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  • Art of Accounting: Hot Shot Sales Manager Is Not Such a Hot Shot

    June 27, 2014

    A client decided that to grow her business she needed a top-tier sales manager and recruited someone from a much larger competitor.

  • There Are So Many Things Wrong with the Annual Filing Season Program

    June 27, 2014

    Tax blogger Robert Flach sees many flaws in the IRS's proposed new voluntary program.

  • Never Stop Growing

    June 26, 2014

    Now that school is out (unless you live in a part of the country still making up for lost “snow days”), it’s easy to get caught up in the general euphoria and take a vacation from thoughts of tax preparation for the summer. But now is precisely the time preparers need to keep communication lines open with their clients, according to Chuck McCabe, president of Peoples Income Tax and The Income Tax School.

  • Let’s Revisit Some Basic Business Assumptions

    June 25, 2014

    All too often in the practice of accounting we are predominately attentive to adhering to the concepts and conventions promulgated by the “accounting gods.”

  • The Emotions of Accounting and the World Cup

    June 24, 2014

    Last week, my team was able to achieve the highest of highs and lowest of lows. We celebrated in acquiring a new client that we sought to work with for the past two years. And we booed (or sighed in despair) when a colleague advised the firm that he would be transferring to a company in a different city. We hooted and hollered when the U.S. scored a goal to go up 2-1 on Portugal and we cried (literally for some of us) when Portugal scored in the last 30 seconds to tie the game.

  • 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.

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