Accounting

  • Most Topular Stories

  • Accountant Next Door Small Business Inbox | Mini Guide to Successful Entrepreneurship

    Investment & Small Business Accountants
    chinweike
    22 Mar 2015 | 4:13 pm
    In this comprehensive small business management guide, we will practically take you by hand and walk you through the process of starting and running your successful small business. What you are about to read in this little but mighty successful small business management guide are what you cannot get for free from any other experienced […]The post Accountant Next Door Small Business Inbox | Mini Guide to Successful Entrepreneurship appeared first on Investment & Small Business Accountants.
  • [Infographic] 5 Tips for Studying More Effectively

    CPA ZONE
    Brenda Mizgorski
    27 Feb 2015 | 11:16 pm
  • Nine Ways Successful People Defeat Stress

    CPA ZONE
    Brenda Mizgorski
    28 Jan 2015 | 2:43 pm
    If you feel like studying for and taking the CPA Exam ranks up there as one of the single most stressful times for you, you are certainly right.  Welcome to the life of a CPA candidate.  Here's a recap of nine scientifically-proven strategies for defeating stress with the hope of making the road to CPA a little more bearable.   #1    Have self-compassionLook at your mistakes or failures with kindness and understanding — without harsh criticism or defensiveness. #2    Remember the "Big Picture"Link one particular, often small action to a greater meaning or purpose.
  • Busy Season 2015: Headaches from Obamacare

    CPA Trendlines
    CPA Trendlines
    26 Mar 2015 | 10:33 am
    ‘ACA is PITA BS for CPAs.’ Next year’s plan: ‘Become a monk.’ Next question: The smartest moves this busy season? Join the survey; get the results By CPA Trendlines Research As Busy Season 2015 grinds down, tax prep professionals are grappling with myriad and continuing issues with new rules, thin staffing and difficult clients, according to […] The post Busy Season 2015: Headaches from Obamacare appeared first on CPA Trendlines.
  • Deloitte US First Female CEO; There’s More We Don’t Know

    re: The Auditors
    Francine
    2 Mar 2015 | 4:29 pm
    Wouldn’t it be nice if investors and other interested parties could look up Cathy Engelbert in a public and easily accessible registry and find out about all the audit clients where she has been a lead partner or a Quality Control partner? Has she ever been named in a lawsuit or been sanctioned? Let’s hope not. Here’s what I think really matters about Engelbert’s appointment. From my piece at Medium.com. More important than being a woman is the fact that Engelbert is an audit leader rather than a consulting or tax leader. EY’s chose its new US CEO from its tax lobbying…
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    CPA Letter Daily

  • Tactics for getting clients to file on time

    26 Mar 2015 | 6:31 am
    CPAs employ a range of carrot-and-stick tactics to get clients to hand in their tax paperwork well ahead of April 15.  -More- Improve workflow while managing staff and clients The days of managing tasks with checklists and spreadsheets are over. Learn how Farkouh, Furman & Faccio created a dynamic internal process for managing their firm using XCM. Designed exclusively for tax and accounting practices of all sizes, XCM enables real-time workload balancing and proactive client service. Watch video.
  • Foreign earnings devalued by strong dollar

    26 Mar 2015 | 6:31 am
    The strong dollar is eroding the value of foreign earnings for U.S.  -More- 
  • 4 questions that could eliminate the performance review

    26 Mar 2015 | 6:31 am
    Instead of giving employees performance reviews, companies should ask managers to regularly answer four questions about each  -More- 
  • Durable goods orders fall

    26 Mar 2015 | 6:31 am
    Orders for durable goods unexpectedly declined 1.4% in February, following a smaller-than-expected 2% increase posted in Janu -More- 8 key developments in accounting and auditing In a rapidly changing business environment, accountants and auditors must remain informed on these important issues. Free download.
  • House passes nonbinding budget resolution

    26 Mar 2015 | 6:31 am
    The House approved by a 228-199 party-line vote a nonbinding budget resolution that will serve as the basis for further negot -More- 
 
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    re: The Auditors

  • Speaking Engagements/Conferences

    Francine
    23 Mar 2015 | 5:40 am
    I’m on the road visiting universities, attending select conferences and forums and speaking to groups of all kinds. If you would like me to visit your university and your accounting/audit program, please write soon to lock in fall and winter dates. Contact me at fmckenna@mckennapartners.com to schedule a presentation at your university, conference, firm or for a private briefing. Coming Up: March 23-24, 2014, I’ve been asked again, my 5th year, to be a preliminary judge for the Gerald Loeb Awards for Distinguished Business and Financial Journalism. ( I am a two-time award…
  • Deloitte US First Female CEO; There’s More We Don’t Know

    Francine
    2 Mar 2015 | 4:29 pm
    Wouldn’t it be nice if investors and other interested parties could look up Cathy Engelbert in a public and easily accessible registry and find out about all the audit clients where she has been a lead partner or a Quality Control partner? Has she ever been named in a lawsuit or been sanctioned? Let’s hope not. Here’s what I think really matters about Engelbert’s appointment. From my piece at Medium.com. More important than being a woman is the fact that Engelbert is an audit leader rather than a consulting or tax leader. EY’s chose its new US CEO from its tax lobbying…
  • PwC Settles Campbell Overtime Case; Impact To Profession Is Happening Now

    Francine
    2 Mar 2015 | 4:22 pm
    PwC recently agreed to settle the Campbell v. PwC overtime class action lawsuit pending in California. Two former unlicensed PwC accounting associates, with the support of law firm Kershaw, Cutter & Ratinoff, filed a motion on October 24, 2007 that sought to certify a class of all associates and senior associates employed by PwC in California. I first wrote about the case on October 25, 2007. Here’s an excerpt from my wrap-up at Medium.com. The accounting profession wants to be elite, like law, even though the public accounting business model at the largest firms is built on the…
  • When Auditors Get Mixed Up In M&A, Smaller Clients Get Hurt

    Francine
    3 Feb 2015 | 9:21 am
    Over at Medium.com I’ve written about a new academic study, Shared Auditors in Mergers and Acquisitionsto be published soon in the Journal of Accounting and Economics that documents an interesting, rarely commented on auditor conflict of interest. The data suggests that when an acquiring company and its target share the same auditor, the audit firms favor acquirers at the expense of the smaller target audit clients. The researchers are also more bold than I have ever seen in an academic study in alleging that auditors prioritize their own self-interest and larger clients by using…
  • Journalists’ Obligations In The Shareholder Value Maximization Debate

    Francine
    14 Jan 2015 | 2:53 pm
    I wrote at Medium.com on January 6 about two journalists, both at the New York Times, who penned sympathetic stories about shareholders and other stakeholders that were paid short shrift when dominant shareholders or corporate insiders dominate the agenda. These journalists, in service to shorter and simpler narratives, shortcut coverage of the active and contentious debate about shareholder value maximization. Nelson Schwartz’s December 6 piece, “How Wall Street Bent Steel: Timken Bows to Activist Investors, and Splits in Two” describes the crying shame in Ohio of “activist…
 
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    Deloitte Global headlines

  • 2015 Global Aerospace & Defense Outlook

    20 Mar 2015 | 5:57 am
    According to the 2015 Global aerospace and defense industry outlook, the industry is likely to grow around 3 percent. This increase is due to the continued strength of the commercial aerospace sector from rising passenger travel demand and production of next generation fuel-efficient aircrafts.
  • 2015 global research bulletin

    20 Mar 2015 | 5:39 am
    Over the last five years, in response to changing global market dynamics and business needs, Deloitte has commissioned biennial market research with global tax decision makers from the largest multinational businesses. Since 2010, three independent research studies into the management of tax have been conducted, culminating with completion of the most recent study in December 2014. With over 1,000 organizations now surveyed, our body of findings provides objective market insight into the global management of tax.
  • Foreign Direct Investment and Inclusive Growth

    20 Mar 2015 | 5:39 am
    A report developed by Deloitte UK, in conjunction with Social Progress Imperative, found that there is a positive and nuanced relationship between FDI and social progress. By better aligning the two, business, government, and non-government organizations can drive real and inclusive growth.
  • Global Human Capital Trends 2015

    20 Mar 2015 | 5:38 am
    Today’s HR challenges require a new playbook—one that helps make HR more agile, forward thinking, and bolder in its solutions.
  • Latin America Economic Outlook

    20 Mar 2015 | 5:37 am
    Deloitte Global has released the 2015 Q1 Latin America Economic Outlook, the next report in its series.
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    Accounting News and Notes

  • In Order to Earn the Right To Speak Absolute Truth Into Others Lives We Must First Offer Absolute Love

