3,500 Trades on Schedule D!

How many CPAs have ever seen a tax return with 3,500 trades on Schedule D? In this escalating time of the "day-traders," more and more accounting professionals may one day be faced with a similar situation.David Goehl is a 31-year-old, self-employed lawyer, who traded 3,500 times in 1999 for a net profit of $85,000, which averages to trades worth about $1,000 per day after taxes, commissions, rent on the apartment where he performs the trades and even a portion of his cable service.Schedule D is often difficult for any tax preparer given a small number of trades, let alone 3,500.

AICPA Seeks Volunteer Testers for Online Exam

The American Institute of CPAs has issued a call for volunteers to test questions that may be included in the future online CPA Exam. AICPA is considering the online exam to replace the old paper-based format to more accurately reflect the CPA environment by testing on day-to-day issues within the CPA profession.Participants will provide feedback to AICPA on their exam experience, levels of difficulty, practical applications and more.

IRS Fails Audit

The IRS needs a good accounting firm. According to congressional auditors, the governmental agency is doing a lousy job of keeping its own books. Although the IRS improved a little last year, the General Accounting Office reports that the IRS continues to give improper refunds, is slow when it comes to fixing errors affecting taxpayers and is vulnerable to computer security issues.

Beating Busy Season Stresses Idea Exchange

Looking for some ideas to combat the stresses of busy season? Scroll through the transcripts below and find out what others are doing to reduce burnout this time of year. Add your own comments to the bottom of the transcript and contribute your ideas too!Session Moderator: Good afternoon! Thanks for joining us on our first round table discussion!More accounting magazines are reporting on things accounting firms are doing to help accountants beat the stress of the tax season.

NAEA Members Will Receive Discounts on Popular CCH Products

CONTACT: MARY DALE WALTERS 847-267-2038 NAEA MEMBERS WILL RECEIVE DISCOUNTS ON POPULAR CCH PRODUCTS(RIVERWOODS, ILL., February 28, 2000) ¡V CCH INCORPORATED (CCH), a leading provider of tax and business law information and software, said today that it has signed an agreement with the National Association of Enrolled Agents (NAEA) to provide member discounts on two of the company¡¦s popular tax research products and an authoritative new journal for those representing clients before the IRS. Under the agreement with the NAE

Financial Consulting Group Grows Leaps & Bounds

The Financial Consulting Group (FCG), an organization of CPA firms delivering business valuation and litigation services, realized a 50 percent growth in member firms during the last quarter of 1999.There now are 56 member firms in 26 states and Canada. The Group has combined business valuation/litigation revenues of $35.4 million and overall combined revenues of $163.6 million.According to Larry Cook, CPA/ABV, this explosive growth was realized, too, in just the first year of operations.
Technology and Form Alliance

It was announced Monday that and have formed an alliance to offer 401(K) and 403(B) services to providers and is a consulting practice run by Jim Scott that provides financial-related services to a variety of start-up and young technology companies and clients, while ExpertPlan, run by Winthrop Cody, is an Internet-based provider of retirement plan offerings.The gist of the new arrangement is to provide retirment plan services with complete recordkeeping in the

Cap Gemini Merges With EY Consulting

For months, it has been speculated that Cap Gemini would merge with Ernst & Young's consulting practice. Now, the word is that the alliance is official.The deal is reported to be worth approximately $11.13billion.
Community News

McCracken Named Chief of Deloitte Consulting

As expected, Douglas M. McCracken was tapped to fill the chief executive post at Deloitte Consulting.

New CFA Review Course Available

A chartered financial analyst (CFA) review course for professionals preparing for the CFA examination is now available through Becker Conviser CPA Review. The new course offers courses in Chicago and New York beginning in mid-March.The pros at Becker Conviser understand that professionals are busy and have tailored the new offering to feature e-learning tools and flexible schedules. Each student will be able to tailor content to specific learning needs and can access Web-based tutorial sample problems via the Net.

