June 2014

As a part of CPA Practice Advisor's ongoing series, "A Year in the Life of a SALT Accountant," Dallas-based Peisner Johnson LLP offered some key advice to accountants and their small business clients when it comes to activities that can cause them to be exposed to unexpected sales and use taxes in jurisdictions where they may think they are not required to report.

Selecting a small business accounting package is, in some ways, like purchasing a piece of home exercise equipment. The solution needs to meet your needs, be easy to use, should fit within your budget, and should be pleasant enough to use that the client will actually keep their books after the first week or two.

Sales and use tax is a key source of government funding in most states. Unlike property tax and state income tax, however, the legislators and regulators have adopted a patchwork of different rules which affect the taxability of the items. In addition to dealing with statewide tax rates in 45 states, 38 states levy sales taxes based on the borders of cities, counties, and special districts.

Taken separately, workers’ compensation laws, the Americans with Disabilities Act (ADA), and the Family and Medical Leave Act (FMLA) represent complicated laws that are often difficult for employers and employees alike to figure out. When workers must be absent from the workplace under two or three of these laws, the situation becomes even more complex, and companies’ risk of potential litigation and regulatory investigations increase.

There are many in the accounting profession who can remember being the stereotypical accountant: the green eyeshade blocking out the glaring light bulb over a desk or table filled with handwritten ledger sheets, footing and cross-footing with a 10-key before handheld calculators existed...

When I started my accounting career as a Deloitte tax accountant, we were each expected to choose a niche. I wanted to focus on agriculture clients, but it seemed the Chicago area didn't provide enough to keep me busy in that area, so instead I found myself getting the small business clients, and in particular, […]

The Year in the Life of a State and Local Tax (SALT) Accountant series is being created with the practitioner in mind. In cooperation with Avalara, each month we'll provide you with the latest news relating to state and local tax issues, updates on federal legislation, checklists and tips for building and improving your SALT practice, talking points and guidance for answering the questions posed by your clients, and more.

CPA Practice Advisor's Editor-inChief spoke with Mike McDerment, the CEO and Co-Founder of FreshBooks, about how the company views the evolution of the small business accounting space.

CPA Practice Advisor's Editor-inChief spoke with Scott Zandbergen, the V.P. of cloud accounting vendor Wave, about how the company views the evolution of the small business accounting space.

CPA Practice Advisor's Editor-inChief spoke with cloud accounting vendor Jim Secord, the CEO of small business accounting developer Kashoo on the evolution of online accounting systems.

CPA Practice Advisor's Editor-inChief spoke with cloud accounting vendor Xero's top executives, Global CEO Rod Drury and North American CEO Peter Karpas on how they perceive the evolution of the small business accounting space.

When Intuit introduced a new design for its products, it was aiming for a harmonic look and feel across its solutions that made it easier for users to use. But, it didn’t just stop there. The maker of financial management solution decided they wanted to make business easier for small business owners.

You know (you might even be) the type: "I know it looks messy but I know where everything is!" There are those whose desks and workspaces look almost vacant - like no one could possibly work there because every surface is bare.

These applications are low cost or free, and are supported with in-application ads and other special offers provided based on the user’s personal profile. Since they are stored online, the data can be shared with outside advisors, including the individual’s accounting firm.

This year is the year of delivery for many new hardware and software products. Which are ready for production? Which should be implemented first? You know that every technology does not need to be implemented.

There is a lot of interest, discussion and action taking place around client accounting and advisory services these days. Firms are recognizing the opportunities offered by advances in technology and cloud accounting systems. However, it’s not the technology platform driving this movement, rather firms’ desire to transition from a trusted technical advisor to a trusted business advisor. Before you even get into the discussion about which cloud accounting platform is right for your firm and clients, you must first ask if your firm is prepared to play above the line.

Technology is rapidly advancing in our everyday lives as well as in our professional careers, but finding the solutions that have the greatest impact on productivity and, ultimately, profitability can help a firm thrive.

By now you have discovered the sad and silly trick that Microsoft played on you during the last days of tax season. Windows XP has been killed, and you have to upgrade to Windows 8.1 or leave your accounting computers both unprotected and in violation of federal law.