    John Dillard
    26 Mar 2015 | 9:21 am
    One our Team Members Said Something Several Years Ago I Will Never Forget In Order to Earn the Right To Speak Absolute Truth Into Others Lives We Must First Offer Absolute Love…Just as HE Did I Can Only Imagine as He Hung There and Spoke Those Words….”Forgive Them They Know NOT What they Do” We Must Always Remember…For His LOVE is TOO Great to Hide and That is the Reason I Will Tell Everyone the Good News of Christ. I Can’t Wait To See What God is Going to Do TO & THROUGHT Us this Year on the Rez. In New Mexico!!! Love You All,
  • Love Your Neighbor as Yourself…Don’t Watch Unless You Are Ready to Be Changed

    John Dillard
    26 Mar 2015 | 6:52 am
    Love Your Neighbor as Yourself Don’t Watch Unless You are Ready to be Changed Imagine a World if We ALL Lived Like This!!!! Love you ALL!!!!!!!!!!! Video by Michael Karl Fritz Frank
  • Bill Hybels Book The Power of a Whisper…This is a MUST Read for Those Looking to GROW in their FAITH

    John Dillard
    24 Mar 2015 | 1:56 pm
    Bill Hybels Book The Power of a Whisper…This is a MUST Read for Those Looking to GROW in their FAITH Our Bible Study Group just finished an eight week study of Bill Hybels Book The Power of a Whisper. It is a GREAT Read About Hearing God and Having the Guts to Respond. If You are Looking to Take Your Faith to the Next Level This Book Will be a GREAT Kick Starter. Every Chapter Had Spiritual Nuggets and Ideas that Will Do MUCH To Replenish Your Soul and Encourage Your Heart!!! Bill Hybels Book the Power of a Whisper  
  • IRS’s Employer Shared Responsibility Provision commonly called ESR

    John Dillard
    23 Mar 2015 | 1:37 pm
    IRS’s Employer Shared Responsibility Provision commonly called ESR Obama Care Begins in Earnest For individuals -Please be reminded that beginning in 2014 all taxpayers are required to have medical insurance and that for those who do not the IRS will assess a tax penalty that will increase over the next several years. To learn more Questions and Answers on the Individual Shared Responsibility Provision For employers For Employers who are considered large (50 or more Full Time Equivalents/FTE’s) based upon their 2014 calendar year workforce are required to being reporting ESR information…
  • Georgia State Panthers ROCK March Madness

    John Dillard
    19 Mar 2015 | 1:06 pm
    Georgia State Panthers ROCK March Madness GSU Makes a GREAT Entrance into March Madness What a Bracket Buster GSU Also Makes GREAT CPA’s…Check out John Dillard CPA…I’m Just Sayin’
 
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    CPA ZONE

  • [Infographic] 5 Tips for Studying More Effectively

    Brenda Mizgorski
    27 Feb 2015 | 11:16 pm
  • Uh, yeah...that's the CPA Exam for you!

    Brenda Mizgorski
    27 Feb 2015 | 10:58 pm
    Uh, yeah...sounds about right.
  • Nine Ways Successful People Defeat Stress

    Brenda Mizgorski
    28 Jan 2015 | 2:43 pm
    If you feel like studying for and taking the CPA Exam ranks up there as one of the single most stressful times for you, you are certainly right.  Welcome to the life of a CPA candidate.  Here's a recap of nine scientifically-proven strategies for defeating stress with the hope of making the road to CPA a little more bearable.   #1    Have self-compassionLook at your mistakes or failures with kindness and understanding — without harsh criticism or defensiveness. #2    Remember the "Big Picture"Link one particular, often small action to a greater meaning or purpose.
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    AccountingCoach

  • What is the difference between periodic and perpetual inventory systems?

    AccountingCoach.com
    19 Mar 2015 | 10:41 am
    The difference between the periodic and perpetual inventory systems involves the general ledger account Inventory. In a periodic system the account Inventory will: have a constant balance (the ending balance from the previous period) not include the cost of purchases (they are recorded in a Purchases account) be adjusted at the end of the accounting period (so the balance reports the costs actually in inventory) require a physical inventory at least once per year (and estimates within the year) require a cost flow assumption (FIFO, LIFO, average) require a calculation of the cost of goods…
  • What is the difference between prime costs and conversion costs?

    AccountingCoach.com
    17 Mar 2015 | 7:04 am
    The difference between prime costs and conversion costs involves the three cost categories associated with manufacturing a product: direct materials direct labor and manufacturing overhead (also known as factory overhead, production overhead, burden, indirect product costs, etc.) Prime costs are the two direct product costs. (The indirect product cost manufacturing overhead is excluded.). Hence, the prime costs are: direct materials costs direct labor costs Conversion costs are the manufacturing costs needed to convert the direct materials into products. Hence, conversion costs exclude the…
  • What is the difference between a nominal account and a real account?

    AccountingCoach.com
    12 Mar 2015 | 7:08 am
    The difference between a nominal account and a real account has to do with the balances in the accounts at the end of the accounting year: The balance in a nominal account is closed at the end of the accounting year. As a result a nominal account begins each accounting year with a zero balance. Since the balance does not carry forward to the next accounting year, a nominal account is also referred to as a temporary account. The balance in a real account is not closed at the end of the accounting year. Instead, a real account begins each accounting year with its balance from the end of the…
  • What is a variable expense?

    AccountingCoach.com
    10 Mar 2015 | 7:45 am
    An expense is a variable expense when its total amount changes in proportion to the change in sales, production, or some other activity. To illustrate a variable expense, let’s assume that a website business sells a product and requires that the customer use a credit card. The credit card processor charges the business a fee of 3% of the amount charged. Therefore, in a month when sales are $10,000 the business will have a credit card expense of $300. If sales are $30,000 there will be a credit card expense of $900. The total credit card expense varies with sales because the fee has a…
  • What is a fixed expense?

    AccountingCoach.com
    5 Mar 2015 | 6:01 am
    A fixed expense is an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity. For example, a retailer’s monthly rent expense of $2,000 is a fixed expense because it will be a total of $2,000 whether the monthly sales are $15,000 or $30,000. We usually qualify the definition of a fixed expense by adding: within a relevant or reasonable range of activity. In other words, if the retailer needs to have monthly sales of $80,000 it is likely that the retailer will need to rent additional space, thereby increasing rent…
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    CPA Success

  • Forget tax season, CPAs — Congress needs your help

    21 Mar 2015 | 5:00 am
    Only Congress could come up with something like this. Sen. Orrin Hatch, R-Utah, chair of the Senate Finance Committee, and ranking committee member Ron Wyden, D-Ore., have launched a bipartisan effort to gather ideas from the public for how to best reform our nation’s ridiculously complex and verbose tax code. On the surface, that sounds great. Truly. Our lawmakers can’t possibly know all of the intricacies of tax policy. To reform our tax code, they’ll need all help they can get. They admit as much. “By opening up our bipartisan working groups to public input, we hope…
  • Cyber liability: A growing concern for CPA firms

    16 Mar 2015 | 7:12 pm
    Did you know that one out of five cyber attacks hits a business with 250 or fewer employees? We all watch the nightly news, and many of us think, “No one would target me or my business for a cyber attack; it isn’t worth their time,” but that simply isn’t the case. Considering that roughly 60 percent of small businesses close within six months of a cyber crime, everyone needs to be aware and concerned. CPAs are among the prime targets for cyber criminals. Obtaining your clients’ tax returns, Social Security numbers, employer ID numbers, financial statements, and…
  • What accounting students want from employers

    11 Mar 2015 | 2:37 am
    On March 9 we visited with the Salisbury University chapter of Beta Alpha Psi and had an opportunity to engage these future CPAs in a dialogue about their future careers. Can you guess the No. 1 thing they want in their careers? Work / life balance! The top five things they want in an accounting career are: Work / life balance  Money (competitive salary) Flexibility (where and how they work) Career development and training (growth) Diversity and inclusion These answers are consistent with our prior student research and the latest generational research we have been following. Some other…
  • Maryland passes nano learning (10-minute CPE)

    3 Mar 2015 | 5:50 pm
    The Maryland State Board of Public Accountancy has voted unanimously to adopt the final CPE regulations for nano learning, or 10-minute CPE increments. The regulations will be in effect by March 31, 2015. Maryland joins Ohio in the official approval of this new CPE format. This is an important first step in moving Maryland toward the "future of learning" for CPAs. The "future of learning" is a profession-wide initiative to advance the CPE model started by the AICPA. Maryland's own Jackie Brown participated on that task force. Jackie said, "The trend in 'just-in-time' learning was clear among…
  • A Rising Tide - The Top 5 Finance Challenges from FEI/Protiviti

    28 Feb 2015 | 11:18 am
    Finance and accounting teams in corporations face a "rising tide of finance challenges according to the Financial Executives Research Foundation/Protiviti 2015 Finance Priorities Survey. Finance teams are extremely busy and trying to cope with the increasing waves of change and workload coming their way. In the midst of being busier than ever, they are challenged to find time to support the company's strategic growth initiatives and add insights to the operating and financial resuts of the business units. In fact the "busyness" factor showed up in our research in our townhall/PIUs over the…
 
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    CPA Technology Blog

  • Recent Reading and Writing, March News Update

    Brian Tankersley
    18 Mar 2015 | 7:14 am
    I’ve been quite busy over the last couple of months, but unfortunately, I don’t have a lot which I can show you, the gentle reader of this blog. A listing of some of the writings I’ve worked on in the...
  • I’m Back, Peeps!

