California CPA articles from November 2001

California CPA archives from November 2001

NO PHASE II CONTRACT.(Shared Services L.L.C.)(Brief Article)
November 1, 2001... The Shared Services LLC did not deliver the Phase II contract as promised in early September. Already behind schedule, the contract's preparation fell further behind following the Sept. 11 tragedies. Clarke Price, CEO of the Ohio Society...

GLOBAL CREDENTIAL GETS NEW MONIKER AND FRANCE SAYS "OUI!".(International Institute of Strategic Business Professionals)(Brief Article)
November 1, 2001... It's not the Institute of Cognitors, nor even XYZ: the new name of the organization that will administer the global credential is the International Institute of Strategic Business Professionals, reports the AICPA. Meanwhile, overseas, the...

USE YOUR CPA SKILLS TO HELP A VICTIM'S FAMILY.(Financial 9-11; financial planning service for U.S terrorist attacks victims)(Brief Article)
November 1, 2001... Financial 9-11 Financial 9-11 is a coalition dedicated to helping the victims and families of the Sept. 11 terrorist tragedy with their ongoing financial planning needs and questions. Through a team of volunteers, the coalition...

AICPA Assistance Effort.(American Institute of Certified Public Accountants financial assistance program)(Brief Article)
November 1, 2001... The AICPA also has developed a financial assistance program and is looking for members with financial planning expertise to help survivors and families of victims with issues such as: * Whether they have enough money to make it through the...

100 YEARS & STILL GOING STRONG.(California Society of Certified Public Accountants)(Brief Article)
November 1, 2001... This fall California's CPA license turns 100. Although Marilyn Monroe won't be crooning "Happy Anniversary," CaICPA is celebrating this milestone in a number of ways. Student outreach, featuring a special magazine and an initiative to bring...

EARN CPE LOCALLY AND SUPPORT SCHOLARSHIPS.(Education Foundation offers classes to California Society of Certified Public Accountants chapters)(Brief Article)
November 1, 2001... The Education Foundation is offering each CalCPA chapter the opportunity to provide its members with an eight-hour CPE class. All of the proceeds will go into each chapter's scholarship fund. The foundation will pay for for all speaker...

GOV. DAVIS SIGNS HISTORIC CPA LICENSING CHANGES.(AB 585 and SB 133)(Brief Article)
November 1, 2001... In October, Gov. Gray Davis signed AB 585 and SB 133 into law, opening the door for new CPA licensing requirements. The CBA has established requirements for two new licensure pathways that will be effective Jan. 1, 2002. Under the new...

NEW ONLINE OPTION FOR PAYING FEDERAL TAXES.(Treasury Department's Electronic Federal Tax Payment System)(Brief Article)
November 1, 2001... Now individual taxpayers can enjoy the convenience of paying all their federal taxes through a secure Web site. Since the Treasury Department's Electronic Federal Tax Payment System (EFTPS) was originally introduced, businesses have used it...

HERDMAN IS NEW SEC CHIEF ACCOUNTANT.(Securities and Exchange Commission appoints Robert K. Herdman)(Brief Article)
November 1, 2001... In October, Robert K. Herdman, CPA, became the SEC's new chief accountant, replacing Lynn Turner, who left in September to join the faculty at Colorado State University. The chief accountant oversees and directs all of the SEC's...

THIEVES GOT YOUR LAPTOP? BOOK 'EM DANNO!(Solagent security software)(Brief Article)(Product Announcement)
November 1, 2001... Grab and go. Unfortunately, the greatest benefit of a laptop computer is also one of its greatest downfalls. But it is possible to protect the data on your laptop, even if it's stolen. With Solagent, you can register online and download an...

AUTOMATIC EXTENSIONS FOR ESTATE TAX RETURNS.(Forms 706 and 4768)(Brief Article)
November 1, 2001... The IRS finalized regulations allowing for an automatic six month extension to file Form 706, Federal Estate Tax Return. The Form 4768 for extensions is still used but no reason need be given in Part II of the form. This form is filed with the...

FORM 1040V.(Mellon Bank Corp. contract cancelled following missing returns)(Brief Article)
November 1, 2001... For the last few years, the IRS has asked taxpayers with a balance due to mail their completed tax returns to a lock box and include Form 1040V. The "V" stands for voucher. The taxpayer was requested to enclose the voucher, check and signed tax...

DOWNLOAD RESULTS OF 2001 MAP SURVEY.(Management of an Accounting Practice Survey)(Brief Article)
November 1, 2001... The results for the 2001 Management of an Accounting Practice Survey are available. If you participated in the survey, you can download the results for free by logging in with the e-mail address and password you used to complete the...

