processors met at the Hyatt Regency O'Hare for the 2010 Food Industry Forum hosted by Blackman Kallick, Reed Smith and Wells Fargo. Speakers from all three firms shared their expertise...
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McNally Presents "Strategically Planning Your Future" at the 2010 American Mold Builders Association Annual Convention
Pat McNally, Partner in Charge of Blackman's Corporate Finance Consulting practice, presented "Strategically Planning Your Future" at the 2010 AMBA Annual Convention, March 21-25 in Orlando, FL. Below is an excerpt from the convention agenda:"Strategically Planning Your Future"Pat McNally, a...
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Whitlock Quoted in Tax.com Article, IRS Challenges NYSE Executive Compensation
Brian Whitlock, Partner, is quoted in the following excerpt from Tax.com article, IRS Challenges NYSE Executive Compensation."In the for-profit world, all [the IRS] would do is disallow the deduction," said Brian T. Whitlock, a tax partner at Blackman Kallick LLP....
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Blumenthal Discusses the “The Ins and Outs of Selling Your Company” at the Morgan Stanley Smith Barney and Locke Lord Bissell & Liddell M&A Market 2010 conference
Mark Blumenthal, Partner and Chairman of Blackman’s Family Office Services and Co-Chairman of Blackman’s Private Equity/Venture Capital practice was a featured expert on a panel that discussed the issues surrounding the sale of closely held businesses. Mark stressed the importance of...
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CPAs Chime in Regarding Annual Bonus Plan Designs
From AICPA news. The economic crisis has had an effect both on the choice of performance measures in CFO annual bonus plans and on the difficulty of bonus targets. The results of the 2009 CFO Compensation and Incentives Survey, conducted...
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Blackman Sponsors 2010 C4 Miles Run/Walk: Making Strides for Mental Health
Register today for the 2010 C4 Miles Run/Walk: Making Strides for Mental Health, taking place Sunday May 2nd. Blackman is proud to sponsor this event.C4 Miles is one of the very few such races for mental health in Chicagoland. Not...
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Optimism Jumps Among Manufacturing Finance Execs; Partner, Paul Oetter, tells us why
Paul Oetter, Partner in Charge of Blackman Kallick's Manufacturing and Distribution Practice, distills the takeaways from Journal of Accountancy article, Optimism Jumps Among Manufacturing Finance Execs. Results from the Economic Outlook Survey Q1 2010, conducted by the AICPA and the...
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Oetter's Advice to Global Companies: Despite Cautious Optimism in 2010, Stay Focused
Paul Oetter, Partner, highlights lessons for growing international companies from the February 2010 McKinsey Global Survey; Economic Conditions Snapshot. A recent economic survey by McKinsey & Company pointed out two prevailing sentiments regarding prospects for the remainder of 2010:Businesses generally...
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States Move to Revoke Charities’ Tax Exemptions
From nytimes.com.Faced with steep declines in tax revenue, an increasing number of states and localities are considering eliminating various tax exemptions for nonprofit groups.A bill before the Hawaii Legislature, for instance, would require charities to pay a 1 percent tax,...
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Dealmaking Comes Alive
From Forbes.comThe M&A comeback is gaining momentum, giving a boost to stocks of all stripes. Industrials still await their turn.A year ago, even getting a meeting to discuss merger and acquisition opportunities was a tough sell, says Howard Lanser, but...
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IRS Has Extra $1.3 Billion in Unclaimed Refunds
From WebCPA. The Internal Revenue Service said it has unclaimed refunds totaling more than $1.3 billion awaiting nearly 1.4 million people who did not file a federal income tax return for 2006, including over $150,000 in the state of California...
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Su's Article, Tips for Selling Your Business from a Buyer's Perspective, Published in Winter 2010 Issue of The IL Manufacturer
Stella Su, Director of Corporate Finance Consulting, is published in the Winter 2010 issue of The IL Manufacturer. Her article, Tips for Selling Your Business from a Buyer's Perspective, advises all sellers to know the value of their business before...
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The Proper Timing of Workers' Compensation Deductions
From Journal of AccountancyFor companies with more than a de minimis amount in their workers’ compensation reserve, it may be worthwhile to review the details underlying the reserve amount. The reason? These days a significant portion of a workers’ compensation...
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Internal Control: Test Your Knowledge
From Journal of AccountancyToday many companies recognize the desirability as well as the requirement to have an effective system of internal control. Yet, designing and implementing a cost-effective system of internal control is a daunting, if not overwhelming, task.One way...
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Whitlock Speaks to the American Farm Bureau on IRS Compliance and Governance Issues
Brian Whitlock, Partner in Blackman's Wealth Transfer practice, will speak to the American Farm Bureau on IRS Compliance and Governance Issues at two of their regional meetings in March.March 2-4, 2010Western Region AFBF Leadership ConferenceReno, NVMarch 16-18, 2009Northeast Region AFBF...
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