SC&H Group Blog: Expertise Beyond the Numbers

Weekly News Round Up: Projected Growth for Aerospace and Defense; FireEye’s Acquisition of Mandiant; and More Americans Want to Save Money

Welcome to the Weekly News Round Up from the SC&H blog.  Each week, we showcase a series of news stories that span everything from government contracting to personal finance to state and local tax issues.

This week, we have compiled stories about projected growth in the defense and aerospace industries – though we are not out of the woods when it comes to sequestration – as well as how FireEye’s acquisition of Mandiant could mean more M&A activity in the tech sector in 2014.

Deloitte Report Projects 5 Percent Growth in Aerospace and Defense Industry

The continued decline of defense spending into 2014 will likely force new revenue streams for the aerospace and defense (A&D) industry, according to Deloitte’s 2014 Global Aerospace and Defense Outlook.

FireEye’s Deal Could Spell More Tech M&A

According to the Wall Street Journal, FireEye’s acquisition of Mandiant for $1 billion could be a sign of enhanced M&A activity in 2014 for the tech sector.

Beanie Baby Billionaire Seeks to Avoid Jail for Tax Evasion

The billionaire creator of Beanie Baby plush toys asked a judge to give him probation, not prison, for evading taxes on secret Swiss accounts that held as much as $107 million.

Preparers Oppose PCAOB’s Plan For More Auditor Disclosures

The message from financial statement preparers to the PCAOB about the content of audit reports is clear: they don’t want their responsibilities usurped by auditors.

No More Mr. Nice Guys: SEC Sharpens Talons for 2014

According to CFO.com, the recent trough in the SEC’s enforcement of financial-reporting regulations will turn around this year.

New Procedures for Reinstatement Of Tax-Exempt Status Are Introduced

Organizations that have had their tax-exempt status automatically revoked because they failed to file required annual returns for three consecutive years have new procedures in order to get their exempt status reinstated.

Congress Again Lets 55 Tax Breaks Expire

Congress let a package of 55 popular tax breaks expire at the end of 2013, creating uncertainty – once again – for millions of individuals and businesses.

Saving vs. Spending: The Shift in Personal Finances

According to new research from Gallup, more Americans now say they prefer saving instead of spending.