A&A news

A&A

Block Combines Real Estate Companies

H&R Block has taken the retail operations of the two real estate companies it owns and given them a new name, H&R Block Mortgage Corporation. The two companies were Option One Mortgage Corporation and Assurance Mortgage Corporation.The new company, based in Burlington, MA, marks another move by the tax preparing giant to capture more of the financial services marketplace. Recently, Block opened its newest venture, a complete financial services center, in major cities.H&R Block Mortgage is licensed to operated in 48 states.
A&A

Auto Write-Offs: Bigger is Better

Tax season is the time of year when clients invariably try to take as many deductions as possible--within the extent of the law. One area commonly overlooked, especially for self-employed individuals, is the allowable deductions for a car.Brushing up on the rules will benefit your client (and perhaps you, too!).Naturally, if a car is used primarily for business, the IRS allows taxpayers to deduct a maximum $3,060 each year. But now that cars cost more, and more of us yearn for a luxury car--even a gigantic SUV--how does the car depreciate over time?Slowly, for sure.
A&A

Tips for Selling to Women Business Owners

Gerry Myers, President of the Myers Group, a consulting firm specializing in women owned businesses, led a discussion in this week's AccountingWEB Workshop on tips for selling to women owned businesses.Some interesting ideas and trends that she provided about selling to women should be reviewed carefully:90% of all women will be responsible for managing their own finances at some point in their lives.Given their traditional investing and savings patterns, women retiring in the next 20 years
A&A

FEI Finds Audit Should Focus on Business Risks

A new survey by the Financial Executives Institute (FEI) calls for audit committees of company boards to focus on key business risks by challenging management's assumptions even more than they do today, and ensuring the tough questions are asked -- and answered.On a scale of 1-5, with five being "very effective", survey respondents reported the effectiveness of audit committees at a somewhat unfavorable 2.1 rating.
A&A

The Seven Risk Factors In Successful Mergers

William Case is the founder of Integrated ChangeWare Systems, a company that specializes in merger integration, multiple organization roll-ups, and strategic change. In a workshop presented for AccountingWEB, Mr.
A&A

Tax-Saving Tactics for IRAs

Many CPAs and accounting professionals provide advice to clients on the virtues of investing in long-term IRAs. But how do you explain the tax ramifications for heirs to an estate in plain-speak?Some measures can be implemented to prevent Federal estate tax, and Federal and state income taxes from taking up to 75 percent of investments.
A&A

AICPA Teams Up With Fidelity Investments

The American Institute of CPAs has announced an exclusive arrangement with financial giant Fidelity Investments Brokerage Group to provide services and support to AICPA members who are building investment advisory practices.Fidelity will be the exclusive provider of custody and clearing services for the AICPA's Center for Investment Advisory Services.Fidelity will provide brokerage services, training, business development assistance, back-office support and ongoing CPA market developme
A&A

M&A Activity to Increase in 2000

Merger & acquisition (M&A) activity hit record levels in 1999. According to a forecast by the Transaction Services group of PricewaterhousCoopers, M&A activity could increase even more dramatically in 2000.Several factors will drive the growth. First, there’s a lot of money out in the market that will make M&As easy. There is an unprecedented supply of capital right now. Second, in business circles, a lack of growth will be punished – growth will become the new indicator of success for companies.
A&A

Who Wouldn't Want to Retire Early?

In the wake of new Social Security Administration figures that tell us there will be an increasingly smaller percentage each year for government checks once we reach retirement, everyone still has early retirement on the brain.A poll conducted by the International Longevity Center and Harris reported that 25 percent of workers, ages 25 to 29 expect to retire before 55; however, history has shown that once this group reaches their 40s, reality hits, and less than 10 percent think 55 still is realistic.So how do you retire early?
A&A

Microsoft CFO Resigns to Join Start-Up

Popular Microsoft CFO, John Maffei, has resigned his postion to join a Vancouver, B.C. start-up called Worldwide Fiber, Inc., a company that manages fiber optic networks for its clients.Maffei will be replaced by John Connors, who has been with Microsoft for 11 years.Maffei leaves behind a legacy, known best to the media and shareholders, as a very conservative view of Microsoft revenues.
A&A

