News

Technology

Dot.com Accounting - Anyone's Guess?

Dot.coms are here to stay, and while Congress keeps debating the pros and cons of Internet taxation, accounting procedures for online businesses is one arena in which there are few rules to follow ... and even so, the rules keep changing.The rules focus on how Generally Accepted Accounting Principles (GAAP) are applied to e-Commerce and online businesses.

Free Weekly Pub Provides E-cruiting Aid

E-cruiting Business is the newest information source for busy HR managers. The publisher, Staffing Industry Analysts, Inc. (SIA), believes this publication, which is a both a print and online newsletter, has just what it takes to help HR professionals impact an organization’s bottom line.The monthly print newsletter features weekly e-mail bulletins and combines objective industry analysis with hot news reports.

AccountingWEB Weekly News Wrap-up - Issue 34

The AccountingWEB Friday Wrap-Up Newswire - Issue 34March 17, 2000http://www.accountingweb.com**This week's Newswire is sponsored by LifeGoals.com Corporation**http://www.lifegoals.comIn the news this week:1.
Tax

St. Patrick's Day Green: IRS is Hiring

Finding the pot o'gold at the end of the rainbow has reached the IRS, who asked Congress on Thursday for approval to hire 2,000 more employees as part of the Service's proposed 9.5 percent budget increase.Several thousand more employees would enable the IRS to step up its audit investigations, and without the increase, Commissioner Rossotti said more taxpayers may be forced to cheat on their taxes.Overall projected budget is $8.8 billion for fiscal 2001 for an increase of $769 million dollars.

Four Software Packages That Make CPE Tracking Easy

Tracking annual CPE is another fringe benefit you might want to provide your employees. It doesn’t cost a lot and if you get it systemetized, it won’t take one person too long to handle your whole firm. Accountants love it.

AICPA and Bar Offer Tax Simplification

Several of the largest organizations involved in taxation issues has offered sage advice to Congress regarding tax simplification.The American Institute of CPAs, the American Bar Association and the Tax Executives Institute sent comments to Washington in the hopes that their opinions will be heard.Areas mentioned for simplification include the Earned Income Credit, the "half" measure for early withdrawals from retirement accounts, the Alternative Minimum Tax, minimum distributions from
Technology

Access Your Favorite Bookmarks From Any Computer

If you're like me, you often find yourself in remote locations checking e-mail, and doing work on the Internet. If you're using different computers all the time (say at a client's office or even at a Kinko's down the road), you can now access your personal Bookmarks or Favorites using Bookmarksync.com. A quick download of free software on your own computer allows you access to the system. When you're traveling, simply logon to their website and you'll have full and immediate access to your bookmarks!
A&A

SYNERGY Serves CPA/ Financial Services Arena

The latest player in assisting the CPA delivering financial services is SYNERGY. SYNERGY is a membership group of CPA firms who, at the national level, will offer support, guidance and education to the CPA delivering services in local areas.SYNERGY is based in White Plains, NY, and headed by Walter Primoff, former deputy executive director of the New York State Society of CPAs. In its initial implementation phase, SYNERGY will serve firms through its Web site, publications and in educational programs.
Community News

Illinois Firms Overlook 150-Hour-Rule

Remember the controversy surrounding the 150-hour-requirement several years back when states began implementing the rule to sit for the CPA Exam?In Illinois, when the five-year-plan becomes reality in January 2001, CPA firms who hire recent graduates say they will continue hiring graduates regardless if the potential employee has 150 hours or not.This and other opinions were revealed in a new survey conducted by the Illinois CPA Society and Illinois College.
A&A

SEC Fights for Fund Disclosure

Investors looking to learn about the impact of taxes on their funds' performance may soon find their fund companies doing this for them. The Securities and Exchange Commission has proposed that fund companies take this role because investors are entitled to be told the after-tax consequences of funds.Taxes affect funds differently. Two funds with identical before-tax returns can have two very different tax liabilities. Fund investment strategies can really make a difference at tax time.

Alcoa Chairman Named to Public Oversight Board

Alcoa chairman Paul O'Neill joins an exclusive group of individuals as the newest member on the Public Oversight Board (POB) of the AICPA SEC Practice Section (SECPS).The POB is made up of five members who oversee the self-regulatory programs of the SECPS, an AICPA membership group of firms who audit public companies registered with the SEC.

Texans Favor Internet Tax

The great state of Texas has spoken. A new telephone poll of 1,000 residents confirms that 54 percent of respondents favored taxing goods and services at the same rate as those found in traditional venues.The poll, conducted by Scripps Howard, also found that 32 percent opposed the Internet sales tax (14 percent rode the fence).The results have changed since previous polls in which prior surveys found that respondents were fairly split on their opinions regarding the special tax.Texans who did not use the Internet were much more positive about taxing purchases.

Andersen Consulting and Microsoft Form New Company

The computer giant, Microsoft, and Andersen Consulting have teamed to form a new company called Avanade. The new company will focus on providing Internet services that utilize Microsoft’s Windows 2000 operating system.This new venture is a big move for Microsoft. The company is throwing $1 billion in the kitty to push its way into the e-commerce services sector. Andersen is bellying up to the table with other resources such as training, services and intellectual property.
Community News

EY Sues Washington, D.C. Law Firm

Many people probably remember last year's high profile case when Ernst & Young settled a suit with Merry-Go-Round retail giant for $185 million. Merry-Go-Round alleged that EY caused problems with a turnaround attempt based on improper accounting procedures.Now, EY is having its day in court. The firm has taken the D.C.

My God, I've Never Experienced That Before!

"My God, I have never experienced that before!"Hearing a client say that about your services is music to the ears. But what inspires a client to say that about you? What is it that sets you and your services apart from the competition?Rich Durkin, a Business Development Specialist for Results Accountants' Systems believes that the answer lies in how you define and articulate your Unique Core Differentiator, that thing that really sets you apart from your competitors.

Unique Core Differentiators - with Rich Durkin

Rich DurkinResults Accountants' SystemsSession Moderator: Good afternoon everyone. Hope you all are off to another successful week. Today, we are happy to welcome Rich Durkin with Results Accountants' Systems. Before we get started, remember that this is your workshop. Our online format allows you to ask questions just like you would at any other type of seminar. So, feel free to jump in at anytime. If, for some reason we skip your question, don't worry.
A&A

Tax Bill Yields Results

In addition to a rise in minimum wage, the recently passed tax bill is generally positive for small business owners, according to analysts and experts who are examining the legislation.A gradual reduction in the estate tax is viewed as a boon for small business owners, although Democrats disagree with the logic.
Tax

E-Returns Expected to Grow to 50 percent of Total by 2007

According to recent statistics suggested by the IRS, basic tax returns that are filed electronically in 2007 are expected to total almost 50 percent of all returns filed during a typical tax season. Last year the total was 125.1 million returns.In 2000 alone, it is expected that 33.6 million returns will be filed over the Internet for 26.5 percent of the total.

Rich Durkin

Rich Durkin is a Professional Development Consultant for Results Accountants’ Systems (RAS). He has helped reengineer over 100 different accounting firms, ranging from sole practitioners working out of their home, to practices with 30 + partners. He has done this by enabling the accountants to understand and learn how to provide more value added services, specifically in the area of business development.

Ernst & Young Acquires SMA

Big 5 firm, Ernst & Young, LLP (EY), just acquired the assets of Chicago-based Shipman Maison Associates (SMA). SMA provides software products that enable large corporations to screen and track employees and maximize tax incentives such as Work Opportunity Tax Credits (WOTC).This is an opportunity for EY to provide an even stronger incentives offering for clients.

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