News

Tax

Effect of Marriage Tax Cut on $1.8 Trillion Surplus

Last week's vote to send tax cut legislation for married couples to the White House for consideration has fueled yet another battle between Democrats and Republicans in a very important election year.Democrats who voted against ending the marriage tax penalty are concerned that the passing of the tax cut will use up all of the projected 10-year, $1.8 trillion surplus.
Technology

Does Your Boss Read Your Email?

To date, courts have upheld an employer's right to monitor an employee’s email because the employee is using the employer’s computer equipment on the employer’s time. Employers are not required to inform employees of their intent to monitor email, voice mail, and other communications which may include personal content. However, members of Congress are considering legislation that would require employers to advise employees of their intent to monitor such communications.

Hiccup Discovered in Microsoft Outlook

A South American lab has discovered a problem with Microsoft’s Outlook and Outlook Express: Individuals can access a remote computer by sending an email to the recipient resulting in myriad problems of which the receiver may not be aware.

AccountingWEB Leads the Accounting Profession in a Fight Against Diabetes

AccountingWEB culminates its month-long diabetes awareness program with a bicycle ride for the American Diabetes Association around the Indianapolis Motor Speedway.
Tax

Marriage Tax Bill Goes to White House

The Republican-controlled House and Senate have reached agreement on a marriage tax relief bill that would provide a more fair income tax rate for married couples where both spouses work. The bill changes the standard deduction for married couples to be twice the standard deduction for unmarred taxpayers, and this change would be retroactive to January 1, 2000.In addition, the bill provides for a change in the tax brackets so that single or married, the tax on income is the same.
A&A

Big Blue Poised to Turn PC Profit

Better than expected 2nd Quarter earnings encouraged IBM to remain confident that its ailing PC division will turn a profit by the end of the year.The Personal Systems division includes notebook computers, desktop PCs and low-end servers. Since 1998, the division has lost $1.5 billion.The report was made by IBM's CFO John Joyce in a statement connected to the release of the earnings, who said the company's change in business strategy and product focus seems to be working.
A&A

Tech Geeks and Dotcom Investing: Marriage or Divorce?

A recent survey conducted for US Trust of the richest technology professionals confirmed that wealthy Americans working in technology maintain their opinion that dotcom stocks are still a viable investment.The survey was conducted in the Spring when most of the technology stocks fell dramatically.
Community News

Andersen Names New Chief Exec

The latest personnel change at Big 5 firm Arthur Andersen truly signals another step for the firm in changing its business philosophies and operating strategies.Andersen created a new position called 'chief executive,' and named Terry Hatchett to take the post. He will handle strategic and management issues while he shares this position with Managing Partner Jim Wadia, who is the firm's current CEO.Hatchett most recently headed up Andersen's Asia Pacific practice.

Excel Tip: Alphabetizing a Column of First and Last Names by Last Name

How many times have you entered a list of names, first and last name in the same column, like this:Joe SmithMargaret HowardSherry AndersonMichael WilsonMeredith Morganand so on……only to find that you need to alphabetize the list by last name. Do you have to re-enter the entire list so that the last name appears first? Here's a quick method for sorting a list like the one above by last name.The process involves separating the text into two columns, one for the first name and one for the last name.
Tax

Congress Votes to Change the Way We Look at Taxes

The week in Washington was anything but dull. Nearly every day we were presented with a new, more glorious bill and a gaggle of vote-hungry representatives and senators eager to vote 'yea.' There isn't a single issue here that won't please most of the American public - so why is it so likely that so few of these measures will actually make it into law?Marriage Tax Penalty. There are bizarre rules in the Internal Revenue Code that make it possible for two people to earn the same income at the same job but pay vastly different income tax on that income due to their marital status.

AccountingWEB Weekly News Wrap-up - Issue 52

The AccountingWEB Friday Wrap-Up Newswire - Issue 52July 21, 2000Logon to http://www.accountingweb.com for more resources.Don't know your membership logon details?

Stephanie Leon

Stephanie LeonSales & Support ManagerResults Accountants' SystemsI'm another East Coast transplant, born and raised in northern New Jersey. After completing my MBA at Seton Hall University I packed my bags and moved to the West Coast. At this time I thought long and hard about what I really wanted to do with my professional life.

Summer Reading for the Business-Minded

Business Week has gathered input from business professionals and business professors, and as a result has compiled a list of recommended business books that, as a group, capture the essence of the business world as we know it today.Recommending the books are 28 business professionals and professors, including Jeff Bezos, CEO of Amazon.com, Philip Kotler, professor of International Marketing at the Kellogg Graduate School of Management at Northwestern University, and Bob Pittman, CEO of America Online.

Robert Half & IMA Team for Member Benefits

As part of a long-term strategy to help its members with career development, the Institute of Management Accountants has just announced that it has entered into an agreement with HR giant Robert Half to offer IMA members a multitude of career placement benefits.Half will be known as the IMA's 'National Career Partner' for the organization's 70,000 members and 300 chapters.At the present time, Half is scheduled to develop electronic access to job searches and resume postings, an IMA-member only career assessment tool, a
A&A

Alaska Airlines Suffers From Accounting Rules

Due to a Securities and Exchange Commission change in accounting for frequent flyer mileage, the parent company of Alaska Airlines will suffer a cumulative adjustment of $56.9 million for the years prior to December 1999.As a result of this change, the troubled airline - known as the 10th-largest carrier in the United States, will see an increase of $1.7 million in the first quarter 2000 loss.The accounting change calls for deferring recognition of a part of the revenue from the sale of mileage credits until passenge

AICPA, et. al. Form E-Security Measures

Cyber-security is at the top of the agenda on many minds, and the Federal government has taken the initiative to meet with top-level, influential organizations to form risk management and insurance guidelines.Not surprising is the fact that one of the groups is the American Institute of CPAs.
Tax

Third Time’s a Charm on Tax Legislation

The House voted 401-25, which of course means that Republicans and Democrats alike are in the same camp on this one, to increase the annual contribution limits to the nation’s most popular retirement plans, the IRA and the 401(k).
Technology

AICPA Loses Peck to Dot-Com

Charles Peck, the Senior Vice President of Marketing, Product and Organizational Development at the AICPA, has been tapped to become Chief Executive Officer of TheGlobe.com, an online community network and service provider, effective August 1, 2000.While at the AICPA, Peck led the re-engineering program that helped the Institute realign itself into a performance driven team based organization.During his tenure at the AICPA, Peck was also involved in spearheading several strategic acquisitions, initiating process improvement programs, and forming over
Community News

7 Firms Combine to Form 13th Largest CPA Firm

The principals of seven highly successful professional services firms have merged their ownership stakes to form Centerprise Advisors, Inc., the 13th largest professional services firm in the country and one of the largest full-service firms focusing on the middle market.The founding companies include five professional services firms: Follmer, Rudzewicz & Co. of Southfield Mich.; Grace & Co. of St.
Tax

Tax Accountants Missing the e-Mark

A survey conducted by KPMG of leading Fortune 1000 companies showed that 51% of the companies agree that e-commerce will lead to increased competition over the next three years.

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