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    CPA Letter Daily

  • World Bank: China should forgo rigid economic targets

    30 Oct 2014 | 6:14 am
    China should move away from hard economic targets and emphasize structural reform, according to a World Bank report.  -More- 
  • How to maximize proceeds when selling a small firm

    30 Oct 2014 | 6:14 am
    Small firms often generate higher multiples of revenue than big firms when practices are sold.  -More- 
  • Fed ends bond-buying program, keeps rate close to zero

    30 Oct 2014 | 6:14 am
    The Federal Reserve decided to end its bond-buying program this week, citing economic strength and an improving labor market. -More- Free Webcast: Make Your Tax Practice More Efficient & Profitable If you could save time and boost revenue, why wouldn't you? Add efficiency to your entire tax workflow, save time on every engagement, and smooth your transition with UltraTax CS. See why Journal of Accountancy readers rank UltraTax CS the #1 professional tax-prep package! Learn More & Register
  • New mortality tables increase appeal of annuities

    30 Oct 2014 | 6:14 am
    The new mortality tables published by the Society of Actuaries forecast a major increase in lifespans and are likely to speed -More- Best Stress Relievers for CPA Candidates and Beyond The accounting profession comes with an ever daunting stress-level. What do you do to relieve day-to-day anxiety, whether it be CPA Exam or work related? Discover the best stress relievers that might just ease some tension!
  • Enhancing Audit Quality discussion paper comment period ends Nov. 7

    30 Oct 2014 | 6:14 am
    During the summer, the AICPA launched its Enhancing Audit Quality initiative, a comprehensive, integrated effort to consider  -More- 
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    re: The Auditors

  • New At Forbes Online: The Precarious Financial Position Of The New York Times

    29 Oct 2014 | 10:33 am
    I published some New York Times numbers over at, “Time Is Running Short For The New York Times”, in anticipation of the company’s 3Q earnings announcement on October 30. I plan to write a followup when we know if the company’s own predictions about its third quarter have come true. The Times telegraphed its expected 3Q results to the market on October 1 when it filed a notice with the SEC regarding upcoming staff voluntary buyouts that may convert to involuntary layoffs later. Anything can happen. More important than the third quarter is how the company…
  • Update: The Shoemaker’s Children… The Big Four And Their Own Broker-Dealers

    27 Oct 2014 | 6:24 am
    Did you know that each of the Big Four audit firms and some of the next tier also run SEC-registered broker-dealers? Although they don’t hold customer money, yet, they do count on the capital from their own partners to fund them. Given the poor record the auditors, all of them, have auditing broker-dealers, you’d imagine that the Big Four would take special care to make sure the audits of their own firms followed all the rules all the time and were of the highest quality, beyond reproach. You’d be imagining wrong. Update:  One of my loyal lawyer readers asked the salient…
  • McKenna At Medium: Two New Columns For the Bull Market Collection

    18 Oct 2014 | 4:50 pm
    You may have seen via my LinkedIn page that I’m back at (I posted for three months last year under the “By The Numbers” collection to help kick off the site.) This time I’m part of a group effort, edited by Evan Hanson called “Bull Market”. The team includes former Reuters finance blogger now Fusion editor Felix Salmon, MSNBC commentator Alexis Goldstein, and University of Connecticut law professor and blogger at The Baseline Scenario James Kwak. My first two posts are about taxes—offshore tax avoidance and Amazon’s allergic reaction to…
  • Speaking Engagements/Conferences

    18 Oct 2014 | 4:40 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 to schedule a presentation at your university, conference, firm or for a private briefing. Coming Up: November 20-21, 2014, PCAOB Standing Advisory Group open meeting. Attending as media. Washington DC. December 3-4, 2014, Illinois CPA Society’s 2014 Accounting & Auditing Conference, Wednesday,…
  • 18-Year Old Anthony Canalungo Questions Herbalife, And PwC, On Exchange Rates

    23 Sep 2014 | 4:55 pm
    Anthony Canalungo ( @Canalungo on Twitter) is an 18 year old college student and young investor that has been following the Herbalife story since 2012. He says he’s been a follower of Benjamin Graham since the age of 15 and describes himself predominantly as a value investor. He’s a member of Leaders Investment Club and is a founding member of a non-profit in his community. Anthony recently wrote a really interesting article about Herbalife’s financials in Venezuela that was posted on a blog called Quoth The Raven. In the post, Anthony raises an interesting issue that I have…
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    Deloitte Global headlines

  • Deloitte named a global leader in SAP Implementation Service Providers by Gartner for the second consecutive year

    17 Oct 2014 | 4:11 am
    Deloitte Touche Tohmatsu Limited (DTTL) is pleased to announce that Deloitte has been named a global leader in SAP Implementation Services by Gartner for the second consecutive year in their recently released report entitled Magic Quadrant for SAP Implementation Service Providers, Worldwide, 2014. According to Gartner, SAP implementations services “include configuration, customization and enhancement of existing SAP functionalities; application, report and interface development; and data loading, rollout, integration, testing and training services.”
  • World Tax Advisor

    17 Oct 2014 | 4:10 am
    World Tax Advisor is a bulletin of international tax developments written by professionals of the member firms of Deloitte. The newsletter focuses on analyses of cross-border tax developments that reflect the dynamic business environment faced by multinationals. The last issue of each month includes an update of recent tax treaty developments.
  • Transfer pricing alerts

    17 Oct 2014 | 4:10 am
    Updates on transfer pricing developments around the world.
  • Appetite for M&A activity in global life sciences and health care sector set to increase in the next three years, according to Deloitte survey

    17 Oct 2014 | 4:08 am
    M&A remains squarely on the agenda of global life sciences and health care companies, with 70 percent of companies (with yearly revenues of more than $10bn) stating they plan to undertake M&A activity in the next three years. This is according to a new report released today by The Economist Intelligence Unit (EIU) in collaboration with Deloitte Touche Tohmatsu Limited (DTTL) that found life sciences and health care companies are looking beyond familiar territory for progressive growth.
  • Deloitte launches Global Center for Crisis Management

    17 Oct 2014 | 4:07 am
    Deloitte Touche Tohmatsu Limited (Deloitte Global) today announced the launch of the Deloitte Center for Crisis Management. The Center provides clients with Deloitte’s breadth and depth of solutions in an integrated crisis management service through its global member firm network (Deloitte).
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    Accounting News and Notes

  • Water@Work Saving Lives Physically & Eternally in the Name of Christ

    John Dillard
    29 Oct 2014 | 9:58 am
    We have just held our FIRST annual Clean-to-Living Water Golf Challenge last week, and it was a great success! It was a beautiful day for golf and fellowship. But, more importantly, the Golf Challenge has raised over $33,000 towards the cause of clean water. The donations from this Golf Challenge provide enough funds to purchase purification equipment for two communities in the Domnican Republic. We could still raise enough to impact a third community with your help. If you haven’t yet had the opportunity to make a donation to this Golf Challenge Fundraising Drive, you still have until…
  • Are You Living in Guilt or is Guilt Guiding You Back to Christ?

    John Dillard
    29 Oct 2014 | 6:44 am
    Are You Living in Guilt or is Guilt Guiding You Back to Christ? We All Sin and Fall Short. But the Question I believe that is before us Each and Every Day… Is Not IF you are going to Fall… But What Are You Going to Do with It? Are You Going to Get up AND Learn? Or Are You Going to Get Mad and Get Bitter? For If we are Ready to Deal with the Hardest Person in the World to Deal With…. OURSELVES!!! We are now truly Ready to GROW in Christ! I strive every day to walk the path that I believe the Lord has chosen for me to walk. When I feel that I am walking it straight and true, I look…
  • Forensic Accounting Techniques and Procedures

    John Dillard
    27 Oct 2014 | 1:55 pm
    Forensic Accounting Techniques and Procedures If you are worried if your business might have been the victim of a theft or a forgery the best place to start at is in the beginning and in looking at: Top 4 Areas of Employee Theft -Check Forgery -Fictitious Contracts -Contracts that are Off the Books -Diversion of Accounts Receivable The below is a sample inquiry I might send to a client looking to consider if any of the corporate assets are “Missing in Action.” It has been my experience over the years that having a Forensic accountant if the losses are not going to be able to be recouped…
  • Accounts Payable Duties and Responsibilities

    John Dillard
    27 Oct 2014 | 11:05 am
    One of the Keys to Small Business Solutions/Business Success is Having Well Defined Expectations and Tracking/Verification Systems and a Thorough Well-Thought Accounting System of Internal Controls and Segregation of Duties are Critical to Business Sustainability and Growth. The below is a good working understanding of what you can utilize for Accounts Payable Personnel. Be sure to work closely with your business CPA to ensure systems are closely considered, documented, monitored and maintained. Accounts Payable Duties and Responsibilities -Receive & Open vendors/suppliers billings etc.
  • Get YOUR Business Started RIGHT: Following the Road to SUCCESS

    John Dillard
    27 Oct 2014 | 8:35 am
    Get YOUR Business Started RIGHT We have taken care of HUNDREDS of business owners and can do MUCH as a Virtual CFO to ensure you maximize your profits while keeping your tax bill as low as legally possible. Call us today and see what we can do for you!!! I look forward to our meeting. a #VirtualCFO & #CPAFirm
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  • Sounds like a plan!

