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Inside Views

  • 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.

  • Play Matters — How Are You Playing?

    May 28, 2014

    If your accounting practice focuses around tax and consulting work, one of our biggest deadlines is past and we have a couple of months to gear up for the rush of September and October 15.

  • Art of Accounting: Secret Five-Year Plan

    May 23, 2014

    Planning is a trait of most accountants including me. Maybe that is one reason we become accountants. I always seemed to write out plans—for myself, partners, staff and sometimes personal activities.

  • Enhanced Section 179 Amounts for Fiscal Year Entities

    May 22, 2014

    Enhanced Section 179 expensing allowances, along with dozens of other “temporary” tax provisions, expired at the end of last year.

  • Detoxify Your Work Environment with Authentic Appreciation

    May 21, 2014

    Keeping your staff happy and feeling appreciated is one of the primary challenges facing accounting managers today.

  • GAAP Hinders Profitability

    May 19, 2014

    The formula for profitability has been established for ages. Every business owner, CEO, freelancer and entrepreneur knows it. It is even supported—scratch that, mandated—by GAAP, which is enforced by the SEC in the United States.

  • Art of Accounting: Understanding the Dynamics of a Situation

    May 16, 2014

    A client wanted to buy a business in Birmingham, Ala., and I went there with the company’s CFO to review the books, do some due diligence, kick the tires and negotiate a deal.

  • Educating Clients on the ACA

    May 15, 2014

    The summer months are typically the time that CPAs fall out of touch with their clients. Some may send out or email one or two newsletters, but most taxpayers and preparers have thoughts that are far from next year’s taxes.

  • Tax Benefits of REITs in Private Investment Funds

    May 14, 2014

    Real estate investment trusts were originally created to permit tax-efficient public investment in real estate, but REITs have also found wide use as private vehicles.

  • Recognizing the Value of Next-Generation Cost Segregation Studies

    May 13, 2014

    For the first time in 15 years, cost segregation services have made Accounting Today’s list of Top Niche services for increasing business, putting engineering studies at the top of the charts in terms of important consulting services for 2014. So what’s driving this sudden attention and popularity?

  • Leadership Management: Collaborative Failure in Growth

    May 12, 2014

    “Failure” is a word that has a definite negative connotation in the vocabulary of a managing partner or CEO, but in the new concept of leadership management a collaborative failure should not be observed as a bad occurrence.

  • Art of Accounting: My Job History

    May 9, 2014

    If you have been reading these Art of Accounting articles, you probably know some of my early work history, but I will reiterate it here and complete it.

  • How to Discourage Your Accounting Clients from Price-Shopping

    May 8, 2014

    Do clients ever tell you they’ve priced-shopped your services? Do they ever leave with no explanation, maybe because they were price focused? Or are you worried you’ll have to lower your prices or continue to forego increases in order to retain good customers?

  • FBAR Filing Date Approaching

    May 7, 2014

    There are a number of due dates that don’t apply to all taxpayers, but are easily missed when they do apply and will subject the taxpayer to harsh penalties if they overlook them.

  • Five Behaviors CPAs Could Learn from PGA Golfers

    May 6, 2014

    Spring is here, tax season is over, the sun is out, it is time to get out on the course and hit the little white ball into the hole 400 yards away.

  • Stop Consolidating Financial Statements in a Spreadsheet

    May 5, 2014

    Ever since the earliest spreadsheet software, people have been relinquishing many tasks and responsibilities to this ubiquitous tool, and for good reason: spreadsheets are easy to set up, perform all but the most complex functions, and are available everywhere.

  • Art of Accounting: Employees Have Better Memories than Bosses

    May 2, 2014

    I was lucky to get my second job in accounting, but I received a salary that was $5 lower than my first job (which I had been fired from), so I took the job.

  • Corporate Tax Reduction to be Paid for by Smaller Companies

    May 1, 2014

    Despite delays in expected tax reform, companies are engaging, modeling and planning in order to manage uncertainty, according to survey findings released at Ernst & Young LLP’s Ninth Annual Domestic Tax Conference in New York.

  • Before You Book That Post-Tax Season Trip to Aruba

    April 30, 2014

    Congratulations! You have made it through another beast of a busy season. You have cajoled clients and staff, put in long hours, and are beginning to forget what your family and friends look like.

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