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Becoming More Market Driven - Getting Closer to Your Clients, with Suzanne Lowe

Becoming More Market Driven - Getting Closer to Your ClientsPresented by Suzanne LoweExpertise MarketingContact slowe@expertisemarketing.comTuesday, February 20, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryWould you like to see how professional service firms are trying to become more sensitive to the marketplace?
Tax

2001 Tax Hints Available On-Line

For many years, several of the IRS Service Centers produced guides for tax professionals in their area. This year, 2001 Tax Hints: Practitioner's Guide To The Filing Season has been expanded into a National Filing Season reference guide for the tax professional community.

E-mail Etiquette 101 - Tips For Better Communication On-line

For some reason, many people forget their manners when using e-mail. It's like what happens to some people when they get behind the wheel of a car. Otherwise mild-mannered drivers utter expletives or make obscene gestures when something doesn't go their way in traffic. E-mail has probably made the biggest impact on business and personal communications since the Pony Express, but it's easy to misunderstand the nature of it. Strictly speaking, it's not mail. AccountingWEB has compiled some basic rules and tips for using e-mail communications.
Tax

Tax Tip: What To Do If You Can't Pay Your Taxes

If this year's tax filing deadline will be a pay day for you and you cannot pay the full amount that you owe, you should still file your return by the due date and pay as much as you can. The IRS may allow you to pay any remaining balance over time in monthly installments through an Installment Agreement or possibly even settle for less than the full amount owed through its Offer in Compromise program.If you find that you cannot pay the full amount by the filing deadline, you should file your return and pay as much as you can by the due date.
Community News

RAS Partners with Texas CPAs to Produce MAP Survey

PLEASANTON, CA (February 21, 2001) – More efficient responses, targeted analysis of results, and no-cost participation by firms and state CPA societies are the key benefits derived from the new partnership between Results Accountants’ Systems (RAS) and the Texas Society of CPAs (TSCPA) for the 2001 MAP Survey.Now in its 26th year, the MAP Survey is an industry-recognized, annual comparison of the services, operations and management of public practice firms across the nation.
Tax

Take a Peek at New IRS Web Site

The new IRS Web site is not yet up and running, but the prototype is available for observation and comment.The Digital Daily will be replaced with a new, more austere design.

More Excel Tips

In a recent workshop at AccountingWEB, author and AccountingWEB Managing Editor Gail Perry shared some of her favorite Excel tips.Workshop sponsored by National Payment CorporationHere are some more of the tips that were discussed in January's workshop event:Placement of To
Tax

Tax Tip: Education IRAs Can Make College Costs Less Taxing

The Education IRA is an incentive to help parents and students save for higher education. Up to $500 may be contributed to a child's Education IRA each year. Earnings on contributions will be distributed tax free provided that they are used to pay the beneficiary's postsecondary education expenses. Any individual who meets adjusted gross income (AGI) requirements can make a non-deductible contribution on behalf of a child under the age of 18. The AGI requirements are $95,000 for single taxpayers and $150,000 for married taxpayers.
Tax

Beware: 'Tis the Season for Tax Scams!

Millions of Americans who are preparing their tax returns this spring have one desire in common - how can we reduce our taxes? Bankrate.com writer, Kay Bell, has compiled a summary of some of the more popular tax scams that attract the attention of taxpayers hoping to save money.

Audit Independence 'a Function of Auditor Size,' say Researchers

Academics have found that larger audit firms are less likely to compromise their independence than smaller ones when providing non-audit services to their clients.And when the provision of non-audit services - and consequently the fee - is relatively high, these smaller firms find it hard to resist aggressive accounting by their clients.The Lancaster University study into non-audit services, auditor independence and earnings management found that the latter's proximity to analyst's forecasts varies according to the size of the fee for Big Five and non-Big Five firms.Pelham Gore, Peter

