Q How do you format negative numbers, including percentages, to show as red in Excel? A There are a couple of possibilities, but your best option is to use Conditional Formatting. In Excel 2003, begin by selecting the cells you want to format. Then select Conditional Formatting from the Format
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Institute Joins Nonprofit Investor Information Group
The AICPA is a new participant in the nonprofit Alliance for Investor Education. The 21-member alliance provides investors with access to information they need to make wise investment decisions. “The AICPA, especially through its financial literacy campaigns, has advocated for an educated, well-informed investor,” said Carl George, chairman of the
2009 Tax Software Survey
The JofA and The Tax Adviser conducted a survey of their readers to determine what aspects of their tax preparation software they like and what they dislike. The survey, which received 9,776 responses, was carried out in late June and early July 2009. Of the 13 products identified for the
Line Items
IRS ISSUES REGS ON SIX-YEAR LIMITATIONS ON BASIS OVERSTATEMENT The IRS issued proposed and temporary regulations (TD 9466, REG-108045-08) Sept. 24 to clarify that an overstatement of basis can create a substantial omission of gross income under IRC §§ 6229(c)(2) and 6501(e) for purposes of the six-year extended period for
NABA: Forty Years of Growth
From seeds sown 40 years ago this month in a gathering of accountants in the living room of CPA Frank Ross, the National Association of Black Accountants (NABA) has grown to more than 50 professional and 150 student chapters nationwide. To succeed, it has had to reach consensus on its
When a Tax Return Is Not a “Return”
A taxpayer who does not comply with IRC § 6020(a) when filing late tax returns could lose the benefit of a bankruptcy discharge of taxes due on those returns. CPAs must be wary of this 2005 amendment to the Bankruptcy Code (USC Title 11) if a client has a history
Another Perspective on CFO Prerequisites
“CFO 101: Five Prerequisites” (Sept. 09, page 38) was a great article! In fact I am going to redo my resume to specifically identify these skills in my background. I think you hit the nail on the head in regards to what skills a CFO needs but find that many
A Limited-Time Opportunity for Small Business Stock
The American Recovery and Reinvestment Act of 2009 (ARRA) increased the exclusion amount for qualified small business stock (QSBS) from 50% to 75% (IRC § 1202). In addition, QSBS is currently subject to a lower inclusion rate for gains subject to the alternative minimum tax (AMT) under section 57(a)(7). However,
Underlying Assets Not Gift Tax Value of Interest in N.Y. LLC
In a taxpayer-friendly ruling, the Tax Court has held that a transfer of interest in a single-member limited liability company (LLC) should be valued for gift tax purposes as a transfer of an interest in the LLC rather than a transfer of its underlying assets. In 2000, Suzanne Pierre organized
Don’t Skimp on Scanners
Another tax season is coming and with it come renewed vows of “going paperless”—or at least going in that direction. The CPAs who have gone completely paperless—scanning in the beginning of the process, using triple monitors so the third screen replaces the physical source docs and essentially never touching a
IRS Expands Electronic Payment Options
With tax season about to start, practitioners should be aware of the various electronic payment options the IRS has introduced in recent years. EFTPS The IRS’ free Electronic Federal Tax Payment System (EFTPS) allows businesses and individuals to pay federal taxes via the Internet or over the phone. Tax payments
An Update on Accounting for Uncertainty in Income Taxes
Preparers of private company and not-for-profit organization financial statements will have to implement provisions of Topic 740 of the FASB Accounting Standards Codification (ASC) relating to accounting for uncertainty in income taxes (formerly FASB Interpretation no. 48, commonly known as FIN 48) for annual financial statements for periods beginning after
Institute Recognized for Business Excellence
The AICPA received the Greater Durham (N.C.) Chamber of Commerce 2009 Business Excellence Award in the Large Business category. Anthony Pugliese, AICPA senior vice president–Finance, Membership & Operations, accepted on behalf of the Institute. The award is given annually, in five categories, to organizations that exemplify success in the Greater
Small Business
The U.S. Small Business Administration extended its Gulf Opportunity Pilot Loan Program (GO Loans) through Sept. 30, 2010. The SBA said in a press release that demand for GO loans has increased significantly in fiscal year 2009 in response to the continued need to rebuild Gulf Coast areas. The SBA
Selecting the Right Investigative Resource
It’s Friday at 4 p.m., seven days before the filing deadline for an SEC registrant’s annual financial statements. The general counsel has just received a detailed but anonymous email alleging improper revenue recognition at the company’s Chinese subsidiary and must decide what to do next. This scenario, enough to panic
CPAs Can Help Builders Increase Profits, Cash Flow
At a time when the construction industry is faced with unprecedented economic conditions, companies must do everything possible to remain profitable and maintain positive cash flows. Consider the following tips to help your clients in this industry: —By Michael J. Otis, CPA, president of Construction Accounting & Development Financing Inc.
Tim Jackson, CPA
I don’t think too many people really enjoy turning 50, but hitting that milestone this year made me eligible to compete in the U.S. Senior Open golf tournament. Not too many amateurs make it to the tournament, so it was a thrill to be a participant. The week, though, became
Scott Named Vice President–Business, Industry and Government
Carol S. Scott was named vice president–Business, Industry & Government for the AICPA. Scott is responsible for setting strategic direction and developing and executing programs on behalf of CEOs, CFOs and other CPAs working in business, industry and government, a group that comprises 45% of the Institute’s membership. She reports
Create Keyboard Shortcuts to Insert Symbols in Word and Excel
Q I’m beginning to handle international business, which means I need to be able to use foreign currency symbols in both Word and Excel. How do I create a shortcut for various symbols? A Let’s start with Word, which is the easiest. In Word 2003, press Insert, Symbol, which
Professional Issues
AICPA Chairman Robert R. Harris told a congressional committee on Sept. 23 that the Institute supports stronger protections for financial consumers, but cautioned that one bill under consideration is overly broad and could burden CPAs with excessive regulation. Testifying before the House Small Business Committee, Harris acknowledged gaps in the
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FROM THIS MONTH'S ISSUE
Flip out with the latest Tech Q&A
The September Technology Q&A column shows how to create dynamic to-do lists with Excel's checkboxes and also how to set up multifactor authentication texts that don't rely on phones. Flip through both items and view a video walkthrough in our digital format.
From The Tax Adviser
August 30, 2025
2025 tax software survey
July 31, 2025
