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MARCH 4, 2008


Budgeting Basics Part IV - Incorporating tax benefits into your budget and using your budget
This is the last in a four-part series. In this installment we discuss certain types of every-day expenses that might produce tax benefits that can have the effect of lowering the expenses in your budget. In addition, we'll talk about how you can actually use your budget.

With increased scrutiny on preparers comes more questions for taxpayers
Tax preparers: Beware the client who says he has those receipts "somewhere." It's no longer okay to take his word for it. Tougher standards mean more scrutiny of taxpayers' assertions, and some preparers are charging more for the extra time.

IRS explains myths and facts about economic stimulus rebate payments
Amidst ongoing confusion about the impending tax rebate payments, the IRS has provided this list of myths vs. facts to help clear up questions and protect taxpayers from becoming victims of scams.

Firm/State News

Honolulu firm rebrands to bring in new clients and recruit employees
In an effort to appeal to new, younger clients, and recruit future employees, one of Hawaii's leading CPA firms has changed its name and designed a new logo. Nishihama & Kishida CPAs is now N&K CPAs. The new logo - contemporary script against a background of shades of vivid blue - is intended to convey a "fresh new look," according to Managing Principal Alton Miyashiro, Pacific Business News reports.


What have you got to say today?

Eva Lang:
aka BV Girl
Factors Facing the BV Profession

Things never stay the same for long. That is certainly true in the world of business valuation. What factors are affecting the valuation landscape today? According to Kevin R. Yeanoplos, CPA/ABV, Chair of the AICPA ABV Credential Committee, they include....

Bill Kennedy, CA.IT, PMP:
Energized Accounting
The PMI is getting more Agile. Should you care?

If you are having custom programming done on your accounting system then you should be aware of a new style of system development called Agile. The Project Management Institute has begun introducing elements of Agile development into its Project Management Book of Knowledge (PMBOK), the bible of project management. This is a good thing...

Editor's Note

My banker contacted me over the weekend and suggested we look at my mortgage and consider refinancing. He talked about the drop in bond rates last week and the ripple effect that this might have on mortgage rates. He said there might be a small window of opportunity this week for locking in a lower rate on a long-term mortgage. All this made me think about the fact that I used to deal with a really big bank, a bank where nobody knew me and I never got the same person on the phone twice. That bank would never have taken the time to contact me, and certainly not over the weekend, nor would they bother to explain in detail how the market changes might affect me personally. Whether I refinance or not, this experience just drives home the fact that personal service is what we all crave. I'll never change banks, not as long as this gentleman is working there. Call your clients, contact your customers, and build loyalty by letting them know you really are looking out for them.

Gail Perry, CPA
Managing Editor

Tech News

Microsoft announces worldwide availability of Office Live Workspace
Microsoft Corporation has announced the public availability of Microsoft Office Live Workspace beta, the new Web-based extension of Microsoft Office that lets people access their documents online and share their work with others. Office Live Workspace was among the first entries in the new wave of online services in Microsoft's software plus services vision previewed last fall.

Student News

Financial security is most important issue to Gen Y
What career issues keep Generation Y professionals awake at night? When asked to name their chief career concern, one-third (33 percent) of Gen Y workers polled cited compensation and benefits issues. The second most common response was finding and keeping a job, provided by 26 percent of those surveyed; career satisfaction ranked third, named by 23 percent of respondents.


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