Accountant Gets Go-Ahead to Sue Employer

A 5'11" 333-pound accountant has received permission from the New Jersey state appeals court to sue his employer for discrimination. The court granted permission for the lawsuit to continue if the plaintiff can produce medical evidence proving that his weight is not a product of "overindulgence and lassitude."Joseph Lally, 46, is seeking restitution on the grounds that he was fired from J.P. Woods Co. as a direct result of his obesity.
Tax

Pavarotti Could Be Jailed for Tax Evasion

Six months after appearing to settle a tax dispute, opera star Luciana Pavarotti has been ordered to stand trial for alleged tax evasion, according to London's Sunday Times.In July, the opera singer agreed to pay £8m in back taxes after a meeting with Italy's finance minister, Ottaviano del Turco.

Buffet Takes Stake in H&R Block

Investor Warren Buffett's company, Berkshire Hathaway Inc., has become the second-largest shareholder in H&R Block. Buffett, owner of Berkshire Hathaway Inc. in Omaha, NE, disclosed the ownership in a filing with the SEC last week. The purchase makes Buffett an 8.43% shareholder in H&R Block with ownership of 7,697,500 shares. Only Fidelity, the mutual funds company, owns a larger stake in the company with a total holding of 8,056,448 shares.It is estimated that Buffett's holding is three times larger than that of co-founder and retired Chairman Henry Bloch.

FEI Exec Details Agenda for New SEC Chairman

Earlier this week, President Bush appointed Laura Unger as acting chair of the SEC. A permanent successor to departing chair, Arthur Levitt, has not yet been named.Phillip Livingston, President and CEO of Financial Executives International, has identified several key issues that are of utmost importance to financial executives.
Tax

IRS Audits Decline as Agency Deals with Cutbacks

IRS Commissioner Charles O. Rossotti announced Thursday that the number of tax returns selected for audit during 2000 decreased by nearly 50% over the prior year. The chances of a tax return being audited during 2000 was 1 in 200, compared to 1 in 112 in 1999. Mr.
Tax

Democrats Respond to Proposed Bush Tax Cut

Congressional Democrats came forward Thursday with their own set of principles that they believe should be applied to any tax cut measures that proceed through Congress.Senate Minority Leader Tom Daschle (D-SD), announced the Democratic plan which contains three basic ideals:The American people deserve a major tax cut.
Tax

Baptist Temple Seized for Tax Evasion

Federal marshals took possession of the Indianapolis Baptist Temple early Tuesday morning in a peaceful exchange. Six supporters of the church, including the church's former pastor, were carried off the property by the 85 deputy marshals who were acting on the authority of the U.S. Supreme Court.The church had been in the news for the past year as a result of a dispute over $6 million in taxes owed to the IRS.

FASB Issues Special Report on FASB Statement No. 140

The Financial Accounting Standards Board (FASB) published a Special Report today that addresses the most frequently asked questions about FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.The report is designed as an aid in understanding and implementing Statement 140, which is effective for the transfer and servicing of financial assets and extinguishments of liabilities occurring after March 31, 2001.
Technology

Tip: Use AutoCorrect to Help Speed Up Your Typing!

If you would like to increase your words per minute, or are required to type long names, words like "Cognitor" that you have to stop and think about or repeat a certain word throughout your document, try the AutoCorrect Feature in Word.The AutoCorrect feature allows you to set up typing shortcuts, so you only need to type in part of the word or a special code such as xyz and Word fills in the rest. For example, if I need to type Employee Retention Survey (referencing a project throughout your document), you can just type ers; then press the SPACEBAR, presto, Word does the rest.
Tax

Tax Tip: Taxpayer Rights a Priority for IRS

The law that required the IRS to reorganize also required the tax agency to include the protection of taxpayer rights as one of its most important values. In its day-to-day operations, the IRS and its employees make taxpayer rights a top priority. This includes explaining those rights to taxpayers, keeping taxpayer information private and confidential and being professional and courteous. Besides what is expected of IRS employees, taxpayers have many other rights. They have the right to have someone represent them before the IRS and to accompany them to any meeting with IRS employees.

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