will obamacare penalties kill your small business clients?

drug in syringe on white background

fines run $100 per day, per employee.

by stephen l. nelson, cpa
and elizabeth c. nelson, cpa

small business and the affordable care act

by now, many of your small business clients understand they don’t have to provide employees with health insurance. the employer mandate starts when a firm employs 50 or more full-time-equivalent employees.

but here’s an awkward follow-up question: do your small business clients understand that many of the aca’s rules still apply to them and that they may still be vulnerable to the aca’s 4980d excise tax penalty—which runs $100 per day per employee?

learn more: small businesses and the affordable care act: what every tax practitioner needs to know (55-page pdf digital download)

can we talk irc code sections?

people sometimes hear references to the 4980d penalty and scoff, say you can’t believe everything you hear on talk radio or read at some blog. so let’s look at the actual internal revenue code section in question.

here are the first few sentences of irc sec 4980d: read more →

where self-employed accountants fare best

young man working in home officeeight cities from california make the top 30; nyc is 10th.

by 卡塔尔世界杯常规比赛时间 research

self-employment is on the rise, and it only stands to reason that accountants would be part of the trend.

according to new research obtained by 卡塔尔世界杯常规比赛时间, self-employed accountants working in toledo, denver and san jose are best off when it comes to affordability.

read more →

8 ways sponsors can highlight opportunities

businesswoman at crossroads, facing two pathshelp your protégée showcase her strengths, but leave the final career decisions up to her.

by ida o. abbott
sponsoring women: what men need to know

once you have identified a woman to sponsor and determined that you click, you may be wondering how to get started.

learn more
learn more

more on sponsoring women for leadership: 17 ways sponsors can help protégées | 3 ways to open a sponsorship conversation | what sponsors need from protégées | 3 ways to derail sponsorships | 4 reasons women hold themselves back | 4 ways sponsors can help women seek power | bias about women with families lingers | gender bias still a problem | why women are overlooked (and how to fix it) | 3 ways men are favored in the workplace | women need promotions, not just advice | mentor or sponsor? how to distinguish roles | 4 ways women leaders improve firms | cpa firms must ‘man up’ and get women on board

here are some concrete steps to take:
read more →

can accountants save the planet?

z-1‘we must find new ways to measure economic costs and the changes in the economy.’

by edward mendlowitz, cpa

worth reading: six capitals, or can accountants save the planet?: rethinking capitalism for the twenty-first century” and “double entry: how the merchants of venice created modern finance,” by jane gleeson-white

the history of accounting is a fascinating drama and jane gleeson-white brings it to its thrilling heights. zi recommend both “double entry” and “six capitals” by jane gleeson-white, but for different reasons.

double entry: how the merchants of venice created modern finance,” is really two separate books – one an exciting history and the other a disturbing condemnation of the way the method of financial measurement has progressed. i also recommend “six capitals” if you want to find out more about her ideas, which is pretty deep stuff.

read more →

tax leads accounting industry in price hikes

ppimay15thumbnailaccounting industry shows healthier pricing power than most other industries — and its own clients.

next question: which pricing strategies are best for today’s market? join the survey; get the answers.

by rick telberg
卡塔尔世界杯常规比赛时间 research

following hefty hikes in billing rates during tax season, the tax, accounting and bookkeeping industry is pushing through price increases three times faster than the rest of the nation’s economy, according to a new 卡塔尔世界杯常规比赛时间 study.

more: fees and pricing reports for pro members only
learn more: go pro here

while most other industries — and, by implication, most of the profession’s clients — are barely managing to maintain price levels, the accounting industry is forging ahead aggressively. the industry’s powerful position in pricing suggests huge demand for the complex services that only accountants can provide. and many practitioners appear to be taking every opportunity possible. to be sure, costs are rising as well, with talent, technology and retirements putting pressure on many firms.

in this report, 卡塔尔世界杯常规比赛时间 analyzes pricing trends and billing rates for:

  • cpa firm services in general,
  • auditing and assurance services in particular,
  • tax preparation and planning, and
  • bookkeeping and compilations

read more →

get ahead of your software updates

words "time for an update" on clock facebottom line? you’ll be more productive.

by roman h. kepczyk
quantum of paperless

every firm has concerns about their systems being hacked or getting attacked by a virus or malware. the vast majority of issues can be effectively negated with one simple process: keep your software updated.

