• Most Topular Stories

  • Money managers cut equities exposure, poll finds

    CPA Letter Daily
    1 Oct 2014 | 6:04 am
    Money managers in the U.S.  -More- AICPA's Annual Webcast Pass The AICPA Annual Webcast Pass combines travel-free CPE and live Q&A with national experts with unlimited access to an extensive lineup of events—all at an incredible discount. Choose sessions to fit your schedule, from one to eight hours, including a course on the new Revenue Recognition standard on Oct. 15. Subscribe Now.
  • How to create an emergency plan for your firm

    Financial Planning Digest
    29 Sep 2014 | 10:12 am
  • 18-Year Old Anthony Canalungo Questions Herbalife, And PwC, On Exchange Rates

    re: The Auditors
    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…
  • Deloitte: Executives Optimistic about US Economy in 2015

    Deloitte U.S. Top Stories
    1 Oct 2014 | 2:00 am
    Executives Optimistic about US Economy in 2015: Capital investments, deals expected to increase; Mideast turmoil not necessarily biggest challenge.
  • Deloitte announces record revenues of US$34.2 billion

    Deloitte Global headlines
    26 Sep 2014 | 5:28 am
    Growing demand for services produces fifth consecutive year of aggregate member firm growth of 6.5 percent in local currency. Demand for consulting was particularly strong with growth at 10.3 percent. Strong growth was also experienced by Tax & Legal (7.7 percent), Financial Advisory (6.8 percent), and Enterprise Risk Services (4.2 percent).
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    CPA Letter Daily

  • Money managers cut equities exposure, poll finds

    1 Oct 2014 | 6:04 am
    Money managers in the U.S.  -More- AICPA's Annual Webcast Pass The AICPA Annual Webcast Pass combines travel-free CPE and live Q&A with national experts with unlimited access to an extensive lineup of events—all at an incredible discount. Choose sessions to fit your schedule, from one to eight hours, including a course on the new Revenue Recognition standard on Oct. 15. Subscribe Now.
  • Order your complete overview of the latest forecasting and budgeting processes

    1 Oct 2014 | 6:04 am
    The Financial Forecasting Challenges and Strategies Course Bundle is a comprehensive collection of online courses offering fi -More- 
  • What are board members doing to combat risk?

    1 Oct 2014 | 6:04 am
    U.S.  -More- BillQuick is the premier time tracking, billing and project management software that provides key metrics without additional data entry. Instead of stressing over managing internal processes, use BillQuick to streamline your most common tasks so you can spend more time providing high quality service to clients. Complete with anytime, anywhere access, automatic billing and reporting options and seamless QuickBooks integration, BillQuick makes it easier and more profitable to run your business. Learn more about BillQuick.
  • Drop in Japanese industrial production surprises experts

    1 Oct 2014 | 6:04 am
    Japanese industrial companies were hit by an unexpected decline last month, despite the yen trading close to a six-year low,  -More- 
  • FASB gets mainly supportive comment letters regarding 2 projects

    1 Oct 2014 | 6:04 am
    The Financial Accounting Standards Board received 45 comment letters regarding two projects to streamline disclosure rules fo -More- 
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    re: The Auditors

  • 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…
  • Speaking Engagements/Conferences

    18 Sep 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: October 2, 2014, PCAOB Standing Advisory Group, Meeting on Auditing Accounting Estimates and Fair Value Measurements, Washington DC. Attending as media. October 11, 2014, University of…
  • More On My Reuters Breakingviews Column: The Andersen Tax Name Grab

    8 Sep 2014 | 10:56 am
    News broke on September 2 that a firm, made up of ex-Arthur Andersen tax partners and called Wealth and Tax Advisory Services LLC, bought the Andersen portion of the Arthur Andersen name from what’s left of that firm and will now call itself Andersen Tax. The news, as you would expect, garnered much media attention. It says something—but maybe not what the firm’s partners think— that so many years after the destruction of Arthur Andersen by criminal indictment—twelve years—so many people care. Every major media and trade publication as well as several blogs wrote about it.
  • Auditor Independence: Another Case of Misplaced Loyalty

    2 Sep 2014 | 5:33 am
    I wrote a couple of weeks ago about the PwC Director, now partner, who is mixed up in PwC’s fine and sanctions for its lack of independence and objectivity at consulting client Bank of Tokyo-Mitsubishi UFJ. PwC consulted with the bank about money laundering allegations, at the request of regulators who were looking for reassurances from PwC that the bank was now complying with the law. The New York Times article about New York Department of Financial Services Superintendent Benjamin Lawsky’s enforcement action against PwC says that “when it was time for Bank of Tokyo-Mitsubishi to file…
  • You’ll Never Eat Lunch… A Review of “This Town” By Mark Leibovich

    24 Aug 2014 | 1:10 pm
    In Julia Phillips’ 2002 People magazine obituary, Joni Evans, her editor for the raucous 1991 memoir, “You’ll Never Eat Lunch In This Town Again,” says, “Where some of us glow, she burned.” Phillips, an Oscar winner at age 29 as a producer of The Sting, and the first women to do so, burned bridges for sure. But she died, at age 57 of cancer, with no regrets, according to her daughter Kate. I read Phillips’ book in 1991. The paperback is still on my shelves. I remember thinking that someday I wanted to write with the same ferociousness and the same freedom. Mark Leibovich’s…
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    Deloitte Global headlines

  • Deloitte announces record revenues of US$34.2 billion

    26 Sep 2014 | 5:28 am
    Growing demand for services produces fifth consecutive year of aggregate member firm growth of 6.5 percent in local currency. Demand for consulting was particularly strong with growth at 10.3 percent. Strong growth was also experienced by Tax & Legal (7.7 percent), Financial Advisory (6.8 percent), and Enterprise Risk Services (4.2 percent).
  • Deloitte receives top awards at International Tax Review’s Americas Tax Awards

    26 Sep 2014 | 5:28 am
    Deloitte network of member firms (Deloitte) received top regional honors by International Tax Review at the annual Americas Tax Awards, receiving four regional awards.
  • Top 10 global retailers show modest growth in 2014

    26 Sep 2014 | 5:27 am
    Revenues for the world’s top 10 largest retailers reached $1.3 trillion in the last fiscal year (encompassing companies’ fiscal years ended through June 2014). This is a 2.9 percent change from the prior year indicating modest growth. The retailers have been ranked according to their fiscal 2013 net retail revenue in U.S. dollars. The average size of the top 10 retailers exceeded $129 billion according to the Global Powers of Retailing report from Deloitte Touche Tohmatsu Limited (DTTL), in conjunction with STORES Media.
  • Global Powers of Consumer Products 2014

