TOP TEN 1 | What are they? Reverse mortgages let homeowners convert a portion of the equity in their home into cash. No repayment is required as long as the borrower(s) use the home as their principal residence. 2 | Who’s eligible? HUD’s Federal Housing Administration (FHA) requires that a
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New Rules for Vehicle Donations
he IRS is always on the lookout for areas in which taxpayers are involved in what it feels are questionable practices, where it believes that legitimate deductions are being abused. One such area that has come onto the service’s radar screen involves used-automobile donations. Many charitable organizations have made
How Not to Hate Your Computer
EXECUTIVE SUMMARY Always keep your computer upgraded with the latest software. Sometime this year Microsoft is scheduled to introduce its next operating system, Vista. Consider waiting six months or so for the worst of the bugs to be worked out, and buy a new computer with Vista already installed. Be
Paper or Plastic?
Source: Survey of more than 400 financial and treasury executives, Visa USA Inc., San Francisco, www.usa.visa.com , 2005.
Is Antarctica a Foreign Country?
TAX CASE RC section 911(a) permits any U.S. citizen who resides and works in a foreign country to exclude up to $80,000 of earned income. To qualify for the exclusion, citizens must perform the services while their tax home is in a foreign country and must reside in that country
Cheaper to Keep ’Em
Source: Employee Satisfaction and Retention Survey of 350 company representatives and 15,000 individuals, Needham, Mass., www.salary.com , 2006.
Can You Spare a Dime?
NUMEROLOGY The answer would be “no” for 22% of consumers in the United States, according to a global online survey. Once they paid their basic living expenses, they had no money left over. Other countries have the same problem, with Portugal tying the United States. Canada (19%), the United Kingdom
Big Uncle Is Watching
Source: IRS, www.irs.gov .
Musical Jobs
Source: Employer Benefits Trend Study of 1,200 employees and 1,500 executives, MetLife, New York, www.metlife.com , 2005.
Have You Heard the One About the Atlanta CPA?
SPOTLIGHT To the optimist, the glass is half full. To the pessimist, the glass is half empty. To the accountant, the glass is twice as big as it needs to be. As accountant jokes go, that one’s pretty good. But if you want to hear more, or think you have
Katrina’s Harsh Lessons.
Those of us who lived through Hurricane Katrina’s devastation in the Gulf states also experienced countless acts of kindness. We want to acknowledge that tremendous outpouring of support. We regret we don’t have the space to recognize individually the thousands of stories of helpfulness and courage. —Grady Hazel, executive director,
Employee Retention: Five Things to Know
NUMEROLOGY Getting a mortgage is the largest personal financial transaction many of us will make. Here are five tips for avoiding unnecessary headaches: 1 | Some individuals are more valuable than others. The more an organization focuses on retaining high performers (those who deliver exceptional service to clients) and eliminating
Advancing the Audit Documentation Standard
EXECUTIVE SUMMARY SAS no. 103 establishes standards and provides guidance for auditors to follow when documenting their work during audits of private companies. It is effective for audits of financial statements of such companies for periods ending on or after December 15, 2006. The terms must, should and may as
Fewer Tax Crimes
Source: IRS, www.irs.gov .
Business Valuation
The AICPA has entered an agreement with the publisher of the Daubert Tracker, an online database of information on the admissibility and effectiveness of expert testimony in judicial proceedings. Under the arrangement, members of the AICPA business valuation and forensic litigation services (BV/FLS) section are eligible for substantially discounted subscriptions
Get Close to Your Clients
EXECUTIVE SUMMARY Customer relationship management (CRM) is about organizing client information so you can readily use it in appropriate, thoughtful communication and actions that strengthen the bond between the firm and the client. There are a variety of software packages to help manage a CRM program. Software can be hosted
Is Time on Your Side?
Source: Survey of 164 senior executives and managers, NFI Research, North Hampton, N.H., www.nfiresearch.com , 2006.
Don’t Sabotage Your Career
NUMEROLOGY n business, bad habits can have unintended consequences. Even the best employees do things—without thinking—that can have a detrimental effect on their careers. Executive coach Debra Benton, president of Benton Management Resources in Livermore, Colo., has identified five behaviors that can impede career advancement. 1 | Talking too fast.
Economic Woes
ON THE RECORD “The United States has some real economic problems that have been hidden under the tremendously easy credit caused by foreigners reinvesting their balance of payments earnings in American securities. Eventually this inflow will have to end as foreigners begin to use these funds to improve their own
Skip This Article (If You Don’t Back Up Your Computer)
EXECUTIVE SUMMARY Two groups of files— programs and data—need to be backed up, and each requires different timing and a different method. One of the most powerful tools for copying everything is Norton Ghost, which can make a complete snapshot of your entire hard disk. If your computer fails
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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
