News

Tax

DC Commuters Receive Federal Stipend

Effective October 1, 2000, up to 200,000 federal employees in the DC metropolitan area are entitled to receive a monthly stipend designed to get them off the highways and onto public transportation.The Metrocheck program, which has provided a $33 per month commuting stipend to 150,000 federal employees since 1993, has been expanded to provide an increased subsidy of $65 per month and to cover an additional 200,000 federal employees.

Save Baby Boomers! Keep Government Surpluses!

In the latest version of the Congressional Budget Office’s (CBO) Long-Term Budget Outlook report, these words of doom appear: “If the government saved all of the surpluses projected over the next decade, serious budgetary problems would not arise until the second half of the century."The first World War II baby boomers, those born in 1947, turn 53 this year, and they are already starting to plan for retirement.
Tax

Roth Risk-Takers Rebuked by Regulators

Remember the confusion when the Roth IRA first surfaced?

The AccountingWEB Team is Expanding

AccountingWEB welcomes Jerry Gaw and Dale DeWitte to the sales team, as we continue to expand to meet the needs of a growing portal. Welcome Jerry & Dale!

Who or Whom? What's a Person to Use?

Did I hear you say "Whom did you say is calling"? If so, we suggest you look into this tip. If you have ever struggled with these little words, you are not alone. The English language is full of quirks and challenges that we encounter every day of our lives. If you want to be noticed as an exceptional writer and communicator, check these tips out to help you make the correct choices.Use "who" and "whoever" when you could substitute he, she, they, I, or we as the subject.Who is waiting? (She is waiting)Who did you say was the chosen employee?

New Accounting Packages Track Contracts to Completion

Several new accounting packages developed by Softrax are designed to automate the contract function by tracking each step involved in the process.Analysts say that Softrax, based in Canton, MA, has hit upon a real niche: the packages are ideal for reporting income to the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB), especially considering the new revenue recognition rules required for software company reports.The programs, which include S
Tax

Could Enrolled Agents Take the Place of CPAs?

The accounting profession is certainly aware of the Enrolled Agent (EA), but is it likely that the EA could some day take the place of the CPA?Not likely, mostly because EAs specialize in only tax. Still, it's certainly worth a look. While there are only 35,000 EAs compared to an estimated half-million CPAs and public accountants, EAs actually report to the government rather than a state board of accountancy.

On-call 24/7: Should you pay or get Paid?

Today's world of beepers, pagers, cell phones and other electronic gadgets have placed many professionals at the mercy of their employers to be ready and on-call 24 hours/7 days a week.That's OK if you understand the parameters involved in maintaining a schedule like this, but how does compensation enter into the scenario? Should you pay your employees for 24/7 access, or better yet, be paid if you have availability around the clock?Barbara Kate Repa, author of Avoid Employee Lawsuits, says that the crux of the matter is common sense.

Steven Siegel

Steven P. SiegelVice President of CPA Channel DevelopmentFiNetrics, Inc.Financial services veteran Steven P. Siegel is vice president of CPA channel development for FiNetrics, Inc. (www.finetrics.com), a new Internet company developing an online Financial EcoCenter for emerging and high-growth businesses.

AccountingWEB Weekly News Wrap-up - Issue 63

The AccountingWEB Friday Wrap-Up Newswire - Issue 63October 6, 2000Members Logon to http://www.accountingweb.com for full access to all our resources.Don't know your Logon Membership Details?Go to http
Practice Management

Practice Management Tip: Use the 'F' Word for Meetings

How effective are meetings within your own office? If you're like most of today's dynamic firms, you are constantly interrupted by telephones, visitors and other nuisances that consistently get in the way.But how do you make meetings energetic outside the four walls of the office?It's time to use the 'F' word when it comes to company meetings or retreats ... that's 'F' for 'FUN,' of course! Meetings can be dull as dirt, unless you use your noggin' to come up with something creative, energizing and most of all, FUN! Creativity can do wonders.
Technology

How Trendy are B2B Ventures?

Any business function attended over the last year to two years has been jam-packed with people talking about the surge of B2B (Business-to-Business) ventures--certainly deemed the next big wave in today's New Economy.Is the interest waning a bit in B2B, or are we at a crossroads in which we are searching for the next trend?The Big 5 firms and their consulting arms speculate over the future of B2B. Deloitte Consulting recently reported that the number of U.S.

Unemployment Reaches 30-year low Mark

We've done it again: the unemployment rate for September matched the 30-year low achieved last April.
Community News

Summers Warns Senators About Impeding SEC Plan

Treasury Secretary Lawrence Summers claims he has knowledge that some Senators, who are remaining unnamed, are attempting to use government spending legislation to thwart the SEC proposal to issue auditor independence guidelines.

Brits Pull Out of Global Qualification Scheme

The Institute of Chartered Accountants in England and Wales (ICAEW) has announced that it will withdraw from talks on the proposed "Cognitor" scheme. The decision came about after the organization heard the negative reaction of training bodies.Institute chiefs canvassed opinions of those likely to deliver training for the global qualification as the need for investment in the scheme became apparent."We talked to the larger training firms to ascertain whether it was a proposition they supported.

Participate in Expertise Marketing Survey

Would you like to see how professional service firms are trying to become more sensitive to the marketplace? Would you like to know the steps firms are taking to become more externally focused, and their early impressions about the effectiveness of their approaches?
Tax

Editor Speaks Out on Congressional Tax Debates

As the 106th Congress prepares to end its final session, I can't help but think back on the major tax-related congressional events of the past year. So much hype about the repeal of the estate tax and the end of the marriage penalty -- huge changes in the tax laws that either directly or indirectly would have affected many Americans for the better and none for the worse. Was it all for political posturing?

Excel Tip: Dealing With Rounding Errors

Have you ever experienced the frustration of displaying a worksheet without full decimal places and having Excel round the numbers for presentation purposes, but if you look closely at the calculations, the displayed numbers don't quite add up?For example, consider this calculation:23.4923.4946.98If you display your Excel spreadsheet without decimal places, the calculation is rewritten like this:232347The answer is technically correct, but who's going to believe it?One way in which you can solve this problem is to request that Excel present the w

Grammar Tip! Accept or Except! Which is Correct?

To be a more proficient writer and proofreader, you will need to be able to identify words that sound alike or are spelled similarly.

Proofreading for Number Errors! 5 or Five?

Questions arise when proofreading numbers-when do you use words and when do you use figures or numbers? Here are a few tips for expressing numbers:Numbers Expressed as Words: Numbers from one to ten. Numbers beginning a sentence. Ordinal numbers expressed in one or two words (twenty-first century / Bill's fiftieth birthday). Street names of ten or less and house/buildings number One (One Park Avenue or 111 Third Street). Ages (unless expressed in years and months) (Bill is fifty / Jill is 2 years and 7 months old).

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