TAX MATTERS Source: Survey of 1,400 CFOs nationwide, Robert Half, International, Inc. Menlo Park, California, www.rhi.com .
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Line Items
LINE ITEMS Sale and Repurchase of Capital Assets Under the Taxpayer Relief Act of 1997, new maximum capital gain rates went into effect January 1, 2001: the 20% capital gain rate was lowered to 18%, provided a property is held for more than five years and the holding period began
Privacy
PRIVACY The Federal Financial Institutions Examinations Council issues guidelines for examiners who will determine whether banks meet federal consumer privacy regulations that became mandatory July 1 ( www.occ.treas.gov/ftp/bulletin/2001-26a.pdf ).
The Community Renewal Tax Relief Act of 2000
n an effort to spur development in economically distressed areas, Congress passed the Community Renewal Tax Relief Act of 2000. Essentially, this law provides tax incentives for businesses to locate and hire residents in urban and rural areas that have not experienced recent economic expansion. This law creates, extends and
Technology
TECHNOLOGY XBRL.org, an electronic financial reporting advocacy group, releases for comment a draft version of “XBRL for General Ledger.” The proposed extensible business reporting language specification, which is expected to be available for use in September, is compatible with international accounting standards and simplifies the process of moving data into
Get The Right Underline
Q. How do I get Excel to add special accounting underlines to spreadsheet cells? A. Excel can generate four different types of underline. To access them go to Format, Cells (or right-click, Format Cells ) and click on the Font tab. Below Underline left-click on the down arrow and the
Recovery of Embezzled Assets Half a World Away
EXECUTIVE SUMMARY THE FIRST STEP IN A FORENSIC INVESTIGATION is to gather as many details as possible about the facts of an alleged misappropriation. But CPAs need to be systematic to guard against “information overload,” which can lead to important factors being overlooked. CPAs, INVESTIGATORS AND ATTORNEYS need to develop
Mutual Funds: Dealing with Market Downturns
INVESTMENTS Investors who ignore history are doomed to repeat it. Lessons of a Bear Market BY MAUREEN NEVIN DUFFY EXECUTIVE SUMMARY THE RECENT BEAR MARKET CAN TEACH SOME VALUABLE lessons to CPA/financial planners and their clients. The first sustained market decline in recent memory was a test of CPAs’
New Tax Act Expands Education IRAs
n June 7, 2001, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, a package of sweeping tax reforms affecting income, estate and gift taxes. Some of the new provisions ease the costs of higher education by providing new and expanded deductions and exclusions.
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Exhibit3: Completed Visual for Display in Court
Never Underestrimate the Opposition
LITIGATION/CONSULTING How using instructional visuals can help CPAs in litigation support. An Expert Witness Can Make or Break a Case BY GEORGE L. JOHNSON and CYNTHIA WALLER VALLARIO EXECUTIVE SUMMARY THE CPA EXPERT WITNESS MUST CHOOSE an approach in the pretrial planning phase that will develop and integrate facts
A Better Open File Dialogue Screen
» Key to Instructions To help readers follow the instructions in this article, we used two different typefaces: Boldface type is used to identify the names of icons, agendas and URLs. Sans serif type shows the names of files and the names of commands and instructions that users should type into
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Exhibit 2: Display Your Case
Locate The Largest (and The Smallest) Number
Q. I frequently have to select the top three sales receipts for an area and then add them up. All the sales figures are on a spreadsheet and I’ve been sorting the numbers to get the top three and then adding them. I suspect there is an easier way. Any
Home In On A Target Worksheet
Q. I have loads of worksheets in a single Excel file—so many, in fact, that the identification tabs extend off the screen. As a result, finding the one I want and switching to it is like a game of chance. Any tips? A. There’s a quick and easy way to
Lessons of a Bear Market
EXECUTIVE SUMMARY THE RECENT BEAR MARKET CAN TEACH SOME VALUABLE lessons to CPA/financial planners and their clients. The first sustained market decline in recent memory was a test of CPAs’ investment and client management skills. BAD MARKETS OFFER A CHANCE TO RETHINK AN EXISTING investment strategy. CPAs can use it
Avoiding Insurance Errors
ecause of their often complex nature, insurance transactions provide fertile ground for mistakes. When reviewing these transactions, CPAs have a golden opportunity to protect clients from making potentially costly errors. With care, patience and knowledge of what to watch for, you can be a hero to both your clients and
Government Auditing
GOVERNMENT AUDITING The GAO issues a draft of a strategy guide to help federal departments and agencies minimize their improper payments. It includes examples of techniques public- and private-sector organizations have used to estimate the extent of such payments, the cost of implementing effective internal control systems and the effectiveness
Irrational Ratios
inancial statements tell a story,” says accounting professor W. Steve Albrecht, “and the story should make sense.” If not, it’s possible the story is a fake. By standing far enough back from the numbers to get a good picture of the client’s business, auditors frequently can detect signs of financial
Golden Business Ideas
How to Check References Some job seekers craft their resumes with the same creative energy they would apply to writing a novel. And ferreting out fact from fiction takes skill and persistence. Here are some useful tips to uncover resume-doctoring: n Early in the job interview, warn candidates that you
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
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Current Developments in Taxation of Individuals: Part 1
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