    Brenda Mizgorski
    24 Oct 2014 | 10:14 am
    Sounds like a plan!CPA Exam Journey
  • Here are the links to CPA Exam Club's private Facebook Study Groups

    Brenda Mizgorski
    14 Oct 2014 | 9:59 pm
    Here are the links to CPA Exam Club's private Facebook Study Groups, please share to spread the word! FAR: AUD: REG: BEC: Related articles What is the Difference Between CPA, CFA, and CFP? Roger CPA Review Announcement Life as a CPA (14): Now what? Is CPA a Career Option? Yaeger CPA Review Provides Discounts to CPA Exam Club Members The CPA Exam Hack: Simple Tweaks to Conquer the Exam
  • Michael Duffy of Wiley CPAexcel goes over the CPA Exam process and preparation strategies (1:02:46)

    Brenda Mizgorski
    11 Oct 2014 | 3:38 am
    From Meet the Firms Fall 2014 Thinking about sitting for the CPA Exam but looking for information on how to make sure you pass the exam? Let CPAexcel show you the way in this informative overview of the CPA exam. Presented by Michael Duffy of CPAexcel, this live session is designed to answer your questions about becoming a CPA.
  • Buying Pirated Becker CPA Review Products is No Bueno

    Brenda Mizgorski
    3 Aug 2014 | 4:37 pm
    Post by CPA Exam Club. Here are the Links to CPA Exam Club's Private Facebook Study Groups Test your knowledge of corporate taxation with Phil Yaeger - REG Study Group at CPA Exam Club The CPA Exam Hack: Simple Tweaks to Conquer the Exam Yaeger CPA Review Provides Discounts to CPA Exam Club Members
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    A Counting School - Hardcore Chartered Accountancy

  • Metrolinx: read their audit report and weep

    15 Oct 2014 | 6:43 pm
    Ontario's auditor general reviewed the provincial transit agency, Metrolinx, and their audit report's been around for a while. Here's a link to the PDF. It's a depressing read. I've heard many of the facts from the report in the media, which is no surprise given the report came out almost two years ago, Two of the most glaring red flags surround the airport express train, The UP Express (I guess PU Express doesn't sound much better), and the Presto fare card - not to be confused with a streaming movie service. For Presto, the people of Ontario have spent over $700…
  • I'm back to where I started

    9 Oct 2014 | 2:54 pm
    Longtime readers know this place came about because I returned home from audit orientation and explained that I was at "Accounting School," which is the easiest way to translate Big Four onboarding training sessions to a five-year old. In response, she said, "you were at a counting school?" And this site came into existence. I'm attending a special course devoted to internal audits right now. It's been a good day where we discussed synonyms for "audit finding". Like observation. Issues. Train wrecks. Failures. Chernobyls. The Ford brothers.
  • Big Four Summer Fashion Dress Code

    22 Jul 2014 | 7:20 pm
    If you're going to talk about how to dress in an accounting firm's office, you'll end up talking about how all accountants dress, whether they work in tax, audit, or in an actual "business" that does things other than deliver audits and other "value added services."I'm going to share one tip for guys: always tuck in your shirt.Is it summer and you feel like letting it hang loose? Don't.If you're working in North American cities, the loose carefree untucked polo shirt unfortunately doesn't work.For much more extensive snark, particularly in the…
  • Can I invest in my child's training as a tax deduction and then get a nice refund when she becomes a successful pro?

    7 Jul 2014 | 7:15 pm
    That's an easy question.The answer is no. Eugenie Bouchard's father thought he could create a partnership where the money he spent on training his daughter could be used to generate a tax loss. Unfortunately tax law in Canada doesn't allow you to enter into a contract with your 9-year-old daughter. To quote the article,"The investors in the partnership had intended to make their contributions in exchange for 10 per cent of Ms. Bouchard’s future tennis earnings, up to the amount they contributed, plus a 10-per-cent rate of return per year. But as the court ruling noted, Ms.
  • Intelligent and foolish ways of looking at renting vs buying a property

    6 Jul 2014 | 4:39 pm
    It's delightfully shocking to see the gap between people who are putting forth an intelligent and well-written argument, and those who would fail on any exam. The intelligent example is on the Toronto Realty Blog regarding buying or renting a property.In some situations - especially a short-term contract in a city you're merely visiting - it's a good idea to rent a home, since the transaction costs from buying and selling property will likely eat up any gain you might be lucky enough to enjoy if prices are shooting up.On the longer horizon, there are many factors to consider - and…
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    NJSCPA Exam Cram Blog

  • Keeping the Path

    Mark Eckerle
    30 Oct 2014 | 5:56 am
    Good morning to all! As each day goes on I feel less and less confident about my REG results due out next week. I have a bad feeling I wil have to retake it in 1Q 2015. I just need...
  • Still Waiting...

    Michael Palantone
    23 Oct 2014 | 8:27 am
    Hey all, It's been a while since I last posted, and it really has felt like forever since I took BEC. I'm still waiting on getting my score back to hopefully be fully done, but since my test date I...
  • Reg Exam & 3rd Attempt at AUD

    Mark Eckerle
    22 Oct 2014 | 2:05 pm
    It has been some time since my last post. I took REG just about two weeks ago. No matter how well you study I personally think it is impossible to come out of the exam feeling confident or excited. There...
  • Settling In

    Danielle Miller
    20 Oct 2014 | 6:43 pm
    Hello! My world has been crazy busy these past few weeks and I am finally starting to get in the groove of things. To catch you all up, I took my REG exam at the beginning of the month. Again,...
  • AUD Exam Up Next

    Joseph Zapf
    15 Oct 2014 | 9:06 am
    Hey Everyone, I know it has been a while since I last caught up with you all, but so far I am still studying hard for my Auditing Exam. I’ve been studying since early October, and I am being much...
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  • What is the coefficient of correlation?
    21 Oct 2014 | 5:50 am
    In simple linear regression analysis, the coefficient of correlation (or correlation coefficient) is a statistic which indicates the relationship between the independent variable and the dependent variable. The coefficient of correlation is represented by r and it has a range of -1.00 to +1.00. When the coefficient of correlation is a positive amount, such as +0.80, it means an increase in the independent variable will result in an increase in the dependent variable. (Also, a decrease in the independent variable will mean a decrease in the dependent variable.) When the coefficient of…
  • What is simple linear regression analysis?
    16 Oct 2014 | 9:01 am
    Simple linear regression analysis is a statistical tool for quantifying the relationship between just one independent variable (hence “simple”) and one dependent variable based on past experience (observations). For example, simple linear regression analysis can be used to express how a company’s electricity cost (the dependent variable) changes as the company’s production machine hours (the independent variable) change. Fortunately there is software to compute the best fitting straight line (hence “linear”) that expresses the past relationship between the…
  • What is a sunk cost?
    15 Oct 2014 | 9:36 am
    A sunk cost is a cost that was incurred in the past and cannot be undone. Since most transactions cannot be undone, most amounts spent in the past can be described as sunk. In other words, a past or sunk cost will be there regardless of what you decide to do today or in the future. To illustrate a sunk cost, let’s assume that a company spent $100,000 last year to purchase and install a machine. Today, a better machine is available for $80,000 and it will reduce expenses by $50,000 in each of the next 10 years. Now the old machine can be sold for just $10,000. When deciding whether to…
  • What is an asset’s useful life?
    14 Oct 2014 | 7:06 am
    An asset’s useful life is the period of time (or total amount of activity) for which the asset will be economically feasible for use in a business. In other words, it is the period of time that the business asset will be in service and used to earn revenues. Because of the advances in technology, an asset’s useful life is often less than its physical life. For example, a computer may be useful for only three years even though it could physically be operated for decades. The useful life (as well as the salvage value at the end of the useful life) are estimated amounts needed in the…
  • What is accelerated depreciation?
    13 Oct 2014 | 6:47 am
    Accelerated depreciation is the allocation of a plant asset‘s cost in a faster manner than the straight line depreciation. Compared to straight line depreciation, accelerated depreciation will mean 1) more depreciation in the earlier years of an asset’s life and 2) less depreciation in the later years of the asset’s life. [Note that the total amount of depreciation over the asset's life will be the same regardless of the depreciation method used.] Hence, the difference between accelerated depreciation and straight line depreciation is the timing of the depreciation. Three…
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    CPA Success

