Practice Management

Sage North America has released version 1.2 of Sage MAS 90 and 200 Extended Enterprise Suite, adding extra customer relationship management and fixed asset management features.

Kellogg & Andelson Accountancy Corp. has acquired Irwin Pomerantz & Associates, a firm based in Beverly Hills, Calif.

During his Fiscal Responsibility Summit on Monday, President Barack Obama discussed the possibility of lowering the statutory corporate tax rate while also closing tax loopholes that allow companies to reduce taxes.

This past year has produced an unprecedented amount of new tax legislation and regulations affecting preparers and taxpayers.

Following President Obama’s first formal address to Congress where he called for a rebuilding of America, members of the profession as well as GOP lawmakers offered mixed reactions to his budget priorities as well as the stimulus package.

IRS REVISES 529 PLAN RULESWashington, D.C. - The Internal Revenue Service has given Section 529 college savings plans the ability to change their investment strategies more frequently in response to the financial crisis.

When every dollar counts a bit more dearly, a greater number of taxpayers are taking a closer look at ways to improve cash flow. Increasing (or at least accelerating) tax refunds for past years while lowering estimated tax and withholding payments for this year are two areas of growing interest.On the refund side of the ledger, a variety of elections and decisions still to be made on 2008 returns can affect the size of a refund, either of 2008 tax payments or of prior years' under loss-carryback rules. Accelerating refunds, whether or not they are already set in stone, also can improve a taxpayer's immediate cash flow.

An economic triple threat - the collapse of equity markets, declining top-line revenue, and stingy banks - makes it a risky time to be in business or investing, and equally risky to be a CPA.All businesses are being squeezed hard. This creates pressure to cut corners or ignore the facts. Human nature being what it is, you must be extra-vigilant. CPAs are also expected by clients - and juries - to "advise and warn" clients who are teetering on the brink of losing their credit and their footing in business. If CPAs don't, a possible lawsuit could easily follow.

You're reading Accounting Today - but you could be reading Accounting Tomorrow.We've launched www.accountingtomorrow.com to keep tabs on intergenerational issues that are popping up in firms today. Targeted at younger CPAs and the Baby Boomers who love (to hate) them, Accounting Tomorrow covers topics such as work/life balance, succession planning, recruiting and retention, diversity, and green initiatives, all with a cross-generational twist.

President Barack Obama is expected to release his budget proposal this week, and he reportedly plans to include tax increases to close the deficit.