tag:blogger.com,1999:blog-18336669546530109952024-02-08T04:02:29.857-06:00Missouri Society of CPAsThe official blog for members of the Missouri Society of CPAsMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.comBlogger93125tag:blogger.com,1999:blog-1833666954653010995.post-52161874551321333142010-03-18T13:47:00.002-06:002010-03-18T13:58:36.252-06:00Two New Tax Benefits for Employers who Hire & Retain Unemployed WorkersIR-2010-33<br /><br />Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.<br /><br />Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from their share of Social Security taxes on wages paid to these workers after March 18, 2010. This reduced tax withholding will have no effect on the employee’s future Social Security benefits, and employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as income taxes. The employer and employee’s shares of Medicare taxes would also still apply to these wages.<br /><br />In addition, for each worker retained for at least a year, businesses may claim an additional general business tax credit, up to $1,000 per worker, when they file their 2011 income tax returns.<br /><br />The two tax benefits are especially helpful to employers who are adding positions to their payrolls. New hires filling existing positions also qualify but only if the workers they are replacing left voluntarily or for cause. Family members and other relatives do not qualify.<br /><br />In addition, the new law requires that the employer get a statement from each eligible new hire certifying that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for someone else during the 60-day period. The IRS is currently developing a form employees can use to make the required statement.<br /><br />Businesses, agricultural employers, tax-exempt organizations and public colleges and universities all qualify to claim the payroll tax benefit for eligible newly-hired employees. Household employers cannot claim this new tax benefit.<br /><br />Employers claim the payroll tax benefit on the federal employment tax return they file, usually quarterly, with the IRS. Eligible employers will be able to claim the new tax incentive on their revised employment tax form for the second quarter of 2010. Revised forms and further details on these two new tax provisions will be posted on IRS.gov during the next few weeks.<br /><br /><br /><a href="http://www.irs.gov/newsroom/article/0,,id=220326,00.html">http://www.irs.gov/newsroom/article/0,,id=220326,00.html</a>Missouri Society of CPAshttp://www.blogger.com/profile/03119845403718719561noreply@blogger.com3tag:blogger.com,1999:blog-1833666954653010995.post-78057047732676780892010-03-08T11:54:00.000-06:002010-03-08T11:55:07.946-06:00Do You Know Anyone Who Has Been Laid Off During The Last Three Years?Immediate action may be necessary to secure refunds of Social Security taxes for 2006. <br /><br />A District Court Case recently held that severance payments made by a bankrupt retailer to employees were not subject to Social Security taxes. While there is a good likelihood that the IRS will appeal since they won an Appeals Court case in 2008, companies should consider filing protective refund claims citing this new decision. It is critical if this issue applied in 2006 to file a protective claim immediately since the statute of limitations generally expires three years after the due date of tax returns. With a protective claim for refund, the IRS holds the claim until the case is ultimately decided. If the IRS ultimately loses its appeal, it will be required to honor the protective refund claim. <br /><br />Severance payments refunds may also be available for 2007 and 2008, and you will need to take this new case into consideration for 2009.<br /><br />Those affected should contact the company that laid them off to see if they are filing for the potential refunds.<br /><br /><br />Julie Welch, CPA, CFP <br />Meara Welch Browne, P.C.<br />julie@meara.com <br />816-561-6868Missouri Society of CPAshttp://www.blogger.com/profile/03119845403718719561noreply@blogger.com5tag:blogger.com,1999:blog-1833666954653010995.post-17432549938930612342009-12-16T10:47:00.002-06:002009-12-16T10:50:03.077-06:00What do you think of the St. Louis Globe Democrat?It's back! The St.Louis Globe Democrat died as a daily newspaper October 29, 1986 at the age of 134, leaving St. Louis as a one-paper town. It has been resurrected and has just finished its first week back as an online-only newspaper.<br /><br />Publisher Dan Rositano has 16 fulltime staffers and about 20 contributors. He says he’s amazed at the consumer response in the first week.