Human Resources

Education & Careers

5 Reasons Why Demand for Accounting & Finance Pros Will Intensify

Ron Blair, managing director of Century Group, a professional services firm specializing in executive search, professional recruitment and independent project and interim services in accounting, finance, audit and tax believes a demand for accounting and finance professionals will carryover into 2007.Blair listed the following factors contributing to the high demand for finance and accounting professionals:1. Increased utilization of accounting and finance professionals on a project or interim basis if companies delay hiring plans during an economic downturn.2.
A&A

7 Ways to Keep Employees Focused, Committed to Change

Companies large and small spend millions of dollars each year in order to make change initiatives a success. And yet the results are frequently dismal—changes fail to achieve their objectives, and leaders are left wondering what went wrong. Managers blame change-phobic employees, and employees say leaders didn't manage the change effectively. If you're responsible for driving change, you find all the finger-pointing frustrating and, frankly, unhelpful. If only you could pinpoint where the failure originates, perhaps you could head it off at the pass.Here's some good news.
Practice Management

Accounting for Employee Health

When Canadian employees at PricewaterhouseCoopers get sick, they can call up a new internal website that offers help and an unusual personal invitation -- to walk into the CEO's office and talk confidentially about their health challenges, reports The Globe and Mail.PwC is not alone in its desire to be recognized as a leader in building a wellness into its culture. Conference Board of Canada surveys reveal that health information and promotion programs are quickly becoming important components of human resource strategies.
A&A

Legislation To Boost Electronic Payment Processing

Many treasurers dream of eliminating paper from their processes and are moving both data and funds entirely electronically, according to Business Finance magazine.Several new pieces of legislation will facilitate the move to electronic payment processing. One is back-office conversion, or BOC. Effective March 2007, BOC will allow retailers and other businesses to convert checks to electronic data streams.
Practice

Study: Male Accountants Threatened By Women

Nine out of 10 male accountants believe they have been adversely affected by attempts to create a more favorable working environment for women in Europe, new research reveals. Recruitment specialists Careers in Audit found that many men working in the profession claimed that women were being promoted even if they do not deserve it. The resentment ran high despite 76 percent of male accountants backing the view that a "glass ceiling" still exists which prevents women from progressing.
A&A

Employers Must Sign Up To Pay 409A Taxes For Backdated Options

Employers face a deadline of February 28, 2007 to take part in a new compliance resolution program designed to allow them to may pay the additional federal taxes imposed under Code Sec. 409A on behalf of certain employees who exercised backdated options or other discounted stock rights during 2006.The IRS initiated the program to minimize the burdens of compliance on employees who are not corporate insiders while ensuring that all applicable taxes are paid.
Education & Careers

Most Workers Unhappy In Jobs

More than four out of five U.S.

More Companies Offer Socially Responsible Retirement Plans

If companies wanted to offer its employees a diverse socially responsible retirement plan before 2006, it did not exist. Many plans offered one or two options, if any, until the emergence of Social( k ), the nation's most diverse socially responsible retirement plan, offering more than 100 screened socially responsible funds from which to choose. In its first year, thirty five companies and organizations either converted their existing plan or began offering Social(k) in conjunction with their plans.
Tax

Early Plan Needed to Exit Retirement Accounts

Now, before retirement, is the time to act on forming a plan to exit IRA accounts to avoid tax ramifications and government plan regulations that cost investors considerable amounts of money and a revolutionary plan may assist investors who are looking to secure their retirement funds and limit distribution costs. Young workers, or those who are closer to retiring, who are looking for an IRA Exit Strategy have a unique opportunity to prepare now, before their options are limited. Good advice is crucial in estate planning and retirement saving for the growth of assets.

