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News

What a Surprise! Boomers Will Drain Federal Budget

The General Accounting Office announced Tuesday that today's projected budget surpluses will be overwhelmed by the baby boom generation when it hits retirement. "Without a change in entitlement programs, demographics will overwhelm the surplus and drive us back into escalating deficits and debt," said David Walker, comptroller general.Mr.
A&A

Financial Planner Tops List of Best Occupations

According to the Bureau of Labor Statistics, among the estimated 260,000 financial planners in the United States, the average starting salary is $28,000. The median income for experienced planners is $107,000, and some earn as much as $200,000 a year. Planners agree that the CFP's requirements for a broad knowledge of taxes, retirement, estate planning and the stock market are very helpful.
Tax

Tax Tip: Free Help From the IRS

Sometimes when you are preparing your federal tax return, you need a little help. The IRS offers free assistance by computer, telephone, fax, and in person. The IRS can assist you with obtaining forms, publications and answers to a wide range of tax questions. If you qualify, IRS can even help you find free tax preparation.How to get help: Personal Computer - With your personal computer and Internet connection, you can access a wealth of free tax information at www.irs.gov.
Education & Careers

Seeking Financial Aid for College? Check Out These Sites

If you're like most students, you'll probably need some help with college costs. The first step is to apply for federal aid.
Education & Careers

Managing Generation Gaps: Tips for Generation-Xers

As more and more Generation-Xers enter into management positions, companies need to prepare for the inevitable changes, from dress code to working hours.More and more often, these young managers are taking charge of those multi-million dollar projects and even companies, which may rock the boat, so to speak. Below are just a few issues of this trend:Work to live, not live to work - Gen-Xers are very much into measuring performance by output.Pay your dues - Gen-X managers are focused on performance rather than hours worked or tenure.
Technology

Hot ASPs - Communications and Accounting Applications

According to a recent survey by Zona Research Inc., communications, financial/accounting and e-commerce offerings remain the most common types of applications being accessed from application service providers.The survey found that the number one application being accessed was communication applications, followed by financial and accounting applications and, e-commerce. "One measurable benefit of using ASPs is that they allow end users to focus their IT resources on their core competencies rather than worrying about things like whether everyone's e-mail is up and running," said Commi
AccountingWEB Life

Motivating Partners and Staff to Marketing Action, with Allan Boress

Motivating Partners and Staff to Marketing ActionPresented by Allan BoressAllan S. Boress and AssociatesContact aboress@aol.comTuesday, February 6, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.Summary
Tax

Bush Plan Calls for Retroactive Tax Cut

President Bush is wasting no time in promoting his plan for a comprehensive tax cut that would benefit all Americans, slashing the lowest tax rate to 10% and the highest rate to 33%. Recalling the early days of the Reagan era, Bush claims a massive tax cut at this time will stimulate the economy.
Tax

Tax Tip: 1040A Users May Report Mutual Funds Distributions

Some taxpayers with capital gains may now use the shorter Form 1040A. If your only capital gains or losses are capital gains distributions from mutual funds, and you are otherwise eligible to use Form 1040A, you may report these gains on line 10 of the 1040A. If you must use Form 1040 for some other reason, but have no other capital gains or losses, you can skip Schedule D and report your capital gains distributions on line 13 of the 1040, checking the box to indicate that Schedule D was not required.
Tax

H&R Block Launches 'Ask A Tax Advisor'

H & R Block debuted its "Ask a Tax Advisor" service, last week, which enables H & R Block customers instant access to H & R Block tax experts around the country. H&R Block's new "Ask a Tax Advisor" service allows customers quick, customized answers from H&R Block tax professionals for only $19.95 per solution. Using e-mail, live chat or phone, a Block professional will attempt to answer the taxpayer's specific tax questions.

CPA Firm Goodman & Co. Merges with Three Firms

The Virginia firm of Goodman & Company has announced its merger with three firms: Manning, Perkinson, Floyd Company, Collins Forbes and Company, and Hollrah, Bernstein & Funkhauser. The merger will increase the staff size of Goodman & Company to over 400 professionals with 66 partners. "The advantage for these firms is that they will be able to increase their service offerings to their existing clients," said Goodman's regional partner-in-charge Rich Pontyen.
Tax

Revised IRS Form W-9 Available

The IRS form W-9, Request for Taxpayer Identification and Certification, has been revised effective immediately. The new version of the form is available for downloading on the IRS Web site.The primary change to the W-9 form is a requirement that the person filling out the form identify himself or herself as "U.S. Person," as opposed to a "Foreign Person." The phrase, U.S. Person, includes resident aliens.
Tax

Intuit Offers Free On-line Tax Filing

Now in its fourth year, the Quicken Tax Freedom Project provided by Intuit, the maker of Quicken and TurboTax software, offers free on-line tax filing for all individuals and families with adjusted gross income of under $25,000, a $5,000 increase over previous years.Using the TuboTax for the Web software, Intuit is able to provide an interactive question-and-answer process in which taxpayers can enter information about their tax returns.
Tax

Tax Tip: What is Your Filing Status?

Your filing status on your tax return is a category that identifies you, based on your marital and family situation. It is an important factor in determining whether you must file a return, the amount of your standard deduction and your correct amount of tax. If more than one filing status applies to you, you may choose the one that will give you the lowest tax, according to the IRS.There are five possible filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child.
Community News

KPMG's IPO Scheduled for Week of February 5

The consulting arm of KPMG is scheduled to go public the week of February 4, 2001. The stock is expected to trade on the Nasdaq under the symbol "KCIN." KPMG Consulting Inc. and its lead manager for the deal, Morgan Stanley Dean Witter & Co., are expecting to sell 112 million shares at between $16 and $18 apiece.
Tax

New Tax Resource for Mexican Business

If you have clients or subsidiaries who do business in Mexico, a new resource is now available to help navigate the waters of corporate tax planning. WorldTrade Executive, Inc., a leader in publications covering international finance, law, tax and cross-border trade, announced today the launch of its newest publication, "Practical Mexican Tax Strategies".
Tax

Have Tax Return, Need Mailing Address

Anyone mailing federal individual tax returns this year should double-check the mailing address before dropping that form in the mail.
Tax

IRS's Digital Daily Bids Farewell

To taxpayers and tax practitioners everywhere:On January 6, 1996, despite a blizzard and a government furlough, the IRS Digital Daily debuted -- on schedule and well within budget. This grass roots effort was the IRS' first Internet presence and developed by a staff of four. We worked hard with one goal in mind: making it easier for people to get the tax information they need.
Technology

Password-Stealing 'Trojan' Virus Plagues AOL Users

Anti-virus company McAfee.com Corp. is warning AOL users to be on the lookout for a number of password-swiping programs that are making the rounds attached to e-mail messages. McAfee said it has logged an increasing number of such "Trojan" programs among AOL users over the last 30 days. The worst of the bunch has been labeled "APStrojan.qa" and attempts to steal account names and passwords from users of versions 4 and 5 of AOL's software. It then attempts to forward that information to a destination outside the AOL network, the company said.

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