<br /><br />Check it out:<br />http://www.globe-democrat.com/<br /><br />What do you think?Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-5221645699804180272009-12-09T09:21:00.001-06:002009-12-09T09:23:13.055-06:00Can Accountants Be Effective Leaders?The current recessionary climate has thrust CFOs into the spotlight and made one thing abundantly clear: U.S. companies are in dire need of financial leadership. <br /><br />And, although for many financial professionals the idea of achieving financial leadership is a clear and realistic goal, few understand the skills necessary to become a true leader. <br /><br />Business Finance Magazine explores the leadership skills accountants should focus on to become more valuable to their companies and firms.<br /><br />http://businessfinancemag.com/article/leadership-skills-continuum-1130Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com1tag:blogger.com,1999:blog-1833666954653010995.post-75048969819926638922009-12-02T10:22:00.002-06:002009-12-02T10:24:36.786-06:00St. Louis Business Journal Writes That Missourians Feel Better About EconomyDo you agree that the economy is turning around?<br /><br />This is the topic of a blog posting by Kelsy Volkmann. She writes:<br /><br />"This holiday season, Missourians are feeling cheerier about the economy, their jobs and their wallets, a new survey shows.<br /><br />Fears about the recession are slowly subsiding, with more than half of Missourians surveyed by accounting firm Deloitte saying they expect the economy will improve in 2010.<br /><br />Nearly nine in 10 (87 percent) believe their jobs are secure compared with 81 percent nationwide, Deloitte found, unlike our own unscientific poll this month of St. Louis Business Journal readers who said they felt less secure."<br /><br />What do you think?<br /><br />http://stlouis.bizjournals.com/stlouis/blog/2009/11/missourians_feel_cheerier_about_economy.htmlMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-77456204911465275312009-11-25T11:18:00.002-06:002009-11-25T11:21:31.378-06:00It's That Time of Year!The holidays represent a lot for all of us, but for many CPAs, it means something in addition to all the festivity--tax season is coming.<br /><br />To help assist our tax practitioners ramp up their staffs for the 2009 tax season, MSCPA is offering you the opportunities to post your part-time tax assistance openings for FREE on the MSCPA Career Center.<br /><br />Your postings will be promoted to MSCPA’s nearly 9,000 CPA members throughout Missouri. Interested applicants will then apply directly to your postings online. <br /><br />To post your FREE part-time opportunity, scroll down to the last package:<br />http://careers.mocpa.org/rates.cfmMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-9238654783251378442009-11-18T08:51:00.001-06:002009-11-18T08:52:21.687-06:00Does Social Media Make Your Smarter?A study published by global think tank, the Human Capital Institute (HCI), revealed that over half of all organizations are experimenting with communities of practice for business purposes, along with other popular applications such as social networks (49%), blogs and/or wikis (39%). <br /><br />According to the third annual Deloitte LLP Ethics & Workplace survey published earlier this year, 60% of business executives believe they have a right to know how employees portray themselves and their organizations in online social networks and 74% believe social networks make it easier to damage a company's reputation. <br /><br />However, 53% of employees (and 63% of 18 to 34 year olds) say their social networking pages are not an employer's concern.<br /><br />More here:<br />http://www.accountingweb.com/topic/cfo/can-facebook-make-you-better-learnerMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-40518776548210260802009-11-10T09:58:00.002-06:002009-11-10T10:02:32.483-06:00Centennial Membership Retreat This Week Closes Out Great Year!Since January, MSCPA members have been celebrating the 100th year anniversary of the society. It's been a great year...with an enhanced convention, chapter celebrations, the centennial ASSET in Jully, and the centennial website.<br /><br />This week brings the year of celebration to a close with the Centennial Membership Retreat in Key West, Florida. The group of almost 70 will gather to commemorate our history and celebrate our future as a profession!