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Inside Views

  • Tax Proposals Sketchy in State of the Union

    January 29, 2014

    While President Obama mentioned taxes a number of times in his State of the Union speech last night, the details were scant.

  • Art of Accounting: Blown Covenants

    January 28, 2014

    One time, one of my clients had a very large equipment term loan from a bank and was in danger of being put out of business because the company had blown an essential loan covenant.

  • Best Practices for Admitting New Partners

    January 27, 2014

    As we work through the succession and retirement of senior partners in our firms, a lot of us are also reviewing and updating our internal documents and agreements.

  • Joint Return or Married Filing Separate: It’s Not Your Choice to Make

    January 24, 2014

    Here is a one-question multiple choice quiz for all return preparers.

  • Audit Targets

    January 23, 2014

    While many taxpayers look forward to filing season as the time they can get “free money” in the form of their tax refund, those with more complex returns are focused as well on avoiding situations that might lead to an audit.

  • Art of Accounting: In a Time Long Ago

    January 23, 2014

    Many of my stories occurred many years ago—some are from a half century ago—so the question is, are they still relevant and why am I telling them now?

  • Is Your Marketing Strategic?

    January 22, 2014

    For many accountants, whether they're sole proprietors or managing partners at top 100 firms, managing the marketing efforts of their firm seems like a tricky proposition.

  • It’s Accountability, Stupid!

    January 21, 2014

    In discussing strategy and driving forces for the CPA firm, the word “accountability” comes up several times, and it occurred to me that most partners and managers might not understand the difference between responsibility and accountability.

  • Top 3 Regulatory Issues Accountants Should Monitor This Year for Small Business Clients

    January 20, 2014

    Keeping an eye on all of the legislative and regulatory changes that occur throughout the course of the year is no easy task.

  • Rapid Rise in Sales of Small Businesses

    January 17, 2014

    One of the indicators of a reviving economy—purchases and sales of small businesses—is picking up steam. According to the just released BizBuySell Insight Report, the number of business exits by small business owners was up 49 percent in 2013 compared to 2012.

  • Art of Accounting: Now You Are Starting to Work!

    January 16, 2014

    One summer I worked for my father at one of his large clients. It was a hot July day and I was wearing a suit and tie and there was no air conditioning in the office, just a fan that wasn’t one of the most expensive you could buy.

  • It's Time to Step Up

    January 15, 2014

    Ready or not, a new year is upon us. So, how did you do in 2013? Were you successful in your career? Your personal life? Or professional development?

  • Multitasking and Other Lies about Productivity

    January 14, 2014

    As the holidays recede in the rear-view mirror, many CPAs begin to observe a worrisome trend. The stack of paperwork on the corner of the desk, the number of emails in the inbox, and the items on the to-do list begin to expand as if by magic. It is a sign that the busy season is upon us, yet again.

  • New Year, New Resolutions

    January 13, 2014

    Around the New Year, people often start to wonder what resolutions they should make, in an attempt to make this year better than the last.

  • The Intersection of Taxes and Economics

    January 10, 2014

    There are already numerous studies attempting to peg the effect of tax rates on economic activity. There will undoubtedly be more, as politicians, economists and tax experts seek the magic formula to maximize both economic activity and government revenue.

  • Best Practices for Setting Reasonable Compensation for Small Business Owners

    January 9, 2014

    Small businesses, generally those organized as S corporations or partnerships, can run afoul of IRS guidelines governing “reasonable compensation” for individuals who are both owners/shareholders and employees of these companies.

  • Art of Accounting: Not Such a Lateral Move

    January 8, 2014

    Many years ago my boss, Bernard D. Kleinman, had a client that was a creative genius in the advertising industry, and was being courted by many other firms. He liked his job, position and respect and had no desire or thoughts of leaving. But, as a gentleman, he listened to whoever approached him.

  • The Three Fundamentals You Need to Succeed

    January 7, 2014

    After watching a weekend of football, it is obvious how important the fundamentals are to success. The teams that rely on the big play are inconsistent. Basic blocking and tackling aren’t that interesting, but without them, they will prevent teams from winning. The same is true with your performance as a professional accountant.

  • It’s the Services, Stupid!

    January 6, 2014

    From my observation there appears to be a major vision problem with CPA firms: no formal strategic plan for growth other than mergers and acquisitions.

  • No Additional Tax on Early IRA Distribution

    January 2, 2014

    An additional tax of 10 percent is charged on premature withdrawals from a qualified retirement plan, SIMPLE plan or IRA. The additional tax is 10 percent of amounts withdrawn that are includible in gross income. The rules and exceptions are intricate enough that they don’t need to be complicated by things like fraudulent withdrawals by a soon-to-be former spouse. But that’s what happened to Andrew Roberts, whose wife withdrew funds from his IRAs without his knowledge.

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Deloitte’s Efforts at Greater Diversity and Inclusion

April 23, 2014

Deloitte vice chairman and chief inclusion officer Deb DeHaas discusses the firm's efforts at recruiting a more diverse workforce.

Trends in the Accounting Profession

April 18, 2014

Jim Metzler, former AICPA vice president of small firm interests, and founder of Metzler Advisory Group, talks about how the CPA profession is changing.

Lessons in M&A: Client and Staff Retention

April 14, 2014

Transition Advisors president Joel Sinkin talks about what firms should do after a merger to retain their clients and staff members.



More Taxpayer Misconceptions

April 21, 2014

Apparently, there’s no end to the ridiculous things taxpayers believe.

Dumbest Employee Excuses for Being Late

March 31, 2014

Running a little late could have big repercussions, especially at a firm in the midst of busy season. From escaped zebras to must-see TV, employers told CareerBuilder some of the most memorable excuses they've heard from tardy employees.

Common Taxpayer Misconceptions

March 19, 2014

The NAEA’s collection of ridiculous things tax clients believe.

The 10 Fastest-Growing Firms in the U.S.

March 10, 2014

The firms with the highest 2013 revenue growth in our Top 100 Firms/Regional Leaders list.

Top 10 Tech Trends for 2014

March 3, 2014

As companies gain more affordable access to new technology and platforms, they also seek to make smarter investments.