    Brian Tankersley
    3 Mar 2015 | 10:00 am
    I was going through my e-mail this morning, and saw that one of my favorite blogs, Jr. Deputy Accountant (Rated R), was back online after an extended absence. This made me realize that I had left you, the gentle reader...
  • Sage Releases Sage View

    Brian Tankersley
    10 Nov 2014 | 2:16 pm
    (Press release is presented verbatim as it was published this morning) Sage View Enables Accountants to Deepen Client Relationships with High-Value Advice Sage and The Sleeter Group prove knowledge is the accountant’s superpower at the Solutions14 Conference LAS VEGAS (November...
  • K2 ENTERPRISES ANNOUNCES THE 13th ANNUAL K2 QUALITY AWARD WINNERS for 2014

    Brian Tankersley
    1 Oct 2014 | 7:35 am
    FOR IMMEDIATE RELEASE October 1, 2014 - K2 Enterprises has released their annual technology awards for 2014. “It was quite interesting this year as there were no unanimous winners. There were votes for many solutions. We did have some repeat...
  • Recent Software Company M&A Activity

    Brian Tankersley
    22 Sep 2014 | 10:03 am
    As readers of this blog know, the only constant in the accounting technology space is change itself. With that in mind, I wanted to let you know about some recent acquisition announcements in the accounting space. SAP to Acquire Concur-...
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    CPA Trendlines

  • Busy Season 2015: Headaches from Obamacare

    CPA Trendlines
    26 Mar 2015 | 10:33 am
    ‘ACA is PITA BS for CPAs.’ Next year’s plan: ‘Become a monk.’ Next question: The smartest moves this busy season? Join the survey; get the results By CPA Trendlines Research As Busy Season 2015 grinds down, tax prep professionals are grappling with myriad and continuing issues with new rules, thin staffing and difficult clients, according to […] The post Busy Season 2015: Headaches from Obamacare appeared first on CPA Trendlines.
  • In a Pinch, Use Your Phone as a Scanner

    Beth Bellor
    24 Mar 2015 | 2:00 am
    With upfront scanning, 78% leverage on-screen review. By Roman H. Kepczyk Quantum of Paperless  One of the keys to optimizing accounting firm production processes is capturing information at its “root” source – the moment data enters your firm, regardless of the format – mail, fax, email or on a flash drive. MORE ON TECH SPENDING: Standardize […] The post In a Pinch, Use Your Phone as a Scanner appeared first on CPA Trendlines.
  • CPA Trendlines Subscribers Sound Off About 2015 Self-Filers

    Beth Bellor
    23 Mar 2015 | 5:54 am
    Some predict those clients will be coming back for cleanup. Tax professionals are sounding off in CPA Trendlines Comments on an apparent upsurge in do-it-yourself amateur self-filers while e-filing by professionals is lagging last year’s rates for four straights weeks so far. “Interesting that self-prepared is up and professionally prepared is down on a YTD […] The post CPA Trendlines Subscribers Sound Off About 2015 Self-Filers appeared first on CPA Trendlines.
  • Quote With Care When Asked for Valuation

    Beth Bellor
    23 Mar 2015 | 2:00 am
    12 issues that might not have been addressed. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I was asked to do a quote on a business valuation for a startup that will be raising money on their second stage financing. How do I quote this? ANSWER: This is a wide-reaching question and it is […] The post Quote With Care When Asked for Valuation appeared first on CPA Trendlines.
  • Tax Pros Start to Make Up for Lost Ground in Pace of 2015 E-Filing

    Beth Bellor
    23 Mar 2015 | 2:00 am
    IRS processing nearly 98 percent of returns received. Tax professionals e-filed more than 38 million returns through March 13, lagging 3.4 percent from the same time in 2014. Yet, that’s an improvement from last week’s 4 percent deficit. RELATED: Have Fun This Tax Season! | Tax Preparation Fees: The National Averages [INFOGRAPHIC] | IRS Form 3115: a Sin […] The post Tax Pros Start to Make Up for Lost Ground in Pace of 2015 E-Filing appeared first on CPA Trendlines.
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    Big4.com Blog

  • The Changing Face of Life and Annuity Insurance

    23 Mar 2015 | 4:10 pm
    By Rob Starr, Big4.com Content Manager Life and Annuity Insurance: Step up or be sidelined is a recently published Deloitte study explaining how CFOs can help to navigate challenging marketplaces. Report author and Deloitte principal, Wendy Huang, highlighted a change in customer behavior, a need for modernized technology and a talent gap when we talked to her about the report and how CFOs must assume roles outside of the finance function. “This is one in a series of papers that we are g...Keep on reading: The Changing Face of Life and Annuity Insurance
  • Getting Over The Confidence Myth

    23 Mar 2015 | 4:30 am
    By Rob Starr, Big4.com Content Manager Helene Lerner, CEO of Creative Expansions Inc., and the founder of WomenWorking.com has built a vast global following through one of the premier multimedia websites for career women with a robust social media presence. An Emmy-winning executive producer, Lerner has produced and hosted more than 20 televised specials and received the American Public Television’s MVP Award for her outstanding contributions to public television and numerous other awards. ...Keep on reading: Getting Over The Confidence Myth
  • If it’s Legal Is it Right? The Five Pillars of Integrity in Business

    20 Mar 2015 | 4:11 pm
    By Andrew Sobel, Big4 Guest Blogger Just because something is legal doesn't mean it’s right. And conversely, some things that are right aren't legal. Clearly, we don’t need a bookshelf full of legal tomes to tell us how to behave. We know in our hearts when we've acted ethically and with integrity, and so do our clients. For example, I watched Hillary Clinton’s recent press conference, where the presumed presidential candidate vigorously defended her (highly questionable) use of priv...Keep on reading: If it’s Legal Is it Right? The Five Pillars of Integrity in Business
  • Capgemini’s PR campaign to launch their 2014 World Wealth Report Lauded

    17 Mar 2015 | 4:08 pm
    By Rob Starr, Big4.com Content Manager Capgemini and RBC Wealth Management have been awarded the Best PR Program Award at the Family Wealth Report Awards 2015. The award is in recognition of the highly successful PR campaign to launch the collaborative  2014 World Wealth Report and Karen Schneider, Global Marketing Director, Capgemini Financial Services, answered some questions for Big4.com via email recently about both the recognition and the report. Can you supply a history of the World Wea...Keep on reading: Capgemini’s PR campaign to launch their 2014 World Wealth Report Lauded
  • Will Converged Systems Disintermediate Consultants?

    12 Mar 2015 | 6:14 pm
    [caption id="attachment_37855" align="alignright" width="173"] Alan Radding[/caption] Alan Radding, Big4.com guest blogger Your own book is the best way to build a consulting practice; ask me about ghostwriting your book Remember integrated systems? They proved a boon for consulting firms. Integrated systems were those for which companies bought expensive, complex middleware and hired some pricey consultants to make it all work together as intended. Those were good times for consultants. Now...Keep on reading: Will Converged Systems Disintermediate Consultants?
 
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    Success Starts Here

  • Practice Spotlight: Forensics and Litigation Support

    Bailey Ribich
    12 Mar 2015 | 11:24 am
    by Kristi Saeger, Talent Acquisition, PhiladelphiaGregory Cowhey, PrincipalIn April 2014, McGladrey was excited to announce the addition of a local Forensics and Litigation Support consulting practice in the Greater Philadelphia region. The practice is led by Principal, Gregory Cowhey, ASA CBA, and is based out of the newly renovated City Center office. Gregory came to McGladrey as a subject matter expert in the field of forensic accounting, business/intangible asset appraisal, economic damages and litigation support. Since joining, Gregory has built a team of six practitioners, ranging…
  • Cedar Rapids’ Employee honored with Tribute to Women of Achievement Award

    Bailey Ribich
    10 Mar 2015 | 11:59 am
    Carley Umstead, a senior manager in Cedar Rapids, Iowa has been recognized by Waypoint Services as a 2015 Tribute to Women of Achievement honoree. Umstead was named to the 'Women of Achievement in Leadership' category, and award for women who have accomplishments that go beyond a single company or organization, and favorably contribute knowledge or benefit an entire industry, professional or field."It takes people working together to make a measurable impact on our community," said Umstead, who adds she wants to be a part of the up-and-coming group that will continue to carry the torch for…
  • International transfer the realization of a lifelong dream for employee