//www.g005e.com/shop/qop/
learn more

more on tech spending: blame accounting vendors: accountants stuck with outdated versions of microsoft office | ready or not, here comes windows 10 | back up and check your backup | cloud computing can cost less | laptop-only workers more common | scanners allow data capture at the source | in pc monitors, more is better

for workstations, your antivirus software should regularly look for updates and automatically install them. microsoft windows has an update feature that can be set to automatic for security upgrades. turn them on and schedule them to run automatically, either overnight or on weekends. read more →

the top 10 mistakes in partner retirement plans

top 10 signis your firm guilty of any of these?

by marc rosenberg

mistakes abound in partner retirement plans. here are the top 10 we see:

more on retirement: are partner buyout plans just ponzi schemes? | 20 new, essential keys for today’s partner retirement plans | clawback and how to handle it | can partners compete after they leave? | how to juggle tax considerations for partner retirement benefits | retirement plan funding? what funding? | vesting can cover part-timers, too

read more →

blame accounting vendors: accountants stuck with outdated versions of microsoft office

microsoft office logomany still using office 2010 even as microsoft plans launch of new 2016 version.

by roman h. kepczyk
quantum of paperless

to be effective in business today, every member of your firm must optimally utilize the microsoft office suite at an intermediate to advanced level for outlook, excel, and word. today’s standard is office 2013, but many firms use office 2010 because some accounting vendors still do not support office 2013 within all of their applications.

more on tech spending: ready or not, here comes windows 10 | back up and check your backup | cloud computing can cost less | laptop-only workers more common | scanners allow data capture at the source | in pc monitors, more is better

this is a good time for firms to review their listing of accounting applications to determine if they can transition to office 2013 and the cost to do so. keep in mind office 2016 will likely be released later this year and supported by the accounting vendors by the end of 2016. read more →

u.s. accounting pay beats london, but not asia

new global study shows 43 percent of accountants are ready to jump ship. here’s why.

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by 卡塔尔世界杯常规比赛时间 research

source: icas, via 卡塔尔世界杯常规比赛时间 research

the war for top talent in the u.s. accountancy profession is spreading worldwide, fueled by growth and increased confidence, according to a new global study obtained by 卡塔尔世界杯常规比赛时间.

some 43 percent of accountants at multinational firms say they’ll probably leave their jobs within the next year or two, seeking more pay, better opportunities or both. the figures closely follow those found by 卡塔尔世界杯常规比赛时间 in u.s.-focused studies (cpa firms paying top dollar for talent in nationwide hiring binge).

get the instant download of the full-size infographic:

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are partner buyout plans just ponzi schemes?

businessman tightly holding briefcase with dollar sign on itapply this test to your firm’s succession plan.

by marc rosenberg
retirements & buyouts

most multi-partner cpa firms have partner buyout plans that enable partners who leave the firm via retirement, death, disability or withdrawal to redeem their share of the firm’s value.

more on buyouts: 20 new, essential keys for today’s partner retirement plans | clawback and how to handle it | can partners compete after they leave? | retirement plan funding? what funding? | why you’ll get less from your partners in a buyout than you might by selling the whole firm | partners may balk at guaranteeing retirement obligations

over the last 10-20 years, retirement plans have come under more scrutiny as younger partners question whether departing partners are worth the payments due them and whether the firm can afford those payments. staff with near-term partner potential also question whether to commit themselves to making these payments. both of these groups fear that the firm will not be able to survive the retirement of dynamic, rainmaking partners who have tight relationships with their clients.

read more →

17 ways sponsors can help protégées

businessman and his female protegee working on a projectan effective sponsorship requires that you follow through.

by ida o. abbott
sponsoring women: what men need to know

when you sponsor a woman, there are many steps that you can take to ensure that the relationship is productive and achieves its objectives.

here are some tips for getting off to a strong start and following through effectively, especially by focusing on career opportunities and promoting your protégée to others.

learn more
learn more

more on sponsoring women for leadership: 3 ways to open a sponsorship conversation | what sponsors need from protégées | 3 ways to derail sponsorships | keep close relationships from getting too close | 4 reasons women hold themselves back | 4 ways sponsors can help women seek power | bias about women with families lingers | judged on performance, not potential? must be a woman | gender bias still a problem | why women are overlooked (and how to fix it) | 3 ways men are favored in the workplace | women need promotions, not just advice | mentor or sponsor? how to distinguish roles | 4 ways women leaders improve firms | cpa firms must ‘man up’ and get women on board

early in the process

  • ask her how you can help. the protégée might have some specific ideas in mind. ask her how you can best help her to be successful and what she hopes to gain from your support.

read more →