Sage Posts 60% Increase in FY Earnings

The parent company of Sage, makers of the line of popular accounting software like DacEasy, Acuity and BusinessWorks, has just announced a 60 percent increase in income over the previous fiscal year with revenues just shy of $500 million. The Sage Group's fiscal year-end was Sept.
A&A

Outsourcing Conference Ideal for CFOs and Financial Leaders

Creating solutions outside your company for integration with current processes is the basis of "outsourcing." Thanks to the push by companies across the globe to make the outsourcing more than just a trend, this business tool is as hot as its ever been.CFOs will want to take note of the next World Outsourcing Conference, Feb. 21-23, 2000 at the Disney World Yacht and Beach Club Resorts in Orlando, FL. This marks the third year in a row for the conference.Speakers from around the globe will speak to best practices and operational concerns.
A&A

Many Companies lax on Finalizing Budgets

Many CPAs and accounting professionals provide consulting services to companies on helping them with their budgets. However, many professionals this year may find that their clients are behind the eight-ball when it comes to finalizing their 2000 budgets.A new benchmark study by KPMG reports that among 300 companies who reported budget data, many companies who usually complete their budgets in September are running behind, with some budgets taking as long as 20 weeks to prepare.The reason is attributed to several factors, according to experts.
A&A

Brush up on the Roth IRA

What are the tax-saving advantages of the Roth IRA?This relatively new savings vehicle is ideal for the younger set because it enables a person to invest in the long-term for retirement, with the money growing on a tax-free basis.Even though most everyone qualifies for a typical IRA, the Roth is better for a younger investor because money grows tax-free rather than tax-deferred.
A&A

Comerica & ADP Offer Discounts on Payroll Services

Many CPAs and accounting professionals call upon payroll services giant ADP to fulfill their client and employer pay systems. Now, ADP has announced it will collaborate with Comerica Bank and Goldman Sachs to provide payroll and employment services to small businesses.What does this mean to the accounting world? Three of the giants in financial services have taken over services that CPAs provide to clients everyday.
A&A

Best Buy Adheres to SEC Guidelines

Well-known audio/video and computer retailer Best Buy has surfaced as the first-known company to respond publicly to the SEC's new accounting guidelines that, in most cases, organizations must report income derived on the sale of extended warranties over the life of the warranty rather than at the time of the sale.The SEC also is requiring issuers of warranties to go one step further by making the sales net commission revenues.
A&A

Forbes Spotlights 200 U.S. Best Small Companies

We promise this story will make you feel "young," at least in the world of small business and the rash of online companies.Who made the grade on this year's Forbes' Hot 200 list of small companies in America?You'll be surpised to find out. Among the biggest surprise is that there are no "dot.com" companies on the list.
A&A

Can you Guess the Financial Innovations of the Last Century?

What do you think is the most impressive financial innovation of the 20th Century? If you said credit cards, then you're in line with others who also think this is the niftiest invention of the last 100 years.Kiplinger.com conducted the poll of its readership to determine which products, services and innovations had the most impact on personal finances.
Practice Management

Tips for Timely Collections

Most of us would rather buy a new car or go to the dentist than deal with overdue collections. Although we are numbers-oriented, we fall flat when it comes to taking the initiative to collect what's due.The trick is to act fast. For example, if a receivable is just one day overdue, call immediately to find out if something went wrong. There may be a very good reason, or the sender may indeed be tardy for no good reason.Still, acting quickly will jog the sender's memory and should help with collections.
A&A

'Tis the Season to Ship - Who's the Cheapest?

In this supersonic age of getting it there on time with few moments to spare, which of the mailing services is the most economical?Kiplinger.com decided to test the waters by sending a 10- pound fruitcake across the United States. They surveyed various overnight carriers as well as the U.S. Postal Service.The results? They found that the service was mostly the same around the country, but found that the U.S.

Pages


Already a member? log in here.