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Technology

Amazon's Downloadable Software Store Open For Business

Amazon has launched its newest product offering, a downloadable software store, where customers can purchase and download software directly to their desktops. The store, which plans to sell software titles from Quicken TurboTax to Norton AntiVirus 2001, flaunts one of the company's inherent advantages over its brick-and-mortar counterparts: the convenience of technology.
Technology

Stock Trading Via OnStar in Your Car – What Next?

General Motors and Fidelity have joined forces to enable drivers to check portfolios, trade stocks and mutual funds while driving down the freeway! Beginning early springtime, market information and stock quotes will be accessible through GM's OnStar in-car communications system. Trading and account features will be available later this summer. Fidelity officials describe the service as the latest in their effort to allow customers to manage their money whenever the spirit moves them.
Practice Management

When Accounting Firms Enter the World of Group Insurance, with Herbert Lichtman

When Accounting Firms Enter the World of Group InsurancePresented by Herbert LichtmanPresident and CEO, GroupWorksTuesday, February 13, 2001 4:00-5:00 p.m. ESTVisit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryGroup insurance presents both great opportunities and great challenges for accounting firms.
Tax

Tax Tip: Tax Assistance for Individuals with Disabilities

If you are unable to complete your income tax return because of a physical disability or hearing impairment, you may get help from the IRS through its Volunteer Income Tax Assistance/Tax Counseling for the Elderly (VITA/TCE) programs, or through a special TDD phone number that is available in both English and Spanish.The Volunteer Income Tax Assistance (VITA) program has IRS-trained volunteers who provide free tax assistance at neighborhood locations such as churches, schools, libraries and community centers. VITA is aimed at those who may find it difficult to pay for tax assistance.

Intacct Raises $21 Million in Funding

PRESS RELEASE: Backing includes new investors Goldman, Sachs & Co, JK&B Capital and returning investors Hummer Winblad Venture Partners and Deloitte & Touche LLP Feb. 13, 2001 (Los Gatos, Calif.)– Intacct Corporation, a leading provider of web-based accounting and related online business services, today announced the close of a $21 million round of investment led by JK&B Capital of Chicago. Another major investor is Goldman, Sachs & Co. Also included in this new round of capital are current investors Deloitte & Touche LLP and Hummer Winblad Venture Partners.
Tax

Planning Opportunities Abound with New IRA Rules

On January 11, 2001, the Treasury issued sweeping changes to the IRA required minimum distribution rules. Typically, when Treasury or the IRS promulgate new rules, taxpayers and professional advisors react apprehensively, fearing the worst, but hoping for the best.
Technology

Send & Receive Faxes & Voicemail From Your Computer

If you travel, or just can't seem to get your faxes out on time or want to track your voicemail more closely, you can try one of the services offered by eFax.com. Free and fee based software downloads are available from eFax.com. Below are a few of the downloads available along with information on each product highlighted. sign up for a personal eFax number.
Community News

Formalized Flextime? The Perk That Brings Productivity

An informative article by, Workforce.com provided some great ideas on how to incorporate flexible scheduling in your company.In 1997, more than 25 million workers varied their hours to some degree, with staggered start times, compressed workweeks, job sharing, and part-time hours, according to the article “Flexible Schedules and Shift Work: Replacing the 9-to-5 Workday?” by Thomas Beers in the June 2000 issue of Monthly Labor Review. But, he adds, most flexible workers alter their schedules on an informal basis.
Tax

New Executive Director of NATP

David Martin has been named Executive Director of The National Association of Tax Practitioners (NATP). Mr. Martin has more than fifteen years of experience with association management and has demonstrated success in marketing, education, and technological innovations.Prior to joining NATP, David was president of Real Estate Rover.com, and COO and Managing Director of the Real Estate Buyer's Agent Council.

Equity Compensation Plans Come Under SEC Scrutiny

The Securities & Exchange Commission has proposed a rule under which equity compensation information will have to be published in company annual 10-K or 10-KSB reports.
Technology

Lotus Notes Inventor Does it Again - New Groove Software!

Ray Ozzie the inventor of Notes software is at it again. Ozzie invented Lotus Notes, one of the most well designed client-server applications ever, and his new program, Groove could be an even bigger deal than Notes was. Lotus Notes was an entirely new way of working—so new, in fact, that few companies understood why they might want Notes. "I can't tell you how agonizing it was," recalls Ozzie.
Tax

Tax Tip: Foreign Income

With more and more U.S. citizens earning money from foreign sources, the IRS reminds people that they must report all such income on their tax return, unless it is exempt under federal law.This applies whether a person lives inside or outside the United States.
Tax

IRS to Step Up Pressure on Non-Withholders

The IRS plans to announce soon its intention to investigate several businesses that have been publicly proclaiming they do not withhold payroll taxes on wages paid to their employees but instead pay their employees 100% of the wages earned.Several companies participating in this tax boycott have declared their anti-tax position on the Internet, listing their names on various Web site

Controversial 'Cognitor' Name Dropped by AICPA

Only the name has changed. The concept is still very much a reality - a new global financial expert that transcends the confining definition of a certified public accountant. Amid a sea of backlash from members of the profession objecting to the strange name, the AICPA has officially dropped the front-runner choice of cognitor as the designation for the global accountant of the future. "There is so much opposition" to the cognitor name, said Judith Trepeck, part of the management team of the global institute working to put this new designation into place.
Community News

Common Mistakes to Avoid When Selling a Business

As Americans we are lucky to be part of the most dynamic economy in the world. Opportunity thrives here and the capacity to succeed is unparalleled. Every day hundreds, even thousands, of new successful businesses are launched, keeping the nation’s economy primed with entrepreneurial spirit. While opportunities exist for entrepreneurs, those individuals who have achieved the American dream – building and owning a successful business - often make mistakes when selling their companies.
Tax

Tax Tip: Should You Itemize?

Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money paid for medical care, mortgage interest, taxes, contributions, casualty losses, and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than the standard deduction, you can usually benefit by itemizing, according to the IRS.The standard deduction amounts are based on your filing status and are subject to inflation adjustments each year.

AccountingWEB Weekly News Wrap-up - Issue 81

The AccountingWEB Friday Wrap-Up Newswire - Issue 81February 9, 2001Members Logon to http://www.accountingweb.com for full access to all our resources.Don't know your Logon Member
Tax

Stealth Tax Act Seeks to Curb IRS

Senate bill 286, "Stealth Tax Prevention Act," has been introduced by Senator Richard Shelby (R-AL) with the intent of keeping tabs on any attempts of the IRS to increase federal revenues with tax increases.Under the provisions of the act, any IRS regulation that seeks to increase federal revenues over current prices or revenues would be subject to congressional review and disapproval within 60 days after the regulation is issued.Sen.
Tax

IRS Modernization Takes Another Giant Leap Forward

The Internal Revenue Service announced Thursday the completion of a cornerstone in its systems modernization effort by successfully consolidating and upgrading its major computer systems. The IRS consolidated 67 mainframe computers spread across 12 locations to 20 mainframe computers in just 3 locations.
Technology

Deloitte Consulting & Oracle Join to Serve Health Care Industry

Deloitte Consulting will expand its current alliance with Oracle Corporation to provide leading edge information management solutions to the health care industry using the ASP hosting model supported by Oracle. Oracle and Deloitte Consulting expect that this new model will benefit both patient and provider by lowering costs of entry and enhancing data collection processing.

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