Transitioning from Corporate to Private Sector

If you had to choose your dream job, what would it be? For 48-year-old A. Lee Shull Jr., it was leaving behind the corporate life for private enterprise, although he retained his core competencies along the way.Shull is director of operations for Resources Connection, a Santa Anna, CA-based company offering contract accounting assistance to companies and organizations. Resource Connection was started in 1996 by a former Deloitte & Touche executive.

PwC Fights Back

Media reports have indicated that the SEC alerted 52 of PricewaterhouseCoopers’ (PwC) clients about independence infractions that could affect the integrity of financial statements issued by the Big 5 firm.

AccountingWEB Weekly News Wrap-up - Issue 31

The AccountingWEB Friday Wrap-Up Newswire - Issue 31February 25, 2000http://www.accountingweb.comIn the news this week:1. More Online Troubles For H&R Block2. Solving Employee Internet Abuse3. Steve Jobs Flies High; CPAs Disagree On Bonus Classification4. First FAS 133 Compliant System Hits The Market5. Top Ten Ways To Protect Your Website -- and Your Clients'6.

Software Tip: Uncover The Secrets of Microsoft Office

You've got to hand it to the folks at PC World who are always looking for new ways to improve the efficiency of today's modern Microsoft Office software user. Follow the link below to review their list of the "Top Ten Office Features You Don't Use (But Probably Should). It's worth a look, and you might even learn something. Go to the page.

Press Releases Trade Secrets

I just had to giggle when I attended a recent “Meet the Press” meeting in my large metropolitan city. There were lots of “do this, but don’t do thats" floating around the room. If anything came out loud and clear it was that reporters are busy. I know that’s not news to you or me – after all we are busy too – but reporters are living in a warp-speed world. They are living in the Internet world where time goes seven times faster than for those of us on the ground.

'Short' Surveys at Colorado CPA Society

All of us can learn a lesson on how to survey members, clients, staff and others via the Internet by taking a look at some of the useful, fun ways to accomplish this often burdensome task.Why not have a bit of fun and learn something useful at the same time?The Colorado Society of CPAs conducts online surveys, called "Survey Shorts" through its home page, featuring a pair of red polka-dot boxer shorts as a link to the survey.The current survey is designed to inform Society staff on how well the organization delivers information on CPE to membe
Community News

PWC Troubles Continue: Compaq Leaves

Texas-based Compaq Computers has left auditor PricewaterhouseCoopers, and have gone with Ernst & Young, although Compaq reports there never were any problems in having PWC as its auditor.Compaq reportedly was asked by the Securities and Exchange Commission to change auditors, based on the ongoing investigation of independence issues within the halls of PWC.While the SEC requested the change, Compaq's board of directors also decided to change auditors based on what the company refers to as "the principle of independence."There is no indication at thi

CPAs Fight for Hunger in Washington State

An CPA-related effort across the state of Washington will help fill the shelves of food banks from now until April 15.Called "Operation Can Hunger," the Washington Society of CPAs is encouraging its chapter members to solicit non-perishable food items and cash from their clients while they are performing tax services.The Society capitalized on this effort after realizing that food banks typically have fewer supplies after the first of the year due to dwindling contributions.

Deltek Releases GCS Premier™ — A Comprehensive Accounting Solution Designed for Small to Mid-Sized Government Contractors

New Solution Features Built-in Compliance with Defense Contract Audit Agency and FAR Requirements McLean, Virginia – February 24, 2000 – Deltek® Systems, Inc. (NASDAQ: DLTK) ( Deltek Systems today announced the general release of GCS Premier™, a comprehensive DCAA and FAR compliant project and financial accounting solution especially designed for small to mid-sized government contractors.

Tax Cut Implications from Capitol Hill

The fight is on (again) in Washington, D.C. as Republicans rally to invoke a 10-year, $182 billion tax cut.Among the issues addressed is the often-discussed Internet tax, a tax on goods and services sold over the 'Net.


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