  • Report: Few are ready to take advantage of profession’s top 5 trends

    28 Oct 2014 | 5:54 am
    Do you ever get that feeling about the future? You know the one — like you’re going to get steamrolled by it? You’re not alone. Not by a long shot. That much is clear in reading the new Wolters Kluwer CCH white paper, “Charting a Course for the Future: A Report on Firm Preparedness.” Released at the 2014 CCH User Conference in Orlando, the paper finds that only 18 percent of firms consider themselves “very prepared” to take advantage of the biggest trends that will impact on the profession in the near future. According to CCH, those trends are:…
  • Revenue recognition: Get to know it … now

    23 Oct 2014 | 4:00 am
    Here’s everything you need to know about the profession’s new revenue recognition standard: It’s big. Huge, in fact. It impacts everyone. Including you. Forget the implementation date. Start preparing now. OK, it’s a little more complex than that, but that’s the CliffsNotes version, courtesy of the AICPA. The standard, which was released in May by the Financial Accounting Standards Board and the International Accounting Standards Board, centers on the recognition of revenue from contracts with customers and “is designed to create greater comparability for…
  • Your network equals your net worth: The power and importance of mentors

    21 Oct 2014 | 4:00 am
    You wanna know what’s on the minds of young professionals these days? Ask them. They’ll tell you. We have, time and time again. Every time Tom Hood steps in front of a crowd of CPAs, he asks them what’s on their minds. Here’s what they’re saying: Some of the biggest issues they’re dealing with these days involve personal development, growth, keeping up with change, and building valuable networks. Their solutions to those problems center on connections, communication, and collaboration. See the trend? Success today is all about people. It’s all about…
  • Peer review is under fire. 'Don't let it collapse'

    16 Oct 2014 | 9:05 am
    One of the pillars of the CPA profession is closing in on its 40th anniversary, and like many of us who pass the big 4-0, it’s going through a bit of a mid-life crisis. I’m talking about peer review. Its importance in ensuring audit quality has never been greater. Neither has the scrutiny it faces, and changes are on the horizon. “(T)he status quo is untenable,” Allison Henry writes for the Pennsylvania Institute of CPAs. “A variety of changes are being explored that could dramatically transform the current peer review program to a more rigorous practice…
  • We are all in sales now. Here is some help.

    9 Sep 2014 | 9:00 pm
    The U.S. Bureau of Labor Statistics estimates that one out of nine people are in official "sales" jobs, but something is happening with the other eight of us in today's workforce. We are all in non-sales sales jobs, according to Dan Pink.  That's right — non-sales sales jobs. In fact, the research says the other eight of us spend an average of 41 percent of our time "convincing people to give up something [in exchange] for something you have to offer.” That is an average of more than two days per week persuading, influencing, convincing others to "buy" our ideas,…
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    TSCPA Governmental Affairs

  • Low Key vs. Hot Button Comptroller's Race

    Bob Owen
    29 Oct 2014 | 2:48 pm
    You read poll after poll predicting the expected Republican sweep of the top three statewide races for Governor, Lt. Governor and Attorney General.  Most of the polls, it they bother to ask about the State Comptroller's race, don't bother to report the results.  The contrast in campaign strategy is striking. Sen. Glenn Hegar, the favored Republican candidate, evidently hasn't run any ads since the primary, despite having a substantial war chest.  That probably means his campaign polling shows him winning just like the other state wide Republican…
  • Comptroller Candidates To Have Limited Debate

    Bob Owen
    8 Oct 2014 | 2:35 pm
    Sen. Glenn Hegar and CPA and TSCPA member Mike Collier will square off in what may be the only debate between the two candidates at 7:00 PM on Oct. 29, 2014 in Austin.  That's ten days after early voting begins.  Outside of the Austin area Texans will only be able to view the debate on Time Warner Cable or watch it online.  It's scheduled to last thirty minutes.  See the details in this Dallas Morning News Trailblazer blog, including the online link to view the debate.
  • Road funding on the Nov. 4th ballott

    Bob Owen
    15 Sep 2014 | 8:55 am
    Everyone, at least everyne who reads this bolg, knows that Texans will go to the polls on Nov. 4th to elect all our statewide officials and most of our state legislators; but much of the public is probably unaware that road funding is on the same ballot. During the last session legislators voted to submit a constitutional amendment to the voters to forever use a portion of the Rainy Day Fund to retire road debt and build more roads.  The Fort Worth Star-Telegram has a good article and explanation of what's being proposed and the consequences if the amendment fails to pass. …
  • Senator Charles Perry comments on his election and what's to come

    Bob Owen
    12 Sep 2014 | 8:38 am
    CPA and TSCPA member and now Senator Charles Perry, who won the Senate District 28 special election handily, comments on his hopes and plans for service in the Senate.  He talks about some of the important relevant issues and his hopes for Senate committee assignements.  Read it all in the Amarillo Globe News.
  • A quote reflective of our times

    Bob Owen
    12 Sep 2014 | 8:29 am
    As published in Texas Weekly: "If a Republican says it, a Democrat has to disagree. And if a Democrat says it, a Republican has to disagree. And we’re in really sorry shape. Politicians are not serving you well." Land Commissioner Jerry Patterson on the impasse on immigration and other hot button political issues.  
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    CPA Trendlines

  • 8 Times When Hourly Billing Trumps Value Pricing

    Beth Bellor
    28 Oct 2014 | 2:00 am
    And when it doesn’t. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I am trying to switching to value pricing and am having trouble getting completely away from time-based billing in certain situations. RESPONSE: Value pricing is a great method and concept. I suggest reading, and thoroughly understanding Ron Baker’s “Implementing Value Pricing: A […]
  • 6 Reasons CPA Firms Fail at Succession Planning

    Beth Bellor
    27 Oct 2014 | 2:00 am
    Plus: Making the math work. By Marc Rosenberg Retirements & Buyouts Why are CPA firms deficient at succession planning? It is abundantly clear that CPA firms have succession planning challenges. Partners overwhelmingly prefer the exit strategy of passing on the firm to younger partners vs. merging out of existence. But history shows that the vast majority […]
  • Is Your Chart of Accounts Stuck in the 1970s?

    Vickie Pittard
    24 Oct 2014 | 9:43 pm
    Help your clients account for marketing costs. By Sandi Smith Leyva The Accountant’s Accelerator One of the value-added services we can offer clients is to align their chart of accounts with their tax form so that the numbers are easy to pull off at tax time. But there’s an even bigger opportunity if we take […]
  • New CPE: Mendlowitz on Maximizing Your Value

    24 Oct 2014 | 8:47 am
    For 4 hours of CPE credit, Thurs., Oct 30, go to
  • 6 Factors in Valuing Total Goodwill of a CPA Firm

    Beth Bellor
    23 Oct 2014 | 2:00 am
    Valuing a CPA firm for partner retirement purposes is much different than a valuation for merger purposes. By Marc Rosenberg Retirements & Buyouts Profitable, attractive firms, generally under $2 million, sold in a market with many potential buyers, will often fetch 110 percent to 150 percent of fees. If this is the case, why do […]
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  • 30 Oct 2014 | 1:30 pm

    30 Oct 2014 | 1:30 pm
    By Andrew Sobel, Big4 Guest Blogger An extraordinary shift has occurred in the music business, and it holds an important lesson for us. Over the last decade, sales of recorded music have steadily declined. This includes all types of music in all formats—CDs, digital downloads, and so on. At the same time, concert ticket revenue for live pop concerts has steadily risen. These trends are displayed below, in the graph. Buying a digital recording of some old Rolling Stones songs you’ve alre...Keep on reading:
  • Former Big4 Auditor stresses attitude and expertise

    29 Oct 2014 | 10:17 pm
     By Rob Starr, Content Manager The middle of 2007 was when all of Joe Auer’s hard work started to come together. Just before that, he’d interned with KPMG for 10 weeks in the Charlotte office and then went to work there full-time since the experience had been both beneficial and pleasant. He got a solid career foundation by polishing up his technical expertise, learning and practicing the value of networking and the importance of having a positive attitude for business success. ...Keep on reading: Former Big4 Auditor stresses attitude and expertise
  • COSO Engages PwC to update Enterprise Risk Management Integrated Framework

