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Inside Views

  • Making Yourself Indispensable: How to Be a Promotable Accounting Employee

    June 23, 2014

    In American corporate culture today, you can expect that many employees in any field hope to become part of upper management one day.

  • Art of Accounting: Am I Happy?

    June 20, 2014

    My father was dying—too young and too soon. He succumbed over a nine-month period to coronary heart disease. Today his life could have been extended, but not in 1976.

  • The Good, the Bad, and the Ugly of the IRS's New Offshore Disclosure Rules

    June 19, 2014

    Several due dates for those with offshore accounts are approaching, with far-reaching consequences for those who don’t comply.

  • Supreme Court Just Made Fighting IRS Even Harder

    June 19, 2014

    Supreme Court overturns an appeals court opinion that would have allowed taxpayers to examine the IRS agents who summon them to find out if they have improper motives.

  • SEC and DOJ Actions May Lead to Reduction in Fraud and Improvements in Auditing Practices

    June 18, 2014

    It is widely acknowledged that fraud, including fraudulent financial reporting and other improprieties targeted against businesses, has become epidemic.

  • Grow Your Accounting Firm by Shrinking Your Focus

    June 17, 2014

    Did you know you can expand your accounting firm’s business by narrowing its focus?

  • Celebrating Small Business Success

    June 16, 2014

    Small businesses are the lifeblood of the U.S. economy and a big reason why millions of Americans have jobs and successful careers.

  • A Sterling Conversion

    June 12, 2014

    You probably know more about Donald Sterling and his mistresses, his infamous recording, and the proposed forced sale of his team, the Los Angeles Clippers, than you want to know. Nevertheless, as tax professionals we should be aware of the tax opportunities and issues for the Sterlings as sellers, if only to make conversation at the next tax-themed gathering we attend.

  • What Your Firm’s Leadership Says about Your Firm’s Future

    June 11, 2014

    I recently attended a mixer for bankers, attorneys and CPAs in my area and I ran into a manager from a competing CPA firm.

  • Has Your Firm Reached the Tipping Point?

    June 10, 2014

    If your firm is like most, there is no shortage of work to go around. But if the workload seems to never end, why aren’t your engagements as profitable as you’d like?

  • Why a Partnership Loss May Not be Deductible

    June 9, 2014

    When an individual receives a Schedule K-1 from a partnership reflecting a loss, there are several things to consider before deciding if the loss can be deducted. In order to determine deductibility, a partner's basis and at risk limitations need to be evaluated.

  • Teaching Tax Pros to Hunt in the Wealth Management World

    June 6, 2014

    One of the key hurdles that advisors encounter in considering the transition to offering integrated wealth management services is the fundamental gap between the marketing model employed by traditional financial advisors and the practices that tax advisors are familiar with from the accounting world.

  • Art of Accounting: You Must Push the Pencil

    June 6, 2014

    Tax rules continuously change, but the specific tax matter here is not what’s important. What is important is the process.

  • How Tax Preparers Can Make Money Year-Round

    June 5, 2014

    Beyond opening a lemonade stand, many tax preparers who haven’t yet grown their business into a full-service accounting practice are used to seeing their income dry up during the hot summer months.

  • Leadership Management: A New Paradigm for Growing Your Team

    June 5, 2014

    Through the years there have always been subtle changes for managing partners and CEOs, and their reporting partners and managers, in the functions and activities of managing the firm or company.

  • Research Tax Credit Just Became Simpler

    June 4, 2014

    The Treasury Department and the Internal Revenue Service released two regulations Tuesday, one temporary and one proposed, that revise research tax credit election rules and make it simpler for taxpayers to take advantage of the tax benefit offered by the credit.

  • Why Should Accountants Specialize?

    June 3, 2014

    Many accounting firms believe that in order to generate as much business as possible, they must be generalists.

  • Did Your Clients Ask The Right Questions?

    June 2, 2014

    From expenses and timesheets to estimates and invoices, it can be overwhelming for clients to condense an entire year of business into one single meeting with their accountant.

  • Art of Accounting: My Boss Hated the Client

    May 30, 2014

    Early on my boss took me to a client that I was to work on. He started to explain what needed to be done and what the client did, but then he said, “I hate this client—everything is always messed up and nothing ever makes sense.”

  • Pro Tax Preparer Versus DIY Software

    May 29, 2014

    For tax preparers who were somewhat dismayed by the recent IRS statistics indicating a slight drop-off in the number of taxpayers who were using a professional to prepare their taxes as opposed to do-it-yourself tax software, take heart.

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