The professional social networking site LinkedIn.com recently consummated its initial public offering. While it is far too early to predict how the stock will perform over time, investors’ initial response was overwhelmingly positive.
What steps should companies be taking now to improve corporate governance in light of the Dodd-Frank Act?
Ever since the passage of Sarbanes-Oxley, internal controls, auditor independence, and the effective functioning of the audit committee have largely been the focus of corporate governance. That focus has now shifted, largely as a result of the Dodd-Frank Act, to executive compensation.
The $5 billion-plus Panama Canal expansion is expected to be completed by 2014, thus allowing ships carrying nearly three times as much cargo to pass through the canal. What will this mean for Florida’s ports and the state’s imports and exports?
In March, Gov. Rick Scott surprised most when he announced that the state will loan $77 million to a dredging project which will help to make the Port of Miami one of the few ports on the eastern seaboard that can accommodate those gigantic ships, known as post-Panamax ships. Because these larger ships will require […]
How much insurance coverage are condominium and HOA communities required to have, and how much of that insurance covers the owners who live in those communities?
June 1 is just around the corner, and that means hurricane season will soon be upon us. Although Floridians have been spared by Mother Nature in the past few years, it is better to be safe than sorry when it comes to having the right amount of coverage for your property. If you own a […]
Last week, the FBI indicted individuals connected with online gambling companies on charges of fraud and money-laundering and of running illegal casino operations, essentially shutting down three of the largest poker websites to U.S. players. What does the shutdown of online poker sites mean to gaming in Florida?
On Friday, April 15, 11 people connected to PokerStars, Full Tilt Poker and Absolute Poker were indicted on federal charges and their bank accounts frozen. Since 2006, the online poker sites have been headquartered outside of the United States and operated from offshore accounts because federal law prohibits online gambling except where state law allows […]
What do I need to know if I owe income tax to the IRS, but can’t afford to pay right now?
As the saying goes, there are two things in life that are certain, death and taxes. With April 18 just around the corner, there will be a portion of Americans who will owe income tax this year. Although due to the down economy there will be some people who cannot afford to pay the Internal […]
What do unemployed taxpayers need to know this year?
Trying to understand the tax code and its new rules for 2010, which affects deductions, credits and taxable income can be quite daunting if you aren’t a tax professional. It can also be a major source of stress for someone who is unemployed. The first thing unemployed taxpayers should remember is unemployment benefits paid by […]
Spring Break is here and Florida is a destination for many students and families alike. What are the current trends and issues regarding Florida tourism and the hospitality industry?
Current trends in Florida tourism are important to all Floridians because of the substantial impact of tourism on the state’s economy. Visitors to Florida spend approximately $60 billion annually, generating about 22% of Florida’s total sales tax revenue. Although Florida’s unemployment rate remains above the national average, tourism continues to account for roughly 1 million […]
I read that the IRS recently announced a program to allow individuals with undisclosed offshore accounts to come forward to report their assets. What is this program and why should I consider participating?
The Department of Justice has recently successfully prosecuted individuals with undisclosed offshore accounts. For example, in February, two South Florida real estate developers received 10 year prison terms for filing false tax returns relating to offshore accounts. In February, the IRS announced a new offshore voluntary disclosure initiative (OVDI). Under the 2011 OVDI, taxpayers who […]
Why has the IRS increased its audits of High Net-Worth Taxpayers?
The IRS is fed up with being outgunned by sophisticated, high-priced tax lawyers, CPA’s and financial advisors, and they’ve taken steps to level the playing field by assembling a new army of auditors to target affluent taxpayers and scrutinize their finances. High net-worth taxpayers should be on the lookout for new IRS intrusive audits now […]
