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Practice Management

Small Business Looks to MBAs for Ideas

Today's students are tomorrow's leaders, right? How about today-here and now!More and more small businesses are tapping the resources available to them through local graduate school programs, especially the red-hot MBA marketplace. Recruiting an MBA provides a fresh perspective to your business and, at the same time, helps the student receive invaluable experience.Businesses who must watch the bottom line are finding they can accomplish the same end result by relying on the graduate student to provide consulting services relative to his or her discipline.
Practice Management

CPAs Can Brush Up on Tax Strategies for Small Business Owners

In today's accounting marketplace, more and more CPAs and other professionals are getting further and further away from taxation and advise strategies for the small business owner.Some end-of-year tax planning will indeed help any situation, be it that of the CPA or a client. For example, by gathering together last year's tax statement, along with a projection of 1999, you can adequately take a look at where you may or may not be headed regarding the 1999 tax bill.Some strategies for small business boil down to the calendar itself, such as sending out invoices after Jan.
A&A

MSAs – Gold Mine Or Shaft?

Republicans and Democrats are dueling over the experimental tax-free Medical Savings Accounts (MSA) this week. Republican leaders will propose legislation that would make MSAs available to all Americans.MSAs were designed to help people set aside money to pay for routine medical bills and the premium for a high-deductible insurance policy. MSAs have insured those who would otherwise not be able to afford health insurance.
Practice Management

Donations Good for Business and Goodwill

CPAs and accounting professionals try to teach their clients and employers each year the value of charitable donations and the tax breaks associated with regular giving programs. But what about applying some of this philosophy to their own businesses-as well as some of the intangible benefits, like reputation management?Each year, millions of businesses donate to charities and find themselves in a better position, not only from a tax standpoint, but in self-promotions as well.
A&A

Help Available on Sec 529 Qualified State Tuition Programs

State sponsored college savings programs are becoming hot, and every large financial institution is trying to figure out how to get a piece of the action.These plans represent a revolutionary new way parents (and grandparents) invest for college tuition. These pre-paid tuition plans are state sponsored investment plans and are given special tax status by the IRS.A new website is available to help you advise your clients through the array of programs available today through Section 529 plans.
A&A

Technology Used by CPAs Affects Online Brokerage Industry

Data mining is one of the new buzzwords in the accounting and technology industry, perpetuated by the ability to drill down into spreadsheets and general ledgers to extract information. In fact, it was named one of the AICPA's Top Ten Technologies in 1998.The banking industry has used data mining as a means to track information on customers from data submitted by the customers themselves. Data is compiled in a computerized data warehouse for use in other areas.
A&A

Insurance is a Back Burner Issue for Home Businesses

Home businesses are here to stay, and the accounting profession is one of a number of service industries capitalizing on operating a business at home.CPAs and accounting professionals who operate from their homes, as well as those in a position to advise their clients on financial matters, should have enough insurance coverage to survive a natural or man-made disaster.Standard homeowners policies may not be adequate because they do not include provisions for business liabilities or business interruptions.
A&A

New SBA Guide Takes an Inside Look at the Lending Process

Most small business owners have learned from experience that obtaining business loans is no simple task. Small business banking veteran Charles Green has worked to separate the mystique from the lending process in his recently published Small Business Association (SBA) Loan Book.
A&A

Worth Magazine Profiles Wizards of Wall Street

Over the past few years, many of us throughout the accounting profession have begun delivering services very similar to those who work in the financial planning arena on a full-time basis. Learning from the experts helps the CPA and accounting professional develop best practices to demonstrate value and competency to this growing client base.Worth magazine has taken the cream of the crop and profiled them in a new article featuring the 25 most knowledgeable people on Wall Street.
A&A

More Than 50 Percent of 401(k) Plan Participants Cash In

A new study by Hewitt Associates, a global management consulting firm, reveals an alarming trend among 401(k) plan participants changing jobs. Could the results be an avenue for you to add value for your existing client base or offer more services in your compensation and benefits consulting practice?The study shows that 57 percent of 401(k) plan participants cash out at the door when they leave an employer instead of rolling over the balance to their new employers' plans or IRAs.
A&A

NYSE Delays Plan to go Public

The New York Stock Exchange (NYSE) has delayed plans indefinitely for its own IPO while it provides tough answers to issues involving regulation and taxation.Based on feedback from its own board of directors and other parties, chairman Richard Grasso said the NYSE made the decision to go forward with a strategic plan addressing public policy-related questions rather than solidify the IPO at this time.
A&A

H&R Block Buys Discount Stock Brokerage

H&R Block solidified a deal Wednesday to buy Olde Financial Corp., a discount stock brokerage based in Detroit. The company was bought for a reported $850 million in cash, and is intended to provide an estimated 16.5 million H&R Block customers with a greater range of financial services.
A&A

Powerful Portfolio Management Software Now Available

1st Global, Inc. just rolled out its new version of Premier Allocator(TM). The new version combines Wiesenberger's Blueprint and InvestmentView products for the technology and database engines driving the program. The program bundles into one package asset allocation, mutual fund research, and decision support tools.
A&A

Move to Self-Brokerage Fuels Increased Trading and Tighter Control

While the stock market continues to gain momentum, the headlines boom with stories about day trading, after-hours trading and the much-discussed 24/7 trading.
A&A

"Night Traders" is Newest Phenomenon in Online Trading

Can 24/7 stock trading be too far into the future? With a move towards convenience and flexibility, Discover Brokerage Direct and Dreyfus Brokerage Services recently announced a new, joint service enabling customers to trade stocks after 4 p.m., ET—the time known as the traditional close of the U.S. Stock Market.Called MarketXT, an initial 142 stock trading orders worth $3.5 million were executed as of Wednesday evening.
A&A

European Banks Offering Online Services Nearly Doubles

European financial institutions are turning to the low-cost alternative of Web-based accounts to gain market share.A report on deregulation and restructuring in the region revealed the number of European online banking sites nearly doubled in the last six months, climbing to 1,265 from 703. By way of comparison, the number of U.S.
A&A

Chicago Exchange Approves After Hours Trading

The Chicago Stock Exchange has become the first exchange to approve after-hours trading for institutional and individual investors. This move comes as other exchanges across the country work to extend stock trading into the late evening and early morning hours. The nation's third largest stock market said it plans to add two extra hours of trading. Pending regulatory approval, it hopes to add the extra hours Oct.
A&A

Datek Online Is First To Provide Customers With Instant Answers

Datek Online, an online brokerage pioneer, introduced "Ask Datek" - a new service that give customers instant access to answers for Datek-related questions. Datek is the first online brokerage firm to offer the intuitive type of answering service that allows customers to ask questions in natural language.

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