Maryland news

Practice Management

A cautionary tale: Busy season can be life threatening

During the tax season of 1995-1996, Norm Lorch was not feeling well. He had a sore throat, but told himself it would go away. In any case, he did not have time to go to a doctor. Lorch is principal of Owings Mills, Maryland-based Norman J. Lorch, Chartered.
Practice

Small business employment index indicates job growth in January

Small business employment continued to show encouraging growth in January, with hours worked showing a strong increase as wages grew slightly, according to a recent survey.
Practice

Small business employment index indicates 57,000 jobs created in December

Small business employment continued to show growth in December with an increase in hours worked and wages flat, according to the most recent Small Business Employment Index by Intuit Inc.
A&A

Most common billing mistakes contractors make

Contractors, particularly those who are new to government work and are working for a Department of Defense agency, often face delays when submitting vouchers for payment.
Practice Management

How accounting firms can make 2011 better than 2010

Your company can position itself for further growth and prosperity in 2011. Strong or weak economy, it doesn’t matter. But in a weak economy, the services of an accounting firm are needed more than ever.
Tax

Tax Foundation releases state business tax index

South Dakota's tax system is most welcoming to economic activity while New York's tax code ranks 50th as the least hospitable, according to the Tax Foundation's most recent edition of the State Business Tax Climate Index, which ranks the tax systems of the 50 states.
Education & Careers

Small business employment index indicates 49,000 new jobs; wages down slightly

Small business employment continued to show growth in November, although wages were down and hours worked remained flat, according to this month's Small Business Employment Index by Intuit Inc.
Tax

Four celebrities face battles with the IRS

Even the thin, beautiful, and talented have to pay their fair share of taxes. Beverly Johnson, Janice Dickinson, Jaime Pressly, and Toni Braxton have run-ins with the IRS.
A&A

Pass, fail, or adapt: How to respond to changing DCAA audit rules

The Defense Contract Audit Agency, the agency which audits Department of Defense contracts, changed the rules last year to make its audits very simple: you pass or you fail.
A&A

Accounting for Apple's iPad

What initially might have been viewed as nothing more than an attention-grabbing gadget useful for reading electronic books and mail, mobile Internet-capable computing devices have become a convenient and practical tool for accountants. Managing Editor Bill Grabarek reports.
Tax

Thomson Reuters customers gather for back-to-back tax and accounting conferences

The Tax & Accounting business of Thomson Reuters will host more than 2,000 customers at two user conferences this fall – one for its professional tax and accounting firm customers on October 27 and another for corporate tax department and trust tax customers on November 1.

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Video provided by Maryland Association of CPAs

If I Were an Auditor - A Second Life Accounting Music Video

Produced by the Maryland Association of CPAs, Tom Hood, Executive Director & CEO. Musical co-directors Steven Zelin ("The Singing CPA") and Edith Orenstein, Financial Executives International.
Practice Development

Measuring the effectiveness of in-house training

Accounting firms that offer training programs in house for staff and management want to ensure that individuals meet continuing professional education requirements. At many firms, training programs encompass larger goals and are at the core of a firm’s culture.
A&A

D.C. launches amnesty program waiving penalties, fees on back taxes

Delinquent taxpayers will get a rare opportunity to pay outstanding taxes and interest to the District of Columbia, have their penalties and fees waived, and avoid criminal prosecution. The DC Tax Amnesty program will run from August 2 through September 30, 2010.
Tax

Revenue worries don't stop states from offering tax holidays

Taxpayers in 16 states will get sales tax breaks on the purchase of various school-related purchases during certain dates in July and August.
Practice

AccountingWEB LIVE! Conference to offer engaging sessions, CPE credit

AccountingWEB, the leading online media company for accountants, will be presenting the AccountingWEB LIVE! Conference on Tuesday, September 14, at the BWI Airport Marriott in Baltimore.
A&A

CPE mid-year 2010 update: Rules, regulations, trends

Mid-year 2010 has arrived and accountants in approximately half the jurisdictions in the United States are facing compliance deadlines. Tax time is well behind us and crunch time for compliance is here.
Tax

Broke states and broken promises

According to a recent report from the National Association of State Budget Officers and the National Governors Association, state fiscal conditions "have continued to worsen" and state revenues can be expected to lag behind a national economic recovery by one to three years.
Tax

Fear factor: Intimidating print, TV ads used in amnesty program

Tax amnesty can be an effective way for a taxing authority to quickly fill its coffers, clear a lot of names off the delinquency list, and help balance the budget. States do it from time to time, though critics warn that it can undermine regular collections if taxpayers begin to sense a pattern.

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