    26 Sep 2014 | 5:26 am
    Global consumer products industry shows glimmer of hope despite renewed market turbulence, according to Deloitte report.
  • 2014 Global Powers of Retailing

    26 Sep 2014 | 5:23 am
    Revenues from the world’s 250 largest retailers reached $4.3 trillion; increased divestments resulted in a shake-up among the world’s 10 largest retailers.
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    Accounting News and Notes

  • Keeping Your Tax Filings Current for Your Company/Business Retirement Plan

    John Dillard
    25 Sep 2014 | 2:15 pm
    Filing IRS Form 5500/5500EZ Be sure you work with your financial adviser to determine your corporate responsibility to file an annual tax return for your retirement account even if you have a one plan participant. The returns required to be filed are IRS Form 5500 & Form 5500EZ. Though there are exceptions to the need to file the return there are also substantial penalties for late filing.
  • Buying a Building For Your Business

    John Dillard
    25 Sep 2014 | 10:07 am
    Should I buy a NEW Building in the Name of My S Corporation or Set Up a Separate LLC? When an S Corporation owner initially considers buying a building is the ideal time to set up an LLC and then to have a separate LLC own the business with their own S Corporation being the tenant and the new LLC the landlord as the LLC would ideally purchase the building. This is the most ideal time as the tax repercussions as detailed below are not in effect. However if an S Corporation initially buys and now owns a piece of real estate and then seeks to sell it to another (even if selling/transferring…
  • Financing Your Life After Turning 50

    John Dillard
    25 Sep 2014 | 9:20 am
    Finance After 50 – that topic brings a lot of questions to mind for many people planning for their future. Premier Reverse Mortgage asked some experts in the field of finance to give us their answers to three key questions: When I can retire? What about debt? How’s my credit? If you are over 50 you are encouraged to be disciplined in the area of finances as retirement approaches so you can maximize the years ahead. Read the full article at Premier Reverse Mortgage
  • A Virtual CFO Can Help You Do MUCH More Than Your Accounting! Helping Entrepreneurs REACH Their Dreams

    John Dillard
    25 Sep 2014 | 7:49 am
    As an #AtlantaVirtualCFO for decades our experience allows us to do MUCH more than your bookkeeping, accounting and financial statements. The below is a sample letter we might send to a client who is rapidly GROWING and looking to add the framework for continued business success. Is it time to UPGRADE Your CPA/Virtual CFO Services Today? As we GROW and add infrastructure had the below thoughts… -Have your medical insurance agent set you up a Section 125 plan. Most insurance companies will do for free and allows your employees to set aside the medical insurance premiums they pay out of…
  • Water@Work is hosting its’ first ever Golf Challenge event on October 21, 2014 @ Noon at Laurel Springs Golf Club

    John Dillard
    25 Sep 2014 | 6:30 am
    As I’m sure you all know by now, W@W is hosting its’ first ever Golf Challenge event on October 21, 2014 @ Noon at Laurel Springs Golf Club in Suwanee, Georgia.     Maybe as you, I do not play much golf anymore but want to support the ministry in anyway possible and don’t want to miss out on seeing how GOD will raise up our Ministry and the people we serve. THIS IS WHERE WE COME IN… I am proposing we form a “BOARD TEAM” that we can all join as fundraisers…    Here is the link to our page where the first step I need you to take is join in as a…
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    NJSCPA Exam Cram Blog

  • The Countdown is On

    Mark Eckerle
    1 Oct 2014 | 5:57 am
    My Reg exam is less than a week away. I have been staying late at the office for the past two weeks reviewing my notes and doing MCQs. I am a little nervous, because I have been getting an average...
  • Study Habits

    Joseph Zapf
    29 Sep 2014 | 6:49 pm
    Hey Everyone, It’s good to catch up with you all again. As you know I got my BEC exam out of the way and I have now moved on to AUD. I have already begun studying, and in fact I...
  • On My Way to a CPA: Tip # 8

    Michael Palantone
    27 Sep 2014 | 8:02 am
    Good morning all! So this weekend marks what could possibly be my last weekend of studying for the CPA exam, fingers crossed. It is the biggest piece of motivation for me because this past month I've lost a lot of...
  • Welcome Fall

    Danielle Miller
    23 Sep 2014 | 2:40 pm
    My favorite season of the year is finally here! Boots, scarves, football, apple picking, pumpkin picking - it is just the best! Before I kiss all of the spring/summer activities away, I am attending the Yankees game this Thursday to...
  • Where you start is not where you'll end up....

    Janice Amatucci
    22 Sep 2014 | 7:37 am
    Last week, the NJSCPA held its first Young Professionals Half-Day Conference which was a wonderful success. One of our speakers, Jen Slaw, is now providing us with some important lessons, some of which I will share with you. Here is...
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  • What is a plant asset?
    25 Sep 2014 | 9:26 am
    A plant asset is an asset with a useful life of more than one year that is used in producing revenues in a business’s operations. Examples of plant assets include land, land improvements, buildings, machinery and equipment, office equipment, furniture, fixtures, vehicles, leasehold improvements, and construction work-in-progress. Plant assets are also referred to as fixed assets and/or property, plant and equipment. Plant assets are recorded at cost and depreciation is reported during their useful lives. (However, there is no depreciation of land, and the depreciation for construction…
  • What is salvage value?
    24 Sep 2014 | 6:35 am
    In accounting, salvage value is an estimated amount that is expected to be received at the end of a plant asset‘s useful life. Salvage value is sometimes referred to as disposal value, residual value, terminal value, or scrap value. The estimated salvage value is deducted from the cost of the asset in order to determine the total amount of depreciation expense that will be reported during the asset’s useful life. Accountants and income tax regulations often assume that plant assets will have no salvage value. This will result in an asset’s entire cost being depreciated…
  • What is the statement of cash flows?
    23 Sep 2014 | 6:34 am
    The statement of cash flows is one of the main financial statements. It is to accompany the income statement, balance sheet, and statement of stockholders’ equity. The statement of cash flows (also known as the cash flow statement) reports the major sources and uses of cash during the period of the income statement a reconciliation of the change in an organization’s cash and cash equivalents (which are reported on the beginning and ending balance sheets) supplementary information including the amount of income taxes paid, the amount of interest paid, and significant noncash…
  • What is treasury stock?
    10 Sep 2014 | 8:15 am
    Treasury stock is a corporation’s previously issued shares of stock which have been repurchased from the stockholders and the corporation has not retired the repurchased shares. The number of shares of treasury stock (or treasury shares) is the difference between the number of shares issued and the number of shares outstanding. Since the treasury shares result in fewer shares outstanding, there may be a slight increase in the corporation’s earnings per share. Treasury Stock is also the title of a general ledger account that will typically have a debit balance equal to the cost of…
  • What is the contribution margin ratio?
    9 Sep 2014 | 8:25 am
    The contribution margin ratio is the percentage of sales, service revenues or selling price that remains after all variable costs and variable expenses have been covered. In other words, the contribution margin ratio is the percentage of revenues that is available to cover a company’s fixed costs, fixed expenses, and profit. (The contribution margin ratio is different from the gross margin ratio or gross profit percentage and cannot be computed directly from the reported amounts on the company’s external income statement.) To illustrate the contribution margin ratio, we will…
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    CPA Success

