Weekly Business Bite
Featured News
Shifting your firm's culture: Wet Noodle or Deliberate Destiny?
We've all heard the expression, "Making changes in a firm is like trying to push a wet noodle across the table." This is especially true for firms that are busier than ever; the motivation to change just isn't there. Your firm may want to consider some of the best practices applied by firms who have made the transition from pushing the wet noodle across the table to having their staff and clients pull them in a new direction.
ETAAC report addresses IRS shortfalls, recommends future plan
The Electronic Tax Administration Advisory Committee has issued its annual report providing information about the IRS's progress in furthering electronic tax return filing. The ETAAC report includes several recommendations for accelerating the growth of e-filing and for facilitating the delivery of electronic services.
AMT reform options include possible change in SALT deduction
Two U.S. Senators have introduced legislation to completely repeal the Alternative Minimum Tax, without requiring any offset of tax revenue from another source. Another option under consideration includes trading the revenue from the AMT for a reduction in the state and local tax deduction.
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Latest News
IRS Free File program not living up to expectations
Solo 401(k) plans - great benefit for the sole proprietor
IRS wins battle to retain private debt collection
Publisher's Note
This is a busy week of news for the IRS, some good, some not so
good. The Alternative Minimum Tax is on the cutting block, or
at least the trimming block, in the Senate Finance Committee.
Some of the groups that keep tabs on the IRS, the Electronic
Tax Administration Advisory Committee (ETAAC) and the Treasury
Inspector General for Tax Administration, have issued reports
that point to problems in need of repair. The ETAAC report will
be of particular interest to small businesses and tax
preparers. On a positive note, or at least positive if you work
for the IRS, the Service won another round in its battle to
continue using private debt collection agencies to gather up
owed tax money.
Rob Nance
Publisher
publisher@accountingweb.com
Technology News
Computerworld names Grant Thornton IT to best place to work listComputerworld, the "Voice of IT Management," has selected Grant Thornton as the No.15 best workplace for information technology professionals. The Big Four are represented on the list as well.
In-Depth
Checklist for the sale or acquisition of a closely-held companyAll sales and acquisitions of closely-held companies share a general sequence of activity from inception to consummation. Although each aspect warrants comprehensive discussion, guest contributor Richard Flaster provides the following checklist and general summary of the most material aspects warranting attention.
Firm/State
2007 Best small and medium companies to work for in AmericaA joint endeavor of the Great Place to Work Institute and the Society for Human Resource Management provides an opportunity for small- and medium-sized companies to compete for the honor of being named one of the "Best Small & Medium Companies to Work for in America."
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