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| Editor's Note |
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When I took Home Economics in school (granted, it was a different century), I learned about budgeting and managing home expenses. I thought that's what Home Economics was all about. When my children took Home Economics, they learned how to make Kool-Aid and pop popcorn in the microwave. I guess there's value in that education, but with the way people are struggling in today's economy, I think a little refresher on coupon clipping and turning down the thermostat at night might be in order.
On a grander level, states turned to voters for tax increases this fall to help balance their broken budgets, but election results in many states show that voters have had enough. As any accountant can tell you, there are two ways to increase the bottom line. Raising revenue (i.e. taxes) is one way. Decreasing expenses is the other. Voters seem to be saying it's time to cut back on the government spending. Will the pressure be enough to encourage both state and federal government agencies to start cutting expenses? Home economists across the country are dredging up their tried and true methods of tightening their belts. It's time the governments went back to school for some home economics lessons of their own.
Best wishes,
Gail Perry, CPA
Editor-in-Chief
editor@accountingweb.com
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Expanded Recovery Act tax credits help homeowners winterize homes
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The Internal Revenue Service is reminding consumers that they can weatherize their homes and be rewarded for their efforts. Homeowners making energy-saving improvements this fall can cut winter heating bills and lower their 2010 tax bill, too, according to the IRS.
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Four celebrities face battles with the IRS
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Even the thin, beautiful, and talented have to pay their fair share of taxes. Beverly Johnson, Janice Dickinson, Jaime Pressly, and Toni Braxton have run-ins with the IRS.
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NBA's Lamar Odom cries foul, challenges IRS
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Los Angeles Lakers forward Lamar Odom is accustomed to facing formidable opponents on the basketball court. But these days, he’s taking on the Internal Revenue Service in a different court setting over what he sees as a personal foul.
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| Kaplan Weekly Quiz |
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Are you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz. |
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