Personal Finance

Tax

TinyBooks Adds Sales Tax Support

TinyBooks, a single-entry accounting program for Mac computers from Space Time Associates, has added support for U.S. sales taxes, international Goods and Services Tax (GST), Provincial Sales Taxes (PSTs) and Value Added Tax (VAT), as well as international dates and other changes to the 4.0.09 release.This Mac-only accounting package for individuals and small businesses features: income and expense tracking; report generation; invoice creation and printing; and import and export of data.
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Practice Management

Deadline for Establishing a SIMPLE Retirement Plan Approaching Fast

"With the future of social security up in the air and traditional corporate pension plans on the path towards extinction, contributing to a retirement plan provides some peace of mind that you'll be able to retire comfortably," explains Andrew Schwartz CPA, founder of CPA Niche, LLC.Advertisement
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Large Shareholders Impact Profitability, Policies

“Large shareholders come with different sets of skills and preferences when they invest in a company.
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Tax

Investing in Real Estate After the Boom

Real estate is pricey these days but is still a valuable commodity, says Linda Stern, writing for Reuters, and one alternative to buying a house for investors is purchasing shares in a real estate investment trust that owns commercial or apartment real estate (REIT). Another alternative offered by the Chicago Mercantile Exchange (Merc) is commodity-style trading on housing futures and options in select cities.
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A&A

Effects of 9/11 on Wages and Earnings

September 11, 2001, has had a far-reaching impact on the wages and earnings of individuals affected by the events of that day. Wages and weekly earnings for Arab and Muslim men living in the U.S. declined 10 percent following the attacks.
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Tips for Avoiding Sour Grapes in Life’s Biggest Transaction

Buying a home is one of the biggest transactions in most people’s lives.
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Community News

H&R Block Plans to Reduce Refund Lending Costs by Opening Bank Accounts

One million tax return clients of H&R Block may soon have low cost bank accounts.
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Tax

Hybrid Sense: The Effects of Rising Fuel Prices & Tax Credits

“Our study revealed that high gas prices and generous tax credits now offset the high sales prices of some hybrids, assuming owners keep their hybrids for a few years,” said Alex Rosten, Manager of Pricing and Market Analysis for Edmunds.com, in a statement introducing the findings of the latest installment of Edmunds.com Fuel Economy Guide.Advertisement
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A&A

Introducing the First Contactless MasterCard for Small Business

When MasterCard WolrdWide and Advanta Corp. begin issuing the PayPass™-enabled Advanta MasterCard® Small Business card in September, it will be the first small business credit card to be equipped with PayPass contactless payment technology.
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Dirty Secrets of Bankruptcy Lawyers

The field of bankruptcy law has exploded in recent years, even though the process of filing for bankruptcy really only involves filling out a few forms.
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Technology

Dell Recalls Millions of Laptop Computer Batteries

Owners and users of Dell Latitude™, Inspiron™, XPS™ and Dell Precision Mobile Workstation™ notebook computers should be aware that, under rare conditions, certain batteries sold for use with these models may overheat and pose a fire risk. In cooperation with the U.S.
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Income Tax Burdens for the Non-Spouse Beneficiary

Have you heard about a “stretch IRA” and wondered if it was some special kind of IRA? Well, it isn’t. In the simplest terms, a stretch IRA is an IRA that has a beneficiary designation that provides for the possibility of maintaining the tax deferred status of the IRA after the death of the IRA owner. You might be thinking, “I wish I had a stretch IRA. I only named my spouse as my primary beneficiary and my kids as my successor or contingent beneficiary.” Well, guess what? You have a stretch IRA.
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Tax

Hedge Fund Managers Welcome SEC’s New Guidance

The U.S.
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Student Housing is an Excellent Investment Opportunity

Far beyond the stereotypical “college” images that may come to mind, off-campus student housing is a good investment.
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Martha Stewart & Peter Bacanovic Settle with SEC

The Securities and Exchange Commission (SEC) has announced that an agreement to settle insider trading charges against Martha Stewart and Peter Bacanovic, relating to Stewart’s December 2001 sale of ImClone Systems stock, has been reached.Advertisement
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Education & Careers

Accounting & Finance Worker Confidence Hits Summer Doldrums

Worker confidence among accounting and finance professionals fell 3.4 points, to 106.6 in July, according to the latest Hudson Employment Index. This level is lower than July 2005 when the confidence level among accounting and finance workers was 110.
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Raises Harder to Come by, College Graduates Find

Salaries among the ranks of college-educated, white-collar American workers are eroding for the first time since the 1970s, as globalization adds a new twist to the U.S.
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The Consequences of Credit Card Company Created Bankruptcy

Chances are that back when you first began using credit cards, the credit card companies were never shy about offering you more cards and larger credit lines. They acted this way because they wanted you to live beyond your means and take on more debt than you could reasonably pay off on a monthly basis. These companies do not make money when customers charge low amounts and pay off their balances in full; they make money when customers carry high balances and pay hefty interest rates.
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A&A

Adding Credit Counseling Helps Businesses Build Customer Loyalty, Build Bottom Line

By the end of the first quarter of 2006, U.S. consumer debt totaled $11.8 trillion, according to the Federal Reserve. The new bankruptcy reform, higher interest rates, rising gas prices and increased minimum credit card payments, also make it apparent that consumers are in need of financial advice and more businesses need to offer it.A recent study from the National Foundation for Credit Counseling (NFCC) indicates that individuals coming to NFCC agencies for pre-bankruptcy-filing counseling “were in desperate financial shape with debts that vastly exceeded their income.
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Community News

NY Crackdown on Bad Accountants Addresses Long-Term Concern

New York State regulators’ new crackdown on the accounting profession addresses an issue that has been roiling in the Empire State ever since the Enron accounting scandal surfaced several years ago.The New York State Board of Regents has revised the definition of "unprofessional conduct" for CPA's licensed by the state to include disciplinary actions taken by the Securities and Exchange Commission (SEC) and its Public Company Accounting Oversight Board (PCAOB), meaning that accountants or accounting firms disciplined by either of those bodies now can be subject to censure, reprimand and t
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Pages

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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