Bi-Weekly Business Bullet
THIS ISSUE'S NEWS THEME:
Take stock of your firm and use
down time in the summer to make necessary improvements.
Psychology of Success
All successful entrepreneurs have a number of attributes in common, none of which is at all magical. The Harvard Business Review published an excellent study of entrepreneurial qualities by Geoffrey A Timmons. He came up with nine such assets.
Solo 401(k) plans - great benefit for the sole proprietor
Solo-401(k) plans, designed for the sole proprietor, the proprietor's spouse, and partnerships whose only employees are self-employed partners and their spouses, are now permitted to offer participants flexible savings accounts with an after-tax Roth option as well as the traditional pre-tax option.
Checklist for the sale or acquisition of a closely-held company
All sales and acquisitions of closely-held companies share a general sequence of activity from inception to consummation. Although each aspect warrants comprehensive discussion, the following is a checklist and general summary of the most material aspects warranting attention.
Shifting your firm's culture: Wet Noodle or Deliberate Destiny?
If your firm has any of the symptoms listed below you 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.
Recommended strategy: Steer clients into new AMT-free funds
The alternative minimum tax (AMT) continues to hit hard at taxpayers from all walks of life. Here are some strategies for helping your clients circumvent this tax.
Hot Topics
Mellon Bank reaches settlement over lost tax returns and checks
Supreme Court inaction could change nexus rules
Tax Analysts to provide free resources for accounting professors and students
2007 Best small and medium companies to work for in America
Supreme Court to hear case on deduction of fees for investment advice
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Publisher's Note
Accountants and accounting firms often use the summer months to
look at themselves and their firms, take stock of their
progress, and work on five and ten-year plans. Some of our
stories this week lend themselves to helping with that self-
analysis. And by all means, read the story and listen to
AccountingWEB's "Shifting your firm's culture: Wet Noodle or
Deliberate Destiny?" podcast here. And
remember, our podcast changes every Monday, so check back at
AccountingWEB.com each week for a new Weekly Earful!
Rob Nance
Publisher
publisher@accountingweb.com
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