<br /><br />If you haven't yet had a chance to review the official centennial website, please take a few minutes to read through it. <br /><br />And happy birthday MSCPA! <br /><br />www.mocpa100.orgMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-31841433449036594182009-11-04T12:37:00.002-06:002009-11-04T12:41:21.949-06:00Digital ASSET and CPE Catalog!Don't you just love technology? <br /><br />MSCPA has taken advantage of some new technology and now offers its bi-monthly magazine, The ASSET, in a digital form. <br /><br />We have also condensed down the 2009 CPE Catalog to the remaining classes this year and provided it in a digital format as well!<br /><br />There are a number of advantages to this new format including:<br /><br />• Easy navigation and readability<br />• Keyword search capability<br />• Forward to a friend or through your social media network<br />• Desktop shortcut<br /><br />Check out the new November issue at: <br />http://theasset.dirxion.com/<br /><br />Check out the CPE Catalog at:<br />http://mscpa.dirxion.com/cpe/<br /><br />Let us know what you think about these new digital publications!Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-19139195054002263532009-10-28T14:43:00.002-06:002009-10-28T14:46:59.903-06:00Young CPAs Social Networking Opportunities!Join your fellow young professionals (35 and under) for a night of speed networking over cocktails! <br /><br />In a fun and relaxed atmosphere, you will meet other young CPAs across business and industry and public practice, and gain valuable business contacts. CPA candidates welcome!<br /><br /><strong>Date: Wednesday, November 18, 2009 <br />Time: 4:30-6:30 p.m. <br />Fee: $10 members; $15 nonmembers<br /> Includes drink tickets and hors d’ oeuvres<br /> Free parking at all locations</strong><br /><br /><em>Locations:</em><br />St. Louis - Cardwell's in Clayton<br />Kansas City - 2000 Grand (2nd floor of The Cashew)<br />Springfield - Springfield Brewing Co.<br />Columbia - The University Club<br /><br />Take this opportunity to build professional relationships that can turn into resources, referrals, clients and friends!<br /><br />To register go to: http://www.mocpa.org/Content/22823.aspx<br /><br />If you have any questions, please contact Holly Matthews at hmatthews@mocpa.org or 800.264.7966.Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-89470751390004477802009-10-21T08:27:00.003-05:002009-10-21T08:32:48.118-05:00MSCPA Member Colleen Conrad Talks About IFRS & Practice MobilityIn Friday's edition of The St. Louis Business Journal, MSCPA Member Colleen Conrad shares perspectives on IFRS and mobility. <br /><br />Conrad is an active leader with the MSCPA and AICPA, as well as the Missouri State Board of Accountancy. Currently, she serves as national chair for AICPA's Board of Examiners.<br /><br />Read more here:<br />http://stlouis.bizjournals.com/stlouis/stories/2009/10/19/focus5.html?b=1255924800%5e2275581&s=industry&i=accounting_consultingMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-12969288133114714072009-10-14T09:06:00.001-05:002009-10-14T09:07:54.615-05:00Does Your Missouri Small Business Know About Potential Loans?A low-interest loan program for small business has received a make-over. The State Treasurer worries not enough Missouri small businesses know about it.<br /><br />Lawmakers approved the Invest in Missouri program this past session, which contained provisions to broadened the Missouri Linked Deposit Program. More money is available. More small businesses qualify.<br /><br />Now, more need to know about it, says State Treasurer Clint Zweifel.<br /><br />“We do know that 75% of all job growth in the state during an economic recovery is going to be job growth that is coming from small businesses,” says Zweifel. “So, this is a great program that touches those businesses, helps them save money when they borrow money, helps them re-invest in the people in the state.”<br /><br />http://www.missourinet.com/2009/10/10/27825/Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com3tag:blogger.com,1999:blog-1833666954653010995.post-86973836387775196242009-10-07T14:20:00.001-05:002009-10-07T14:22:30.125-05:00CPA Exam To Undergo EvolutionJanuary 1, 2011 is officially the date that has been approved by the AICPA Board of Examiners (BOE) for the introduction of what will, in effect, be a new Uniform CPA Examination –an examination transformed in structure, content, and format, and supported by enhanced technology. <br /><br />CBT-e implementation will be important for CPA candidates, all examination stakeholders, and the profession as a whole.