    27 Oct 2014 | 3:39 pm
    By Rob Starr, Content Manager ...Keep on reading: COSO Engages PwC to update Enterprise Risk Management Integrated Framework
  • Here’s a few keys to Big4 success from a former managing director at Korn Ferry International

    27 Oct 2014 | 4:17 am
    By Rob Starr, Content Manager Jamie Peretz is currently the founder of 2MyCareer, but her credentials to shell out advice on career development in the Big4 go back to her stops at global leader in executive recruitment and talent consulting, Korn Ferry International, and executive positions in investment banking at Credit Suisse and JP Morgan. She’s also been an attorney with Pillsbury Winthrop, so her advice is well rounded and comes from a variety of important angles. We spoke w...Keep on reading: Here’s a few keys to Big4 success from a former managing director at Korn Ferry…
  • Venture capitalists lead overall swing back to economic health with $9.9 billion in 1,023 deals in the third quarter of 2014

    24 Oct 2014 | 10:23 am
    By Rob Starr, Content Manager “At first glance you notice that we’re down from Q2,” Mark McCaffrey, global software leader and technology partner at PwC said by way of starting our conversation on the latest installment of The MoneyTree™ Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters, “but the reality is Q2 was so high, there’s not a comparable number.” He mentions the kind of deals that skewered the r...Keep on reading: Venture capitalists lead overall swing back to economic health with $9.9 billion in…
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    Success Starts Here

  • Meet McGladrey's Working Father of the Year

    13 Oct 2014 | 1:45 pm
    If you need moving boxes or advice on building a career in assurance, Joe Lee’s your guy. The trick will be finding an open slot on the calendar of McGladrey’s first-ever Working Father of the Year.  Joe started as an assurance associate with McGladrey in 2005 shortly after graduating from Illinois State University. He and wife, Kristen, married the same year and their family grew nearly as quickly as his career. The couple’s first set of twins arrived in 2009, another pair came along three years later and they welcomed a fifth child this summer. Now an assurance senior…
  • McGladrey Named to 2014 Working Mother 100 Best Companies List

    17 Sep 2014 | 8:09 am
    McGladrey is excited to announce that we were recently named by Working Mother magazine as one of the publication’s 2014 Working Mother 100 Best Companies. Working Mother recognized companies for outstanding leadership in establishing policies, programs and corporate culture that supports working moms, including child care, flexible work arrangements, paid parental leave and advancement of women. Companies are also measured on access to and use of family-friendly programs. “We are honored to receive this recognition for the eighth year,” said Richard Caturano, McGladrey’s…
  • ALPFA Exposed

    16 Sep 2014 | 2:07 pm
    by Nelly Montoya, Assurance Senior Associate, San Franciscoand Michael Gerlach, Assurance Director, ChicagoThe 2014 installment of the Annual ALPFA Convention was held August 2-6 in Lake Buena Vista, FL. Under the direction of Rich Caturano, McGladrey leadership chose approximately 25 professionals to represent the firm at the convention to learn more about the importance of diversity and inclusion, increase the familiarity of McGladrey in the professional and educational environments, and get to know the professionals and students attending. We were two of the lucky attendees that…
  • McGladrey Presence at the National Association of Black Accountants (NABA)

    10 Sep 2014 | 6:41 am
    McGladrey helped NABA celebrate bright young stars and future personalities of the profession during it’s annual Conference. Rich Caturano, McGladrey partner and leader of the National Culture Diversity and Inclusion initiative spoke at the NABA Leadership Breakfast. Rich gave compelling remarks on what leadership means using real world examples which delighted the accomplished and emerging leaders in attendance. McGladrey principal, Tyrone Beasley led a the Opening Forum Discussion to an audience of hundreds of attendees on Discovering and Nurturing Top Talent. And McGladrey employees of…
  • McGladrey kicks off Birdies Fore Love

    26 Aug 2014 | 10:52 am
    By Teresa Carlin National Leader of McGladrey’s Birdies Fore Love programTeresa CarlinI have played golf since I was 5 years old and have been around the game my whole life. Most of my family vacations have centered around either playing or watching golf, from the junior and collegiate levels to the pros. One of the things that I have always witnessed as a theme of the sport is philanthropy. The McGladrey Classic was one of my very first and strong attractions to McGladrey as a company. Not only does the tournament provide a terrific platform for playing and watching a game I love, but…
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    The Student CPA

  • Vanquishing the CPA Exam Without Breaking the Bank

    6 Oct 2014 | 4:00 am
    I am a frugal person by nature, so when I set out to pursue the CPA designation back in the Fall of 2011, I intended to devise an exam preparation strategy that would allow me to pass each section of the CPA Exam on the first attempt and do so at the lowest cost possible. […]
  • Audit Practice-Less Arthur Andersen Is Back from Damnation

    2 Sep 2014 | 8:56 pm
    Vorsatz says the firm will go by Andersen Tax from now on, and it will draw lessons from both the rise and the fall of the old Andersen. He’s hoping to restore the old firm’s reputation for ethics and integrity. And, he says, his firm’s focus will continue to be narrower than the old Andersen’s […]
  • CPA Exam Review Spotlight (FAR): Accruals and Deferrals

    31 Aug 2014 | 1:00 pm
    When it comes to accounting, timing is everything. Accruals and deferrals are two of the practices through which both the revenue recognition and the matching principles are applied.  Those principles of accounting are two of the pillars on which accrual accounting (i.e., U.S GAAP) stands. So let us examine further what accruals and deferrals are […]
  • CPA Exam Review Spotlight (FAR): Installment Sales Method

    26 Aug 2014 | 6:30 pm
    Based on some of the accounting literature I reviewed in preparation of this spotlight on the installment sales method, one of the most challenging issues accountants deal with is the proper recognition of revenue related to the operations of a business concern. While a good number of general rules and guidelines have been developed to […]
  • CPA Exam Review Focal Point (FAR): Converting from Cash to Accrual Accounting

    22 Aug 2014 | 4:00 am
    “Converting from Cash Basis to Accrual Basis Accounting” is the first installment in a long series of blog posts geared toward deconstructing the most likely topics you may be tested on when you take the Financial Accounting and Reporting (FAR) section of the Uniform CPA Exam. Candidates are likely to get questions about this topic […]
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    One Accounting

  • Understanding the Construction Industry Scheme (CIS) tax

    Chris Thomas
    22 Oct 2014 | 5:53 am
    If you are a contractor in the construction industry it is essential that you deduct the right amount of Construction Industry Scheme (CIS) tax from payments you make to subcontractors. A common misunderstanding about the CIS is that deductions of CIS tax only have to be made from labour costs. This is not the case, but it may work out like that in practice. HMRC’s instructions are clear, the contractor must deduct the following cost items as listed on the subcontractor’s invoice before applying the appropriate rate of CIS tax (20% or 30%) to the net amount: VAT charged; CITB levy…
  • Creating Extra Cash-flow

    Chris Thomas
    16 Oct 2014 | 6:56 am
    Could your creative company benefit from a boost to its cash flow? If it produces computer games, films, high-end TV or animation programmes, it may qualify for a new payable tax credit. All of these products can qualify for extra tax relief if they can be certified as culturally British, and at least a quarter of the core production costs are incurred in the UK. There are some other conditions: only businesses trading as companies can qualify for the tax relief, not individuals or partnerships; and the product must be intended for release to, or to be broadcast to, the general public, not…
  • VAT on International Services

    Chris Thomas
    10 Oct 2014 | 1:56 am
    When you sell services to businesses in other countries, the sale will generally be outside the scope of UK VAT. You don’t charge VAT on your invoice, but you need to report the value of that sale as part of the total in box 6 on your VAT return. There are exceptions to this general rule for services connected to land, live performances, catering or passenger transport. If the sale is to a VAT registered business in another EU country the sale must also be reported on your EC Sales list. If your customer is not a business, or is not VAT registered, the sale should not be included on the…
  • Scottish Taxes

    Chris Thomas
    1 Oct 2014 | 5:53 am
    The Scottish people have spoken and the majority have decided they want Scotland to remain part of the UK. However, that doesn’t mean everything will remain the same. We already know there will be two new taxes in Scotland from 1 April 2015, and a variation to income tax rates for Scottish taxpayers from 6 April 2016. If you are planning to buy land or buildings in Scotland, you should be aware that the tax you will pay on top of the purchase price is currently uncertain for completion dates on or after 1 April 2015. This is because Stamp Duty Land Tax (SDLT) will be replaced by Land…
  • After the Vote – What it means for Small Businesses