  • MACPA honors women leaders with first Women to Watch Awards

    30 Sep 2014 | 3:08 am
    MACPA Chair Marianela del Pino-Rivera and AICPA Chair-elect Tommye Barie hosted our first Women to Watch Awards breakfast on Sept. 23. Pictured are Lexy Kessler, Aronson; Tommye Barie, AICPA chair-elect; Aileen Eskildsen, Ellin & Tucker; Marianela del Pino-Rivera, MACPA chair; Tammy Schneider, Glass Jacobson; and Elise Brouillette, PWC.  Past MACPA board member Samantha Bowling chaired the Task Force that developed the program as part of the AICPA's national initiatives on women, diversity and inclusion. Our first year set the bar high with an impressive number of nominations (32)…
  • Amal Alamuddin and her husband strike a blow for equality

    29 Sep 2014 | 5:00 pm
    George Clooney is a married man. You might have heard. One of the world’s most famous and eligible bachelors finally tied the knot when he exchanged vows with Lebanese-born English barrister and New York litigation attorney Amal Alamuddin. The world’s best coverage of the event came from The Business Woman Media, which reported the story this way: “Internationally acclaimed barrister Amal Alamuddin marries an actor.” Brilliant. That, my friends, is how diversity and equality happen. When we start changing our perspective. When we stop equating status with importance.
  • Progress starts with accepting our own ignorance

    29 Sep 2014 | 4:00 am
    Gordon Moore was no Nostradamus. And that’s a good thing. Nostradamus (born Michel de Nostredame) was a 16th-century French seer who, basically, just made crap up. His philosophy on predicting the future apparently boiled down to this: “Make a prophesy vague enough and people will think you predicted everything!” Moore, on the other hand, settled on a theory that was so accurate, it became a law. In 1965, Moore — the co-founder of Intel — theorized that computing power would double roughly every two years, and he was right. Those advances continue to this day,…
  • Overrated? Not Tom ‘The Machine’ Hood

    23 Sep 2014 | 7:36 am
    Nobody does wiseassery like the folks at Going Concern, but they outdid themselves with “The 20 Most Overrated Things in Accounting.” With tongue planted firmly in cheek (we think), editor Adrienne Gonzalez includes our own Tom Hood on her “Overrated” list with the following: "Bro, seriously, knock it off. You're making everyone else look bad. As we all know, accounting is not an industry known for its innovators, making Tom's commitment to leading the pack that much more obvious. Plus, the guy is a freaking machine. Take a day off, Tom." Yeah, that’s about…
  • Leadership lessons from the maestro, Ben Zander

    22 Sep 2014 | 1:19 am
    Imagine 300 chartered accountants and CPAs standing and singing -- no, more like shouting -- Beethoven's Symphony No. 9, "Ode to Joy," in German! That was exactly how Benjamin Zander closed the 2014 Collins Barrow National Partners' Conference in Boston. They were inspired by Zander, conductor of the Boston Philharmonic Orchestra, teacher, speaker, and best-selling author of The Art of Possibility: Transforming Professional and Personal Life. He was there to talk about leadership and learning. He ended up talking about vision and possibility and how we all can make the world a better place.
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    TSCPA Governmental Affairs

  • 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.  
  • CPA Charles Perry wins Senate District 28 special election

    Bob Owen
    10 Sep 2014 | 1:58 pm
    CPA and TSCPA member Rep. Charles Perry (R-Lubbock) is now Senator Perry.  He won the special election without a runoff in a field of six candidates getting 53% of the votes with his closest competitor at 30%.  According to the Texas Tribune "Of the district's 51 counties, Perry broke 50 percent in 42 of them.  You can read more about the election results in the TT article. Perry was endorsed by TSCPA-PAC.  CPAs will be glad to have a CPA in the Senate once again.  Sen. Tommy Williams, a CPA and TSCPA members, resigned his senate seat late last year.
  • Strategic Fiscal Review

    Bob Owen
    5 Sep 2014 | 11:30 am
    The Legislative Budget Board (LBB) announced a strategic fiscal review (SFR) of the state budget at this week's House Appropriations Committee meeting.  What is a strategic financial review?  Think of it as zero based budgeting on steroids.  The LBB was directed to do the SFR on selected state agencies by Speaker Joe Straus (R-San Antonio).  The selected state agencies represent about 21% of the total of the all funds budget for the 2014-15 biennium. For those agencies selected the SFR will be detailed, looking at historical operations…
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    CPA Technology Blog

  • 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-...
  • CPA Firm App Compatibility With Office 2013

    Brian Tankersley
    4 Aug 2014 | 1:01 pm
    My “crib notes” on compatibility of key accounting firm apps with Office 2013 – and the related vendor web pages which provided the data are as follows: · QuickBooks (Source: Back year versions of QB have issues – especially...
  • State Sales Tax Holidays Infographic

    Brian Tankersley
    25 Jul 2014 | 9:37 am
    A summary of the state Sales Tax holidays appears below, courtesy my friends at CCH/Wolters Kluwer. Let’s be careful out there, people – shopping is NOT a contact sport.
  • Guest Blog Post: “The Tale of the Shark and the Minnow”

    Brian Tankersley
    24 Jul 2014 | 5:10 am
    The Tale of the Shark and the Minnow - a guest post from Sage where you have a chance to win some pampering and SPA TIME paid for with OPM - "Other People's Money". Spend wisely, people.
  • Shocker: TrueCrypt Discontinued, Official Page Says It Has Security Issues

    Brian Tankersley
    28 May 2014 | 6:39 pm
    Open source drive encryption tool Truecrypt announced that the product is discontinued on its main website today, and the official website has been replaced with directions for getting any encrypted data moved to Bitlocker-protected drives. The website says that “Using...
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    CPA Trendlines

