The work opportunity tax credit (WOTC) has been in existence for years; however, the Small Business and Work Opportunity Tax Act of 2007, P.L. 110-28 (SBWOTA), expanded the definition of some of the target groups, creating tax incentives that will affect more clients than originally expected. SBWOTA
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Firm practice management
Data Points: 33 and 25
33Percentage of U.S. private companies that expect to change hands in the next 10 years. 25Percentage of those businesses that expect to do so within the next two years. Source: Grant Thornton International Business Report , www.internationalbusinessreport.com .
Untying the Knot: Planning for a De-Merger
EXECUTIVE SUMMARY A merger process should include planning for a de-merger and establishing a sound agreement if a de-merger subsequently becomes necessary. De-merger agreements define how to treat specific issues if a de-merger has to take place. Items to consider addressing in a de-merger agreement include: Protecting
Best Practice: Continuation Plans
What would happen if you were unable to work for an extended period of time? Practice continuation plans are essential for CPAs. They ensure clients are taken care of and preserve the value of a practice, especially for small to medium-size firms, if an owner or sole practitioner falls ill.
Smart Stops on the Web
BUSINESS VALUATION BURNING BV QUESTIONS www.go-iba.org/blog This site from the Institute of Business Appraisers hosts a discussion group between its members and Rand M. Curtiss, FIBA, MCBA, ASA, chairman of the American Business Appraisers National Network. Its question-and-answer format covers a range of topics relating to the
Compliance
A study by Lord & Benoit, a firm specializing in SOX compliance, identified what it described as the 10 leading material weaknesses among 148 companies with revenue of less than $100 million. Companies with effective internal controls were excluded from the study. Nearly two-thirds of the companies with material weaknesses
Ideas That Really Work to Recruit and Retain Staff
Does your firm have a consistent hiring message and formalized training program for new hires? CPA and consultant Steve Erickson developed 10 tips to help firms in achieving their hiring and retention goals. Increase focus and efforts. Make recruiting a year-round focus, engaging both partners and employees in the process.
Accounting Best Practices (Fifth Edition)
by Steven M. Bragg, CPA John Wiley & Sons Inc., 2007, 490 pp. Steven M. Bragg is back with new and enhanced tips designed to improve the efficiency of business accounting departments. Bragg, a prolific author and former CFO and controller, has penned the fifth edition of his accounting best
Avoiding the Commitment Dip
Firms use thousands of dollars and work hours to make change initiatives a success—and then the bottom falls out. Or in this case, employee commitment to the change drops off, and all signs point to failure. Richard Lepsinger, a human resources consultant and co-author of Flexible Leadership: Creating Value by
CPA Executives Predict HR Headaches
Staff-related issues will account for four of the top five challenges facing organizations in upcoming months, according to a survey of more than 1,350 CPA decision makers. Ninety-five percent of respondents saw employee and benefit costs as a challenge of some type, with 25% classifying it as a major challenge.
Small Business, Big Life: Five Steps to Creating a Great Life With Your Own Small Business
by Louis Barajas, MBA, CFP Thomas Nelson Inc., 2007, 199 pp. As a 13-year-old, Louis Barajas was an integral part of his father’s small business, doing the taxes and bookkeeping and translating for his Spanish-speaking father. He understands the hard work, dedication and courage required to start and maintain a
Hiring the Best and the Brightest
High employee turnover increases costs and hurts productivity. It is also preventable. The best way to avoid spending the time, energy and money it takes to find a replacement is to hire the right person the first time. To build a solid finance team, know what you
Sweet Charity
Firms that tout employee volunteer programs could have a leg up when it comes to recruiting young CPAs. According to the 2007 Volunteer IMPACT survey by Deloitte & Touche USA LLP, 62% of Generation Y employees said they would prefer to work for companies that give them opportunities to contribute
The Red Carpet Treatment
EXECUTIVE SUMMARY Statistics show strong job prospects for CPAs are likely to continue well into the next decade. The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) anticipates employment for accountants and auditors to grow by at least 22% between 2004 and 2014. Sarbanes-Oxley compliance,
Managed Accounts
EXECUTIVE SUMMARY A growing number of companies are beginning to offer employees professionally managed accounts for 401(k) assets. In these managed accounts, an independent investment manager handles investment decisions, makes portfolio changes as needed based on each participant’s specific needs and risk tolerance, and rebalances the
All in the Family
EXECUTIVE SUMMARY Multifamily office (MFO) services have long been offered by a variety of financial services providers. Increasingly, CPA firms have made this provision of comprehensive wealth management and personal services to select client families a major facet or even cornerstone of their practice. For many
NPO Software Measures Up
If you’re in the market for nonprofit organization (NPO) accounting software, you’re in luck. Most of the products have undergone major upgrades in recent years that have made them far more powerful, feature-rich and easier to use. In our last survey of such software (“ Sizing Up
Weaving the Web of Information
Companies are getting the message that their employees want benefits information online—62% reported they prefer this delivery method. But there’s a right and wrong way to educate and encourage responsible behavior among employees via the Internet, according to Michael Rudnick, national eCommunications and portal leader at Watson Wyatt. Rudnick offers
Delivering Difficult Messages
EXECUTIVE SUMMARY No one relishes an uncomfortable conversation. When the best interests of a company, firm, individual or the public are threatened, it’s important to “be a leader” and take on the task. A three-stage process can be relied on to broach any uncomfortable conversation: (1)
Remote Assistance
You are visiting an office in Texas and need immediate help with a computer application. Because of the problem’s complexity, you figure a phone call won’t resolve the issue. You need a live visit from an expert. The only problem is he or she is in New
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SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
From The Tax Adviser
October 31, 2025
Recent developments in estate planning
October 31, 2025
Current developments in taxation of individuals: Part 2
September 30, 2025
Current developments in taxation of individuals: Part 1
August 30, 2025