    Chris Thomas
    17 Sep 2014 | 8:03 am
    Special Referendum Webinar Monday 22nd of September 2014, 10.30 am -11 am    The Referendum debate is gripping the whole of the UK as we edge ever closer to the vote on Thursday 18th September. Will a ‘Yes’ vote see Scotland leaving the UK for good, or will a ‘No’ vote retain our country in the Union with the prospect of more powers devolved from Westminster? We are running a special post-vote Webinar on Monday 22nd September at 10.30am. Put simply, we will be explaining what the result will mean for business owners across Scotland and the rest of the UK. The content will of…
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  • How to Create Focus On-Demand When You Need It Most

    Jonathan Milligan
    27 Oct 2014 | 6:45 am
    Distractions. Delays. Interruptions. Clutter. Confusion. Overwhelm. And it’s not even 10:00 in the morning. If that describes your typical workday, let’s change that. Right out of college, I entered the teaching profession. I was a high school teacher and basketball coach. If you’ve ever been a teacher, then you know the daily struggle of “always being on.” While most speakers have the opportunity to spend hours preparing for a thirty minute talk, teachers have thirty minutes of prep for eight hours of talk time. When I was teaching, I had one prep hour toward…
  • How to Create a Life You Don’t Need to Escape From

    Jonathan Milligan
    29 Sep 2014 | 8:00 am
    Why are we so busy? “I’m so busy, I met myself coming back!” One of my high school English teachers used to always use that phrase in class. Have you ever taken the time to analyze why you feel so busy? Is it a good busy or a bad busy? And why do we feel the need to escape from our busy schedules? After coming back from a weekend church retreat, my wife and I sat down to analyze our busy lives. Later, I’ll walk you through the steps we took to get to some clarity. Bonus Content: Want to be less busy? I’ve created a special 5-page worksheet for you called: Escape…
  • The One Word That Catapulted the Direction of My Business

    Jonathan Milligan
    22 Sep 2014 | 6:15 am
    At the end of 2012, I knew some things were going to have to change in my business. What got me to where I was, wasn’t going to get me to the next level. Fear led to doubt, doubt led to confusion, and confusion led to inaction. Have you been there? BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. Even though I had built a bridge from my day job to my dream job, I felt a bit uncertain on how to get to the next level. Since it was the end of the…
  • 3 Powerful Reasons You Need to Be in a Mastermind Group

    Jonathan Milligan
    15 Sep 2014 | 11:15 am
    In 2010, on this very blog I created an 16-week online course for job seekers. It was my first real attempt at creating passive income beyond Google Adsense. While I had surveyed my audience to understand their needs, I still had many self-limiting doubts on how I was going to pull this off. BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. Some of the thoughts I had were: You don’t have enough readers and subscribers to do this You lack the…
  • How to Capitalize on Your Next Aha Moment

    Jonathan Milligan
    8 Sep 2014 | 9:30 am
    It often comes out of nowhere. It will surprise you. It’s one of those moments that require a smack to the forehead. It should have been obvious, yet it wasn’t. It shouldn’t be this simple, yet it is. BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. It’s an aha moment. We call it a “Mastermind Moment.” These special moments come from community. The more you hangout with other passionate people, the more you’ll…
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    Invoice Factoring Companies | Factoring Invoice | Accounts Receivable Factoring for

  • Invoice Factoring Can Offer Your Business No-Hassle Funding

    Heather Burford
    29 Oct 2014 | 10:56 am
    Fast access to cash is crucial for every business to succeed. Unfortunately, businesses that rely on loans to satisfy their funding needs may find themselves losing both revenue and customers as they navigate the often complex process. As an alternative, … Continue reading →
  • How to Solve Cash Flow Problems

    Heather Burford
    27 Oct 2014 | 11:07 am
    Cash flow problems plague all companies, no matter what the size or industry they are in. Receivable factoring companies, or factors as they are known in the business world, are finance companies that offer to purchase the open accounts receivable … Continue reading →
  • How The Best Factoring Companies Determine Rates

    Heather Burford
    22 Oct 2014 | 10:36 am
    When factoring invoices, most accounts receivable factoring companies will assign a value to the invoices they are looking to purchase. The difference between good factoring companies and the best factoring companies is they offer one low rate for all of … Continue reading →
  • Invoice Factoring Basics

    Heather Burford
    20 Oct 2014 | 11:32 am
    Factoring is a term used to refer to a financial transaction used by companies throughout the world to liquidate invoices for products or services sold to customers on credit. They sell these invoices to a third party known as a … Continue reading →
  • Accounts Receivable Finance – Alternative Ways to Fund a Business

    Heather Burford
    17 Oct 2014 | 10:20 am
    For those looking for an alternative way to fund business operations or expand your business, accounts receivable finance provides a way for companies to turn their open invoices into immediate cash. The process is fast and easy and doesn’t require … Continue reading →
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    Intuit News Central

  • AICPA Introduces Two Tools to Help CPA Firms Improve Diversity and Inclusion

    Bryan Cytron
    30 Oct 2014 | 6:00 am
    The workforce and the workplace are two areas where CPA firms face continual challenges and changes. To meet those head on and also create a sense of balance and improvement, AICPA has launched the Accounting Inclusion Maturity Model and the Recruitment and Retention Toolkit, both intended to boost diversity and inclusion efforts in CPA firms. The Accounting Inclusion Maturity Model fits any size organization, and was developed through eons of research and collaboration from the accounting profession’s leaders on diversity and inclusion, with the best practices prevailing. Those were…
  • QB PowerHour Oct. 16: Efficient Data Entry

    Scott Cytron
    28 Oct 2014 | 5:39 am
    The next QB PowerHour presented by QuickBooks ProAdvisors’ Hector Garcia and Michelle Long, was held Thursday, Oct. 16. Whether you attended and want to see the webinar again – or couldn’t attend due to a conflict – here’s a video you can watch. Click on the box below or here to start the video, and be sure to register for QB PowerHour. Sessions will be held every other week. Share and Enjoy:
  • Do (Did) You Know the Way to San Jose? We Did!

    Jan Haugo
    28 Oct 2014 | 4:50 am
    Route 66 is infamous for yonder years of road trips. Many families have chartered their family wagons, singing, screaming and bonding along the routes. Life in a car now becomes an adventure for the participants, and the regular rules of life no longer apply, as the fun begins. Last week, seven brave social souls chose, via Twitter, to partake in the same experience by meeting in Palm Springs, CA, to embark on a momentous journey to the inaugural event, QuickBooks Connect (#QBConnect). Embarking on a journey of social venture, we aimed to #Tweet, @Facebook and @Instagram our way down the…
  • QB PowerHour Oct. 30: Bank Feeds and Bank Rules

    Scott Cytron
    27 Oct 2014 | 4:15 pm
    Make plans to join QuickBooks ProAdvisors Hector Garcia and Michelle Long for the next QB PowerHour, Thursday, Oct. 30 at 12 pm ET. The focus for this week’s webinar is on bank feeds and bank rules. Segments include the following: Introduction and some reflections on the recent QuickBooks Connect Event Michelle’s Segment: In-Depth Look at Bank feeds in QuickBooks Online. Tips & Tricks to get the most our of Bank Feeds in QBO. Working with the new UPDATED Bank Rules Hector’s Segment: In-Depth Look at Bank Feeds in QuickBooks Desktop 2014 and 2015. Creating and Editing complex…
  • Calling all Enrolled Agents: Meet Intuit® Personal Pro

    Stephanie Morris
    27 Oct 2014 | 2:42 pm
    As tax professionals, so much of what you do hinges on the connections you’re able to establish with your clients. And with the advent of digital tools and technologies, it’s becoming more and more convenient to connect and develop meaningful, productive relationships with taxpayers across the country. In 2012, we released CPA Select to help consumers select and engage with certified tax professionals. Since its rollout, we’ve seen a steady rise in taxpayer demand for professional tax services, generating an average of 43 new clients for the top 20 percent of CPA Select pros in tax year…
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    AICPA Insights

  • Protecting Yourself Online

    Guest Blogger
    31 Oct 2014 | 4:00 am
    What were you doing at 7:32 p.m. on April 23, 2011? Chances are that Google, Facebook, Microsoft, Apple, your phone company and your Internet Service Provider know. If you share a computer, all of the other users may know. Your employer may know. As will the government, if it so chooses. And if this isn’t enough, they may even know where you were when you were doing it. Is this a problem? Well, that depends. Do you like getting bombarded with online ads and email obviously based on your recent surfing habits? Are you researching that perfect gift for your wife or husband, or planning a big…
  • 3 Social Security Planning Opportunities for Survivors