    Bailey Ribich
    10 Mar 2015 | 10:11 am
    Kathy Maher estimates she's traveled to 15 or 16 countries. Her favorite destination? "Probably Switzerland," she says. "We did some hang gliding, hiking and canyoning - a lot of adventurous stuff when we were there." Her biggest adventure, however, is about to begin.As an assurance manager in McGladrey's Madison, Wisconsin office, Kathy is finalizing plans for an international transfer to Melbourne, Australia in June. She will transfer to RSM Bird Cameron in Australia's second-largest city. It's the culmination of a lifelong dream for the St. Louis native.Seeds planted by New Zealand…
  • Charlotte Office Named United Way Spirit of North Carolina Award Winner

    Bailey Ribich
    9 Mar 2015 | 8:48 am
    Laura Megahee, tax services senior manager, has led the Charlotte, North Carolina office's United Way campaign for the past four years. Over the years, she and many others involved in the campaign have worked hard to come up with new ideas and ways to engage and encourage McGladrey's Charlotte office to participate. This year, the office is being recognized for their efforts and all of the hours, energy, and money they have donated, by being named one of the United Way's Spirit of North Carolina award winners. In 2014, the Charlotte United Way campaign raised $47,369. Laura attributes this…
  • Celebrating Women’s History Month and Diversity

    Bailey Ribich
    2 Mar 2015 | 10:32 am
    Note to our readers: Some of the content in this blog update contains information from McGladrey: Beyond the Balance Sheet, Second Edition (1926-2013) by Kathleen Gilbert and Dan Deuel.March 2-8 is designated as 2015 National Women's History Week. This annual recognition of women's accomplishments always occurs during the first week of March. This years' theme, "Weaving the Stories of Women's Lives," presents an opportunity to weave women's stories - individually and collectively - into the essential fabric of our nation's history, and into the history of McGladrey.  Diane McNulty was an…
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    Jr Deputy Accountant

  • Richmond Fed Finally Realized Their Fed Experience Slogan Was Kinda Pervy

    Jr Deputy Accountant
    26 Mar 2015 | 6:36 pm
    I'm a little late to the party since Richmond Fed killed this catch phrase last year or so according to my source but I only noticed the other night as I was making my 6 mile workout loop through downtown Richmond the other day that the old banners were gone. I was kinda hurt they didn't offer me one, really.Kinda disappointed no one at @RichmondFed saved me the old "where you and the economy come together" Fed Experience banners *chortle*— Adrienne Gonzalez (@adrigonzo) March 24, 2015 When Richmond Fed first launched The Fed Experience, someone over there came up with a terrible catch…
  • Certain Senators Think Pesky Student Loan Debt Is Getting in the Way of Home Debt, So Let's Just Discharge It

    Jr Deputy Accountant
    16 Mar 2015 | 9:50 am
    You know, if you can't afford your student loans, you probably can't afford a mortgage or kids either. According to Illinois Senator Dick Durbin, the solution is to allow you to discharge your private student loans in bankruptcy so you can get on with "buying" that house you can't afford. Only a politician would think that's a good idea.Consumerist reports:The Fairness for Struggling Students Act of 2015 [PDF] would amend the current bankruptcy code, restoring the availability of bankruptcy relief for private student loans.The act, which was introduced by Illinois Senator Dick Durbin, and…
  • For the Next Month I'm Going All In on Experiencing the South, Won't You Come With?

    Jr Deputy Accountant
    15 Mar 2015 | 6:43 pm
    So now that I have found myself gainfully unemployed, I have all this free time on my hands. And since I've seen almost all seasons of Mad Men and have beaten both Fallout3 and Fallout: New Vegas as both good and bad characters, I asked myself what next?Richmond, VA is full of history -- some questionable at best -- and I've seen a lot of it on my 6 mile walks through town. But I asked myself, in questioning what comes next, what haven't I seen? And what should I?As most of you know, I'm a Yank. Rather, a 3rd generation American by way of my Finnish/Polish immigrant great-grandparents who…
  • Most Americans Don't Know Who the Fuck Janet Yellen Is Because Most Americans Are Idiots

    Jr Deputy Accountant
    14 Mar 2015 | 6:07 pm
    You know, it's kind of funny that for all the years I hated on Ben Bernanke, my least favorite Fed president would take his place eventually. Some may think Janet Yellen is an intelligent dove but I think she's an inflationary piece of beef jerky with a pulse, and haven't been afraid to say as much over the years.So why is it so few Americans know her name? Well, gee, maybe because they're idiots? Maybe because they don't have even the most remedial understanding of what goes on at the Fed?WSJ reports:Most Americans have not heard of Federal Reserve Chairwoman Janet Yellen, according to a new…
  • This Picture of the Richmond Fed Says It All

    Jr Deputy Accountant
    13 Mar 2015 | 2:44 pm
    Check out this deliciousness I stumbled upon while on a 6 mile walk the other day. When you see it...
 
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    One Accounting

  • Auto Enrolment – FAQ’s

    Chris Thomas
    25 Mar 2015 | 7:05 am
    In the second of our auto enrolment newsletters we are going to look at the terminology of auto enrolment and also some of the key facts. As an employer it is important that you understand your obligations, as ultimately it is you that is required to make sure that you meet them. Although you may enlist the help of a 3rd party (such as ourselves) in order to help you ensure you comply, ultimately the buck stops with you. What is a staging date? This refers to the date when legal duties come into effect requiring an employer to enrol some or all of their workers into a qualifying pension…
  • How to claim the new marriage allowance and save up to £212 in tax

    Chris Thomas
    18 Mar 2015 | 9:45 am
    A new tax allowance is available from 5th April 2015 for married couples and those in a civil partnership. But to claim the allowance, one partner must have total taxable income of less than £10,600 in the 2015/16 tax year. Total income includes employment income, pension income, rental income, and money you receive from bank interest and share dividends. If both partners have income above £10,600, then the Marriage Allowance cannot be claimed. How It Works From April, anything you earn up to £10,600 will be tax free. Up to £1,060 or 10% of this allowance can be transferred from a low…
  • Auto enrolment – We’re here to help

    Chris Thomas
    6 Mar 2015 | 7:23 am
    Pensions legislation is undergoing one of the most significant changes in its history and as an employer you will be involved whether you want to be or not! As with recent changes such as RTI the burden of change is being hoisted on to the employer. For large employers, with significant resources, this can increase the costs of compliance, but for the smaller employer it can mean that already scarce resources are stretched to breaking point, or you as the employer have to add yet another task to an already full workweek. Regardless of whether you agree with the auto enrolment initiative or…
  • RTI Reports and Penalties

    Chris Thomas
    10 Feb 2015 | 7:30 am
    Real time information (RTI) was supposed to make the reporting of PAYE easier for employers, but it has introduced more filing deadlines, and new penalties for missing those deadlines. Every employer must now send a full payment submission (FPS) report every time they pay employees, on or before the payment date. There is some relaxation for certain employers who have fewer than ten employees. If no payment has been made to employees in the tax month the employer should submit an employer payment summary (EPS) by 19th of the following tax month. Alternatively where the employees will be paid…
  • Are you thinking of incorporating your business?

    Chris Thomas
    20 Jan 2015 | 8:18 am
    When a business incorporates and transfers its trade and assets to a company controlled by the seller, the assets must be transferred at open market value for tax purposes. The assets may include “goodwill” which is defined as the business reputation or customer relationships, including the value of continuing contracts. The transfer of the assets may generate a taxable capital gain in the hands of the seller, as the assets will have appreciated in value during the time they were used or created by the first business. Capital gains tax will arise on those gains, but there are…
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    Intuit News Central

  • Add Net Promoter Scores to Your Tax Client Feedback Plan

    Joel Hodges
    26 Mar 2015 | 12:19 pm
    If your marketing plan doesn’t include a strategy to generate regular feedback from your clients, now is the time to develop and implement it. Client surveys are among the easiest ways to gauge your professional performance. It’s as simple as asking, yet many tax preparers fail to seize these opportunities. And, when they do, they often don’t ask the right questions. Enter Net Promoter Score (NPS), a loyalty metric that lets companies measure client satisfaction. The Net Promoter Score asks one question: How likely is it that you would recommend this company to a friend or colleague?
  • Above the Forms: Fraud Associated With the Earned Income Tax Credit Remains High

    Mike D'Avolio
    25 Mar 2015 | 7:54 am
    The Treasury Department reports that fraud continues to be prevalent in the earned income tax credit (EITC) program. The IRS estimates that 22-26% of EITC payments were issued improperly in 2013, which resulted in a dollar value between $13.3 and $15.6 billion. According to an IRS report titled Compliance Estimates for the EITC Claimed on 2006-2008 Returns, which was issued in August, 2014, unenrolled return preparers reported 54% of over-claims on tax returns with the Earned Income Tax Credit. Income misreporting is the leading error type, while problems related to qualifying children make…
  • Intuit® Tax Online Customer Spotlight on James Sarubbi

