Practice Management

Moore Stephens Wurth Frazer and Torbet LLP plans to merge with Frost PLLC at the beginning of next year.

In a move designed to bolster its global transaction tax offerings, Thomson Reuters Tax & Accounting has agreed to acquire San Ramon, Calif.-based Sabrix, a provider of tax transaction software, for an undisclosed amount.

Rainmaking skills are almost as important as technical proficiency. The ability to bring in business is a key skill that many firms need. There are far fewer accounting professionals capable of doing this than one would think. So as new graduates enter the profession, it is absolutely critical to contemplate how to develop these "soft skills," in addition to other accounting skills.

Limited liability companies continue to grow in popularity as a choice of business entity. The combination of limited liability, pass-through tax treatment if partnership treatment is elected, ability of members to be actively involved in the management of the business, and lack of many of the restrictions imposed on S corporations have made it a very attractive form of entity.

CHINA

CALIF. ADOPTS 150-HOUR RULE

Everybody knows that after you build a Web site, you must drive traffic to it in the form of clients, prospects and referral sources. Without traffic, nothing is possible. It

MANUAL REFUNDS ERROR-PRONE

The conversion to International Financial Reporting Standards, coupled with the movement towards fair value accounting and Congress' need for revenue, could result in the repeal of the last-in/first-out, or LIFO, method of inventory accounting.

WASHINGTON, D.C.-About a quarter of all sole-proprietor businesses report losses on their tax returns, but many are doing so by understating their income or overstating their expenses, leading to billions of dollars in lost tax revenue, according to a new government report.