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Thursday, May 31. 2007
CCH on new tax bill: Businesses benefit, some families lose
'Still some opportunities for family tax savings, but they’re quite limited'
RIVERWOODS, ILL. (Special CCH Tax Briefing) – Some wealthy families will help finance tax breaks for small business under the recently enacted Small Business and Work Opportunity Tax Act of 2007, according to CCH.
The tax provisions were part of larger legislation that also increased the minimum wage and provided funding for the Iraq war, signed into law on May 25. An expansion of the “kiddie tax” to cover children up to age 19 – up to 24 if they are college students – is one of the principal ways that the Act funds tax incentives to businesses, mainly small ones, as well as S corporation reforms.
Under the kiddie tax, a child’s unearned income in excess of $1,700 – income in the form of interest, capital gains and so on – is taxed at the parents’ top rate. This rule used to apply to children 13 years and younger. This allowed wealthy families to transfer assets to older teenagers and pay less tax as a family unit. Last year, though, Congress expanded the tax to cover children 17 years and younger, and this year’s change, effective for the 2008 tax year, limits the tax savings opportunities still further.
RIVERWOODS, ILL. (Special CCH Tax Briefing) – Some wealthy families will help finance tax breaks for small business under the recently enacted Small Business and Work Opportunity Tax Act of 2007, according to CCH.
The tax provisions were part of larger legislation that also increased the minimum wage and provided funding for the Iraq war, signed into law on May 25. An expansion of the “kiddie tax” to cover children up to age 19 – up to 24 if they are college students – is one of the principal ways that the Act funds tax incentives to businesses, mainly small ones, as well as S corporation reforms.
Under the kiddie tax, a child’s unearned income in excess of $1,700 – income in the form of interest, capital gains and so on – is taxed at the parents’ top rate. This rule used to apply to children 13 years and younger. This allowed wealthy families to transfer assets to older teenagers and pay less tax as a family unit. Last year, though, Congress expanded the tax to cover children 17 years and younger, and this year’s change, effective for the 2008 tax year, limits the tax savings opportunities still further.
Continue reading "CCH on new tax bill: Businesses benefit, some families lose"
Tuesday, May 29. 2007
When Accounting Isn’t Enough
Small business needs ERP solutions.
So why aren’t more CPAs stepping up? Join the study. Get the answers.
by Rick Telberg
At Large
Small businesses may need enterprise resource planning solutions more than they realize. But convincing them may be easier said than done.
According to an Aberdeen Group study, ERP is indeed working quite well for small manufacturers, those with up to $50 million in annual revenue. Still, a fairly large chunk have not yet implemented ERP, and many with systems in place should be considering upgrades.
Therein lies the opportunity because ERP consulting requires the advanced level of business client knowledge that’s a hallmark of accountants and finance professionals.
So why aren’t more CPAs stepping up? Join the study. Get the answers.
by Rick Telberg
At Large
Small businesses may need enterprise resource planning solutions more than they realize. But convincing them may be easier said than done.
According to an Aberdeen Group study, ERP is indeed working quite well for small manufacturers, those with up to $50 million in annual revenue. Still, a fairly large chunk have not yet implemented ERP, and many with systems in place should be considering upgrades.
Therein lies the opportunity because ERP consulting requires the advanced level of business client knowledge that’s a hallmark of accountants and finance professionals.
Continue reading "When Accounting Isn’t Enough"
Friday, May 25. 2007
The Big 4: Too Big to Fail?
Is PricewaterhouseCoopers the next Andersen?
Tyco International has agreed to pay $3 billion to settle shareholder lawsuits. What does that mean for Tyco's auditor, PricewaterhouseCoopers?
PWC is getting sued for billions -- which could crush the firm. And don't hold your breath for liability relief from Washington, Financial Week's Andrew Osterlund says. "SEC chairman Christopher Cox, already under fire for what some critics describe as steering the commission in too business-friendly a direction, may be less willing to take up the issue."
Tyco International has agreed to pay $3 billion to settle shareholder lawsuits. What does that mean for Tyco's auditor, PricewaterhouseCoopers?
PWC is getting sued for billions -- which could crush the firm. And don't hold your breath for liability relief from Washington, Financial Week's Andrew Osterlund says. "SEC chairman Christopher Cox, already under fire for what some critics describe as steering the commission in too business-friendly a direction, may be less willing to take up the issue."
Thursday, May 24. 2007
NETSUITE goes mobile on BlackBerry, Windows Mobile and Palm Treo
First On-Demand ERP/CRM/Ecommerce Suite to Empower Mobile Workers
San Mateo, Calif., May 24, 2007 – NetSuite, Inc., the leader in on-demand business management software, today announced that NetSuite® is available wirelessly on mobile devices such as BlackBerry, Windows Mobile and Palm Treo.
San Mateo, Calif., May 24, 2007 – NetSuite, Inc., the leader in on-demand business management software, today announced that NetSuite® is available wirelessly on mobile devices such as BlackBerry, Windows Mobile and Palm Treo.
Continue reading "NETSUITE goes mobile on BlackBerry, Windows Mobile and Palm Treo"
Wednesday, May 23. 2007
Bonadio Launches Podcast Marketing
Or is it really a client-service value-add?
Bonadio Group CPAs, based in Rochester, N.Y., may be one of the first (if not the first) regional CPA firm to move into podcasting as a branding and lead development tool. Marketing chief Alan Vitberg points us to the ViewPoints section of the firm's website. The firm has gathered a library of byliners -- in PDF and podcast -- that's organized by target market, i.e.:
-- Medium & Large Privately Held Companies
-- Public Companies
-- Small Business
-- Government
-- Healthcare
-- Not-for-Profit
-- Unions
-- Individuals
This is a terrific example of what we call "Marketing as a Service." Yes, it builds brand. And, yes, it drives leads. But if you're already a client it also provides practical information and peace of mind. And isn't that what CPAs are really delivering?
Bonadio Group CPAs, based in Rochester, N.Y., may be one of the first (if not the first) regional CPA firm to move into podcasting as a branding and lead development tool. Marketing chief Alan Vitberg points us to the ViewPoints section of the firm's website. The firm has gathered a library of byliners -- in PDF and podcast -- that's organized by target market, i.e.:
-- Medium & Large Privately Held Companies
-- Public Companies
-- Small Business
-- Government
-- Healthcare
-- Not-for-Profit
-- Unions
-- Individuals
This is a terrific example of what we call "Marketing as a Service." Yes, it builds brand. And, yes, it drives leads. But if you're already a client it also provides practical information and peace of mind. And isn't that what CPAs are really delivering?