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  • Art of Accounting: Referral from an Adversary

    September 26, 2014

    One time I received a call with a referral from another professional that was an adversary in a contentious deal on which I represented a client. I thanked him but expressed surprise since we seemed to always be at each other’s throats.

  • ACA Updates Tax Preparers Should Know About

    September 25, 2014

    The Affordable Care Act and how it will affect the upcoming tax season seems to be clearer, according to Chuck McCabe.

  • Easy or Too EZ: New Rules for Tax Exemptions

    September 24, 2014

    The Internal Revenue Service introduced Form 1023-EZ in July to streamline application for recognition of tax exemptions under Section 501(c)(3) of the Tax Code. However, the agency’s decision to streamline exempt processes has sparked criticism from large charity groups, although some have applauded the agency for introducing this program.

  • IRS Central Withholding Agreements for Foreign Entertainers: Helpful or Hindrance?

    September 23, 2014

    Twenty years ago, a Central Withholding Agreement could easily be negotiated via a phone call and follow-up letter to a designated Internal Revenue Service agent. Today, that’s not the case.

  • Align Marketing and Business Development to Unlock Growth

    September 22, 2014

    Is your firm experiencing double-digit organic growth year after year? If so, you have achieved something that almost every firm in the country would love to emulate. If you answered no, you might be underachieving—and the most important question is why.

  • Tax Extenders: The Slow Boat

    September 21, 2014

    Over the last year, the House and Senate have both proposed bills to renew a number of popular tax breaks for businesses and individuals. These “extenders” include some important changes of which tax preparers and accountants — especially those dealing with the nation’s small and midsized businesses —need to be aware.

  • IRS Extends Deadline to Claim Retirement Loss Deductions for Tangible Property

    September 19, 2014

    The IRS released an advanced copy Thursday of Rev. Proc. 2014-54, which provides guidance on certain changes in method of accounting for dispositions of tangible depreciable property.

  • Art of Accounting: The Background to Saving a Business

    September 19, 2014

    It’s important to get an up-close look at a client’s business in order to save it.

  • CPA Firms Insure Liability for Cybersecurity

    September 18, 2014

    CPAs typically collect and store information about their clients which may open them up to liability if any of the information is compromised, according to Rickard Jorgensen, president of Jorgensen & Company.

  • Understanding How Technology Supports Small Business Success

    September 17, 2014

    Technology offers small businesses the irresistible allure of success through the same tools used by larger companies.

  • Tax Synergies for CPA Clients between Small Taxpayer Safe Harbor and Cost Segregation

    September 16, 2014

    The final tangible property regulations issued by the Internal Revenue Service last year included a new provision for small taxpayers to help alleviate the tedious process and extent of documentation now required for compliance.

  • Overcome Your Fears of Networking

    September 15, 2014

    Networking is one of the simplest tools you can use to maximize your accounting firm’s business opportunities and increase your connections with potential clients.

  • Art of Accounting: To Save a Business, Plan the Details

    September 12, 2014

    In last week’s column, I discussed how I went about saving a client’s business that the IRS was in danger of closing. Now here is the nitty-gritty.

  • IRS Issues Final Regulations for Material Advisors

    September 11, 2014

    If you sold, advised on or had anything to do with a listed transaction, you could be fined by the Internal Revenue Service under recently issued regulations.

  • Hard to Believe, but Financial Reporting Became a Little Simpler

    September 9, 2014

    I’m a CPA, and I’m here to tell you financial reporting became simpler and easier to use in two significant areas.

  • How to Create $100,000 of New Billings in One Hour

    September 8, 2014

    It is a constant battle: CPA vs. marketer, CPAs vs. development of a “sphere of influence,” CPAs vs. the “30-second elevator pitch,” CPAs vs. networking events. And the ultimate three-way battle of CPA vs. billable hour vs. business development.

  • Art of Accounting: Saving a Business

    September 5, 2014

    Saving a business creates one of the greatest highs you can have in accounting.

  • Tax Extenders’ Impact on the Economy

    September 4, 2014

    As we approach the November elections, the end of the year and the beginning of a new tax season, we’re not much clearer on the fate of the provisions that expired at the end of 2013, aka the extenders, that haven’t yet been renewed.

  • Credit Card Companies Change Technology to Fight Fraud

    September 3, 2014

    For half a century, U.S. consumers have been accustomed to swiping and signing when making credit card purchases. But soon the magnetic stripe will go the way of Pan Am airlines and Bear Stearns.

  • Why Your Firm Doesn’t Change

    September 2, 2014

    You and two of your colleagues are returning from the firm’s annual partner retreat. You thought there were good discussions and everyone agreed on a few decisions that will really move the firm forward. You ask the others in your car what they thought. One speaks up.

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