  • 18 Ways Sponsors Can Help Their Protegees

    Beth Bellor
    1 Oct 2014 | 2:00 am
    And how to tell the difference between a mentor and a sponsor. By Ida O. Abbott Sponsoring Women: What Men Need to Know The practice of mentorship is well known and well established in today’s workplace. A mentor is someone who helps a more junior person learn, develop and achieve her professional goals. Mentoring is […]
  • Readers Sound Off on Liberty, H&R Block Plans to Launch Bookkeeping Services

    Beth Bellor
    30 Sep 2014 | 6:44 am
    New strategic ally, or competitive threat? Practitioners are actively debating the effects and impact of H&R Block and Liberty jumping into the bookkeeping business, as detailed by CPA Trendlines’ Hitendra Patil here. “This is an opportunity to highlight quality,” says Wesley Middleton, head partner at Middleton Raines in Houston. “The only person who has something […]
  • The 5 Main Reasons the Appetite to Acquire Smaller Firms Will Remain Insatiable

    Beth Bellor
    29 Sep 2014 | 2:00 am
    Apparently, they’re worth it. By Marc Rosenberg Retirements & Buyouts An ample supply of willing buyers is a critical factor that strengthens and confirms the value of any asset, let alone a CPA firm. Virtually every firm, from sole practitioners to the Top 100, is eager to acquire a smaller firm. Why is this? Acquiring […]
  • Client’s Difficult Daughter Balks at Bill

    Beth Bellor
    28 Sep 2014 | 9:26 pm
    Do you talk to the dad? By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I have a very good client who pays us to prepare his daughter’s tax return. The daughter was going through a divorce and asked us to assist her and her attorney and she said she would pay us herself, and […]
  • Survey Finds Small Business Bullish on 2015

    28 Sep 2014 | 9:01 pm
    51% plan new hiring now and into next year. For 2015, 81 percent percent of small businesses forecast a revenue increase, with 21 percent expecting to grow more than 100 percent, according to a new survey. The study also shows that employing an accountant pays off. SMBs (small and medium-size businesses) that use an accountant with online […]
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  • Innovative financial intelligence tools specialists acquire financial consulting services firm

    30 Sep 2014 | 10:13 pm
    By Rob Starr, Content Manager Finagraph ( provides automated financial intelligence tools and data verification to financial institutions. They recently announced the acquisition of BBI Financial (, a financial services firm that provides training and education programs for bankers and business owners. The deal marked a big move forward for the robust analytics and comprehensive information company and James Walter, c...Keep on reading: Innovative financial intelligence tools specialists acquire financial consulting…
  • Career advice from a dual perspective

    26 Sep 2014 | 4:16 am
    By Rob Starr, Content Manager Professor Timothy A. Gagnon has combined accounting and law degrees into a hybrid well of information anyone currently working in The Big4 or planning a career there should dip into. His resume includes Attorney at Timothy A. Gagnon, Attorney at Law, Professor/Faculty Director MST and MSA On-line Programs at Northeastern University and Managing Member at G&R Business Advisory Services LLC. Gagnon is quick to point out what might seem like diverge...Keep on reading: Career advice from a dual perspective
  • 5 clever ways to get your mentor and sponsoring partner to help you to make partner

    26 Sep 2014 | 1:52 am
    Fail to use these 5 tips and you are risking sabotaging your career progression to partner in your current firm. In this article, Heather Townsend, co-author of How To Make Partner And Still Have A Life and The Go-To Expert, shares 5 tips based on her recent experiences of helping her client successfully get appointed to a partnership position in a top 5 firm in the UK. 1. Use them for interview practice Every partnership admissions process is different. However most of them will involve...Keep on reading: 5 clever ways to get your mentor and sponsoring partner to help you to make partner
  • The Six Levels of Relationships: Where are Yours?

    25 Sep 2014 | 11:10 am
    By Andrew Sobel, Big4 Guest Blogger There are six levels of professional relationships that you should be naturally moving your clients through. The first two are pre-client: Level 1: Contact This is the starting point. We meet someone, have a brief conversation, and exchange business cards. We may stay in touch over the years, but there is little interaction. The individual is primarily just a name in our contact database. Level 2: Acquaintance Acquaintances are contacts whom...Keep on reading: The Six Levels of Relationships: Where are Yours?
  • EY’s Allie Rutherford named to 2014 NACD Directorship 100 list

    24 Sep 2014 | 10:13 pm
    By Rob Starr, Content Manager. Along with her colleague, Stephen R. Howe, Jr., EY's Allie Rutherford was named to the list recognizing the most influential leaders in the boardroom and corporate governance community. Rutherford is the Director of Corporate Governance in the EY Center for Board Matters and she answered a few questions via email.   What does it mean to be named to the National Association of Corporate Directors’ (NACD) 2014 Directorship 100 honorees? It is ...Keep on reading: EY’s Allie Rutherford named to 2014 NACD Directorship 100 list
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    Success Starts Here

  • 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…
  • International Tax Intern's Summer Video Blog

    21 Aug 2014 | 7:57 am
    Vikas Tailor is an International Tax Intern in McGladrey's Schaumburg office this summer. Learn about the details of his internships and his four tips for future interns.
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    One Accounting

  • 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…
  • Scottish (Mock) Referendum Result!

    Chris Thomas
    16 Sep 2014 | 8:05 am
    We held our own mock Independence Referendum in the office today. Chris splashed out on a teapot and we had some fantastic cupcakes delivered by Cuckoos Bakery. We are a pretty diverse bunch with our team of 10 coming from Scotland, England, Ireland, Germany, Greece and New Zealand. So, we thought that we would be a good barometer as to how Thursday’s vote will go. Tensions rose as the ballot papers were handed out. We had three options to choose from; “Yes”, “No” and “Don’t Know” for good measure. One by one we entered the special polling booth to cast our vote. A quick team…
  • New HMRC Late Filing Penalties

    Chris Thomas
    5 Sep 2014 | 2:06 am
    From 6 October 2014 the HMRC computer will automatically issue you with a penalty if you submit your full payment submission (FPS) under RTI “late”, or don’t submit it at all for a month in which you paid your employees. So what makes the FPS “late”? HMRC say the FPS must be submitted on or before the day the employer pays the employees (the “payment date”). But is that the day the funds leave the employer’s bank account or the day the employee receives the money? In fact the “payment date” for RTI purposes is neither of these dates.
  • Commission Refunds

    Chris Thomas
    19 Aug 2014 | 7:32 am
    If you invest through a firm of financial advisers, you may well receive a repayment of commission from that firm each year. In previous years any refunded commission was rolled into the earnings from your investments or set against charges, so you may not have been aware of it. However, from 6 April 2013 the financial adviser must deduct tax from any refunded commission and show the amounts paid and deducted separately on your annual statement . You should look out for these refunded amounts on your investment statement for 2013/14, as it must be declared on your 2013/14 tax return. However,…
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  • 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…
  • Have You Ever Had a Mastermind Moment?

