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The runoffs in the 2018 Primary Election were held yesterday. Last night was full of surprises, including an underdog’s breakthrough in the Lieutenant Governor’s race. Further, the widest margins of victory were seen in races where the incumbent faced an opponent who had previously held the office. Steve Marshall had a 24% margin of victory in what many predicted to be a very close Attorney General’s race, while Congressman Martha Roby (R—AL) beat former Congressman Bobby Bright by 36 points.

In a transmittal letter to the standards, U.S. Comptroller Gene Dodaro states that the new generally accepted government auditing standards (GAGAS) reinforce the principles of transparency and accountability for auditors as they provide objective analysis and information in service to the public.

Normally, we hear terms like “rightsizing”, “reengineering”, “management shift”, and “turnaround” to describe a process the company is embarking upon to reach new heights.  Although, the underlying tone is that of business change in order to handle a new challenging market or circumstance.  Some changes have been enormous failures while others have been success stories but; however, sadly most fall in the middle and, if anything, more towards the side of failure.  There are lessons to be learned with each, and I find it far easier to study from those that have traveled before than reinvent the wheel each time. 

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The Alabama Legislature has enacted the Alabama Tax Delinquency Amnesty Act of 2018 to allow qualifying taxpayers to receive a waiver of penalties and interest on eligible tax types. The application period is now open through September 30, 2018.

The CFO of digital payments company Square gives her view on a cashless future, business-as-a-service, cryptocurrency, and data science.

Turnout is always an issue for a runoff, but with the Republican nominations for Attorney General and Lieutenant Governor still undetermined, voters have little reason to be indifferent. Additionally, there will be a Republican runoff in the race for Alabama’s 2nd Congressional District, where Congressman Martha Roby (R—AL) faces her predecessor, former Congressman Bobby Bright, whom Roby ousted in 2010. Bright has changed parties and launched a campaign premised on his support for President Trump, aimed at emphasizing Roby’s lack thereof. However, President Trump has endorsed Roby and been critical of Bright, which has curbed his campaign’s momentum. The report compiled below provides a summary of each runoff race.

An escalating tariff tit-for-tat between the US, Canada, China, the EU, and Mexico is producing its first fallout, and companies are responding to the increased costs of goods.

It’s going to cost your small business clients to hire this summer, but at least the wages are deductible on their annual returns. Even better, if they hire workers from one of several “target groups,” a portion of the wages may qualify for a special tax credit.

Someone needs to verify the link between digital records and physical objects.