Exhibit14
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A Nice Niche—If You Minimize Liability Risk
EXECUTIVE SUMMARY INCREASED ACTIVITY IN ESTATE and succession planning and mergers or acquisitions involving small to midsize businesses has fueled demand for business valuation (BV) services. BV malpractice claims arise most often from a tax planning or consulting engagement that—at the client’s request—morphs into a BV in mid-transaction. THE PREDOMINANT
New Wage Max for Social Security Payroll Tax
Source: Social Security Administration, www.ssa.gov .
Separating Fact From Fiction
I believe the article, “Everyone Out of the Pool” ( JofA, May00, page 45) , overlooked several significant issues and that its examples contained some debatable points. The authors concluded that companies generally pay a premium to complete a merger by the pooling method. According to the article, companies that
Research Summary 6: Analytical Procedures and Audit Planning Decisions
uditors perform analytical procedures in planning the nature, timing and extent of testing. Significant fluctuations between the current year’s unaudited data and expected results signal an increased risk of material error and help auditors focus their planned tests on high-risk areas. This study examined auditors’ decisions to revise preliminary audit
Emphasize Selected Spreadsheet Numbers
Q. When I’m making a presentation with Excel, there are times I want to highlight a few key numbers to make them stand out from all the other numbers. I know I can color them—and that’s helpful—but I’d like to give them more emphasis. Ideas? A. In addition to coloring
How To Shrink Outlook
Q. I handle my e-mail through Microsoft Outlook, sorting and saving the incoming messages by project in separate folders. It works quite well, but over time the Outlook file has grown to gargantuan size; it’s now over 95 megabytes (Mg). When it reaches 1 gigabyte (Gb) I’m going to be
Corporate Payment of Shareholder Expenses
The IRS closely scrutinizes all related party transactions. In addition to verifying that the items involved are stated at fair market value, it checks to make sure the transaction is properly classified. Recently, the Tax Court considered the correct classification of a corporation/shareholder transaction. Lenward Hood created Hood’s Institutional Foods
CFOs Say Power Lunch Is Here to Stay
Source: Survey of 1,400 CFOs from a random sample of companies with more than 20 employees. Robert Half International Inc., Menlo Park, California. www.rhii.com .
Let’s Get Personal
Source: Social Security Administration, www.ssa.gov .
Research Summary 5: Auditors’ Multidimensional Knowledge Structure and Computer Performance.
esearch has explored the ways in which auditors perform internal control reviews and the skills necessary for expert performance. The auditor’s “knowledge structure”—the way accounting and auditing knowledge is organized in the auditor’s mind—is thought to affect performance through its role in recall. Is it easier, for example, to recall
The Engagement Team Approach to Independence
EXECUTIVE SUMMARY IN LIGHT OF FAST-MOVING CHANGES in society and business, the profession has responded by shifting from “firm-based” independence rules toward an approach that is “engagement team based.” THAT APPROACH IS INCLUDED in the SEC’s recently adopted rule 2-01 revisions. An exposure draft from the International Federation of Accountants
Form W-2 Gets Code for Stock Options
The IRS announced that employers will use a new code in box 12 of the 2001 form W-2. Box 12 states the amount of benefits includable as wages on which the employee’s share of taxes has been paid. Code V will identify the amount of compensation related to the exercise
Filter Out Weekends In Excel
Q. One of my duties is to calculate the number of business days—leaving out Saturdays and Sundays—between two dates and then insert that information in a spreadsheet. Is there a software program which does that? A. You’re in luck—you don’t need a special program. Excel’s Networkdays worksheet function does it.
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Exhibit 5: Purchasing is Preferable
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Exhibit 2: Lease vs. Loan Illustration
Deducting Travel Expenses
In general, personal expenditures such as food and lodging are not tax deductible. However, a taxpayer may deduct these costs while he or she is away from home overnight for business purposes. Instead of deducting actual expenditures, taxpayers can use the per diem amounts for food and lodging in revenue
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Exhibit 3: Depreciation and Lease Limits IRC section 280F Depreciation Limits for 2000 Year 1 Limit $3,060.00 Year 2 Limit $4,900.00 Year 3 Limit $2,950.00 Year 4 Limit $1,775.00 Year 5 Limit $1,775.00 Year 6 Limit $1,775.00 Dollar amounts for autos (partial table) with lease term beginning in calendar year
Golden Business Ideas
Smart Outsourcing Strategies No question about it, outsourcing is a great idea. But it’s an idea that needs some careful strategic thinking before jumping into it. For example: Never outsource your core business—even if it can save you money in the short run. Lose control of your core business and
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Exhibit 4: Lease or Buy–Input Range Instructions: You may find information about leasing or purchasing an auto from one of these sites. www.carpoint.msn.com www.autogiant.com www.carsdirect.com www.driveoff.com www.leaseguide.com www.carinfo.com www.leasespy.com Input variables General information: Employee or self-employed (1 or 2) Monthly payments in year 1 Marginal tax rate Sales/Use
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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
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
