Practice news

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.
Practice

White Paper: 10 Reasons to Outsource Remote Data Protection

In today’s information-driven organizations, the costs to generate, keep available, manage and recover data are staggering. Many businesses today depend on 100 percent data availability to keep mission-critical functions operating. With the increasingly widespread reliance upon data, the costs of interrupted access to data or data losses could financially compromise an organization and, in some cases, leave it no room to recover. The price of downtime is just too steep. 
Practice Management

Clients Seek 2007's 'Dirty Dozen' Scams

The Internal Revenue Service’s release of its "Dirty Dozen", 12 of the most common – and blatant – tax scams offers tax preparers a most wanted list of don’ts and an opportunity to prepare themselves for customers seeking illegal means for lowering their tax liability.Firm owner Kent West, CPA/PFS, from Mooreland, Okla.
Practice Management

Accounting for Employee Health

When Canadian employees at PricewaterhouseCoopers get sick, they can call up a new internal website that offers help and an unusual personal invitation -- to walk into the CEO's office and talk confidentially about their health challenges, reports The Globe and Mail.PwC is not alone in its desire to be recognized as a leader in building a wellness into its culture. Conference Board of Canada surveys reveal that health information and promotion programs are quickly becoming important components of human resource strategies.
A&A

A Conversation With David Maister: The Preconditions For Strategy

Managers build their plans and strategies on the assumption that people in their firm are ready and willing to be team players, acting collectively to create or achieve something in the future.The truth, however, is that these attitudes cannot be assumed to exist. In fact, they may even be relatively scarce. In many firms - perhaps even most - these preconditions for strategy may not exist.It is hard to identify and create buy-in for what the firm should do if there is no strong sense of a mutual commitment and sense of group loyalty and cohesiveness.
A&A

6 Keys To Growing Your Company The Old-Fashioned Way

When the average joe thinks "big corporation," the images that spring to mind are primarily negative: backdating of stock options. . .fat cat CEOs who jet around in luxury while workers barely scrape by. . .huge mergers that spawn both big bonuses (for executives) and layoffs (for lower-level peons). . .companies reporting record profits while cutting employee health benefits. Watch the evening news and you'll see why so many people take such a grim view of the corporate world.
Practice Management

KPMG Tax Shelter Woes Continue

Big Four firm KPMG has received more setbacks in the firm's quest to clear its name of wrongdoing in the much-publicized tax shelter fraud scandal. Judge T. John Ward of the Federal District Court for the Eastern District of Texas ruled recently that Blips, the name of one of the tax shelters created, marketed, and sold by KPMG and the subject of ongoing legislation against 16 former KPMG employees, is not a legitimate tax shelter.Blips stands for Bond-Linked Issue Premium Structure.
Practice Management

J.H. Cohn Elects Four To Leadership Positions

J.H. Cohn LLP, the largest independent accounting and consulting firm in the Northeast, has announced the election of three partners and one principal to its senior leadership team. The Firm named Kimberly Brandley, CPA, Kelly O’Callaghan, CPA, and William D. Pidgeon, CPA, as partners, and Kelly Frank as a principal at the Firm.
A&A

CEOS Make ‘Strong Execution’ High Priority In 2007

As CEOs develop their growth strategies for 2007, a top priority focuses on the strong execution of all major business processes, according to the Grant Thornton LLP Survey of U.S. Business Leaders, 14th Edition. Almost two-thirds of respondents (63 percent) say they are putting more emphasis on strong execution today than a year ago. More than eight out of 10 (83 percent) survey respondents place the quality of execution throughout the organization among their top three priorities.

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