Do You Know Where Your Virtual Assets Are? As accountants in practice, it is important to counsel our clients on being responsible; for example, insuring they have a will. We suggest that they store valuable documents in a secure location, such as a safe deposit box. Yet the rules have changed! So many transactions are now conveyed electronically. How do you receive utility bills, credit card statements, and broker statements today? If you are like me, and millions of others who live in the digital world, you most likely receive them via electronic statements. Now, where are all these electronic documents stored and how are they maintained? Running a Firm | Robert H. Spencer, PhD | Monday, 8 February 2010 |
Review: Workpaper Software Standard Tools in Unusual Times It's amazing how quickly technology can change the way that we work. Old manual methods of working are replaced by new automated processes. And just as my 10-year-old children don't know what a 33-1/3 record is - or what they would do with one - the day is fast approaching when an accountant entering a new job will not recognize... Reviews | Wayne Schulz | Tuesday, 2 February 2010 |
CES Tidbits; 3D, Docupen and Lexmark Printer To 3D or Not 3D? The hot topic at this month's Consumer Electronics Show in Las Vegas was the coming oversupply of 3D televisions. This technology is moving from the movie theater into the home. There is not a lot of 3D content today so these screens will also show 2D, HD, Blu-Ray. For 3D, special viewing glasses are required.... Tech Tips | Richard Oppenheim CPA | Wednesday, 27 January 2010 |
M&P and RSM McGladrey Agree to Net Income Split RSM McGladrey, a subsidiary of H&R Block, and McGladrey & Pullen, have agreed to a split the net income from the RSM operations with the Block unit getting two third and M&P one third of the bottom line. The parties, which renewed their relationship in December, have also agreed to change compensation arrangements, which were not spelled out. News | Bob Scott | Monday, 8 February 2010 |
The Santa Barbara Fire Sale: How the Golden RAL Goose Died Pacific Capital Bancorp CEO George Leis said the fact his company would receive about $10 million in proceeds from the sale of its refund loan and refund transfer business was disappointing. That was a major understatement because the forced sale of the tax business of the company's subsidiary, Santa Barbara Bank and Trust resulted in its disposing of a unit that had produced just under $132 million in net interest income over the last two years. News | Bob Scott | Wednesday, 3 February 2010 |
NetSuite Inks CPA Firm for ImplementationsNetSuite, which markets Internet-based applications, has signed Hein & Associates, a Denver-based CPA firm, to offer implementation services for NetSuite's customers in a number of vertical markets. The San Mateo, Calif.-based vendor indicated it may recruit other third parties, including more accounting firms, to implement NetSuite products in other specialized areas. News | Bob Scott | Tuesday, 2 February 2010 |
ADP to Start Hiring Sales PeopleAlthough revenue barely budged for Automatic Data Processing in the second quarter ended December 31, the payroll services company plans to hire 300 to 400 people during fiscal 2010, accelerating hiring that it had planned for 2011. While enterprise business is still not doing well, the company sees growth in sales to its small business customers, according to CEO Gary Butler. News | Bob Scott | Tuesday, 2 February 2010 |
Block and Yodlee Working on Tax Application Tax chain H&R Block has teamed up with Yodlee, which make application tools and financial management application, that would pull data from a variety of financial sources and automatically populate tax forms. The application is expected to be ready for a market test in April and to be available for the 2011 tax season. News | The Progressive Accountant | Thursday, 28 January 2010 |
Xpitax Bringing Outsourcing Onshore With the growth of the tax outsourcing business slowed to a crawl, Xpitax, based in Braintree, Mass., has decided to move outsourced preparation back on shore, but using the same processes that the company established for its processing center in India. The process started last year and hasn't become a major effort, yet. But the company anticipates it will. News | The Progressive Accountant | Wednesday, 27 January 2010 |