<br /><br />http://www.cpa-exam.org/download/CBT-e-Launch-Announcement-9-25-09.pdfMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com1tag:blogger.com,1999:blog-1833666954653010995.post-58665367319346633982009-09-30T08:17:00.001-05:002009-09-30T08:19:53.107-05:00Sample Social Networking Policy<em>IT Business Edge</em> published a social media and social networking policy on its website. Your company may want to consider adding a policy to your employee handbook.<br /><br />1.Personal blogs should have clear disclaimers that the views expressed by the author in the blog is the author’s alone and do not represent the views of the company. Be clear and write in first person. Make your writing clear that you are speaking for yourself and not on behalf of the company.<br /><br />2.Information published on your blog(s) should comply with the company’s confidentiality and disclosure of proprietary data policies. This also applies to comments posted on other blogs, forums, and social networking sites.<br /><br />3.Be respectful to the company, other employees, customers, partners, and competitors.<br /><br />4.Social media activities should not interfere with work commitments. Refer to IT resource usage policies.<br /><br />5.Your online presence reflects the company. Be aware that your actions captured via images, posts, or comments can reflect that of our company.<br /><br />6.Do not reference or site company clients, partners, or customers without their express consent. In all cases, do not publish any information regarding a client during the engagement.<br /><br />7.Respect copyright laws, and reference or cite sources appropriately. Plagiarism applies online as well.<br /><br />8.Company logos and trademarks may not be used without written consent.<br /><br />http://www.itbusinessedge.com/cm/docs/DOC-1257Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-65813446618020135732009-09-23T14:44:00.000-05:002009-09-23T14:45:05.479-05:00Need Assistance During Upcoming Tax Season?If your firm needs part-time help during the upcoming tax season, place your opportunities for FREE on the MSCPA Career Center! Your postings will be promoted to MSCPA’s nearly 9,000 CPA members throughout Missouri. Interested applicants will then apply directly to your postings online. <br /><br />To post your FREE part-time opportunity, scroll down to the last package:<br />http://careers.mocpa.org/rates.cfmMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-83507351992917220272009-09-15T14:23:00.002-05:002009-09-15T14:26:27.459-05:00New! Digital Version of The ASSETMSCPA is proud to announce that every other month, we will publish our normal print magazine AND a new interactive, digital version!<br /><br />The new digital ASSET offers a number of enhanced tools, including:<br />• Easy navigation and readability<br />• Keyword search capability<br />• Forward to a friend or through your social media network<br />• Desktop shortcut<br /><br />Check it out at:<br />http://theasset.dirxion.com<br /><br />MSCPA members will continue to receive both the printed and online versions of the ASSET. <br /><br />If members are feeling a bit frugal (what CPA doesn't?) and wants to save a tree, they can choose to receive the digital version only.<br /><br />To subscribe to the digital version ONLY, click below. (You will be unsubscribed from the printed version)<br />http://www.mocpa.org/Content/22816.aspxMissouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com1tag:blogger.com,1999:blog-1833666954653010995.post-21889206417955075712009-09-10T09:06:00.003-05:002009-09-10T09:08:18.953-05:00Welcome Message From MSCPA ChairMSCPA Chair Ed Scavone took the leadership reigns of MSCPA on July 1. Recently, he sat down and took a few minutes to welcome the members of the society to the new year, talk about the centennial, and the importance of unifying as a profession going forward.<br /><br />Check out the video:<br />http://www.mocpa.org/Content/files/videos/edscavone.wmv<br />(3 minutes)Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-11811411596466332152009-09-02T13:19:00.002-05:002009-09-02T13:23:33.244-05:00Are You In Compliance With Missouri's Data Breach Laws!Missouri Governor Jay Nixon recently signed House Bill 62, which enacts data breach notification laws for Missouri businesses (businesses in Missouri as well as those which do business with Missouri residents). <br /><br />Attorneys at Husch Blackwell Sanders have summarized the provisions of this law. Their summary can be found at:<br /><a