    Theodore J. Sarenski, CPA/PFS
    29 Oct 2014 | 4:00 am
    Social Security survivors’ benefits are similar to Social Security retirement benefits, but there are certain planning opportunities available to the widowed spouse. As the family’s trusted advisor, make sure you understand these opportunities in order to give your clients the most beneficial advice possible. Here are three planning opportunities for survivors: 1. Planning for Spousal Income Needs. Depending on the age of the parents and children, there is a gap in the survivors Social Security benefits. From a financial planning aspect, it is imperative that you discuss the impact…
  • Creating a Bright Line between Accounting and Reporting

    Guest Blogger
    28 Oct 2014 | 4:00 am
    (Photo credit: Wikipedia) Let’s go back in time to December of 1978. You are longing for the weekend and thinking about going to see the new movie “Grease”that everyone is talking about. You need to get away from the three channels on your television set, as all that you see is the news about anti-Shah protestors in Iran and the craziness of someone giving a baseball player $32 million in a four-year contract.  Maybe President Carter can do something to get us back on track. Well, at least you have your brand new Betamax and can record whatever television you miss – as long as it…
  • Peer Review Focus on Maintaining Independence

    Guest Blogger
    23 Oct 2014 | 4:00 am
    As part of its on-going commitment to helping members maintain and enhance audit quality and to improve the consistency of quality across the profession, the AICPA recently launched the Enhancing Audit Quality Initiative. Because of the critical nature of the initiative, the AICPA Peer Review Team will take immediate action on two facets of the initiative: identifying emerging industries and high priority audit areas and applying a combination of outreach, training, and robust peer reviews in these industries and areas. The Peer Review Team has developed a list of potential “deep dive…
  • The Science Behind Social Security Benefits Calculations

    Theodore J. Sarenski, CPA/PFS
    20 Oct 2014 | 4:00 am
    While the Social Security Administration calculates Social Security benefits, it is your due diligence to know the basics so that you can understand how an additional year of earning will affect your clients’ projected benefit. Some people think Social Security benefits are complicated to figure out; in actuality, it’s pretty straightforward. Social Security benefits are computed through this two-step process: Compute the average indexed monthly earnings, called AIME. Compute the primary insurance amount, based on the AIME. AIME Breakdown For each year in which a person has taxed Social…
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    OSYB Number Crunch! Bookkeeping Tips from Outsouce Your Books.

  • 5 Financial Key Performance Indicators to Gauge Your Business’s Health

    OSYB Staff
    30 Oct 2014 | 10:01 pm
    KPI is a blanket term for the types of markers that businesses use to measure performance in a variety of areas, from marketing to HR to finance. Keeping close tabs on your small business’s financial performance is essential to long-term success. These five financial KPIs will help you. 
  • 4 Ways to Get Free Halloween Publicity for Your Business

    OSYB Staff
    30 Oct 2014 | 10:01 pm
    Halloween is one occasion where parents all over the nation look for unusual events for their children to enjoy. But it’s not just for kids. The holiday and its related events thrill people of all ages. Here are a few ideas about how you can get some free Halloween publicity for your business.
  • How to Compete as a Small Business During the Holiday Season

    Ed Becker
    30 Oct 2014 | 6:20 am
    Prepare your staff and consider seasonal help Training your staff a little extra before the holiday season can teach them how to handle rushed, stressed out customers better. You want to have the absolute best customer service possible during the holidays in order to retain existing customers and attract new customers for the future. Consider hiring seasonal help for the typical holiday rush of shopping. Leverage Existing Customers Go the extra mile to entice existing customers to shop with you for the holidays. Existing customers have a 60-70% chance of purchasing again from you, where you…
  • Branding on a Budget: How to Write a Great Creative Brief

    OSYB Staff
    29 Oct 2014 | 10:00 pm
    The creative brief is the foundation of your project. Basically, you’re telling designers what you want to achieve. The brief will help you organize your thoughts before kickoff and allow you to evaluate the success of your project (and the return on your investment) after the design is completed. Read more. 
  • FICA Max increases to $118,500 for 2015

    OSYB Staff
    29 Oct 2014 | 10:00 pm
    The Social Security Administration has announced that the maximum earnings subject to the 6.2% FICA tax rises to $118,500 for 2015.  It has been $117,000 for 2014.   That same cap applies to the 12.4% retirement portion of self-employment tax. The maximum FICA withholding for 2015 will be $7,347.00, up from $7254.00.
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    C/F/R - Cross, Fernandez & Riley, LLP

  • Social Recruiting: Expand Your Reach for Excellent Candidates

    27 Oct 2014 | 7:29 am
    With close to 2 billion active users on social media, there’s an opportunity for recruiters to connect with people they usually wouldn’t.
  • The Science of Customer Retention

    20 Oct 2014 | 9:13 am
    You’ve probably heard the old adage that it costs more to get a new customer than it does to keep an existing one. Not only are new customer acquisition costs higher, but successful customer retention helps to strengthen your brand identity and business reputation.
  • Increase Your Sales with Small Steps

    13 Oct 2014 | 9:28 am
    Keeping the big picture in mind can help you get a larger bottom line.
  • Revive Your Brand!

    6 Oct 2014 | 8:59 am
    The startup world can be rough. Some speculate that 8 out of 10 businesses fail in the first 18 months, while others believe the number is closer to 90 percent.
  • Keep the Recruiting Ball Rolling

    29 Sep 2014 | 9:04 am
    Recruiting: it takes time, energy and focus. It may feel like it’s unproductive for the company since it takes a while for the fruits of your labor – the new hire’s training, acclimation and productivity – to appear.
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    Presti & Naegele

  • October 2014 Newsletter

    28 Oct 2014 | 2:30 am
    Joe Romano lists four steps to successful successions and how to protect your future by planning for the expected and unexpected. The post October 2014 Newsletter appeared first on Presti & Naegele.
  • Four Steps to Successful Succession

    Joseph Romano
    27 Oct 2014 | 10:56 am
    Protect your future by planning for the expected and unexpected You know it’s going to happen eventually. Whether it is the results of a sale, a well-planned turnover of power or an unexpected life event, the day will come when you are no longer running your business on a day-to-day basis. Before that day comes, you will need to develop a plan for the transition of the business you built. If you’re like the majority of business owners, you are probably underprepared for the potential succession of your business. You may be so busy building and running your business that what happens to…
  • Employers prepare for employer mandate and Code Sec. 6056 reporting

    Wayne Naegele
    27 Oct 2014 | 6:15 am
    As January 1, 2015 draws closer, many employers are gearing up for the “employer mandate” under the Affordable Care Act. For 2015, there is special transition relief for mid-size employers. Small employers (employers with fewer than 50 full-time employees, including full-time equivalent employees) are always exempt from the employer mandate and related employer reporting. Employer mandate Under Code Sec. 4980H, an applicable large employer must make a shared responsibility payment if either: The employer does not offer or offers coverage to less than 95 percent (70 percent in 2015) of its…
  • New challenges for 2014 year-end tax planning

    Steve Grgas
    27 Oct 2014 | 6:04 am
    Before the fast-approaching new year, it’s important to take some time and reflect on year-end tax planning. The weeks pass quickly and the arrival of January 1, 2015 will close the doors to some tax planning strategies and opportunities. Fortunately, there is still time for a careful review of your year-end tax planning strategy. Traditional year-end planning techniques For many individuals, a look at traditional year-end tax planning techniques is a good starting point. Spreading the recognition of certain income between 2014 and 2015 is one technique. Individuals need to take into…
  • October 2014 Compliance Calendar

    Wayne Naegele
    9 Oct 2014 | 7:37 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 October 2014. October 1 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates September 24–26. October 3 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates September 27–30. October 8 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates October 1–3.
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    It's Taxing - Bond Beebe

  • IRS Announces Cost-of-Living Adjustments

    29 Oct 2014 | 10:41 am
    Earlier this week, both the Internal Revenue Service and the Social Security Administration announced cost-of-living adjustments impacting the 2015 tax year.First, the IRS the announced a number of cost-of-living adjustments related to retirement items. Below are some of the main points announced by the IRS: Taxpayers who participate in 401(k) plans, 403(b) plans, 457 plans, or the Federal government’s Thrift Savings Plan, may now choose to make annual elective deferrals of up to $18,000 in 2015. The annual catch-up contribution limit for taxpayers aged 50 years or over has also increased…
  • Virginia Recognizes Same-Sex Marriages for Tax Purposes

