News | Accounting Services - Lurie Besikof Lapidus & Company, LLP

Sale of Midway Industrial Supply

Lurie Besikof Lapidus Private Investment Banking Announces the Sale of Midway Industrial Supply to Generation Growth Capital.

IRS Extends FBAR Deadline for Certain Filers with Signature Authority

The IRS recently released Notice 2011-54, which provides additional time for certain individuals with signature authority over (but no financial interest in) foreign financial accounts to file Form TDF 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR). This article details Notice 2011-54 and explains how it coexists with FinCEN Notices 2011-1 and 2011-2 as well as certain voluntary disclosure programs.

Filling Potholes on the Road to Universal Health Care

The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act passed in 2010, put a plan in motion for universal health care. Several changes to tax law came with it, including different reporting requirements, new credits, and additional taxes for some taxpayers. Following the bill's passage, some revisions to provisions of the bill have eased the administrative burden on taxpayers and employers.

Estate tax uncertainty remains in 2011 and 2012

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 provided many answers regarding the estate tax, but, unfortunately, the act created additional questions as well. With certain estate tax law provisions scheduled to expire after 2012, estate planning uncertainty remains. This article explains how making lifetime gifts can take advantage of the current high exemption amount and low tax rate and details ways to add flexibility to an estate plan to prepare for potentially lower exemptions and higher rates in 2013.

FASB Issues New Standards for Fair Value Measurement and Disclosures

FASB has issued new standards for public and private companies on fair value (FV) measurement and disclosures. The new requirements — found in Accounting Standards Update 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs — don’t extend the use of FV accounting but provide direction on how it should be applied when already required or permitted. This article discusses how the new standards supersede previous guidance, make three critical clarifications and change certain other requirements.

Besikof Quoted in Twin Cities Business Magazine

Justin B. Besikof, President of Lurie Besikof Lapidus Private Investment Banking, was quoted in Twin Cities Business Magazine’s article, “Local Firms Expand in Response to Bump in M&As.” To read the full article, visit Twin Cities Business Magazine.

LBLCO Named Best Accounting Firm for Women

Lurie Besikof Lapidus & Company, LLP Named Best Accounting Firm for Women by the American Society of Women Accountants and American Woman's Society of Certified Public Accountants

7 Tips for Using Personality Tests to Hire

Personality testing can be very useful for small businesses, where the impact of hiring the wrong worker has a disproportionate effect.

Leading Edge Alliance Named Second Largest International Association

Lurie Besikof Lapidus & Company, LLP is a member of the The Leading Edge Alliance (LEA) ranked by the International Accounting Bulletin as the second largest international association of independent accounting firms for 2011.