REPORTING FOR TAX BOOT CAMP, SIR!
November 1, 2001... CaICPA's San Diego Chapter will offer its fourth annual Tax Boot Camp Jan. 7-l1--just in time for tax season. The course is designed to bring accountants who have no previous tax season experience up to speed as quickly as possible in the...

AICPA DISTINGUISHED SERVICE AWARD.(American Institute of Certified Public Accountants honors Tom Rimerman)(Brief Article)
November 1, 2001... CaICPA Past President Tom Rimerman has been awarded the AICPA's top honor: the Gold Medal for Distinguished Service. "To receive this honor you must be fully recognized as a 'leader among leaders,' and Tom fully meets that test," says...

COURT PROHIBITS USE OF HISSERICH DECISION.(Franchise Tax Board)(Brief Article)
November 1, 2001... According to the FTB, a recent court action prohibits the FTB from applying the Hisserich decision in determining head of household filing status. In Hisserich, a taxpayer claimed her registered domestic partner's child as the individual who...

UNEMPLOYMENT INSURANCE BENEFITS TO GO UP IN 2002.(Brief Article)
November 1, 2001... California's unemployment insurance benefits will increase by $100 a week for claims filed on or after Jan. 1. The new maximum weekly benefit will rise to 45 percent, not to exceed $330. After the initial increase, the maximum weekly...

MEMBER MILESTONES.(corporate appointments and society news)(Brief Article)
November 1, 2001... ANNOUNCEMENTS In Sacramento, Perry-Smith LLP announces the promotion of Troy Prather to manager within its management consulting practice; also joining Perry-Smith are Peter G. Wiese, as audit manager in the financial institution practice...

Should You Upgrade to Windows XP?(Software Review)(Evaluation)
November 1, 2001... Wondering whether to upgrade to the latest Microsoft operating system, Windows XP? Want to know if Windows XP Professional is a good investment of your time and money, or if XP merely stands for "extra profit" for Microsoft? THE SHORT...

Revolutionaries for Hire.(accounting firms can now recruit from dot-com sector)(Industry Overview)(Statistical Data Included)
November 1, 2001... CPAs Capitalize on Dot-Com Demise Less than a year ago, San Francisco's streets south of Market, home to hundreds of dot-coms, were brimming with young, pierced-and-tattooed professionals swaggering to loft work spaces, soy lattes in...

Natural Fiduciaries.(certified public accountants and fiduciary duties)
November 1, 2001... CPAs Should Carefully Consider the Pros and Cons The roots of modern estate planning are embedded in fundamental human emotions expressed by the ancient folk tale of the grateful dead. The myth takes several forms within a number of...

Talking California Tax.(dissolving a corporation; limited liability companies and inheritance and divorce tax questions)(Brief Article)
November 1, 2001... The Debate Goes On Finding Help for Terminating a California Corporation The alternatives of formally dissolving or simply walking away from a California corporation have generated considerable discussion on the TaxTalk listserve. ...

Seeking Cash.(venture capitalists)(Industry Overview)(Statistical Data Included)
November 1, 2001... So, what Are Venture Capitalists Funding? Venture capitalist have put out a shingle saying, "We've got money, send us your business plans." As a result we get hundreds, even thousands of submissions. Even as I type this, Outlook is...

fast tax facts 2001.(Statistical Data Included)
November 1, 2001... fast tax facts 2001 Special thanks to CalCPA's Committee on Taxation, especially James C. Counts II, CPA, for compiling this information. 2001 TAX DATA SCHEDULE 2001 2001 ...

Strategize!
November 1, 2001... Employment litigation has become an increasingly serious problem, due in large part to recent media attention to huge jury awards that employment cases have garnered. In addition, the wealth of information about employment laws available on the...

Education Relief.(Brief Article)
November 1, 2001... Highlights from the 2001 Tax Act Following are highlights of the educational incentives in the 2001 Tax Act, which will not apply to tax years beginning after 2010. EDUCATION IRAs Annual Contribution Limit: For tax years beginning...

Collect Delinquent Receivables, Keep Your Clients.(Brief Article)
November 1, 2001... Making collection calls can be awkward, embarrassing and confrontational. If poorly handled, you risk destroying long-term, profitable client relationships. Fortunately, you can collect delinquent receivables and keep your valued clients. ...

The Great Debate.(Brief Article)
November 1, 2001... PARTING SHOTS Editor's Note: In most debates, those who open the arguments also are allowed to close. Following are the All-Star Financial Group's closing arguments to "XYZ: The Great Debate" which was published in our October 2001 issue....

IN MEMORY.(Debra Gewerter)(Brief Article)(Obituary)
November 1, 2001... CaICPA member Debra Gewerter passed away Sept. 12. Gewerter was an active member of the American Woman's Society of CPAs-Los Angeles, serving as president from 1996-97. She ran their monthly Westside lunch group, and held many other positions....