    Jonathan Milligan
    3 Sep 2014 | 3:00 am
    No one likes the feeling of being stuck, yet each of us have been there. You’re in a fog. A string of cloudy days one after another. Then, it happens. A thought, comment, or suggestion sparks an idea. The fog begins to lift and for the first time in awhile clarity comes to visit. 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. I like to call these “mastermind moments.” I call them mastermind moments because they often take place on…
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    Invoice Factoring Companies | Factoring Invoice | Accounts Receivable Factoring for

  • Accounts Receivable Financing to Establish or Improve Business Credit Rating

    Heather Burford
    30 Sep 2014 | 11:25 am
    It is not without reason that accounts receivable financing has been consistently gaining popularity. Today’s harsh economic environment makes it difficult for new companies with limited assets or those who have not established good business credit to secure traditional loans … Continue reading →
  • Accounts Receivable Factoring Companies

    Heather Burford
    26 Sep 2014 | 10:08 am
    Whether you are new to the accounts receivable factoring game or an old hat, there are probably things you don’t know about the process.  Here are three facts about how accounts receivable factoring companies can help your business: •    Accounts … Continue reading →
  • The Best Invoice Factoring Company

    Heather Burford
    25 Sep 2014 | 9:47 am
    In order for invoice factoring to be successful for your company, it is important to find and work with the right factoring company. What does the ‘right factor’ look like? Well, that depends on your needs. As with any other … Continue reading →
  • A Top Rated Factoring Company to Save the Day

    Heather Burford
    23 Sep 2014 | 12:15 pm
    You’ve found yourself in a financial pinch, thoroughly researched your options and have determined that invoice factoring is the option that makes sense for your situation. Now, you are faced with the daunting task of finding the right invoice factoring … Continue reading →
  • Sell Invoices for Cash

    Heather Burford
    17 Sep 2014 | 2:37 pm
    For those looking for an alternative way to fund business operations or expand your business, turning invoices to cash provides a way for companies to sell their open invoices in exchange for the use of immediate cash. The process is … Continue reading →
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    Intuit News Central

  • Hector’s Favorite Features of QuickBooks® Mac 2015

    Hector Garcia
    30 Sep 2014 | 7:48 am
    How familiar are you with QuickBooks for Mac 2015? Many QuickBooks ProAdvisors admit they avoid QuickBooks for Mac and focus, instead, just on QuickBooks Online or Desktop. If you’re one of those people, you may be missing out on some great opportunities to build your practice with Mac users. Here is a recent video I produced that walks you through my favorite features of QuickBooks for Mac 2015. Click on the box below or click here to watch the video. Enjoy! P.S. Be sure to check out the QB PowerHour, an ongoing, webinar series I am presenting, along with fellow ProAdvisor Michelle…
  • Lacerte® & ProSeries® Tax E-News: October 2014

    Scott Cytron
    30 Sep 2014 | 7:26 am
    In Focus: Smarter Uses of Technology 3 Powerful Technology Shortcuts in Lacerte 2014 Learn how to do more in less time – so you can spend more of your resources helping clients and building your business. Darrell Layman, CPA, has done the heavy lifting for you with this insightful article on navigating Lacerte 2014. Learn something new with these innovative shortcuts! Darrell Explains 3 Powerful Technology Shortcuts in ProSeries 2014 Learn how to do more in less time – so you can spend more of your resources helping clients and building your business. MB Raimondi, CPA.CITP, has done the…
  • QuickBooks® Connect Updates: $100K, Sponsors, Magic Johnson & Guiliana Rancic and a Special Offer!

    Scott Cytron
    29 Sep 2014 | 7:32 am
    Are you up to speed on all the benefits in store for you at QuickBooks Connect, Oct. 21-23 in San Jose? At QuickBooks Connect, you will meet the people, see the cloud technology and get the advice you need to run and grow your practice. Here’s a list of the latest updates – click through to see an expanded news release about each update: Intuit Announces $100,000 in Prizes for Winners of QuickBooks Connect Hackathon Intuit Announces Sponsors for Inaugural QuickBooks Connect Intuit Adds Magic Johnson to Jam-Packed QuickBooks Connect Agenda Giuliana Rancic Joins QuickBooks Connect…
  • IRS Update: New Guidance for Forms 8878 and 8879

    Majaliwa Bass
    29 Sep 2014 | 7:03 am
    In March of this year, the IRS issued new guidance regarding how signatures can be accepted for forms 8878 and 8879. This article provides an overview of a few often overlooked requirements for forms 8878 and 8879, as well as a summary of the new guidance. How it Works Forms 8878 and 8879 are declaration documents that are required by the IRS when an electronic return originator (ERO) e-files a tax return on behalf of an individual taxpayer. Form 8878 is used when the ERO files an extension request. Form 8879 is used when the ERO submits the final return. With form 8879, the process is as…
  • October Tax Compliance and Due Dates

    Dorinda DeScherer
    26 Sep 2014 | 6:00 am
    Cooler breezes and fall colors … with all the changes in the air, you need to keep up with key tax compliance and due dates for October. Here are key tax compliance and due dates for October. Intuit Accountants is pleased to offer guidance and information to all tax practitioners. In October, it is recommended that you: Conduct year-end tax planning sessions with individual clients. Remind individual clients to use flexible spending account funds before year end unless plan provides post year-end grace period. File returns for individual clients who obtained automatic six-month…
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    AICPA Insights

  • 5 Steps to Creating a Social Media Strategy

    Guest Blogger
    1 Oct 2014 | 4:00 am
    October is here - the leaves are changing color, there’s a chill in the air and we’re drawing close to the end of another year. At your CPA firm, you’re likely getting ready for performance reviews, preparing for busy season and working on strategic planning for 2015 and beyond. As you put together your marketing plan, be sure to spend some time formulating a social media strategy. This will help determine how often you blog, what social channels you use and whether you invest in social media advertising – all of which will impact how you allocate resources for the coming year.
  • Boost Your Bottom Line with Predictive Analytics

    Guest Blogger
    30 Sep 2014 | 4:00 am
    Wouldn’t life be great if we all had a crystal ball? While wizardry and fantasy may sound like a great way to see the future, no one would actually advise a client or employer on assumptions based in magic and hearsay. Typically, we serve our clients and employers based on fact-based historical reporting, which tells us where we are and where we’ve been. However, there is another way to offer guidance and opinion: predictive analytics, a process-driven activity that combines facts about the past with inferences to anticipate the future. What does this have to with accounting? Plenty. As a…
  • Should You Sign a Business Associate Agreement Under HIPAA?

