President Obama just signed a new law that provides incentives for employers to hire and retain unemployed people. The "HIRE Act" also includes an extension of the large tax deduction qualified businesses could claim last year for buying equipment. In addition, the law makes the "Build America Bonds" program more attractive to investors. To help pay for the tax breaks, the law includes penalties on certain foreign tax compliance matters. Here is a rundown of the provisions in the new legislation.

The Securities and Exchange Commission (SEC) will soon issue a statement that lays out its position regarding global accounting standards and makes clear that the SEC continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors. The SEC's announcement confirms the USA's movement to a global set of high-quality accounting standards that are not US GAAP. Once the capital markets are on board, then it will be expected to be followed in the non-public arena (e.g., private placement offerings that contain registration rights).

A new credit card law, which fully went into effect on February 22, 2010, is designed to end unfair credit card practices for consumers without shutting off credit opportunities. Banks and financial institutions had 90 days to prepare for the new regulations set forth in the law. You may have noticed some changes on your most recent credit card statement. You may also want to take a second look at the next one. Click through for 10 protections from the Credit Card Accountability, Responsibility and Disclosure Act that you should be aware of.

Daszkal Bolton LLP, the leading certified public accounting firm in South Florida, is pleased to announce the addition of Arlene Ravalo-Jao, CPA/CFF, ABV to the firm. Arlene will be a Senior Manager in our Business Valuation and Litigation Support Department also based out of our Sunrise office.

The Alternative Minimum Tax (AMT) continues to mystify many taxpayers. Basically, the goal of the AMT is to ensure that anyone who benefits from certain tax advantages pays at least a minimum amount of tax. Did you know the AMT was created by Congress in 1969? Or that the exemption amounts change nearly every year? Although there have been several proposals in recent years to reform or eliminate the AMT, the political system may not readily allow for substantive changes. Click through for seven facts that you should know about the AMT and to review the changes to this special tax for 2009.

Like many other people, you may have taken an early distribution from your retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact when tapping into your retirement fund. Click through for nine facts about early distributions

The rising unemployment rate and desire to become an entrepreneur have resulted in more home-based businesses taking root. The business may be the main source of income for the family breadwinner or a sideline to supplement another job. In either event, expenses may be offset by home-office deductions. Click through to maximize deductions on your return by reviewing the basic tax rules and examples for putting them into practice.

Successful companies are a lot like winning sports teams. With the Super Bowl behind us and the Winter Olympics heading our way, it's a good time to gather managers and key employees together to brainstorm new profit strategies. Here are a few lessons taken from coaches that can help your business score big time by putting more dollars on the bottom line. Click through for important lessons about maintaining business profitability.