    24 Oct 2014 | 12:33 pm
    Last year, The Supreme Court ruled in United States v. Windsor that same-sex married couples could be treated as married under federal law.  This had broad implications for US federal taxes for same-sex married couples, but at the state level the laws continued to vary state by state.  When the IRS issued its guidance, they clarified that for tax purposes the IRS would recognize any marriage entered into legally in a state that allowed the marriage, regardless of current residence.  In states like Maryland or the District of Columbia, which allowed same-sex marriages to
  • Tax Principal Brian Wynne Discusses How Your Tax Filing Status Affects What You'll Pay

    12 Sep 2014 | 6:36 am
    Bond Beebe Principal, Brian Wynne, was recently quoted in a Business Insider article about common life changes and how they affect your tax bill.  Click Here for the full article.
  • Inherited IRA's Not Protected from Bankruptcy

    25 Aug 2014 | 6:53 am
    It is now official that inherited IRAs are not considered “retirement funds” within the meaning of federal bankruptcy law and therefore are not exempt from a bankruptcy estate. This ruling was handed down by the Supreme Court in the case of Clark, et ux v. Rameker on June 12, 2014. Typically, retirement funds (IRAs and Roth IRAs) are exempt from a bankruptcy estate and therefore shielded from creditors in bankruptcy. This was done to help debtors to provide for their retirement, even after bankruptcy. However, the Supreme Court ruled that inherited IRAs do not qualify as retirement funds.
  • Retirement Planning: Roth vs. Traditional 401(k) Plans

    23 Jun 2014 | 8:04 am
    This post was written with the assistance of Ashleigh Zeller from the Firm's Benefit Plan sector.  With many employers now offering a Roth 401(k) component with their retirement benefits, you may be wondering which option works best for your retirement planning purposes. Like most questions involving tax planning matters, the answer is rarely straightforward. In this post, we’ll look at the differences between Roth and traditional 401(k) plans, as well as Roth IRA and Roth 401(k) plans, and cover some of the tax consequences you
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  • Sundar Pichai controls almost all guns of Google :Tech News

    Shailendra Yadav
    26 Oct 2014 | 9:34 pm
    This development in tech world is note worthy.Re/Code was first to report the new reshuffle done by Google CEO Larry Page. Earlier heading the Android, Google Chrome and App world this 42 years old Indian born Sundar Pichai will  now control almost all major products of Google like Google+, Google Searches, Google Maps, Google ads and commerce and Infrastructure. His appointment to this new assignments is seen as new heir of Google after... Read More
  • 4 reasons why you should update your Tally.Net subscription.

    Shailendra Yadav
    25 Oct 2014 | 10:39 pm
    First thing first, If you have bought Tally.ERP 9 then your license is for life time. What does this mean? This mean that Tally serial No which you have purchased would remain with you for life time. Until and unless anything drastic happens to Tally (touch wood) or you cease to use Tally. But it is still with you. But like any other software Tally too needs constant updates. Updates related to current statutory, updates related to current... Read More
  • Tally Wins CRN Channel Champion Crown in Software Application

    Shailendra Yadav
    5 Jul 2013 | 5:28 am
    Great news for Tally people. Tally has won the CRN (Channel Reseller News) Award one of the prestigious award in channel management in software segment. The award "Channel Champion Crown for Best Software Application" is given to a company with best channel network. The survey is conducted all over India and feedback from the partners is taken. This survey is one of the most important analysis of how partner-friendly a company has been and... Read More
  • Tally Tip: How to easily enter calculated figures in Tally

    Shailendra Yadav
    13 Jun 2013 | 9:30 pm
    Here is a quite simple but effective Tip for Tally users. It happens while doing entries in Tally that some times you have to calculate the figures and then enter the total of that calculated figures in amount column. For example if you have to enter  the price of a particular item as its MRP + 1.25% extra then what would you do? Probably what you would do  is draw the calculator and then  calculate the sum of MRP + 1.25% and then... Read More
  • Tally Tutorial :How to Book Your Interest, Learn How to do it in Tally.ERP 9

    Shailendra Yadav
    10 Jun 2013 | 1:51 pm
    In my, previous tutorial on Tally I have explained How to calculate Interest on your transactions. This is the part two and last part of this series. First of all you should learn how to calculate interest in Tally and then you should know how to book it in Tally.ERP9. In the later part of that tutorial we have seen that Tally has the flexibility to automatically calculate the interest on time given by us and conditions given by us. To... Read More
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    Goldin Peiser & Peiser, LLP

  • Social Recruiting: Expand Your Reach for Excellent Candidates

    27 Oct 2014 | 10:00 am
    With close to 2 billion active users on social media, there’s an opportunity for recruiters to connect with people they usually wouldn’t.
  • File Form 1099 or face huge fines

    23 Oct 2014 | 12:05 pm
    Protect yourself and your business from the increased IRS penalties associated with failure to file or fraudulent filings of Form 1099 effective for the 2014 tax year! Remember, you must issue a 1099-MISC to persons, vendors, subcontractors, independent contractors, and others to whom your company has paid more than $600 for services in a given tax year. This requirement applies to payments to:
  • The Science of Customer Retention

    20 Oct 2014 | 10:09 am
    You’ve probably heard the old adage that it costs more to get a new customer than it does to keep an existing one. Not only are new customer acquisition costs higher, but successful customer retention helps to strengthen your brand identity and business reputation.
  • Increase Your Sales with Small Steps

    13 Oct 2014 | 11:07 am
    Keeping the big picture in mind can help you get a larger bottom line. Large sales sometimes happen with little efforts, including asking for referrals, using a team approach to sales and re-purposing work you’ve already completed.
  • Revive Your Brand!

    6 Oct 2014 | 9:48 am
    The startup world can be rough. Some speculate that 8 out of 10 businesses fail in the first 18 months, while others believe the number is closer to 90 percent.
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    Advice for Tax Preparers

  • Work in a CPA Firm Tax Department? Plan for Change.

    Bill Meador, CPA, JD
    20 Oct 2014 | 7:21 pm
    Many current and future tax CPAs think they can control the flow of their careers when in most cases they are merely in the eye of the hurricane. But that doesn't mean you're without options. [click to keep reading...]
  • Accounting LIONs

    Bill Meador, CPA, JD
    28 Sep 2014 | 11:52 pm
    If you have followed my blog for a while you are aware that I created a LinkedIn group with the same name as my blog titled Advice for Tax Preparers. That group is devoted to the same premise as my blog in that the group provides accounting students and tax professionals the opportunity the learn, share and discuss tips and tricks on how to succeed as a tax preparer in a public accounting firm. I have now created a new LinkedIn group called Accounting LIONs which goes in a completely different direction. This group solves a big problem for accounting students and accounting professionals who…
  • Interviews to Help Tax Preparers

    Bill Meador, CPA, JD
    4 Sep 2014 | 1:48 pm
    As part of my blog Advice for Tax Preparers, I will be adding interviews other tax professionals on their advice, tips, and tricks to make your life as a tax preparer easier and more successful. My intent is to get a wide range of interviews from tax professionals in terms of their experience and part of the country so that you can get an understanding of which issues are common in public accounting firm tax departments versus which issues depend on your situation or part of the country. [click to keep reading...]
  • Learn Why New Accounting Staff Eat Time & How to Fix The Problem

    Bill Meador, CPA, JD
    12 Aug 2014 | 12:17 pm
      Accountants by the nature of our profession want to follow rules. Therefore, we like it when we have guidelines such as an employee handbook that tell us how to respond in an accounting firm to a particular situation. However, new accountants soon find out that the firm grapevine provides unwritten rules to be followed as well. One example is in the area of the billable hours (the time each person charges to the job for preparing and reviewing the tax return or audit) that a staff should put on his timesheet. If the staff person talks to people in the firm they will get one or more of…
  • Why Should You Take a CPA Exam Review Course?

    Bill Meador, CPA, JD
    29 Jul 2014 | 11:22 am
    I recently published an article with several tips to help people pass the CPA exam. (See 4 Tips from a 20 Year CPA to Pass the CPA Exam). One of the tips I mentioned in the article was that they should take a review course for at least auditing, but I believe they should take one for all of the courses. Most of the responses I received on that point were positive, but I had one person ask me why anyone should bother taking a review course. They noted that they had bought a couple of review books and some test questions and done just fine on the CPA exam. I figured that there might be others…
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    The Cheap Accountants

  • Start-up business advice

    30 Oct 2014 | 9:18 am
    A viable idea is only the beginning of your business venture. Turning your idea into a business requires much more. You will need a fair measure of self-confidence, ambition, passion and often be willing to take calculated risks. Here are a few top tips when starting up a business: Always have a business plan Putting together a business plan might seem like a daunting and tedious task. However, it forces you to highlight how much money you will need to get started and any potential problems that might arise. Research Researching your market and identifying potential customers is crucial to…
  • Why should SMEs avoid taking out an overdraft? Stephen Hodges explains.