    Guest Blogger
    29 Sep 2014 | 4:00 am
    Dr. Smith left you a voicemail at 10 p.m. on a Sunday night. You couldn’t make out the entire message due to a weak cellphone signal and background noise, but you gathered he was talking about the Health Insurance Portability and Accountability Act and needing you to sign something called a Business Associate Agreement. Dr. Smith is an excellent dermatologist, but you know from doing his taxes that regulatory compliance isn’t necessarily his forte. So what exactly is a Business Associate Agreement and how do you know whether Dr. Smith is right about it? The Business…
  • Implementing the Future of Learning Recommendations

    Clar Rosso
    26 Sep 2014 | 4:00 am
    In May 2014, the AICPA’s Future of Learning Task Force announced four broad recommendations to positively impact the future of learning for the CPA profession. The recommendations are: Innovate and experiment Ignite a passion for learning Make learning personal Measure what matters These recommendations and insights, as well as other resources related to the initiative, are now available on the new Future of Learning site. If you haven’t yet visited the site, I highly recommend you do so to gain insight into the drivers behind the initiative and its recommendations. Navigating the site…
  • Laying the Final Bricks of the CGMA Foundation

    Arleen Thomas, CPA, CGMA
    24 Sep 2014 | 4:00 am
    At launch in 2012, we promised our members and the global employer market that the Chartered Global Management Accountant designation would recognize and support accounting professionals who know how to connect finance to strategy. Backed by the combined resources and reputations of the AICPA and CIMA, CGMAs would be recognized as finance leaders who see across the entire organization to make better business decisions. In the last few months of 2014 we’ll deliver the fundamental pieces that will help define the profession of management accounting and solidify the CGMA’s position as the…
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    OSYB Number Crunch! Bookkeeping Tips from Outsouce Your Books.

  • Need Liquor Delivered Now? The Startup World’s Got You Covered

    OSYB Staff
    29 Sep 2014 | 10:00 pm
    “We don’t use the word ‘disruption,’” says Rellas, who’s been hobbling between Chicago, New York, and other Drizly markets on a partially torn Achilles tendon. “You don’t disrupt a $200 billion industry owned by 20 families. We want to help all the existing participants make more money.” Order beer delivery on your phone? Read more here. 
  • Digital tip jar coming to a coffee shop near you

    OSYB Staff
    29 Sep 2014 | 10:00 pm
    Tips by Credit card in a coffeeshop? DipJar, a startup based in New York and Boston, has been testing the devices at 20 locations in New York over the last two years. It is now ready to expand into as many as 200 locations after a cash infusion from investors of $420,000. Read more here. 
  • Cutting Wages Is Hard to Do: Why That’s Bad for Unemployment

    OSYB Staff
    28 Sep 2014 | 10:00 pm
    She made passing mention of an idea only an economist could love: “downward nominal wage rigidity.” In plain English, that means it’s hard for any company to cut pay, even in a recession. Economists sometimes call this “wage stickiness.” Depending on your brand of economics, stickiness either makes no sense, or it’s a significant.” Read more here. 
  • Setting Up a New Company in QuickBooks

    OSYB Staff
    28 Sep 2014 | 10:00 pm
    When an owner first installs QuickBooks, they are often overwhelmed by all of the information required to set up a new company.  This is especially true for established companies switching to QuickBooks for the first time. This video will help the new user to get started much easier and faster. Read more here.
  • How Main Street Will Pay for Home Depot’s Data Breach

    OSYB Staff
    27 Sep 2014 | 10:01 pm
    When a credit-card company identifies fraud, it wipes the payment off the cardholder’s account and notifies the merchant. Unless the store can prove the payment was authorized, the credit-card company debits money from a merchant’s checking account, leaving the vendor on the hook for the cost of items that were fraudulently purchased. Read more here. 
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    Common Cents

  • Grow Your Business Like a Boss – Systematic Growth

    Joyce M. Washington, CPA
    19 Sep 2014 | 4:00 am
    Ever look at someone else that’s doing the same thing that you’re doing (business wise) and wonder to yourself how did they get to where they are and how is that you’re still where you are? No?  Just me?  Well then work with me a second and pretend that you’re just like me and you’ve wondered to yourself how you can get out of your own way and get growing in your business “like everybody else”… It’s no secret (or at least it shouldn’t be), that I take a systematic approach to just about everything in life and business.  There’s a method to all the madness and…
  • Don’t Get Caught Up – Tips To Killing Procrastination

    Joyce M. Washington, CPA
    5 Sep 2014 | 4:00 am
    I admit it… I am working on my addiction to procrastination.  Some days, I just want to sit and read a book…especially on a nice breezy, summer day.  Or on a nice snowy, winter day… next to the fire. But that’s not always feasible.  To be successful, we simply have to get stuff done… and that won’t happen if we take too many days off to read books.  :) So how does one get past the humdrums and over the procrastination hump and into the land of getting stuff done?  Here are a few tips… Recognize Your Procrastination First admit to having a procrastination problem, then…
  • 15 Tasks Your Virtual Accounting and Bookkeeping Team Can Do To Save You Time AND Money

    Joyce M. Washington, CPA
    22 Aug 2014 | 4:00 am
    I’m an accountant so I’m all about being frugal, saving time and money WITHOUT cutting corners when it comes to quality. A lot of times when we are making an effort to simplify our lives and build our team… we can’t seem to think of the things that our team member can do.  This can be especially hard when we are so used to doing everything ourselves. This is an issue that I’m working on myself.  How to stop being an entrepreneurial Superwoman.  I think it’s time to retire my cape… and maybe it’s about that time for you too so, here are a few tasks that you can have your…
  • 3 Things You Need To Know When Selecting A Virtual Accountant