Haiti Relief Efforts; Tax Deductions Outline The effort to aid victims of the Haitian earthquake is bringing contributions from companies of all kinds, efforts that are being made easier by a law that enables taxpayers who make cash contributions to a qualified charitable organization between Jan. 11, 2010 and before March 1, 2010 to deduct these from 2009 income. News | The Progressive Accountant | Wednesday, 27 January 2010 |
Accountants Put Their Passion on the Web Accountants who are members of the Mentor Plus Consulting Accountants RoundTable have formed a group that has established a Web site, www.thepassionateaccountant.com, which is designed to promote the use of social media tools, such as Facebook, LinkedIn and Twitter. News | The Progressive Accountant | Wednesday, 27 January 2010 |
Avalara Picks Up Taxcient BAINBRIDGE, ISLAND, Wash. – Sales and use tax vendor Avalara has continued on the acquisition path with its merger with Taxcient, a San Diego-based company that supplies Web-based sales tax automation services and also tax filing and compliance services for large businesses. Taxcient, formerly known as vAudit Group, employes a team of former state tax auditors, technologists and financial system industry executives News | The Progressive Accountant | Wednesday, 27 January 2010 |
CCH Small Firm Services Opens SFS University KENNESAW, Ga. – CCH Small Firm Services has introduced the online SFS University, which is designed to provide training and continuing professional education credits to tax and accounting professionals. That program follows the launch of the CCH Learning & Development Academy by its parent organization last fall. News | The Progressive Accountant | Wednesday, 13 January 2010 |
H&R Block Moves into Times SquareNEW YORK - H&R Block will open a flagship office in Manhattan's Time Square this week as the tax service company begins its move into major metropolitan areas that includes selling many of its urban offices to franchisees, a move the company has said would make it better able to attract new operators who might otherwise sign up with its competitors. News | Bob Scott | Tuesday, 12 January 2010 |
Tax Chains, AICPA Welcome Preparer Regulations The nation's three largest tax store chains, H&R Block, Jackson Hewitt and Liberty Tax, and the American Institute of CPAs all welcomed the proposed regulation of paid preparers by the Internal Revenue Service. Those proposals, which exempt CPAs, Enrolled Agents and attorneys from some major requirements, were released this week by the IRS. News | Bob Scott | Tuesday, 5 January 2010 |
SpeedTax Gets New Venture Funding Round LAGUNA HILLS, Calif. – SpeedTax, which provides Internet-based sales-and-use-tax applications, has received a new round of equity funding from Committed Capital, a private equity firm. SpeedTax said this represented the largest equity investment the company has secured. However, it has not revealed amounts of any funding rounds. News | The Progressive Accountant | Tuesday, 5 January 2010 |
CCH Unit Promises Improved Support in Tax Season After the acquisition of IntelliTax resulted in waits on support lines for its customers of its TaxWise and ATX tax preparation software during the 2009 tax season, CCH Small Firm Services added resources to ensure more prompt answers to support calls, according to Gene Goldenberg, VP of marketing for the CCH unit. That includes revamped telephone services and extra staff. News | The Progressive Accountant | Tuesday, 5 January 2010 |
IRS Exempts CPAs, EAs from Major Proposed Regulations WASHINGTON D.C. - The Internal Revenue Service has proposed major regulations of the tax preparation business, but would exempt attorneys, CPAs and Enrolled Agents from competency tests and new continuing education requirements. However, all paid preparers would be required to register with the IRS and receive a preparer tax identification number and be subject to a limited tax compliance check. The requirements do not take effect this year and would be rolled out over several years. News | Bob Scott | Monday, 4 January 2010 |
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About the Author: Dr. Bob Spencer has nearly 40 years experience in Strategic Technology Planning, Software Selection, Disaster Recovery and Contingency Planning, Process Engineering, Content Management, Information Technology Reviews and Audits, and Internet Security Audits. He is an internationally published author of more than a dozen books and hundreds of articles on business and technology optimization. |
