Practice news

Tax

E-File, Extension Deadline Reminder

The Internal Revenue Service reminds certain corporations with assets of $10 million or more and whose tax year is the calendar year to e-file their returns or file for an extension by the March 15 filing deadline.
Practice Management

Accounting Shortage Increases Outsourcing

Today’s shortage of skilled accounting staff may be widening the need for outsourcing, reports the Ohio Society of CPAs Corporate Focus.Cutting costs is cited as the primary reason for finance and accounting outsourcing, according to 42 percent of those surveyed by FAO Research Inc. Lack of internal accounting and finance staff followed with 33 percent.
Practice

Identity Theft: Do Your Employees Have Too Much Access?

About a month after a woman was hired to help with receptionist duties, accounting, invoicing and filing at a small Midwest shipping company, she started calling in sick.When she was out, packages started arriving that were addressed to unknown recipients. Her boss sent them back. But on another day when the receptionist was out, a delivery person told the owner that one of the reclaimed packages was part of a potential fraud investigation.
Technology

IT Zone Guide to Budgeting Systems

By John StokdykFive years ago, I wrote, "In recent years, budgeting has been getting a bad press." Not much has changed on that front. Budgeting remains an entrenched habit - and some would argue a weak spot - in financial management. Even when companies do embrace the concept of business performance management, suppliers report that the most common inquiry they get is for tools to help customers automate and manage their budgeting processes.
Practice

Can Your Firm Use a Global Payroll System?

As the world becomes more and more a global village, organizations are having a greater presence in countries worldwide and where there are people there will always be a need to pay them and the systems to support this. And as we move to this global village state organizations are looking for global solutions and so are looking for global payroll and HR systems. But does such a thing as a global payroll system truly exist or is it all smoke and mirrors? Would such a system be appropriate or even truly necessary?
Community News

3 RBZ Partners to Share Management Duties

In a strategic move to fuel its steady growth, the Los Angeles-based accounting and business consulting firm RBZ, LLP has named three partners to share the Managing Partner position which Thomas J. Schulte has held for nine years and will complete this July.After careful consideration, the position has been divided into three distinct areas headed by partners, who in addition to continue handling their current client base, will begin transitioning into the roles now.
A&A

5 Practical Steps to Becoming a Sustainable Leader

General Electric. Allstate. Yahoo! These companies share some enviable traits—they’re all household names and they’ve all been in business for years. Not easy to achieve in today’s frenetic marketplace. What do leaders at these companies know that you don’t?They know what it takes to build a sustainable business; a business that will be around for years. According to USA Today, every year, nearly 1.5 million Americans start their own business. If they survive the first three years, chances are they’ll stay afloat.So how do you create an enduring business?
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.
A&A

7 Ways to Keep Employees Focused, Committed to Change

Companies large and small spend millions of dollars each year in order to make change initiatives a success. And yet the results are frequently dismal—changes fail to achieve their objectives, and leaders are left wondering what went wrong. Managers blame change-phobic employees, and employees say leaders didn't manage the change effectively. If you're responsible for driving change, you find all the finger-pointing frustrating and, frankly, unhelpful. If only you could pinpoint where the failure originates, perhaps you could head it off at the pass.Here's some good news.

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