    27 Oct 2014 | 6:37 am
    According to the Chief executive of banking at Close Brothers, Stephen Hodges, overdrafts leave firms vulnerable to bank whims. SMEs are far too reliant on overdrafts and would be better off avoiding them altogether. He says that they should be using the assets of the business to access alternative sources of finances instead. Hodges argues that “when SMEs think about raising money they automatically think about overdrafts. But overdrafts are a lousy way for SMEs to borrow money. They may not get enough cash to buy the new vans or machine tools you need, and worst of all, their bank can…
  • HSBC and First Trust criticised for small business loan bundling

    23 Oct 2014 | 1:54 am
    Small businesses have wrongly been told they needed to open current accounts in order to secure a loan from banks Competition authorities have censured HSBC and First Trust banks for wrongly requesting small and medium sized businesses (SMEs) to open a current account in order to secure a loan. In 2002 regulators prohibited banks and major UK lenders in the UK from the practice known as “bundling”. However the Competition and Markets Authority (CMA) said First Trust and HSBC had “breached these undertakings”. CMA chief executive, Alex Chisolm, called the breach a “serious matter”…
  • Small businesses are being starved of finance by the banks

    20 Oct 2014 | 5:02 am
    Small firms are being starved of finance by the banks but peer-to-peer business lenders are stepping into the breach. According to the latest trends in Lending report, small firms continue to struggle to access cash from the banks. The Bank of England report showed that net lending to small and medium-sized enterprises (SMEs) through the Government’s Funding for Lending scheme (FLS) was down in the second quarter or this year, contracting by £400 million. It has been said that the FLS scheme is failing to benefit large firms too, with lending down to £3.9 billion to corporates in the…
  • Four-Year high confidence boost for UK small businesses

    13 Oct 2014 | 6:56 am
    According to software firm Sage, the UKs small businesses have had their confidence boosted to a four-year high with almost half of them planning to go on a hiring spree. The annual Sage Business Index found that UK companies were more optimistic about the prospects for their own business rising 3.74 points to a four-year high of 66.29. The research also revealed that UK businesses have greater confidence in the national economy following a 7.81 increase to 61.76 in the last year, putting them ahead of both German and French businesses. Sage stated that the rise in confidence is also…
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    Jetpack Workflow » Blog

  • Getting your first 100 clients & building recurring revenue: The Josh Bauerle interview

    Jetpack Workflow
    30 Oct 2014 | 5:33 am
    In this interview, we talked with Josh Bauerle, who came on to talk his story to launching his own firm.   In this interview, we talk about: + How Josh found his first opportunity to start his own firm + How we landed a “Dream Client” that catapulted his firm + How he packages his... Read more » The post Getting your first 100 clients & building recurring revenue: The Josh Bauerle interview appeared first on Jetpack Workflow.
  • Growing Your Firm Podcast Now Live

    Jetpack Workflow
    7 Oct 2014 | 6:14 am
    Growing Your Firm Podcast Now Live!   We’re excited announce our latest project, Growing Your Firm Podcast! For those following the blog, we’ve been posting interviews for a few weeks, but after the great response on the content, we decided to launch it both on iTunes and Stitcher radio! So now you can listen to... Read more » The post Growing Your Firm Podcast Now Live appeared first on Jetpack Workflow.
  • The “New” Rules of Marketing for Accounting Professionals

    Jetpack Workflow
    24 Sep 2014 | 5:23 am
    Are you stuck wondering why marketing dollars are no longer working? And while I would never dismiss a marketing campaign without testing, there are some fundamental differences in marketing today.   Thank you to Steve Pipe posting this. Original poster TBD So much of this poster sounds fantastic, but let’s break down what each rule means:... Read more » The post The “New” Rules of Marketing for Accounting Professionals appeared first on Jetpack Workflow.
  • Website Best Practices For Accounting Firms

    Jetpack Workflow
    17 Sep 2014 | 4:57 am
    The Difference Between High ROI Websites for Accountants vs Those That Just Waste Money   Ever wonder how some websites bring in leads while others flounder with ZERO ROI? Your website is “main” street in your marketplace. Almost all of your clients and prospects will be searching online to learn more, and unlike sites like... Read more » The post Website Best Practices For Accounting Firms appeared first on Jetpack Workflow.
  • Finding Freedom in Your Firm: Our Interview with Steve Pipe

    Jetpack Workflow
    10 Sep 2014 | 6:22 am
    This week’s guest is Steve Pipe, Founder of ImproveYourPractice. In this episode, we cover… How (and Why) You Should Intentionally Work with Fewer Clients How to Build Greater Connection and Increase Prices with Your Client Price How to Build Recurring and Predictable Revenue for Your Firm and so much more: Resources mentioned in the episode:... Read more » The post Finding Freedom in Your Firm: Our Interview with Steve Pipe appeared first on Jetpack Workflow.
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    Excel Software | Program Akuntansi | Laporan Keuangan

  • Menghilangkan Kotak Teks pada Sheet Menu Aplikasi

    14 Oct 2014 | 7:29 pm
    Pertanyaan : Bagaimana caranya menghilangkan kotak teks berjalan “program by syafuddin” pada sheet menu aplikasi. Jawab : Perlu diketahui, hampir semua aplikasi Excel yang kami bikin, pada sheet menu tertentu, terdapat pesan berjalan mengikuti pergerakan atau perpindahan sel. Untuk menghilangkan pesan berjalan tersebut, lakukan beberapalangkah berikut : (1) Bolok seluruh sel dengan kursor, atau dengan […]
  • Perbedaan Akuntansi Keuangan dan Akuntansi Manajemen

    26 Sep 2014 | 7:55 pm
    Penggnaan akuntansi dalam bisnis dan dinamika perusahaan, mempunyai peran yang sangat penting terutama untuk memberikan informasi keuangan sebagai pendukung pengambilan keputusan. Berbagai macam kepentingan dan keputusan dalam penggunaan informasi keuangan perusahaan menyebabkan berkembangnya ilmu akuntansi. Informasi keuangan yang dihasilkan bukan hanya terbatas pada penyediaan laporan keuangan sebagai bentuk pertanggungjawaban manajemen saja, namun sebagai alat pendukung pengambilan keputusan di masa datang. Meskipun perkembangan akuntansi […]
  • Perbedaan Akuntansi Komersial dan Akuntansi Pemerintahan

    25 Sep 2014 | 3:09 am
    Menurut Kerry Soetjipto (1994), kegiatan pemerintah dapat dibagi dalam 2 (dua) golongan, yaitu: Pertama, kegiatannya tidak bertujuan mencari laba melainkan meningkatkanpelayanan untuk masyarakat, Kedua, kegiatannya mirip dengan perusahaan, walaupun mencari laba bukan tujuan utamanya, melainkan untuk mempertinggi penyediaan jasa bagi masyarakat. Organisasi jenis ini memperoleh pendapatannya dari menjual jasa kepada masyarakat dan dikenal sebagai organisasi […]
  • Perbedaan Standar Akuntansi SAK-ETAP dan PSAK

    25 Sep 2014 | 2:31 am
    Ikatan Akuntan Indonesia pada tanggal 17 Juli lalu telah meluncurkan standar akuntansi ETAP (SAK-ETAP) bertepatan dalam acara Seminar Nasional Akuntansi “Tiga pilar Standar Akuntansi Indonesia” yang dilaksanakan oleh Universitas Brawijaya dan Ikatan Akuntan Indonesia. Nama standard ini sedikit unik karena exposure draftnya diberi nama Standar Akuntansi UKM (Usaha Kecil dan Menengah), namun mengingat definisi UKM […]
  • Download Formulir Pendaftaran Pajak

    24 Sep 2014 | 7:27 pm
    Sumber : Peraturan perpajakan terbaru mengenai formulir pendaftaran NPWP, PKP perubahan data serta perpindahan Wajib Pajak PER-44/PJ/2008 & Lampiran I dan Lampiran II, peraturan ini mengubah formulir pendaftaran yang dahulu cuma satu formulir (pendaftaran NPWP/Perubahan Data) sekarang dipecah menjadi delapan formulir yakni : APLIKASI AKUNTANSI EXCEL sebuah program olah data akuntansi yang dikembangkan melalui […]
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