    Scott Cytron
    24 Mar 2015 | 1:13 pm
    We found James Sarubbi, an Advanced Certified QuickBooks ProAdvisor who lives in Rancho Cucamonga, California, on Facebook’s Coffee Talk, a discussion forum for Intuit Tax Online users. In this profile, find out more about James, his client base and practice, and even a little bit about his personal pursuits. Intuit: What motivated you to start your own practice? James: Starting my own practice gave me the control I wanted to be able to be my own boss, as well as the flexibility to take on, and help, small businesses grow their companies. Intuit: If you had to pinpoint one aspect of your…
  • Get Forms 8878 & 8879 Signed Online to Save Time

    Joel Hodges
    24 Mar 2015 | 6:00 am
    Tax professionals who struggle to persuade their clients to sign and return their Declaration of Taxpayer forms in a timely manner can relax this tax season. For the first time, the IRS is allowing the form to be signed electronically. Using electronic signatures eases filing pressures for tax preparers and their clients during a period when time is at a premium. Returns can be completed faster, the IRS can process them sooner and taxpayers can receive refunds quicker. Forms 8878 and 8879 are declaration documents required by the IRS when a tax preparer files an electronic return on behalf of…
  • How to Create Excel Reports or Pivot Tables From QuickBooks® Data

    Hector Garcia
    23 Mar 2015 | 11:29 am
    The best and fastest way to get a lot of QuickBooks data into Excel to create reports or pivot tables is to use QB2EXCEL, a free add-on to QuickBooks. Note it only works with QuickBooks Pro, Premier, Accountant or Enterprise; it is not available for QuickBooks Online or QuickBooks Mac. Watch the video here or click on the box below. Here’s an article explaining more about this, too. Share and Enjoy:
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    AICPA Insights

  • Snow White Meets the IRS and Other Fractured Fairy Tales

    Ann Marie Maloney
    26 Mar 2015 | 4:00 am
    If you have ever watched the television show Once Upon a Time (one of my favorites) you know that it offers some compelling twists on popular children’s stories. Peter Pan author J.M. Barrie was probably rolling in his grave when his main character, a lighthearted kid who just doesn’t want to grow up, emerged as an evil teenager, but at least a relatively happy ending followed.  Watching the show and working for the world’s largest association of CPAs got me thinking:  what would our beloved fairy tales be like if a CPA were to write them and perhaps play a role?  Here…
  • Cathy Engelbert Makes History This Women’s History Month

    Guest Blogger
    24 Mar 2015 | 4:00 am
    Every March, Americans honor the contributions of both notable and ordinary women by celebrating Women’s History Month. Two pioneering women within the accounting profession were Christine Ross and Mary T. Washington. In 1899, Ross became the first female CPA in the U.S. Nearly 50 years later, Mary T. Washington became the first black woman CPA in the U.S.  Since then, an increasing number of women have entered the profession, and today, half of all undergraduate and graduate accounting students are women. Cathy Engelbert Writes a New Chapter Now in 2015, there is a new reason to…
  • Reasoning with Reasonability

    Claudia Cieslak
    23 Mar 2015 | 6:58 am
    There is an abundance of terms and phrases that American’s use to make the act of savings feel less painful, like evaluating, bargaining, or prioritizing. But no matter how you phrase it, saving can be difficult for even the most responsible person, especially with matters that have a strong emotional component. For instance, when it comes to once in a lifetime events, like a wedding, people are much quicker to concede on their financial plan. In fact, according to The Knot's annual Real Weddings Study, the average cost of a wedding (excluding the honeymoon) reached an all-time high of…
  • Learning that’s Ready When You Are, Wherever You Are

    Arleen Thomas, CPA, CGMA
    16 Mar 2015 | 4:00 am
    Between the demands of the job I love, my travel schedule (hectic even when the flights are hassle-free and on time) and my family commitments, there’s just not much time left in the day. Sound familiar? In our profession, sometimes “free time” seems like a non-existent commodity. On top of all of this, I’m always looking for opportunities for learning. But when? And with so many great options for CPE coming from so many varied sources, wading through it all can be both daunting and time prohibitive.  At the airport recently, I had a little time to kill before my flight and…
  • Chicken & Waffles + Potato Chips = Innovation

    Guest Blogger
    13 Mar 2015 | 4:00 am
    Ever heard of Chicken & Waffles potato chips? What about Dulce Almond ice cream? Frito-Lay and Ben & Jerry’s came up with these unique flavor ideas by soliciting opinions and contributions from large groups of individuals, a process known as idea crowdsourcing. Idea crowdsourcing is an excellent method to gather collective knowledge and gauge market interest. Future-focused companies are increasingly turning to idea crowdsourcing to gain insights, gauge market interest and ignite innovation. They see organizational enhancements as well as external benefits like improved customer…
 
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    OSYB Number Crunch! Bookkeeping Tips from Outsouce Your Books.

  • How to Get Paid for Your Expertise, Advice and Other Intangibles

    OSYB Staff
    24 Mar 2015 | 10:01 pm
    Generally speaking, freelancers, consultants and small business owners have three options to ensure they get paid for their intangibles: increasing hourly rates, charging a retainer fee or getting paid per project. Let’s examine each of these options, as well as their associated pros and cons, and see what works best for you. Read more. 
  • Biz journalism legend Sloan has left Fortune

    OSYB Staff
    2 Mar 2015 | 9:00 pm
    Allan Sloan, considered one of the top business journalists of the past 50 years, has left Fortune magazine, where he was a senior editor at large. Sloan, however, has been continuing to write a column for the Washington Post since then that runs on Fridays. Read more about Allan Sloan. 
  • Brian Williams’ $5 Million Fib: 4 Little Lies that Can Cost You Your Job

    OSYB Staff
    2 Mar 2015 | 9:00 pm
    We’re all prone to tell a “harmless” little falsehood now and then. Your baby is so cute! No, those pants don’t make your butt look big. The check is in the mail. We all know the routine. And it’s something we do at work, too. Read about how lies could cost you.   
  • Best Money Tips: Ways You’re Being Tricked to Spend More

    OSYB Staff
    1 Mar 2015 | 9:01 pm
    Some great articles on the ways you’re being tricked into spending more, how to decorate on a budget, and the ways your employer can help you save money. A listing of the top 5 articles for saving money and some other essential reading for your week. See titles here. 
  • 3 Ways to Get Publicity for Your Small Business

    OSYB Staff
    1 Mar 2015 | 9:01 pm
    Michelle Tennant says there are three types of publicity. The two you can control are owned media, which is your website or social media accounts, and paid media, which is your paid advertising. You receive the third type, earned media, when you catch the attention of a media outlet. Read more. 
 
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    Presti & Naegele

  • March 2015 Newsletter

    pntsuper
    23 Mar 2015 | 1:30 am
    Joe Romano discusses Rev. Proc. 2015-20 and how the IRS provides repair regulations relief for small businesses. Andy Presti talks about tax legislation and reform cautiously move forward in new Congress. The post March 2015 Newsletter appeared first on Presti & Naegele.
  • FAQ: What is new Form 1095-A, Health Insurance Marketplace Statement

    Steve Grgas
    13 Mar 2015 | 10:23 am
    Form 1095-A, Health Insurance Marketplace Statement, is a new information return. The IRS requires the Health Insurance Marketplace to report certain information about every individual who receives health insurance coverage through the Marketplace to the agency and also to the enrollee. Form 1095-A reports information about the individual(s) covered by Marketplace coverage, the starting and ending dates of coverage, and the insurer that provided coverage. Form 1095-A also reports the cost of coverage, the plan’s total monthly payment, any advance payment, and more. Copies to IRS and…
  • March 2015 tax compliance calendar

    Wayne Naegele
    13 Mar 2015 | 10:18 am
    As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of March 2015. March 2 Employers. File Forms 1097, 1098, 1099, 3921, 3922, and W2G with the IRS for certain payments made in 2014. Such payments may include, but are not limited to, the following: cash payments for fish purchased from anyone engaged in the trade or business of catching fish; compensation for workers who are not considered employees;…
  • Tax legislation and reform cautiously move forward in new Congress

    Andrew Presti
    13 Mar 2015 | 9:59 am
    The White House and the new Congress continue to look for common ground on tax legislation and tax reform in 2015. Both sides say tax reform is possible in 2015 and behind the usual rhetoric there seems to be a real drive to move tax reform in the 114th Congress. Reform could be similar to the comprehensive package moved nearly 30 years ago in the Tax Reform Act of 1986, or, as many observers predict, will take a new track to reflect a vastly different economy and Tax Code compared to 1986. Tax bills The two tax writing committees-House Ways and Means and Senate Finance-have so far approved a…
  • IRS provides repair regulations relief for small businesses