    Joyce M. Washington, CPA
    8 Aug 2014 | 4:00 am
    Hiring someone to help you in your business is a big step. Having that person work virtually, is another layer of “caution” or “concern” for most…and an extra layer of “worry”. But it doesn’t have to be. Here are a few things to consider when hiring virtual assistance, more specifically, when hiring a virtual accountant. Bookkeeping Versus Accounting Before we get to the three things… just a little note of differentiation. There is a difference between bookkeeping and accounting.  One is basic recordkeeping and data-entry (bookkeeping).  The other is more analysis and…
  • Numbers To Grow On: The KPIs Every Business Owner Needs To Know

    Joyce M. Washington, CPA
    25 Jul 2014 | 6:00 am
    What are the warning signs in your business? What are the growth indicators? The numbers that show you’re doing well and your business is healthy? Do you know what to look for? There are a tons of key performing indicators, or KPIs, that you could follow but just like vanity metrics in social media and website traffic, etc… there are a few core KPIs that you want to monitor that really give you the insight that you’re looking for. Because at the end of the day, the number that means the most is the bottom line – are you making money in your business or not? Period. Numbers To Grow…
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    C/F/R - Cross, Fernandez & Riley, LLP

  • 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.
  • Managing Your Employees’ Social Media Use On and Off the Clock

    22 Sep 2014 | 11:08 am
    With the pervasiveness of social media, it’s likely that many of your employees are connected to a variety of social media outlets during work and personal time. This leaves business managers with concerns regarding how they should manage their employees’ usage of social media at work, what potential issues could arise from their actions, and how to mitigate their risks.
  • Business Success in Just 5 Easy Steps!

    15 Sep 2014 | 10:13 am
    Personal touches, like sending a follow up thank you note or a small gift via snail mail after a purchase, go a long way toward customer loyalty.
  • Online Customer Reviews Gaining Momentum

    9 Sep 2014 | 11:33 am
    With the popularity of online reviews, most shoppers these days peruse what other shoppers have to say before committing to a purchase.
  • The IoT’s influence on Brand-Consumer Relationships

    2 Sep 2014 | 11:29 am
    As the Internet of Things (IoT) grows and more items are added to the circle of connectivity, the relationship between consumers who use the objects and the brands that manufacture them will invariably change.
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    Presti & Naegele

  • September 2014 Newsletter

    30 Sep 2014 | 8:01 am
    Andy Presti discusses the benefits of fall planning for spring savings. The post September 2014 Newsletter appeared first on Presti & Naegele.
  • Partnerships’ exposure to net investment income tax not always clear cut

    Steve Grgas
    26 Sep 2014 | 6:00 am
    The net investment income (NII) tax under Code Sec. 1411 is imposed on income from investments, certain sales of property, and income from passive activities. NII includes net gains from the sale of property, unless the property is held in a non-passive trade or business. If the property sold is a non-passive interest in a partnership or S corporation, gain from the sale of the interest is NII only to the extent that income from a deemed sale of the entity’s property would be NII. The IRS totally rewrote the regulations for the disposition of interests in a partnership or S corporation,…
  • Employers get first look at health insurance information reporting

    Joseph Romano
    26 Sep 2014 | 5:59 am
    Since passage of the Affordable Care Act, several key requirements for employers have been delayed, including reporting of health coverage offered to employees, known as Code Sec. 6056 reporting. As 2015 nears, and the prospects of further delay appear unlikely, employers and the IRS are preparing for the filing of these new information returns. Three related provisions Three provisions of the Affordable Care Act are closely related: the employer mandate for applicable large employers (ALEs), the Code Sec. 36B premium assistance tax credit and Code Sec. 6056 reporting. To administer the…
  • Fall is the new spring for tax savings

    Andrew Presti
    26 Sep 2014 | 4:26 am
    How planning now can yield big savings next April Unless you happen to be an accountant, you probably don’t like to spend a lot of your time thinking about taxes. Let’s face it. Even CPAs know that there are many things more interesting than tax planning and compliance. Yet while taxes may seem a bit tedious, you may be interested in the possibility of keeping more of your hard earned money. So while taxes may not get your juices flowing, it just might be worth your time to take a little closer look at opportunities to minimize your upcoming tax bill. When is the right time to plan for…
  • September 2014 Compliance Calendar

    Wayne Naegele
    8 Sep 2014 | 4:40 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 September 2014. September 4 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates August 27–29. September 5 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates August 30–September 2. September 10 Employees who work for tips. Employees who received $20 or more in tips during August must…
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    It's Taxing - Bond Beebe

  • 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
  • Hiring your Children in your Business – It’s Not So Taxing

    18 Jun 2014 | 7:30 am
    If you own a business, employing your child can be a great opportunity to teach valuable lessons about earning, saving and hard work. It is also an excellent tax-savings strategy for you and your child. However, before you bring your college kid on your payroll for the summer, there are a number of regulations and savings strategies to keep in mind.
  • Maryland State & County Tax Credit Ruling - Wynne v. Comptroller Update

    10 Jun 2014 | 8:29 am
    The U.S. Supreme Court has agreed to hear the case of Md. Comptroller of Treasury v. Wynne, (U.S., No. 13-485, cert. granted, 5/27/14) on whether a taxpayer’s resident municipality can tax all of a resident's income or if it must provide a credit for taxes that person paid to other states. This case specifically addresses Maryland’s denial of credits against the MD county income tax; full details are available in our previous post on this case.
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    Investment and Small Business Accountants

  • Dysfunctional Behaviours of Budgetary Control Systems

    28 Sep 2014 | 12:59 pm
    Dysfunctional behaviours in budgetary control system are those suboptimal decisions that managers make just to ensure that they meet targets and get their bonus. The essence of budgeting which includes motivation of managers will be defeated if proactive action is not taken at both the design stage and implementation stage of budgetary control system. The […]
  • Automate Accounting but Humanize it| Accountancy Will Lose Human Face if…

    21 Sep 2014 | 3:07 am
    The use of IT in accounting and finance is continuing to grow as business leaders constantly strive for excellence in business processes. And there is always a danger of over doing anything that we do in life. Virtually every accounting and business functions are now automated which is a good thing but are being misinterpreted […]
  • Cost Accounting in the New Era

    19 Sep 2014 | 12:16 pm
    Cost accounting in the new era has completely moved away from the simple act of identifying direct costs, indirect costs and overhead, then using the traditional cost allocation method to allocate the costs. I remember the good old days when cost accounting was all about collecting prime costs and overhead costs, apply some simple arithmetic […]
  • What is Strategic Management Accounting? Meaning and Characteristics

