Accounting Today

Inside Views

• Hiring or Outsourcing Your Accounting Firm’s Marketing

  April 15, 2013

  You’ve got enough work to keep a marketer busy full-time and you can afford to hire one, but what’s the best option: hire somebody in-house or work with an outside firm?

• Get Clients to Stay in Touch After Tax Day

  April 11, 2013

  As tax season winds down, it may be hard to think about work beyond the imminent and deserved time off, but there are points you can raise with clients to keep them coming to you for the rest of the year, too.

• Simplified Cash Method Keeps Taxes Simple

  April 11, 2013

  Owning your own business is about doing the one thing you love to do, and 99 other things you dislike but must do, according to Roger Harris, president and chief operating officer of Padgett Business Services.

• Europe Moves toward Audit Firm Overhaul

  April 10, 2013

  The European Union has been considering an overhaul of the audit profession that could have a far-reaching impact on the Big Four.

• More than “Just the Facts”

  April 9, 2013

  Choosing my new running shoes was easy. Why? Helpful online insight, way beyond catalog details of size and price, guided me to the best decision. It showed the colors available, side-by-side price comparisons and helpful reviews from others— the perfect combination of status, context and impact.

• The Forensic Accountant’s Role in Litigation

  April 8, 2013

  For many attorneys, retaining the services of forensic accountants has become an integral part of resolving their clients’ legal disputes, either before or during litigation.

• Small Business Sales on the Rise

  April 5, 2013

  Signs seem to be mixed these days on how well we're doing in the wake of the economic turmoil that has afflicted us. But in addition to the stock market and slight rise in employment, there's good news in the marketplace for sales of small businesses.

• 15 Reasons for Obtaining an Extension

  April 4, 2013

  Those that know me, know that I do not like extensions. However, there are valid reasons for extensions, and here are 15 of them:

• 5 Keys to Uncovering Midyear Client Opportunities

  April 4, 2013

  Spring is a time of optimism, so it’s a great time for accounting firms to look for fresh opportunities to grow the business. Here are five ways accounting firms can “fertilize” their existing efforts in order to jumpstart their business and grow deeper, stronger roots with clients.

• Specialization: The Ultimate Marketing Platform

  April 2, 2013

  When you need something done right -- whether it’s legal, medical or even automotive -- everyone knows that a specialist is better than a generalist.

• It’s Never Too Late to Advertise – Part II

  April 1, 2013

  Preparers share more of their favorite promotional tips

• Supreme Court Declines Review of Union Carbide R&D Tax Credit Case

  March 31, 2013

  The widely followed R&D Tax Credit case involving Union Carbide Corporation and the cost of supplies used during production has finally come to an end. On March 18, the Supreme Court denied review of the Second Circuit Court of Appeals decision, which had affirmed the earlier Tax Court ruling.

• FASB’s Current Expected Credit Losses Model and Its Future Impact

  March 26, 2013

  Responding to concerns about their allowance model and in an attempt to simplify impairment guidance for financial institutions, the Financial Accounting Standards Board has issued several exposure drafts of proposed models to take into account “expected losses” rather than the current “incurred loss” model.

• IRS Tackles Four-Time Super Bowl Champion for a $5 Million Loss

  March 25, 2013

  Back in 1925, a taxpayer won the first case in the Board of Tax Appeals involving the deduction for horse-breeding activity expenses. Deducting expenses related to the “sport of kings” was so attractive that the estate of Cornelius Vanderbilt tried, and lost, two years later. In the intervening 88 years, about 200 taxpayers have litigated the issue, most with unattractive results. The IRS and the courts have essentially told taxpayers to “stop horsing around.”

• Fixing America’s Trade Deficit through Tax Policy

  March 22, 2013

  The United States is now facing two deficits—a government budget deficit and a balance of trade deficit. These two deficits, together, will ultimately put the future of the United States in peril unless the government and its citizens take strong action.

• Trust, but Verify Your Estate Tax Planning

  March 20, 2013

  In the world of trust and estate administration, where tax planning typically involves special attention to federal tax law compliance, it’s easy to lose focus on state income taxation issues. And while some states do not tax income related to trusts, states that do tax trust income have a variety of rules and criteria for which trusts are subject to tax.

• IRS Update: Challenging Times To Be Sure

  March 19, 2013

  Former IRS Commissioner Mark Everson takes a look at current state of the service -- and its future

• It’s Never Too Late to Advertise

  March 18, 2013

  Part I: Preparers share their favorite tips for promoting themselves during tax season

• Why Taxpayers Love Their Accountants

  March 15, 2013

  More than four out of 10 working Americans will have had an accountant prepare their taxes this year, primarily because they believe that that's the way to get the largest refund. More than half won't do their own taxes, instead going to an accountant, friend or family member.

• Accounting Firm M&A Makes a Comeback

  March 14, 2013

  The American Institute of CPAs’ Private Companies Practice Section released the results of its 2012 PCPS Succession Survey not long ago, and it provides us with data from nearly 1,000 firms across the U.S. on how they are dealing (or not) with succession.