    Joseph Romano
    13 Mar 2015 | 9:56 am
    In Rev. Proc. 2015-20, the IRS substantially simplified the requirements for small businesses to adopt the tangible property regulations (the “repair regulations”) for 2014. The relief allows small businesses to change their accounting methods, to comply with the regulations, without having to apply Code Sec. 481 and without having to file Form 3115, Application for Change in Accounting Method. The repair regulations are broad and comprehensive, applying to any business that uses tangible property. The regulations totally redo the rules for deducting and capitalizing expenses…
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    It's Taxing - Bond Beebe

  • New Guidance from IRS is Great News for Small Businesses

    26 Mar 2015 | 12:42 pm
    The IRS Provides New Guidance on Tangible Property Regulations The New Repair Rules have been a hot topic in the tax community since their release. While they provided much needed guidance regarding the capitalization and disposal of tangible property, they also required businesses to file numerous change of accounting method forms (3115) in order to adopt them. This put a significant burden on businesses. Fortunately, the IRS released Rev. Proc. 2015-20 a few days ago. This revenue procedure eases the process of adopting the new regulations for small business. Essentially, the IRS will now…
  • New Applicable Federal Rates Released for April by IRS

    26 Mar 2015 | 10:19 am
    Each month, the IRS provides various prescribed rates for federal income tax purposes. These rates, known as Applicable Federal Rates (AFRs), are regularly published as revenue rulings. The AFRs for April 2015 are as follows:   Annual Semi-Annual Quarterly Monthly Short-Term: 1-3 years 0.48% 0.48% 0.48% 0.48% Mid-Term: >3 & up to 9 years 1.70% 1.69% 1.69% 1.68% Long-Term: >9 years 2.47% 2.45% 2.44% 2.44%
  • The IRS Dirty Dozen: Unscrupulous Tax Preparers

    18 Mar 2015 | 11:22 am
    Posting by John Merchant The Internal Revenue Service (IRS) has released its annual “dirty dozen” for 2015. The annual dirty dozen are the top twelve tax related scams that IRS has found are being perpetrated on unsuspecting victims each year. Once again, Unscrupulous Tax Preparers are on the list. The IRS reports that approximately 60% of all taxpayers use a paid preparer. While IRS acknowledges that most preparers provide very good service, every year there are some that run scams to defraud the government or to cheat their clients. Either way, the results can be devastating as these…
  • Everyone wants it now! - A Summary of the 2015 Annual Gift Tax Exclusion & Other Non-Taxable Gifts

    4 Mar 2015 | 12:09 pm
    The Federal gift tax return (Form 709) is a function of the overall Federal transfer tax system. Excluding any discussion on the Generation-Skipping Transfer tax for now, the rules just to report gifts on a gift tax return are very complex. All gifts are not reportable on a Federal gift tax return, however it is important to understand what the IRS considers a gift: A gift is the transfer of a beneficial interest in certain property in exchange for something less than full and adequate consideration. Common examples would include cash gifts for life
  • New Applicable Federal Rates Released for March by IRS

    20 Feb 2015 | 10:43 am
    Each month, the IRS provides various prescribed rates for federal income tax purposes. These rates, known as Applicable Federal Rates (AFRs), are regularly published as revenue rulings. The AFRs for March 2015 are as follows: Annual Semi-Annual Quarterly Monthly Short-Term: 1-3 years 0.40% 0.40% 0.40% 0.40% Mid-Term: >3 & up to 9 years 1.47% 1.46% 1.46% 1.46% Long-Term: >9 years 2.19% 2.18% 2.17% 2.17%
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    Investment & Small Business Accountants

  • Accountant Next Door Small Business Inbox | Mini Guide to Successful Entrepreneurship

    chinweike
    22 Mar 2015 | 4:13 pm
    In this comprehensive small business management guide, we will practically take you by hand and walk you through the process of starting and running your successful small business. What you are about to read in this little but mighty successful small business management guide are what you cannot get for free from any other experienced […]The post Accountant Next Door Small Business Inbox | Mini Guide to Successful Entrepreneurship appeared first on Investment & Small Business Accountants.
  • Clean Data, Not Big Data – That Is What Makes Small Businesses Successful

    chinweike
    18 Mar 2015 | 3:18 pm
    Big data does not make a small business successful but clean and useful data does. Successful small business owners already know that and are bountifully reaping benefits by simply recognising the difference between big data and clean data. Billions of pounds have been spent by businesses in the quest to join the big data wave. […]The post Clean Data, Not Big Data – That Is What Makes Small Businesses Successful appeared first on Investment & Small Business Accountants.
  • Things to consider by a small business when shopping for office filing cabinet

    chinweike
    14 Mar 2015 | 2:32 pm
    SMALL BUSINESS FILING CABINET | YOUR OFFICE SAYS IT ALL The last thing that any small business would like to do is to lose a prospective client simply because the office is in a mess. Things have to be organized in and around an office environment. I was recently contacted by an associate who work […]The post Things to consider by a small business when shopping for office filing cabinet appeared first on Investment & Small Business Accountants.
  • WAYS TO IMPROVE CASH FLOW OF A STRUGGLING SMALL BUSINESS

    chinweike
    13 Mar 2015 | 3:11 pm
    In this article, we will be talking about ways to improve cash flow of a struggling small business. This is that aspect of business studies that teaches entrepreneurs simple techniques that will help improve the cash flow of a struggling small business. A company without cash is like a dead man walking. And that is […]The post WAYS TO IMPROVE CASH FLOW OF A STRUGGLING SMALL BUSINESS appeared first on Investment & Small Business Accountants.
  • Small Business Copywriting Skills and Techniques | A Must Have For Entrepreneurs

    chinweike
    9 Mar 2015 | 6:24 am
    Acquiring small business copywriting skills and techniques does not require a degree or MBA in writing if there is anything like that. All you need is basic writing skills and the ability to relate to people’s emotion and then write to fill a need.   If you own your small business and still don’t know […]The post Small Business Copywriting Skills and Techniques | A Must Have For Entrepreneurs appeared first on Investment & Small Business Accountants.
 
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    Energized Accounting

  • Canada Tax – Release 4 Now Available for ProFile

    Bill Kennedy
    25 Mar 2015 | 10:40 am
    The #CRA is hungry! #Accountants, keep them on a diet by updating your Profile software Canada Tax – Release 4 Now Available for ProFile ProFile R4 has several additions and improvements, starting with our online support chat, which originally launched at the beginning of this tax season. We’ve been getting such great feedback about … [Read More…] accountantvip The post Canada Tax – Release 4 Now Available for ProFile appeared first on Energized Accounting.
  • Intuit partners with @Bigcommerce and @Shopify

    Bill Kennedy
    25 Mar 2015 | 10:04 am
    @Startup_Canada ecommerce experts love @Shopify – Glad @QuickBooksCA is partnering with them Intuit partners with @Bigcommerce and @Shopify QuickBooks Payments now integrates with Bigcommerce and Shopify, with QuickBooks Online integration coming next! accountantvip The post Intuit partners with @Bigcommerce and @Shopify appeared first on Energized Accounting.
  • Can One Lazy Employee Destroy Your Team?

    Bill Kennedy
    25 Mar 2015 | 8:40 am
    Can One Lazy Employee Destroy Your Team? Can One Lazy Employee Destroy Your Team? Peer effects are directly responsible for the work ethic of one team member mirroring that of another. Is your coworker setting a good example, or a bad one? And how is that affecting the teams’ productivity? Those who have reading … Read » accountantvip The post Can One Lazy Employee Destroy Your Team? appeared first on Energized Accounting.
  • What’s up in @QuickBooks Online APPS: March 24…

    Bill Kennedy
    24 Mar 2015 | 3:40 pm
    Newest @QuickBooks Online #Accounting apps – note: not all work with the Canadian version What’s up in @QuickBooks Online APPS: March 24… New QuickBooks apps: Kickserv Field Service Software, ScanWriter Plus, Fundera, and LimeSurvey | Featured app: Fundbox accountantvip The post What’s up in @QuickBooks Online APPS: March 24… appeared first on Energized Accounting.
  • Intuit Canada and Startup Canada to reduce…

    Bill Kennedy
    24 Mar 2015 | 7:24 am
    Intuit Canada + #Startup Canada to reduce startup failures: financial literacy initiative Intuit Canada and Startup Canada to reduce… Startup Canada and Intuit Canada aim to reduce startup failure in the country through a national, grassroots initiative to secure integration in local startup networks of high calibre tools, technology, and accredited advisors needed for financial success. “Startup success and failure hinges on an entrepreneur’s ability to make sound financial decisions,” said Victoria Lennox, CEO and Co-Founder of Startup Canada. “This new, nation-wide program…
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    The Accountancy Partnership

