From political stalemate in Washington to sovereign debt crises in Europe, a number of converging events appear to be contributing to a global economic slowdown, as well as to prospects for a double-dip recession here at home.
Here to provide some perspective is the latest issue of RBB News--our summary of important tax, business and financial news and opinion to help you see the bigger picture, and to make more informed decisions.
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In This Issue:
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Rucci, Bardaro & Barrett, PC
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In an effort to kick start the economy and get people back to work, President Obama unveiled a $447 billion jobs plan in September in which tax breaks for small businesses play a prominent role. But the plan faces a tough road in a divided Congress.
Meanwhile, business confidence remains at low levels. In Massachusetts, employers started September in a lousy mood, according to a survey by the Associated Industries of Massachusetts, a Bay State trade group.
One way to recover millions of lost jobs (and ease America's trade deficit) would be to return manufacturing to U.S. shores. In a New York Times op-ed piece, MIT president Susan Hockfield urged a return to the practice of manufacturing products down the hall or down the road from the R&D department.
Use your capital losses to cut taxes – A capital loss is the result of selling an investment at less than the purchase price or adjusted basis. Lately, depressed stock prices are casting a dark cloud over many investors. However, at tax time, capital losses can produce a ray of write-off sunshine. Here's how.
IRS faces challenges keeping up with the regulations – Turns out it's not just taxpayers who find the tax code confusing. The Internal Revenue Service itself is having a hard time keeping up with constantly changing tax laws, according to a report by accountingweb.com.
IRS warns employers about payroll outsourcing fraud – If you outsource payroll duties to third-party vendors, the IRS has a word of caution. While the agency has stepped up its prosecution of fraudulent third-party service providers, it reminds employers that they (not the vendor) are ultimately responsible for depositing and paying federal tax liabilities. Here's more information about employer responsibilities.
How CEOs can learn from mistakes - Most management mistakes fall into one of three categories: planning, procedures, or performance. In a blog post at nytimes.com, one CEO explains how he learned from a procedural mistake that affected his warehouse for nearly eight years.
Companies trolling Facebook for candidates they like – Facebook's use as a job-recruitment tool remains small, but its appeal is growing. More companies are tapping the social network's 750-million-plus user base to find new employees, which may be threatening more traditional recruiting methods, according to the Wall Street Journal.
Understanding the variables of successful bidding – For many construction business owners, project bidding has always been a fairly straightforward equation. But the industry's downturn has forced a closer look at the process, writes RBB partner Sal Falzone in an article for the Professional Contractor magazine.
In the latest issue of American Business Magazine, Paul Bardaro writes about ways to use the little-known method of issuing phantom stock as a technique for retaining valuable employees.
Roy Henshaw and his client Al Rose of Red Apple Farm spoke with Fruit Grower News about what lenders look for when evaluating a loan application from a farming business, and how to prepare.
Bill Rucci gave advice to readers of Medical Office Today about what medical practices need to consider when moving to establish a line of credit.
Vinny Botta has joined the Boston North Business Association, an organization that provides business people with professional support, mentoring and practical guidance for growing their businesses.
In the spirit of giving, Bill Rucci, participated in the 8th annual Boston Bruins Golf Tournament to support the team's charitable foundation for children. Paul Bardaro served on the organizing committee for--and also played in--the Medford Rotary Club's 17th annual golf tournament. Proceeds from the event support the club's youth scholarship program.
RBB is uniquely suited to handle assignments from many different types of businesses. Our size and structure allows us the flexibility to deliver superior service from a team assigned to your business and headed by a partner of the firm, and yet remain within your established budget parameters for either a specific project or an ongoing engagement. To contact us, call the above number or visit our web site - www.rb-b.com.
