News

Practice Management

Collections Tip: Discounts Sometimes Work

CPA firms who chase after collections know that it is sometimes a losing game. Each firm tries to collect any outstanding balances due for obvious reasons, but doing so may be very difficult.One suggestion is to provide a 'discount' if the client were to pay within a specified time period.
Tax

Tax Tips for High-Income Clients

In our new economy, the number of U.S. millionaires has risen dramatically to 7.1 million households compared to less than half that number just five years ago. While this is good news for the individuals, many of them don't realize the tax bite that they are about to face. What can the tax advisor provide to these individuals to reduce their tax liabilities?J.P.

New IMA Program Awards $5,000 Faculty Grants

The Institute of Management Accountants is awarding up to 20 faculty grants of $5,000 each as part of their Faculty Enhancement Program.The goal is to promote the profession to students, and by awarding the grants, the IMA hopes faculty can draw upon many of the programs provided by the organization and communicate these programs to students.Deadline for grant applications is Oct. 1.

Writing: A Great Tool for Accountants?

If you are looking for a way to get yourself out there in front of specific audiences, namely those belonging to niches you’d like to grow, consider your article writing abilities. As professionals, we all turn to various trade publications to teach us the latest and greatest in our industries. This is a great place for accountants to stretch some marketing muscle and get smack in front of your target audience.If you’re considering getting articles published, think first of where you want to be.
Tax

IRS Unveils New Appeals Division

The IRS appeals division has gotten a facelift. As part of the complete IRS reorganization, the appeals division will now work more closely with the new IRS operating divisions and will arm appeals officers with greater settlement authority.National Appeals Chief Daniel Black is trying to organize as many as 300 officers who will be handling the onslaught of appeals that has been bottlenecking the Service since a 1998 ruling gave more taxpayers the right to a hearing before an appeals officer in certain collection actions.
Tax

Hello? IRS On the Line!

If you’ve never picked up the phone to hear the person at the other end identified as a representative of the IRS, you may not know what kind of a treat you are in for. But wait! Just because the IRS is on the line doesn’t mean you should go running for cover because your tax return is about to be examined. In this case, the kinder, gentler IRS is just being friendly.The IRS is about to conduct a telephone survey to determine the national comfort level with the process of electronically filed income tax returns.

Real-Life CE as a Benefit: Yoga Classes?

CPAs are going to continue going after CPE, but what about other types of training for themselves and their staffs?One of the newest trends taking place in the business marketplace is to find alternative continuing education opportunities ... getting away from the technical stuff and going after subjects that just feel good!Consider Yoga or exercise classes, for example, to boost employee morale. Community colleges are a prime source for solid continuing education in all interest areas. How about Spanish or other foreign language lessons?Get creative.

'Pay Envy' Leads to Hostile Work Environment

AccountingWEB has run several stories over the past few months on compensation methods, ways to hire and retain employees, and other facets of the HR process. Now, a story from USA Today goes into the psychological aspects of some new recruits being paid more than seasoned professionals.Known as 'Pay Envy,' workers in companies throughout N.
Technology

E&Y Adds to the Flock of Big 5 Start-Up Companies

The latest entry in the Big 5 divestitures arena comes to us from E&Y.
Technology

It's a PDA World: BYU e-Business School Goes Paperless

A pilot program at Brigham Young University's e-Business Center is supporting a paperless environment. The pilot kicked off this summer with one class testing the concept; the school hopes to expand the program this fall.Students use a PDA (Palm Pilot, for example) and laptop at their tools, and submit or retrieve class work totally over the Internet.
Tax

Businesses Will Save Billions by E-Filing Taxes

The IRS has established a goal of 80% for the amount of tax returns it hopes will be filed electronically by the year 2007.

Making Business Taxes less Taxing, with Lee Walthall

Presented by: Lee Walthall, Chairman and CEONationtax OnlineSession Moderator: Good afternoon, everyone!Lee Walthall is the Chairman and CEO for Birmingham, Alabama-based NationTax Online, the only company currently offering a completely Web-based solution for business tax preparation, filing and payment in multiple local, state and federal tax jurisdictions.
Tax

Free Tax Valuation e-Newsletter now Available

The Financial Valuation Group, a financial consulting firm specializing in business and intellectual property valuations, expert testimony and financial consulting, has created the Tax Valuation E-Flash, an electronic newsletter that delivers timely information on a variety of items related to valuation ramifications of tax cases.The free newsletter, available for subscription, includes abstracts of valuation related court
Technology

Outlook Tip: Create Backgrounds in Email Messages

If you use the HTML message format, you can use stationery to add a nice background to your messages.To do this, choose Tools/Options from the menu bar and click on the Mail Format tab. Make sure HTML is the selected mail format and, if necessary, deselect the Use Microsoft Word To Edit E-mail Messages check box.Then click the Stationary Picker button. In the Stationery Picker dialog box, select a stationery then click OK twice. Now create a new message and your stationery is changed to the one you selected.

Do Your Employees Understand Their Value?

When everyone in a company is running around trying their best to accomplish what’s expected of their individual job at that moment it’s easy for management to forget how important it is for staff to feel valued in what they do. If you didn’t understand exactly why it’s important for you to do what you do, would you care?Employees often shy away from responsibility, be it adding on additional facets to their job or fessing up to mistakes if they feel that what they do doesn’t really matter anyway. How to you help them understand this?

Trade Secrets Impede Trading Jobs

We all know that the competition is fierce out there in corporate America. So fierce that many companies are having their employees sign non-compete contracts as soon as they arrive. As an employee you need to make yourself completely clear of what the contract consists of and decide whether it’s for you. Make sure you are comfortable with the length of time you would have to wait before finding new work. You even need to find out if you can take your Rolodex.
A&A

'Super Stock Options' Attractive for Employer/Employee

The best of both worlds can be found in what it termed 'super stock options,' and legislation currently in the House of Representatives to approve such a measure.Super stock options are advantageous both for employer and employee. If it passes, employers can deduct the cost of the options when the employees exercise them.
Community News

Andersen Consulting-PwC Merger Rumors Quashed

Talk of a merger between PricewaterhouseCoopers and the newly-unwed Andersen Consulting has been roundly condemned by the consultancy firm.Consulting was not in merger talks with anyone, a spokesperson confirmed, after reports that the two were holding discussions.Now that Andersen Consulting is free of Arthur Andersen's grasp, the rumor mill has been grinding with a variety of predictions and fantasies.In London, the

Excel Tip: Automating the Presentation of a List

Are there lists that you need to enter over and over again in your Excel worksheets? For example, do you frequently prepare worksheets containing a list of the chart of accounts, your employees' names, your inventory parts, and so on? You might uncover an older worksheet file that contains the list, copy the original list and paste the list into your new file. Or perhaps you retype the list each time you need it to appear in your worksheet.Here's a quick and effective method for saving and recalling lists.
Technology

Chat the Friendly Skies

Companies such at Virgin Atlantic Airways and Boeing have been working diligently to create a flying experience that will allow passengers to conduct business as usual. Since having access to the Internet and a phone is such a huge part of doing business, mobile communication is their main focus.Virgin Atlantic Airways is positioning itself to be the first airline to allow passengers to receive phone calls in-flight on their own personal mobile phones.

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