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Retaining African Americans in the accounting profession

03/09/2010 - 16:57 - 293 reads
shake hands handshake agreement deal
The low number of African Americans in the accounting profession is discouraging, and that number might even be declining despite the best efforts of hiring firms.

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Saving QuickBooks clients from themselves: Set up Draw as an Other Expense

03/09/2010 - 02:13 - 493 reads
QuickBooks
Do you work with a Sole Proprietor or S-Corp? Has your client ever been confused by having to pay taxes on a large profit, when there is no money in the bank? Sometimes we have to help save clients from themselves.

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Small business and QuickBooks: Did you reconcile?

03/09/2010 - 01:53 - 472 reads
QuickBooks_ProAdvisor
Love it or hate it, most small business owners are using QuickBooks to track their company’s finances. If you follow these steps on a daily/weekly basis, then reconciling your account should only take a few minutes of your time and should be very easy.

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Tools for virtual accountants: portals, applications, and file space

03/09/2010 - 01:41 - 714 reads - 1 comment
Internet,URL,Domain,Web
Business professionals realize that the issues of time and distance no longer impact their ability to get work done. In order to make the most of your virtualized working model, consider the value of the following three elements you should have in your online toolkit.

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QuickBooks at tax time: Cleaning up your client's QuickBooks data

03/09/2010 - 01:21 - 459 reads
broom
Though QuickBooks is very easy to use, our clients often create numerous setup and data entry errors that we have to troubleshoot. This troubleshooting often coincides with tax time.

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Selling services: It’s not about the money

03/09/2010 - 01:03 - 269 reads
Tip,Money
I spoke in December at a networking meeting of sales professionals. What I was asked to speak about (and this by someone who fully understands my views on the topic), and what I disclosed during my brief presentation is the following: Sometimes it’s just not about money.

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Banking payroll hours: The ATM approach for QuickBooks

03/08/2010 - 22:40 - 261 reads
ATM,Timeclock
Employers will occasionally allow employees to bank extra hours worked and will then pay the banked hours at a later date. For QuickBooks payroll users, there is a simple workaround that can address the issue of tracking banked hours.

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North Carolina CPA firms merge

03/04/2010 - 12:30 - 802 reads
pittard.jpg
Pittard, Perry & Crone Inc., a CPA firm with nine offices in North Carolina, has acquired two independent CPA firms in Raleigh.

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Millennials: Get the tax refund you deserve

03/04/2010 - 12:22 - 782 reads
Y,Generation_Y
The Illinois CPA Society offers six 2009 tax filing tips for the under-30 crowd

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The prince of DC coffee gets a jolt from the king of sales tax

03/04/2010 - 11:58 - 854 reads
Coffee
In Washington, D.C., Nick Cho is a local celebrity – at least among the coffee-loving crowd. He was the owner of a popular Capitol Hill hangout called Murky Coffee. Unfortunately for Cho, he’s been gaining fame for a less stimulating reason.

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10 tips for small businesses to reduce risk of an audit

03/04/2010 - 11:58 - 1033 reads
IRS,Audit
Company.com, an information and lead generation services portal for small and medium-sized businesses, has provided us with a list of ten tips for helping businesses avoid IRS tax audits.

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Florida mayor owes IRS more than $200,000 in back taxes

03/01/2010 - 16:45 - 1283 reads
Tax_sign
Florida’s North Bay Village mayor allegedly hasn’t made a mortgage payment in nearly two years, lives in a house on which he had built an illegal second story, and owes the Internal Revenue Service more than $200,000 in back taxes.

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Battle with IRS and bank leads man to raze his own house

03/01/2010 - 16:03 - 1402 reads - 1 comment
Mortgage,House
A few weeks ago Terry Hoskins had a 3,088-square-foot brick house that he and his wife had occupied since 1991. It was valued at more than $350,000 and he owed the bank about $160,000. Now the house is a pile of rubble.

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Inmates turn incarceration into profit

03/01/2010 - 12:43 - 1501 reads - 1 comment
Prison,Jail,Inmate
At least 50 detainees at the Stock Island Detention Center near Key West, Florida, figured out how to scam the Internal Revenue Service out of $100,000 in bogus tax refunds.

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Potpourri of celebrities and their dealings with the tax man

03/01/2010 - 11:00 - 1014 reads
IOU,Star,Graumens,Debt,Celebrity
Rapper Snoop Dogg, nee Calvin Broadus, is in trouble with the Internal Revenue Service again. On January 19, the IRS filed a lien with the Los Angeles County Recorder of Deeds against Snoop Dogg and his wife, Shante.

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New retirement plan rules will affect millions of 401(k) account holders

02/26/2010 - 17:00 - 1741 reads
RetiremenMoneyJar_featured.jpg
The U.S. Department of Labor has announced two new rules designed to enhance retirement security and transparency for the millions of workers covered by 401(k), pension, and other retirement arrangements.

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AmEx CEO Ken Chenault on How Regulation Impacts the Payments Industry

Recently, David S. Evans, Editor in Chief, interviewed Ken Chenault, Chairman and CEO of American Express. Chenault weighs in on how the economy and government regulation will impact the payments industry, and how American Express will navigate these tricky waters. READ MORE >>

IRS Extends Comment Deadline To June 1 On Uncertain Tax Positions Proposal

FEI's Washington DC Government Affairs office reports that the Internal Revenue Service is giving interested parties more time to submit comments on its recent proposal to require companies to disclose information about their uncertain tax positions.  
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Welcome to AccountingWEB

Whether you are new to tax preparation or a seasoned accountant providing tax preparation services to clients, you've probably given thought to what tax software makes the most sense for you to use. As you prepare for the upcoming tax season, we think it might be useful for you to learn about some of the various programs on the market, and thus we are proud to present our Tax Software Review.

Regards to all,
Gail Perry, CPA
Managing Editor, AccountingWEB
editor@accountingweb.com

Did you miss the 2009 Tax Software Review?

Our crew of tax software reviewers experimented with fourteen programs this year, including installable desktop and SaaS online programs. We’ve tried to provide an overview of how the programs work, what features they include, what kind of tax preparer/practitioner they are geared toward, and how much they cost, so that you can make an informed decision. Click here

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Kaplan Weekly Quiz

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Book of the Week

The Checklist Manifesto: How to Get Things Right  by Atul Gawande

A remarkably liberating and persuasive inquiry into what it takes to work successfully and with a personal sense of satisfaction. The first thing you'll realize is that it takes more than just one person to do a job well.