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January 8, 2009

Publisher's Note
Our goal at AccountingWEB, Inc. is to give you timely and targeted information and resources, designed to assist you in your daily accounting life. In this issue we're addressing the controversy surrounding the alleged Bernard Madoff Ponzi scheme and how it affects members of the accounting profession. AccountingWEB is an active accounting community; we invite you to be another active voice. You may do so by posting comments and the like in our Questions & Advice section, Bloggers Crew and at the bottom of each and every article. Chime in! You may even do so anonymously.

Accounting certainly remains an exciting and challenging field--even more so these days.  Take part in what we have to offer and have a productive, rewarding January!

Rob Nance
AccountingWEB, Inc.

Pigs, Productivity, and Purpose

Bernie Madoff's Blog

How Fluid Is Your Office?

Time Management During Busy Season

Questions & Advice

How do I book the value of a cruise received?

We are a home builder. The lumber company gave one of the LLC members a cruise based on lumber purchases for the year. They issued a 1099 in our company's name. How do I book the $8,500 value of the cruise?
Add your input!

Worker's Compensation

I have a sole proprietorship, and have been told 4 years ago that I needed Worker's Compensation coverage on myself and my subcontractors. I have personal health insurance, and so do the subcontractors that I have do work.... The only reason I see to have workers compensation is so that if I would get hurt they will pay a percentage of my wage plus medical expenses, and that if I had employees I would be required to have it. But I do not.
Share your suggestions today!

Featured Jobs
Core Business Credit
Dallas, Texas

Senior accountant
Preszler, Larner, Mertz, & Co., LLP
Aberdeen, Washington

Featured links
Take a QuickTour of PPC’s Tax Practice Aids and Workpapers
Free Webcast - Tax Talk Today, The Tax Show for the Tax Pro
Upcoming Accounting Conferences & Events
Top News

Prosecutors want jail now for Madoff

Bernard Madoff, arrested December 11 after allegedly confessing to running a $50 billion Ponzi scheme, may now face jail pending his trial, as prosecutors say he violated a court agreement by mailing jewelry and other valuables worth more than $1 million to relatives and friends. more >>
Advising clients in the wake of Madoff revelations
Madoff victims may recover some losses
How to avoid investment schemes in the future
Growth of CPA financial planning practices is subject of AICPA study
10 Tips for choosing a financial planner
Click Here
Take a QuickTour of Checkpoint Tools – PPC’s Tax Practice Aids and Workpapers

It’s easy to implement Checkpoint Tools into your existing tax preparation workflow.  It conveniently works with Word and Excel formats, eliminating the learning curve and the need for manual copy, and paste, and review of information or formulas.  Take a QuickTour of Checkpoint Tools today!
Featured Articles
A Conversation with Russell Secker: Leader of First Research

He's a true globetrotter... in more ways than one. Russell Secker is currently the leader of First Research based in Austin, Texas and Wilmington, North Carolina. But if you call him, don't expect a slow southern drawl. He's a Texas transplant with a British accent and a brisk but friendly way about him. Spend a few minutes in conversation with him and you realize that, whatever the subject, Secker can probably sift through all the chaff and quickly arrive at the key points. more >>
A look back at famous tax cheaters of 2008
IRS releases final Form 990 and instructions
Tax Talk Today The Tax Show for the Tax Pro Free Webcast Sponsored by the IRS

Next Program
Getting Ready for the Filing Season 2009 - Individual and Business Tuesday, January 13, 2009, 2:00 p.m. to 3:40 p.m. ET Special 100 Minute Program & CE Credits Offer - Buy One, Get Two

More Program Information
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Firm/State/People News
Marcum & Kliegman LLP forms Madoff task force

Marcum & Kliegman LLP has announced that it has formed a task force to advise investors who may have been defrauded by Bernard L. Madoff and his investment business, Bernard L. Madoff Investment Securities LLC. Marcum & Kliegman's task force will focus on the tax and accounting as well as the non-tax issues facing those who invested with Madoff and his firm. more >>
UHY remembers the doggies during the holidays
Massachusetts CPA named treasurer of Young Professional Society
Gail Perry's Book Page

Gail Perry is a CPA, financial journalist, the author more than 20 books on financial software, taxes, and personal finance. She is the managing editor for AccountingWEB, a contributing editor for SMBFinance magazine, and an instructor.

Lorman Lecture Hall

The Lorman Lecture Hall provides you with up-to-date information on upcoming teleconferences to help you stay on top. Most courses offer an opportunity to earn CPE.

Visit for a complete list of courses.

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