Improved benefits added to companies on 2007 America's Best Workplaces list

Support of employees raising families, more flexibility and more fun at work than ten years ago, are some of the benefits added to America's best workplaces, according to the Great Place to Work Institute which partners with FORTUNE to produce the annual "100 Best Companies to Work For" list. "While many commentators long for the workplace of old -- with fully paid health care, generous pensions and lifetime job security -- we see that for many lucky employees, the workplace has never been better," says Robert Levering, co-founder of the Great Place to Work Institute, an international

New State Health Plans Include Children

Both employers and employees are feeling the pinch from rising health insurance costs. In the annual survey by Compensation Data of more than 5,300 employers, results show that 41.2 percent of families can expect to pay over $250 a month on premiums.

Be Aware of HSA Changes

The Health Opportunity Patient Empowerment Act of 2006, part of the Tax Relief and Health Care Act of 2006, provides new opportunities for those who participate in Health Savings Accounts (HSA) to build their account funds. HSA Trustee Services, a leader in the HSA market, advises people to fully fund their accounts before any other tax-advantage accounts, such as an IRA or 401K, because the HSA funds are always accessible to the participant and family dependents for qualified health care expenses while still receiving tax benefits. "Ever since passage of the new law, we have r

Does Older Always Mean Wiser?

While study seems to confirm the adage "older and wiser" and some aspects of emotional intelligence (EQ) do develop with age, there is no guarantee that this is true. There are assumptions generally held about age and emotional intelligence. "Common sense" leads us to conclude that older people are wiser and more restrained. But is this always true? The research that exists does indicate a slight connection between emotional relationship and age, but does not explain how strong this effect is or which areas of EQ are most affected by age.

Work-Life Balance Wellness Plan for 2007

This is the time that organizations and individuals construct their plans to create a healthy work-life balance plan to increase wellness and energy for the coming year. The Human Performance Institute is providing a free five-minute test, the a Full Engagement Free Profile, to help individuals access their energy and engagement challenges and provide steps to meet and improve their goals. "We get energy for sustained performance when we manage our energy resources effectively," says Chief Executive Officer (CEO) Jim Loehr of the Human Performance Institute.

New SEC Regulations on Pay and Perk Disclosures Go Into Effect

In mid-December of 2006, new Securities and Exchange Commission (SEC) rules became effective that require more information to investors by public companies in their filings about the pay packages and perks of executives. At a time of widespread backdating of options and the ever-widening divide between salaries of employees and executives, the changes are aimed at increasing corporate transparency. The new requirements will be added to existing disclosure tables found in the SEC filings.
Tax

The New York Yankees Receive $26 Million Luxury Tax Bill

New York Yankees have clinched their ninth straight American League East title, and for their troubles have received a $26 million luxury tax bill from Commissioner Bud Selig, according to the Associated Press. Their tax payment is due in the commissioner’s office by Jan. 31. Their four-year total now comes to $97.75 million.The tax threshold also increased $8.5 million, to $136.5 million this year and only New York and Boston exceeded the threshold, according to the New York Times. Boston will pay only $497,549, while the exact figure for the Yankees is $26,009,039.
Tax

Cafeteria Plans Need Updating

Employers are running out of time to amend and update the old, outdated Section 125 Cafeteria Plans before the end of the year, reports Core Documents, Inc., the nation's primary source for Section 125 Cafeteria, HSA and HRA plan documents. This includes: Section 125 Premium Only Plans, Health Flexible Spending Accounts and Dependent Care Assistance FSA plans. Employers risk making mistakes by not using the many updates in the tax code, revenue rulings and the laws affecting the administration of the tax-free benefit plans.
Tax

Moratorium Lifted on Suspended Cash Balance Conversion Applications

The Internal Revenue Service (IRS) has lifted a moratorium on determination letter applications for conversions from traditional defined benefit pension plans to so-called cash balance plans.

HSAs Expanded in Last Days of Congress

Congress gave final approval to H.R. 6111, the "Tax Relief and Health Care Act of 2006", with provisions that expand Health Savings Accounts (HSAs) and incorporates provisions from H.R. 6134, the "Health Opportunity Patient Empowerment Act of 2006". The new provisions would make several improvements to the HSA program. In September, Ways and Means Chairman Bill Thomas (R-CA) said, "HSAs are still relatively new, but we are already seeing them grow in popularity.

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