Practice news March 2007

Practice Management

10 Reasons Why Budgets Cause Problems

Beyond Budget Round Table (BBRT), an independent international research collaborative, recently produced a web article arguing that budgets tend to focus on targets based on incremental changes from the previous period."The result is a target that is inwardly comfortable to you, yet appears outwardly difficult to your superior.
Practice Management

New York Consumer Bill Targets Tax Preparers

A bill before the New York Legislature, designed to educate taxpayers about tax preparers’ qualifications, would require the Department of Taxation and Finance to publish a "consumer bill of rights regarding tax preparers."The bill, NY SB 2970, calls for extensive RAL disclosure requirements, but exempts enrolled agents. If passed, the legislation would require that all tax preparers obtain a license from the Department.
Tax

White Paper: Assessing Your System Risks Before Attackers Do

By Stephen Northcutt, Jerry Shenk, Dave Shackleford,Tim Rosenberg, Raul Siles and Steve ManciniWith multi-tier network architectures, Web services, custom applications, and heterogeneous server platform environments, keeping data and information assets secure is more difficult than ever. Coupled with this added complexity is the fact that criminal organizations have organized their hacking efforts; it is no longer just “script kiddies” trying to break into your network.
Practice Management

Minnesota May Publish Convicted Preparers List

The Minnesota legislature is considering an all-encompassing collection of tax measures with several provisions of interest to enrolled agents.
Community News

Carlin, Charron & Rosen Names Platt Providence Partner

Carlin, Charron & Rosen, LLP (CCR), a New England independent certified public accounting and business advisory firm, announced that David Platt, CPA, JD has been named a partner in the Providence office.
Practice Management

West Virginia May Make EAs Exempt from Sales, Service Tax

A bill being considered by the West Virginia legislature would exempt enrolled agents from sales and service taxes. The bill, WV SB 371, proposes that a number of professions – including enrolled agents – be exempted from the state's consumers sales and service tax.A nearly identical bill was introduced last year, but was not enacted. SB 371 has been referred to the Senate Finance Committee.
A&A

Top 5 business internship myths

Most managers carry general misconceptions about internship programs, but, by applying thoughtful planning and the right tools, they can realize their full potential. Z University.org (ZU), a leading advocate of workforce readiness and innovator of internship management solutions, has identified a "top five" list of myths that organizations need to eliminate to get the greatest returns from an internship program. Matthew Zinman, president of Z University.org, says that the "Top Five Myths About Internships" are fueled by managers who believe that:1.
Practice Management

Mid-size British Practices Face Closure Crisis

Staff retention problems, partner succession issues and burdensome regulation is threatening British mid-size accountancy firms with almost three quarters fearing for the future, new research warns. The study by practice management experts KATO Consultancy said 72 percent of independent British firms were worried about their continued existence. Staff retention difficulties was the most popular issue cited by respondents, while many said they were struggling to attract appropriately skilled potential partners for their practice.
Community News

Crowe Chizek Ranks Among Top 10 SEC Firms

Crowe Chizek and Company is one of the Top 10 Securities and Exchange Commission (SEC) accounting and consulting firms, according to Public Accounting Report (PAR). PAR, a widely circulated independent publication covering the public accounting profession, ranked Crowe seventh in the 2006 survey based on U.S. SEC net revenue. For fiscal year 2006, which ended March 31, 2006, PAR reported Crowe’s net SEC revenue of $83.1 million up 42 percent since the prior fiscal year. “It’s an honor to be ranked among the nation’s top 10 SEC firms,” said Mark Hildebrand, Crowe CEO.
A&A

5 Relationships Every Entrepreneur Must Nurture

You've probably heard it said that entrepreneurs are "married to their work." It's true. Running a company requires amazing quantities of time, energy, and devotion. But there is one big difference: while matrimony is all about maintaining a healthy relationship with another person, being married to a business is all about maintaining healthy (and profitable) relationships with several groups of people.
Education & Careers

5 Reasons Why Demand for Accounting & Finance Pros Will Intensify

Ron Blair, managing director of Century Group, a professional services firm specializing in executive search, professional recruitment and independent project and interim services in accounting, finance, audit and tax believes a demand for accounting and finance professionals will carryover into 2007.Blair listed the following factors contributing to the high demand for finance and accounting professionals:1. Increased utilization of accounting and finance professionals on a project or interim basis if companies delay hiring plans during an economic downturn.2.
Community News

IRS: Preparers Miss 4.8 Million Phone Refunds

The Internal Revenue Service reports more than 10 million early filers did not request the one-time telephone excise tax refund. And nearly half of those returns — more than 4.8 million — were completed by a tax preparer.In the first release of this year’s weekly filing season statistics, about 30 percent of all taxpayers did not request the telephone tax refund.“Many taxpayers are overlooking this special refund and the chance to get a bigger refund,” IRS Commissioner Mark W. Everson told IRS e-News for Tax Professionals.

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