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  • 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.

  • Art of Accounting: Start with the Cash

    August 29, 2014

    One time I was asked to audit a hotel in Florida that was going to be foreclosed on by the mortgagor and for which I was paid in advance. The audit was planned and scheduled, and it looked like we had everything under control from our end as much as we could.

  • Don’t Believe the Myths about the R&D Tax Credit

    August 28, 2014

    While both houses of Congress have addressed the passage of tax extender legislation, it is unlikely that anything will come of their efforts until after the midterm elections. One of the expired provisions that haven’t yet been extended is the R&D, or research, credit. If any provisions do get extended, this is one that will be in whatever package makes it to the President’s desk for his signature.

  • What You Need to Know about the New SEC Municipal Advisor Rule

    August 27, 2014

    Nonprofit and for-profit corporations that borrow through the issuance of taxable or tax exempt municipal debt have a new rule about who can give them financial advice.

  • Being a Thought Leader Helps Your Accounting Firm Recruit and Retain Staff

    August 26, 2014

    Finding and retaining quality staff is a top issue for accounting firms of many sizes.

  • Leadership Management: Strategic Planning for the Boom and the Doom

    August 25, 2014

    A recent call on a CPA client firm in the Midwest led to this exchange with the managing partner of the firm: “Greg….we just don’t have time to plan strategically, primarily because our clients are starting to feel the start of the boom and we are running like crazy to keep up with them.”

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