Accounting
Top stories summarized by our editors
1/24/2017

The Mexican peso posted the biggest gain among rising emerging market currencies as the dollar declined on foreign exchange markets in Donald Trump's first days as US president. In its first full day of trading after Trump's inauguration, Mexico's peso rose 1.4%.

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Bloomberg
1/24/2017

Unmanned flying devices have the potential to bring new ways of doing business to accounting firms. And new rules on drone use open up opportunities for firms of all sizes.

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CPA Insider
1/24/2017

Practitioners are prepping to implement the Financial Accounting Standards Board's new revenue recognition, leases and credit losses standards. As the effective dates loom, CPAs are realizing the substantial work involved in applying these standards.

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AICPA Insights
1/24/2017

Choosing the right location to retire can help people stretch their savings and lead a more comfortable lifestyle. Florida, Wyoming and South Dakota were the top three states for retirees, according to a ranking that accounted for factors such as cost of living, crime rate and the presence of health care facilities.

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CNBC
1/24/2017

Because a taxpayer retained substantial rights in a patent, royalties it received from licensing the patent did not qualify for capital gain treatment, the Tax Court held. This article explains how the licensing agreement could have been drafted to achieve better tax results.

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The Tax Adviser
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Tax Court
1/24/2017

It is tempting to seek revenge for an action that has hurt you in your business or personal life, but this will not give you the peace of mind you want. Every story has multiple sides, and taking revenge will ultimately hurt you as much as it does anyone else.

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Forbes
1/23/2017

Constellation Brands, which owns Corona beer, is taking steps to avoid raising prices on goods produced in Mexico and imported to the US. Constellation and other companies are planning changes in response to the potential for tax reform under President Donald Trump and a Republican-controlled Congress.

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CGMA Magazine online
1/23/2017

More than one-fourth of respondents to a Consumer Financial Protection Bureau survey reported feeling threatened when dealing with debt collectors. The report noted that consumers may receive frequent calls at odd hours, among other issues.

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The Associated Press
1/23/2017

In a welcome development for taxpayers, the Internal Revenue Service said that it would once again issue private letter rulings under Sec. 355 on whether a spinoff transaction meets the business-purpose requirement and is not a device to distribute earnings and profits, both prerequisites for tax-free reorganizations that the IRS stopped ruling on more than 10 years ago.

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The Tax Adviser
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Internal Revenue Service
1/23/2017

Net share buybacks surpassed free cash flow after dividends at publicly traded companies studied by Fitch Ratings in a yearlong period ended in September. Buybacks have exceeded free cash flow since 2014, encouraging companies to make up the difference by borrowing.

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cash flow, Fitch Ratings