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Tax Software and the CPA
Can today's technology replace the personal touch of an accountant? As April
15th looms closer on the horizon, many individuals are exploring the idea of
using a tax software program to prepare their returns this year. Software
packages offer convenience, good prices (in most cases) and organization, but
can they really replace the personal touch of a CPA?
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5 Tips to Strengthen Your Reputation as an Accountant
Accountants across the country have felt the repercussions
of Big 5 accounting firm Andersen's struggle with the collapse of energy
company Enron. The accounting industry is focusing on rebuilding its reputation
with the public, but it's also crucial that every professional do the same.
Here, we offer five tips that can help.
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What fee should you charge for your accounting and bookkeeping service?
Make sure your prospective client recognizes the value of your services.
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The best marketing for your bookkeeping service? Word of Mouth!
When I started my accounting practice, I quickly found that the best
advertising method was word of mouth. Read more...
How YOU Can Get Uncle Sam to Pick-up the Full Costs of Running Your Small or
Home-Based Business? Congress has told the IRS to reimburse you for your
sign-up fees, product purchases, marketing materials, and even out-of-pocket
costs!
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More middle-income families could find AMT quite taxing
Why worry
about the alternative minimum tax? Most people know the alternative minimum tax,
or AMT, only as a tax that applies to the rich. In the past, this was true.
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Creating A Corporate Office Image From Your Spare Bedroom
Like it
or not, there is still a segment of the population who will erroneously conclude
that you and your business are less than professional and competent just because
you run your business out of your home.
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Home-Based Business Tax Avoidance Schemes
Most taxpayers
with home-based businesses accurately report their income and expenses, while
enjoying the benefits that a home-based business can offer. However, some
individuals have received advice that they can operate any type of unprofitable
"business" out of their home and claim personal expenses as business
expenses. Non-deductible personal living expenses cannot be transformed into
deductible business expenses regardless of how convincing the information in
marketing materials may seem.
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Don't Make These Six Mistakes
Here's a rundown of the six most
frequently made mistakes made by bookkeeping freelancers. Think about where your
soft spots are, and work to firm them up before they become chronic.
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Cheating on Taxes? Really?!
It shouldn't come as a
shock to hear it's a crime to cheat on your taxes. In a recent year, however,
only 2,472 Americans were convicted of tax crimes — .0022 percent of all
taxpayers. This number is astonishingly small, taking into account the fact that
the IRS estimates that 17 percent of all taxpayers are not complying with the
tax laws. And the number of convictions for tax crimes has decreased over the
past decade.
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How To Disagree With Your Client
An occasional difference with your client is not to be feared. It may even be an
opportunity, as long as it is addressed properly. Whatever the reason
for your concern, here are five strategies for effectively getting your views
heard.
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The "F" Word? Fraud!
Worried about fraud? Send
your bookkeeper on vacation! Small businesses are particularly vulnerable to
employee fraud because an employee often has several responsibilities without
direct supervision. The American Express Small Business Advisor is offering some
effective financial controls to stem the problem.
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The Seven Sins of Poor Listening
Communication with
your clients and peers is a two-way street. So you must be a good listener--as
well as a good speaker--if you want to stimulate a two-way flow of ideas. Here's
a list of some common listening faults I've seen practiced and how you can avoid
them.
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Thinking of deducting home office expenses? - USA
For many of us, being able to work out of our home is a dream come true. And for the most part,
it is a great thing. But many considerations come into play, especially when you
consider taking deductions for your home office expenses. Here are the basics.
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Get S.M.A.R.T. at Setting Goals
To be most effective in running a business -any business- you should be a
‘goal-setter'. Your goals are what will give you purpose, direction and energy.
Use the SMART approach for defining your goals.
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Starting a Business in the USA and Keeping Records
This publication provides basic federal tax information for people who are
starting a business. It also provides information on keeping records and
illustrates a record keeping system.
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How do I change a return I have already filed?
To make changes to 2004 personal tax filings, individuals should not file an
amended tax return. Canada Customs and Revenue Agency (CCRA) prefers that
individual taxpayers who wish make changes to returns, use form T1-ADJ
(Adjustment Request), available at local tax services offices or on the CCRA Web
site.
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What happens in an audit? - Canada
Our audit process involves establishing a relationship based on co-operation,
openness, and transparency-key factors in ensuring an efficient audit.
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Referrals Multiply Your Sales
You don't have to be a mathematician to understand the multiplication table of
referrals. For example . . .
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Let's Walk You Through Bookkeeping
If you are looking for help with a particular subject, you can skip ahead to a
subject with these links, otherwise we suggest you read each section.
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Family Employees - USA
If your employee is a member of your family, use the following rules to
determine if his or her wages are subject to employment taxes.
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