Most CPAs and accounting professionals know that the alternative minimum tax (AMT) traditionally applies to high-income taxpayers who place monies in tax shelters and other vehicles to avoid an increasingly higher tax liability.However, when framed differently, it also applies to families who have a large number of children. Why? The AMT is initiated when a taxpayer pays in what the government considers too little tax.

Remember when you were in school and craved an internship with a large firm or any size business that would give you solid experience, great contacts and a bit of encouragement?Despite the fact that the press has carried stories of how some students opt for slinging burgers or working retail rather than concentrating on finding a good internship, providing a student with this opportunity is paramount to book learning and a win-win situation for everyone.One of the nation's most popular colleges, Baylor University in Waco, TX, says that internships are once again enviable and cherished.

Boy have times changed. Just 20 years ago, anyone who simply suggested raising property taxes in California would have been driven out of the state ... never to be let back in.Now, a March 2000 ballot will ask voters to make it easer to pass local bond elections by moving from a two-thirds majority to a simple majority vote. In turn, experts believe property taxes would increase as a way to finance bond issues like the building of new schools.The last time California attempted something similar was in 1993.

The financial repercussions of the yet-to-be-defined world of the Internet has caused the Securities and Exchange Commission to seek the help of organizations like the Financial Accounting Standards Board who issue accounting rules.The SEC wants these bodies to tighten the way they require Internet companies to book revenue in an effort to decrease the amount of fraud in Internet companies reporting high or excessive figures.The SEC also reported it has found Internet companies booking revenue for

CONTACT:MARY DALE WALTERS 847-267-2038 mediahelp@cch.com NEIL ALLEN847-267-2179allenn@cch.comTax Legislation Update from CCHTAX BREAKS SAVED AS CONGRESS EXTENDS PROVISIONSAMT Won’t Reduce Impact of Popular Credits(RIVERWOODS, ILL., November 22, 1999) – Congress failed to take a major step forward on taxes this session, but as the year draws to a close, it has managed to avoid taking several steps back, according to CCH INCORPORATED (CCH), a leading provider of tax and business law information and software.

I recently met an Olympic skier. He set the Canadian record for skiing in 1992. His feat was speeding down a mountain at 135 M.P.H. He went from amateur skier to Olympic skier in 5 years. If I make it sound easy, it wasn’t. His was the story of an ordinary skier who became an extraordinary one. The story of his training to replicate competitive skiing conditions and improve performance was incredible, amusing and harrowing.

The announcement earlier this year by IBM rocked the planned benefits world when Big Blue changed their benefits fom a pension plan to a cash-balance plan.Employees working at IBM shouldn't feel they are alone. In fact, more than 325 companies with names like AT&T and Xerox, also have converted to cash-balance plans.Most everyone understands that the traditional pension plan thrives through employee and employer donations for the long-term.

The AccountingWEB Friday Wrap-Up Newswire - Issue 18 November 19, 1999 http://www.accountingweb.comIn the headlines this week:1. Venture Capital Funding Hits The Accounting Sector 2. Turning Gender Differences Into Business Opportunities 3. Arthur Andersen To Attempt Profit-Sharing Mechanism4. Emotional Intelligence In the Workplace5. Free Tax Return Preparation Hits The Marketplace 6. Taking Time To Teach Training Tips7.

You know that old saying, “He who has the most toys wins”? Well, when it comes to IT executive worth, it may not be the one who can buy the most toys, but the one who holds enough stock options to buy the most that wins.One of the people making Inter@ctive Online's list of executives is Jeffrey Bezos. As chairman, president and CEO of Amazon.com, Bezos .reports a modest $81,840 salary.