  • Famous Entrepreneurs and their Superhero Alter Egos

    kbilby
    26 Mar 2015 | 3:05 am
    “With great power comes great responsibility.” The advice that Peter Parker’s uncle gave to the nerdy kid behind the Spiderman mask could also serve today’s entrepreneurs quite well. After all, superheroes and entrepreneurs have quite a lot in common. They both have to gain the public’s trust, build a brand from scratch and make a lot of personal sacrifices for the greater good. With this in mind, we’ve delved into the world of comic books and found the superhero alter egos of some of the world’s most famous entrepreneurs. Steve Jobs as Professor Xavier An iconic leader in the…
  • Tories pledge to take a million out of higher rate tax

    kbilby
    24 Mar 2015 | 6:37 am
    The recent 2015 Budget will benefit 100,000 taxpayers who will be removed from the higher rate tax threshold. Other tax changes have also been announced to benefit UK taxpayers. Chancellor George Osborne also made a number of pledges that would be introduced if the Conservatives are reelected in the General Election in May this year.   Rates and reasons Currently, the higher rate threshold is set at £41,865, which means that income above this is taxed at the higher rate of 40%. The threshold will be increased at a rate which is above inflation, to £42,385 from April 2015. The…
  • Annual tax returns to be abolished

    kbilby
    23 Mar 2015 | 4:56 am
    Businesses and individuals currently filing a yearly self-assessment tax return will soon be able to access a ‘real time’ digital account in order to pay their tax bill throughout the year, similar to Pay As You Earn. George Osborne, the Chancellor, recently announced that online accounts recording real time information would replace paper and online tax returns currently completed. The changes will take place as early as 2016, when 10 million individuals and five million businesses will change to the new accounts, and the plan is to complete the switchover by 2020. What are the…
  • HMRC says abolishing IR35 would cost £550m

    kbilby
    20 Mar 2015 | 3:45 am
    According to figures released by HM Revenue & Customs (HMRC), removing the IR35 legislation would, in monetary terms, hit taxpayers harder than administering the regime. The cost of continuing to operate IR35 is estimated at £16m a year, while the cost of abolishing the legislation is estimated at £550m annually. IR35 has always been a contentious piece of legislation, creating a public outcry in 2012 when 2,000 senior public body office holders were described as receiving payments that hadn’t been included in a payroll. Further problems were caused when it was later disclosed…
  • What’s stopping small businesses from exporting?

    kbilby
    18 Mar 2015 | 3:03 am
    In a climate of strengthening business growth and economic prosperity, budding SME exporters should be feeling more confident than ever about sending their goods and services overseas. According to the BCC (British Chambers of Commerce) almost one in five service sector firms are currently on the verge of exporting. So what’s holding small businesses back? BBC figures showed that for 32% of those exporting for the first time, excessive overseas regulation was seen as the biggest barrier, while according to a . BSI survey, one in four SMEs fear external regulations will hinder international…
 
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    The Cheap Accountants

  • Small Business Guide to Alternative Funding

    admin
    24 Mar 2015 | 3:05 am
    It appears that banks are closing their doors to start-up businesses, but that shouldn’t deter entrepreneurs from seeking funding. In fact, there are more funding options open to start-ups than ever before, as new services are emerging to fill the gap. Founder and Chief Executive of Blaze, Emily Brooke, has tried several different sources of funding for her business which provides innovative products for urban cyclists. Early on in her start-up Brooke used Seedrs, an equity-based crowdfunding platform, and Kickstarter, where she achieved her target of £25,00 in just a few days. She chose…
  • Small businesses expect turnover to increase in 2015

    admin
    16 Mar 2015 | 8:14 am
    Approximately half of small businesses in the UK expect their turnover to increase in the next 12 months, according to research by the Department for Business, Innovation and Skills. The Small Business Survey 2014 is based on a poll of more than 4,000 small businesses with no more than 249 employees across the UK. The study revealed that 78% of those asked said they made a profit in the past 12 months. This is up by 6% from 2012 figures and consistent with pre-recession levels. More than a third (40%) of respondents said that their turnover had increased over the past year. This compares to…
  • Immigrants and Baby Boomers are fueling the Rise of the Entrepreneur

    admin
    12 Mar 2015 | 9:11 am
    The rapid increase in start-ups suggests that the 2020s could be one of the best decades for the UK economy in a long time. Over the past few years the UK economy has confounded experts again and again Despite the dire warning about the impact of mild cuts in government spending, growth has strengthened. Inflation has fallen to the lowest levels in a generation and jobs are being created in record numbers. In the long term, the most significant effect is the surge in entrepreneurship. London’s Tech City on Silicon Roundabout gets most of the publicity, but the UK’s boom in new companies…
  • How to Create Your Breakthrough Business Moment

    admin
    10 Mar 2015 | 2:44 am
    Starting up a business can feel like a long and fruitless slog – until you reach your turning point and you can do no wrong. A breakthrough moment is often a case of luck, but small businesses can encourage the success and growth they desire by networking, upping social media activity and finding a great mentor. How can marketing help? After spending money on initial set-up costs such as workspace and website design, marketing can sometimes feel like an afterthought and less important. Managing Director of Platform Black, Caroline Langron, says, “I would clearly identify what you are…
  • Find, Hire and Work With a Great Accountant

    admin
    3 Mar 2015 | 1:55 am
    Hiring an accountant for your small business can be expensive, so you may wonder if you really require one. And what, beyond filing your tax return, do you need them for? But if you’re serious about growing your business, you need a great accountant, because they can help you make those long-term strategic financial decisions. They can also help with: Lease negotiations Cash and treasury management Ongoing tax reporting Financial planning   Finding an accountant that’s right for you   The best advice is to work with someone who really understands your business and its ambitions.
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    Jetpack Workflow » Blog

  • Metrics & KPI’s for Accountants … what to track?

    Jetpack Workflow
    23 Mar 2015 | 2:36 pm
    It’s common for many CPA Firms, Accountants, and Accounting Practices to have no shortage of metrics and KPI’s to track… but the biggest issue is what are important metrics vs vanity metrics? Vanity Metrics would be anything that is measurable (a common example might be website visitors) but do not correlate with actual growth. Proper... Read more » The post Metrics & KPI’s for Accountants … what to track? appeared first on Jetpack Workflow.
  • Lesson Nine: Putting it Into Practice

    Jetpack Workflow
    20 Mar 2015 | 7:58 am
    Congrats! If you made it this far, you’re already 90% ahead of most marketers. If you have need to recap all the lessons we’ve gone through so far, you can do so here. In this final lesson, we’re going to cover how to bring everything together. How to implement, take action, review, adjust, and accelerate... Read more » The post Lesson Nine: Putting it Into Practice appeared first on Jetpack Workflow.
  • Lesson Eight: Referral Systems

    Jetpack Workflow
    17 Mar 2015 | 5:39 am
    Referrals can often be the #1 source of new business for many accounting professionals and CPA Firms, but these typically are “chance” referrals…you have to idea how to plan for growth because they’re typically “random referrals”. This lesson will focus on a few different referrals systems you can set up to systemized your referrals. You... Read more » The post Lesson Eight: Referral Systems appeared first on Jetpack Workflow.
  • Delivering Value Driven Service: The Ed Kless Interview

    Jetpack Workflow
    12 Mar 2015 | 5:50 am
    This week we’re excited to release our interview with Ed Kless, Senior Fellow at VeraSage, Senior Director, Partner Development and Strategy at Sage, and co-host at the Soul of Enterprise We Cover: Difference between duration and effort (and which one is more important to the client The new KPI’s for the Modern Accounting Firm Why Ed... Read more » The post Delivering Value Driven Service: The Ed Kless Interview appeared first on Jetpack Workflow.
  • Lesson Seven: Where to Find Leads (Part 3: Partnerships)

    Jetpack Workflow
    10 Mar 2015 | 6:16 am
    In part 1 and part 2, we covered how networking events, matched with paid marketing can be a powerful combination. Now let’s take a look at an often unforgotten channel, which is partnerships! Often times we leave partnerships to “chance”, but as you’ll see, being strategic can make a huge impact to your firm or... Read more » The post Lesson Seven: Where to Find Leads (Part 3: Partnerships) appeared first on Jetpack Workflow.
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    Forensic Perspectives

  • Hidden Taxes in Divorce

    Mark S. Gottlieb
    27 Feb 2015 | 12:38 pm
    When the CEO of Continental Resources, Harold Hamm, divorced from his wife, Forbes published an article about the possible tax consequences. The settlement ordered Hamm to pay his former wife $995.5 million. Forbes asked the obvious question: with this kind of hefty transaction, the tax man must surely get his share, right? Not quite. According to law, transfers of property between spouses during a divorce are virtually tax free. Good news for the Hamms. However, there are often unseen tax burdens later on. Code § 1041 of the U.S. Internal Revenue Code lays out the rules for the taxation of…
  • 5 Services Forensic Accountants Provide During a Matrimonial Dispute That May Surprise You

