To GAAP or not to GAAP, that is the OCBOA question.(other
comprehensive basis of accounting)(generally accepted accounting
princ
A growing number of small accounting firms service private company
clients issuing financial statements on the "other comprehensive
basis of accounting" (OCBOA) rather than "generally . . .
The right thing: making charitable contributions.
The rewards of giving to charity are many. For starters, clients
control when and how to reduce a tax bill and effectively reduce the
actual cost of the gift. Cash donations, as long as the actual . . .
The Italian job.(Nicholas "Nick" Florio speaks about
his client Mario Batali)(Cover Story)
His client, arguably, is one of the best chefs in New York City,
co-owns five of the city's top Italian restaurants and is a
superstar on the Food Network with--not one--two cooking shows.
. . .
How to determine cost and benefits of new technology.
Strangely enough, accountants really are no better than their
clients at performing the cost/benefit analysis of implementing new
technology. Here's where to start.
The cost side of the analysis . . .
Court ruling protects IRAs in bankruptcy.(Individual retirement
accounts)
Thirteen years ago the U.S. Supreme Court confirmed benefits held
in qualified retirement plans are protected from creditors in case of
bankruptcy (Patterson v. Shumate, S.Ct., 504 U.S. 753 . . .
Tax research issue for practitioners ... by
practitioners.(Column)
Let's say one of your high-wealth clients walks in tomorrow
excited about finding the baseball card of his dreams. "I've
wanted it for more years than I can remember," he says.
[ILLUSTRATION . . .
Sage Software announces broad-based payroll
services.(INTHENEWS)
At Insights 2005, its third annual business partner conference,
Sage Software (formerly Best Software) announced it is expanding its
Sage Payroll Services offerings into mid-market companies. The . . .
Founder shaped TaxWorks from hobby.(Wayne L. Bates dies)(Brief
Article)(Obituary)
TaxWorks regretfully announces the death of company founder,
President and CEO, Wayne L. Bates, who passed away Monday, April 25th,
2005, after a courageous battle with cancer.
[ILLUSTRATION . . .
How to process words without taxing yourself: an
accountant's guide to keystroke-saving shortcuts.(TIPS &
TRICKS)
When you drive to work in the morning, you know all the shortcuts,
right? Well, wouldn't it make sense in a world where we will pay a
premium to save time--e.g. $1.25 for cell phone directory . . .
Make sure your tax research library is up to date.
A minimal research library is essential to a smooth tax season and
to being able to serve your clients with confidence and efficiency. If
you can't find an answer, by all means call NSA's tax . . .
Managing e-mail more effectively.(electronic mails)
The key to managing e-mail is determining when to keep hard copy
and when to keep electronic copy. In some situations, keeping both may
be practical.
[ILLUSTRATION OMITTED]
5 Tips for Sending . . .
Communicating tax research.
Accountants often must document and communicate their tax research.
Careful documentation and clear written communication are important
since tax planning ideas or IRS audits can cause prior tax . . .
What more can you do?
So you passed the CPA exam and maybe the EA test, too! You have a
thriving practice but there is one client you have been unable to help.
The IRS doesn't want to listen to your reasoning or review . . .
Unexpected results: AMT and more.(alternative minimum
tax)
The following scenarios expose some profound inequities imposed by
the AMT and other provisions of the 2003 tax law inflicted on
unsuspecting middle-class taxpayers.
[ILLUSTRATION OMITTED]
. . .
Utilizing tax havens in income tax, estate and asset protection
planning.(tax planning, United States tax policy)
Tax planning with "tax havens" is not unlike other
planning scenarios. Objectives or goals are defined, information is
gathered, alternatives are researched, and a decision is made based on
the . . .
Comparing these programs: pros and cons.(Troubleshooting
Quickbooks & Peachtree, SBA Services, Inc)(QuickBooks or Peachtree,
usa
Q. Which Program is Better--QuickBooks or Peachtree?
A. It all depends on what you're looking for, the type of
business you have and what your accountants prefer. They are both
excellent . . .
A clearer and closer look at the Section 121 exclusion.(taxation
of real estate industry)
With the current and rapid rise of real estate values, the Section
121 exclusion on the sale of a principal residence should be examined
closely. Under Section 121, gain on the disposition of a . . .
Exploring options in forensic accounting.(Today's Accounting
Manager, forensic accountants)
Forensic accounting, which has always been part of the accounting
landscape, recently moved into the spotlight in the wake of news-making
corporate financial scandals. Professionals skilled in . . .
Overseas trip? Be sure it's insured.(More than Money, travel
insurance)
If you're one of those "last-minute" people who
leave things until the pressure is on and then produce furiously to slip
in right at deadline with a sense of great exhilaration, I'm here
to tell . . .
Legislation and our profession.(View from the Pinnacle,
accounting legislations)
While traveling about to various National Society of Accountants
events, I have been admiring the view from a 37,000 foot altitude. At
such heights, everything becomes blurred and commingled into . . .
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