href="http://www.huschblackwell.com/images/eblastgraphics/Identification_Security_Bulletin_Legal_Update.pdf">http://www.huschblackwell.com/images/eblastgraphics/Identification_Security_Bulletin_Legal_Update.pdf</a><br /><br />The bill became effective on August 28. <br /><br />The relevant sections of the House Bill 62 can be found at:<br /><a href="http://www.huschblackwell.com/images/eblastgraphics/missouri_data_breach_notification_law.pdf">http://www.huschblackwell.com/images/eblastgraphics/missouri_data_breach_notification_law.pdf</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-32664693293005920942009-08-27T11:19:00.003-05:002009-08-28T08:56:48.892-05:00Hear More About The Economy From MSCPA's EconomistThis morning, MSCPA Economist Chris Kuehl addressed more than 50 CPAs about the state of the economy. His lively session helped CPAs in Missouri learn more about our country's economic recovery and what they can do to strategize during these trying times.<br /><br />Kuehl summarized his thoughts in this special video (20 minutes)<br /><a href="http://www.mocpa.org/content/files/videos/chrisk.wmv">www.mocpa.org/content/files/videos/chrisk.wmv</a><br /><br />All MSCPA members receive daily updates from Chris Kuehl through the MSCPA Business Intelligence Brief. Learn more here:<a href="http://www.mocpa.org/Content/22593.aspx"></a> <a href="http://www.mocpa.org/Content/22593.aspx">http://www.mocpa.org/Content/22593.aspx</a><br /><br />If you would like to subscribe to the MSCPA Business Intelligence Brief, send an email to <a href="mailto:dhull@mocpa.org">dhull@mocpa.org</a>.Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-84073755696187208082009-08-19T09:43:00.000-05:002009-08-19T09:45:51.528-05:00Missouri Jobless Rate StableThe Missouri economic development department says Missouri's unemployment rate held steady last month. But the department is reluctant to say much about a trend.<br /><br />The 9.3 percent rate, 278-thousand jobless Missourians still eligible for benefits....and about the same as the seasonally-adjusted figures for June, still the highest in a quarter-century.<br /><br />But employment gains are reported in durable goods manufacturing, and increases are reported in our two biggest cities which have been losing jobs for months.<br /><br />Read more at Missourinet:<br /><a href="http://www.missourinet.com/gestalt/go.cfm?objectid=2FFC48D1-5056-B82A-37F446BE01CFD3AB">http://www.missourinet.com/gestalt/go.cfm?objectid=2FFC48D1-5056-B82A-37F446BE01CFD3AB</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-91365344306608371572009-08-12T10:06:00.003-05:002009-08-12T10:15:04.125-05:00Check Out MSCPA's Social Technology Efforts!The society is stepping up its efforts in social media. In addition to this blog, the society has a twitter feed, which is followed by 250 people, five Facebook pages, a LinkedIn page, and weekly podcasts.<br /><br />If you haven't yet taken a few minutes to join or follow the society's social media efforts, please do so. It's a great way to stay connected to others in the profession and learn more about specific issues and events related to CPAs in Missouri.<br /><br />Twitter:<br /><a href="http://twitter.com/missouricpas">http://twitter.com/missouricpas</a><br /><br />Facebook (this is the general group--search for groups for St. Louis Chapter, Kansas City Chapter, Young Professionals, and Business & Industry):<br /><a href="http://www.facebook.com/group.php?gid=68450650368">http://www.facebook.com/group.php?gid=68450650368</a><br /><br />LinkedIn:<br /><a href="http://www.linkedin.com/groups?homeNewMember=&gid=1931425&trk">http://www.linkedin.com/groups?homeNewMember=&gid=1931425&trk</a>=<br /><br />Weekly Podcasts:<br /><a href="http://www.mocpa.org/Content/22626.aspx">http://www.mocpa.org/Content/22626.aspx</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-30164727788610202562009-08-05T09:00:00.003-05:002009-08-05T09:03:40.969-05:00CPA Mobility...Now In 45 States!While Missouri was one of the first states to enact mobility legislation, many other states have stepped up and passed their own mobility provisions over the past couple of years.<br /><br />The AICPA sent a press release last week reporting that 45 states have successfully passed interstate practice mobility making it easier for CPAs to practice across state lines.<br /><br />How does this affect your firm?