Practice Management

Accounting firm Weaver and Tidwell reported that its net revenues for the 2008 fiscal year ending May 31 reached $51 million, a 28 percent increase over the previous fiscal year.

Illinois accounting firms Sikich LLP and Millikin Benning Kleckler & Kobischka have combined forces.

Accounting firm Reznick Group has partnered with Palladium Pacific on a service to provide help to real estate lenders, investors, builders and developers with their troubled real estate assets.

The AICPA 2008 Succession Survey, as you would expect, has a great deal of information about the current state of succession at multi-owner firms and recommended best practices for those firms. What will come as a surprise to some is there is an equivalent amount of information, observation of trends, and recommended best practices for the sole practitioner.

Since most observers consider the tax prep market to be in a maturing mode, it’s important for software makers to offer their products for tryouts, early renewals and promotional pricing during the season when their customers have the time to experiment.And that time, of course, is now.

In a high-profile consolidation in the not-for-profit software arena, NFP vendor Blackbaud struck a deal to acquire struggling rival Kintera for roughly $46 million in cash, or $1.12 per share.The deal, which Blackbaud plans to finance with cash and its credit facility, was expected to close July 2.

2009 HSA LIMITS RELEASEDWashington, D.C. — The Internal Revenue Service has published the 2009 inflation-adjusted deduction limits for health savings accounts.

So far, 2008 has not been a year for major tax legislation.Nor, being an election year, are the remaining six months likely to offer major legislation. Two bills that did make it through Congress prior to Memorial Day included tax provisions focused on farmers and alternative energy and on military personnel and veterans. The farm legislation required the override of a presidential veto and included a procedural snafu where one of the non-tax titles of the legislation was not forwarded to President Bush along with the rest of the legislation. Barring any litigation over that issue, the enactment date of the legislation is May 22, 2008.

Profitability and being client-focused go hand in hand. Intellectually, all accountants believe this, but they have a hard time identifying specific actions they can take to maximize both profitability and client service. Over the years, I’ve observed specific client-focused activities that correlate to firm profitability.Here are 12 specific things you can do:

Accounting firm Weaver and Tidwell has introduced a financial services niche practice aimed at investment companies, including hedge funds and private equity firms.