PS&Co. Updates

PS&Co.’s Leo Munoz Recognized in Top Texas Verdicts of 2014 by Texas Lawyer Magazine

jennifer.vancleave — Thu, 18 Jun 2015 18:19:48 +0000

Leo Munoz, CPA/CFF, CFE, Senior Manager of Risk Advisory Services at Padgett Stratemann, has been recognized by Texas Lawyer Magazine for his expert witness testimony in one of the Top Texas Verdicts of 2014.

PS&Co. Partners Discuss What Loss of Ex-Im Bank Would Mean for San Antonio Businesses with the Business Journal

jennifer.vancleave — Wed, 17 Jun 2015 20:30:40 +0000

PS&Co. Partners Hector Frietze and Jim Carter discuss what the loss of the Ex-Im Bank would mean for San Antonio Businesses in the San Antonio Business Journal

Nevada Enacts Commerce Tax Effective July 1, 2015

jennifer.vancleave — Mon, 15 Jun 2015 21:20:33 +0000

S.B. 483, signed by Governor Sandoval and effective July 1, 2015, imposes an annual commerce tax on each business entity engaged in business in Nevada. Generally, the tax base is gross revenue apportioned to Nevada with a $4,000,000 standard deduction.

Oklahoma Adopts Tax Amnesty Program to Run From September 14, 2015 Through November 13, 2015

jennifer.vancleave — Mon, 15 Jun 2015 21:16:18 +0000

Oklahoma has enacted legislation authorizing and directing the Oklahoma Tax Commission to administer a tax amnesty program from September 14. 2015 to November 13, 2015.

PS&Co. Ranked 101st Largest CPA Firm in the US by Accounting Today Magazine

jennifer.vancleave — Fri, 05 Jun 2015 18:49:03 +0000

Padgett Stratemann & Co., L.L.P. has been named the 101st Largest Accounting Firm in the United States by Accounting Today Magazine, a leading provider of online business news for the tax and accounting community, in its 2015 Beyond The Top 100: Firms To Watch list.

Poor Forecasting, Inconsistent Reporting Often Spawn Profit Fade

jennifer.vancleave — Fri, 05 Jun 2015 15:08:46 +0000

Given the multiple facets of a construction project, it’s a rare occurrence when at least one task doesn’t go as planned. That’s the nature of construction. What is critical for contractors, however, is to make certain that the unexpected doesn’t inordinately drain profits.

Scrutiny Heats Up on Valuations and Fairness Opinions in M&A Deals

jennifer.vancleave — Thu, 04 Jun 2015 19:41:20 +0000

It’s almost a certainty that in the next M&A deal you’re involved in, the shareholders will sue. The latest research says that shareholders sue in 94% of M&A deals,[1] which puts valuations and fairness opinions squarely in the hot seat.

Refining Fair Value Disclosures

jennifer.vancleave — Wed, 03 Jun 2015 15:11:56 +0000

What price do investors that publish quarterly or annual reports, whose report date coincides with a significant overnight market change, use to value their investments: the report-date marketclosing price or the next day’s opening market price?

FASB Proposes Accounting Standards Changes for Not-For-profits

jennifer.vancleave — Wed, 03 Jun 2015 14:41:59 +0000

On March 4, 2015, the Financial Accounting Standards Board (FASB) voted 5 to2 in favor of releasing a proposal in the form of an Exposure Draft (ED) that will significantly impact not-for-profit financial reporting.

The 2014 Tax Extender Changed Some Tax Penalties

jennifer.vancleave — Tue, 02 Jun 2015 19:15:17 +0000

One of the less publicized provisions of the Tax Increase Prevention Act of 2014, sometimes called the 2014 Tax Extender, is that Congress modified several tax penalties. The 2014 Tax Extender extended more than 50 expired tax credits and deductions.