<br /><br /><a href="http://www.aicpa.org/download/news/2009/WITH-45-STATES-ENACTING-CPA-PRACTICE-MOBILITY-LAWS.pdf">http://www.aicpa.org/download/news/2009/WITH-45-STATES-ENACTING-CPA-PRACTICE-MOBILITY-LAWS.pdf</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-40419046292925581712009-07-29T09:04:00.001-05:002009-07-29T09:05:43.827-05:00Accounting Remains Hot Career Choice!The number of students who graduated with accounting degrees in the 2007-08 school year surpassed the previous year’s record level, according to a new report by the AICPA.<br /><br />More than 66,000 achieved bachelor’s and master’s degrees in accounting, 3.5 percent higher than in 2006-07.<br /><br />This represents the largest number of graduates since 1972, the year the AICPA began tracking the data, according to the report, <em>2009 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits.</em><br /><br /><a href="http://www.aicpa.org/download/news/2009/ACCOUNTING-DEGREES-CONTINUE-HISTORIC-UPWARD-TREND.pdf">http://www.aicpa.org/download/news/2009/ACCOUNTING-DEGREES-CONTINUE-HISTORIC-UPWARD-TREND.pdf</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com4tag:blogger.com,1999:blog-1833666954653010995.post-25910396035111680392009-07-22T10:02:00.001-05:002009-07-22T10:05:34.444-05:00Tax Options In Health Care Reform DebateFunding health care reform, which the Congressional Budget Office (CBO) has estimated will carry a $1 trillion price tag, will involve both cost saving measures and tax increases according to <a title="Prescription for Change: Tax Issues in Health Care Reform" href="http://www.deloitte.com/dtt/cda/doc/content/us_tax_7719_Carroll_TaxinHealthcareReformDebate_v5062409%281%29.pdf" target="Linkpage" jquery1248274897670="39">Prescription for Change: Tax Issues in Health Care Reform</a>, prepared by the Tax Policy Group of Deloitte Tax LLP in Washington, D.C. and reported by <em>AccountingWeb</em>.<br /><br />The report does not define the debate or predict the outcome, but identifies areas where tax issues will arise.<br /><br />Tax options directly related to health care have been prominent in the debate so far, but President Obama suggested tax reforms unrelated to health care as sources for funding reform in his FY2010 budget, and the funding debate may extend beyond taxing for health care.<br /><br />“If Congress abandons any nexus to health care in its search for funding options,” the Deloitte report predicts, “then business and individual tax issues could be drawn into the discussion.”<br /><br />Daunting as the prospect of reform may be, the case for health care reform is strong, the authors say.<br /><br />The CBO estimates that health care costs will reach 20 percent of the gross domestic product by 2017.<br /><br />The costs of Medicare and Medicaid alone, which consumed more than 20 percent of the federal budget in 2007, will “represent a serious threat to the fiscal health of the country.”<br /><br />Forty seven million American are uninsured and 25 million are underinsured.<br /><br />More here:<br /><a href="http://www.accountingweb.com/topic/tax/tax-options-health-care-reform-debate">http://www.accountingweb.com/topic/tax/tax-options-health-care-reform-debate</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com0tag:blogger.com,1999:blog-1833666954653010995.post-52727057812028574422009-07-15T08:36:00.001-05:002009-07-15T08:39:46.702-05:00Is Client Retention Your Biggest Concern?According to the AICPA's 2009 CPA Firm Top Issues Survey, the most significant challenge facing CPA firms of all sizes across the nation today is client retention.<br /><br />This certainly indicates how the economy is affecting business practices for accountants and other professional service providers.<br /><br />The CPA Firm Top Issues Survey gathers information from a wide range of practitioners in five different size segments from sole practitioner to firms with over 21 professionals in an effort to get a snapshot of the most critical challenges facing AICPA members.<br /><br />Marketing and practice growth reappeared in the AICPA's Top 5 issues list for the first time since 2005 across all five of the firm sizes that were surveyed.<br /><br />Technical training standards and succession issues also topped the 2009 list. The top issues varied by firm size.<br /><br />After client retention, tax law complexity and changes were top concerns for sole practitioners while partner accountability and succession planning are top issues for firms with more than 20 professionals.<br /><br /><a href="http://www.aicpa.org/download/news/2009/Client-Retention-CPA-Top-Issues-Survey.pdf">http://www.aicpa.org/download/news/2009/Client-Retention-CPA-Top-Issues-Survey.pdf</a>Missouri Society of CPAshttp://www.blogger.com/profile/10263020832985630873noreply@blogger.com1