    13 Sep 2014 | 3:24 am
    Strategic management accounting and control is a relatively new paradigm in the field of management accounting. This new perspective of management accounting and control system was made popular as a result of the criticism levelled on the traditional management accounting by both academia and professionals in the late 1980s and early 1990s. The intense competition […]
  • How to Write Effective Business Requirements as an Accountant

    9 Sep 2014 | 12:52 pm
    Nowadays, accountants are called upon by businesses to play significant role in system migration and other major business turnaround programmes.  Business requirements are those deliverables that a project must convey if value is to be added, without it, measuring the success or failure of a project will be difficult. Organizations constantly challenge finance professionals to […]
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    Goldin Peiser & Peiser, LLP

  • Keep the Recruiting Ball Rolling

    29 Sep 2014 | 12:00 pm
    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.
  • Not Complying with HIPAA Rules Could Cost Your Business Millions of Dollars

    25 Sep 2014 | 7:00 am
    A year has past since the HIPAA's Final Rule on Privacy and Security took effect September 23, 2013. As a business owner, you should ask yourself, “Is my company classified by HIPAA as ‘business associate’ (BA) of a ‘covered entity’ (CE) and if so, have I complied with all of the regulations associated with that?” If you answer yes to the first part of the question, and no to the second part, you may be at risk of non-compliance.
  • Managing Your Employees’ Social Media Use On and Off the Clock

    22 Sep 2014 | 12:56 pm
    With the pervasiveness of social media, it’s likely that many of your employees are connected to a variety of social media outlets during work and personal time. This leaves business managers with concerns regarding how they should manage their employees’ usage of social media at work, what potential issues could arise from their actions, and how to mitigate their risks.
  • Business Success in Just 5 Easy Steps!

    15 Sep 2014 | 10:49 am
    Personal touches, like sending a follow up thank you note or a small gift via snail mail after a purchase, go a long way toward customer loyalty.
  • Online Customer Reviews Gaining Momentum

    9 Sep 2014 | 12:09 pm
    With the popularity of online reviews, most shoppers these days peruse what other shoppers have to say before committing to a purchase.
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    Advice for Tax Preparers

  • 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…
  • How to Get an Accounting Job Using LinkedIn

    Bill Meador, CPA, JD
    22 Jul 2014 | 4:52 pm
      This is the big one isn't it? Most of us get plenty of articles in our inbox and social media from sources such as Accounting Today, CPA Trendlines, Going Concern, AccountingWeb, Journal of Accountancy, etc., on the latest updates in the profession. But we are really only looking for a few things. How do I get my first accounting job? How do I make my current job easier? What do I need to do to get promoted? Can I quit and get a better job or move to a better CPA firm?  [click to keep reading...]
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    The Cheap Accountants

  • Tesco’s £250 million accounting black hole

    29 Sep 2014 | 6:33 am
    A Tesco employee highlighted that the supermarket had over-stated the first half profits to the tune of £250 million, the employee first told his superiors of the problem when Philip Clarke was still in charge. There have been serious questions raised over the culture at Tesco during the time of Mr Clarke’s reign, as it emerged that these concerns had been ignored. This has since led to Tesco admitting last week that it had over-stated its first half trading profit by £250 million. Tesco hired Deloitte and Freshfields to investigate the accounting disaster, which is connected to the…
  • Price war between TalkTalk and BT for small business contracts

    25 Sep 2014 | 2:23 am
    TalkTalk has launched a £4 broadband contract for small firms, initiating a war with BT. It is offering cut-price internet to businesses with 20 staff or fewer. Chief executive Dido Harding told the telegraph “We have the spare capacity”. “Our network is built for an 8pm peak, which is when consumers are streaming videos and checking Facebook.” “They use the internet in the evenings so we have all this spare capacity during the day and can offer a quality service.” TalkTalk Business unveiled two new packages for the nation’s small firms. The unlimited broadband package for…
  • Small businesses at the heart of ‘policy-making’

    22 Sep 2014 | 4:53 am
    Ed Miliband has pledged to increase the minimum wage to £8 per hour by 2020. However, job creation could have negative impacts under Labour’s new plans. This proposal by the labour leader has similarities to last year’s vows to make energy companies freeze their bills. CBI deputy director general, Kajta Hall, said the minimum wage is already at the highest rate it can be without putting job creation at risk. The Chairman of The Federation of Small Business National Policy, Mike Cherry, said: “What we’re asking for is for small businesses to be right at the heart of policy-making by…
  • What does Scottish independence mean for small businesses?

    18 Sep 2014 | 3:15 am
    Voting for independence takes place tomorrow but there is uncertainty surrounding the impacts on small businesses. Several of the big businesses including BP, Standard Life, and John Lewis have expressed their favour of the ‘No’ vote. However, it is still unclear what a ‘Yes’ vote would exactly mean for Scottish businesses. A recent poll by the Federation of Small Businesses (FSB) found that two-thirds of businesses believe independence would impact on the day-to-day activities. A survey on the forthcoming referendum also saw around 1 in 5 saying the vote had already played a part…
  • Confidence among small businesses continues to improve

    15 Sep 2014 | 5:14 am
    According to a survey by the Federation of Small Businesses (FSB) confidence among small companies continues to improve. This is despite a number of concerning risks hanging over the economy, including the looming prospect of Scottish independence and the on-going Ukraine-Russia crisis. Its regular quarterly survey showed three-fifths of firms expect to grow in the next 12 months. All sectors reported they had a positive outlook for the seventh quarter in a row. Although the South East was most positive overall, North East England reported the most improved attitude. Small firms also report…
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    Jetpack Workflow » Blog

  • 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.
  • Updated: Due Date Extension Tracking | Currency Options & More

    Jetpack Workflow
    10 Sep 2014 | 5:21 am
    This week we’re excited to release a major update in our due date tracking feature, as well as updates to currency options. + Due Dates will automatically roll over to the Due Date Extension (and you can setup email notifications to get the alert) + Update the currency option under settings to include Euro’s, Pounds,... Read more » The post Updated: Due Date Extension Tracking | Currency Options & More appeared first on Jetpack Workflow.
  • What’s the “Inside Health” Of Your Firm? Find out with our interview with Rita Keller

    Jetpack Workflow
    3 Sep 2014 | 5:59 am
    Rita Keller joined us to discuss her area of expertise… CPA firm management In this episode, we discuss + How to increase employee engagement + Determine the “Inside Health” of your Firm + How to focus and increase team buy in + How to scale your back office + and so much more…   Connect... Read more » The post What’s the “Inside Health” Of Your Firm? Find out with our interview with Rita Keller appeared first on Jetpack Workflow.
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