    Mark S. Gottlieb
    25 Feb 2015 | 2:09 pm
    Perhaps the most expensive divorce in history occurred when Russian billionaire Dmitry Rybolovlev was ordered to pay $4.5 billion to his ex-wife Elena. One of the charges Elena made against her husband was that he had attempted to hide assets in property bought hastily before his divorce. Even in cases where there is less money at stake, an attorney needs help in going through these financial matters. That is where the aid of a forensic accountant comes in. Below are five surprising services a forensic expert can offer during a matrimonial dispute. Preparation of a Net-Worth Statement  A…
  • Estate Tax Strategies for Second Marriages

    Mark S. Gottlieb
    25 Feb 2015 | 11:00 am
    Second marriages are not only for Hollywood celebrities like Brad Pitt or Reese Witherspoon. According to the Pew Research Center, 40 percent of marriages today are second marriages. Often second marriages face many complications. Whether it is the terms of a prior divorce, finding a way to harmonize their two career paths, or children from a previous marriage, the situation can become very complex. A necessary thing to consider during a second marriage is estate planning. Usually, in a first marriage, the estate planning is straight forward. However, in a second marriage, especially one with…
  • Why You Should Farm Out Business Valuation to Specialty Firms

    Mark S. Gottlieb
    28 Jan 2015 | 11:17 am
    A 2014 Grant Thornton International Business Report indicates that 29% of privately-held businesses worldwide expect to transfer ownership within the next ten years. This points to the significance of accurate business valuations. Whether or not a business anticipates a change of hands or is trying to get a better understanding of the marketplace, proper business valuation is crucial. Accounting services are often branded under a sole, universal category. Nonetheless, different levels of certification allow CPAs and specialty firms the opportunity to work together in a team-oriented fashion…
  • Cross-Examining a Financial Expert – Part I

    Mark S. Gottlieb
    25 Nov 2014 | 6:58 am
    We’ve seen it in the movies. A cross-examination where an attorney seeks to identify weaknesses in an opposing side’s conclusions by questioning a witness. Often an entire case can hinge on a cross-examination. As opposed to direct examination, where the exchange between lawyer and witness is warm and fuzzy, cross-examination is often hostile. In financial litigation, expert witnesses are often certified forensic accountants. If the opposing side is using a forensic accounting expert as a witness, it is important to retain one as well. In their role as a litigation support analyst, the…
 
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    Kostecke CPA

  • Tax Liability: How To Avoid Federal Tax Underpayment Penalties

    Jann Kostecke
    18 Mar 2015 | 9:58 am
    Tis the season for 2015 tax estimates and figuring out how much this year’s quarterly Read more The post Tax Liability: How To Avoid Federal Tax Underpayment Penalties appeared first on Kostecke CPA.
  • A Tax Preparation Checklist Can Save You Time and a Lot of Grief

    Jann Kostecke
    14 Jan 2015 | 2:42 pm
    Last year at around this time I provided some tips on how to save money Read more The post A Tax Preparation Checklist Can Save You Time and a Lot of Grief appeared first on Kostecke CPA.
  • Business Planning: Take Action to Prevent Extinction

    Jann Kostecke
    10 Oct 2014 | 5:00 am
    When you read that the New York Stock Exchange (NYSE) might not be around in Read more The post Business Planning: Take Action to Prevent Extinction appeared first on Kostecke CPA.
  • Why You Need A Business Budget

    Jann Kostecke
    2 Sep 2014 | 5:30 am
    I have read posts by really smart people that are pretty negative on budgets. Why? Read more The post Why You Need A Business Budget appeared first on Kostecke CPA.
  • Are business gifts and awards tax deductible?

    Jann Kostecke
    19 Aug 2014 | 5:30 am
    Many entrepreneurs and small businesses are not aware of the tax implications of gifts given Read more The post Are business gifts and awards tax deductible? appeared first on Kostecke CPA.
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    truthbehindnumbers.com

  • Fraud Detection Services in Elder Financial Abuse Cases

    Veriti 2014
    24 Mar 2015 | 3:18 am
    In the United States, there are over 40 million people over the age of 65, making up 13% of the population.  By 2020, people over the age of 65 are projected to comprise 20% of the population.  Advances in medicine are allowing senior citizens to live much […] The post Fraud Detection Services in Elder Financial Abuse Cases appeared first on .
  • 4 Tips on Finding an Economic Damages Expert

    Veriti 2014
    16 Mar 2015 | 6:11 pm
    If you are involved in a lawsuit, and you are seeking damages, how do you know how much money you will receive?  What you need is objective evidence that demonstrates your losses.  To get this type of evidence, you need an economic damages expert. An economic damages […] The post 4 Tips on Finding an Economic Damages Expert appeared first on .
  • When Do You Hire A Financial Fraud Investigation Firm?

    Veriti 2014
    10 Mar 2015 | 2:35 am
    Almost anyone may end up being a victim of financial fraud.  Between insurance fraud, elder abuse, investment fraud and other financial scams, there are ample opportunities for people to lose their money.  Do you know what to do if you suspect that you or a loved one […] The post When Do You Hire A Financial Fraud Investigation Firm? appeared first on .
  • 4 Most Commonly Used Methods By Corporate Valuation Services

    Veriti 2014
    3 Mar 2015 | 12:52 am
    If you are considering buying or investing in a business, how do you know exactly what the business is worth?  In most cases, the buyer and the seller have different ideas of what the business is worth.  The seller has often spent a large amount of time […] The post 4 Most Commonly Used Methods By Corporate Valuation Services appeared first on .
  • Economic Damages Calculation Services in Wrongful Death Cases

    Veriti 2014
    24 Feb 2015 | 1:05 am
    When a loved one dies, you will face one of the most difficult times in your life.  There is no way to avoid death; it is an unfortunate part of life.  If the loss of your loved one will harm you financially, you might file a “wrongful […] The post Economic Damages Calculation Services in Wrongful Death Cases appeared first on .
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    Accounting Macros

  • Macro: Comments and Highlights

    AccountingMacros
    15 Mar 2015 | 5:02 pm
    This macro is a great review tool if you use a lot of comments and highlights while editing your worksheets. Running this macro will generate a new tab at the front of your worksheet with a listing of every cell with a comment or highlight in the workbook. Each cell reference is a hyperlink that will lead you directly to the cell with a comment or highlight. The summary tab will list the value within the cell and the text in the comment. Additionally there is an “Accept” button, which will remove the highlight or delete the comment from the applicable cell. Once you have accepted…
  • Macro: Insert a Check Mark

    AccountingMacros
    15 Mar 2015 | 8:56 am
    This macro is helpful for footing (adding a column of numbers) trial balances, schedules, and reconciliations. It is common practice to put a check mark below the total to show that the column total is accurate. This macros will insert a red check mark in the active cell. Once you add this macro all you will need to do is select the cell you want a check-mark in and run the macro (the macro will be named Checkmark). Assign this macro to a shortcut key to gain the full time-saving benefit (recommended shortcut: ctrl+shift+v). Excel Macro Code: Sub Checkmark() ActiveCell.FormulaR1C1 =…
  • Macro: Mail Workbook

    AccountingMacros
    13 Mar 2015 | 9:07 pm
    Today’s macro is helpful if you send a lot of excel files via email. Running the macro will create a new Microsoft Outlook email with the last saved version of the open workbook. By default the email will not be addressed to anyone, the subject of the new email will be the name of workbook, and the body will be “See attached.” These settings can be customized by editing the macro code below. It might be helpful to change the to: line to the email address of your supervisor or someone you send your spreadsheets to often. Once you add this macro all you will need to do is…
  • Macro: Copying the Sum of Selected Cells

    AccountingMacros
    12 Mar 2015 | 8:39 pm
    I wanted to start off with a fairly simple excel macro first. Although simple, this macro is very helpful when you want to copy the sum of several cells in an excel spreadsheet. The cells can be scattered throughout the spreadsheet or all in the same row/column. Once you add this macro all you will need to do is highlight the cells you want to sum, run the macro (the macro will be named CopyDelectedSumValue), and then paste into the cell you want the sum in. Note: This will just paste the value of the sum, not a sum( ) formula. Excel Macro Code: Sub CopySelectedSumValue() Dim MyDataObj As…
  • Step Four: Assigning a Shortcut Key to a Macro

    AccountingMacros
    10 Mar 2015 | 9:36 pm
    To save even more time you can assign a shortcut key for your macro. Follow the following steps to assign a shortcut key: 1. Click the Developer tab in the excel ribbon (if you do not see the Developer tab see the post on adding the developer tab). 2. Click the Macros icon (second on the left). If you have properly added a macro to your worksheet, you should see a list of your macros in this window. Note: (Alt + F8) is a useful shortcut to bring up the Macros window. 3. Select the macro you would like to run and click Options. 4. Type your preferred shortcut key in the box under…
 
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