PRACTICAL ACCOUNTANT VOL. 32 , NO. 4 , 1999 35 Comfort Zone for Single- Member LLC Conversions Tax consequences of single- member LLCs conversions are now more predictable Michael G. StcvcHS
6 Practitioner's Update Tougher Audit Committee Rules Proposed ... Likely Deals Heat Up Consolidation Scene ... What Do Employees Want?... Disadvantages to Mergers and Acquisition ... Is
the Commission Route Right for You? ... AICPA Retooling Its CPE ... Savvy Seminar Set-Up Specifics ... Dewing Taxes; The Next Generation... and more
14 Tech News Ensure An IT Payoff... Counting Down to Y2K ... Lacerte Founder Joins Software Board
16 Internet Connection A Working Virtual Practice ... Office of Governmentwide Policy 18 Tax Alert Tax-Exempt Status OK Despite Fundraiser's Contract... Loan Settlement Not Under Contested
Liability Exception
22 Tax Briefs 24 Financial Planning Hidden Dangers Of Employee Stock Ownership ... The Right Money Manager... Piecemeal Engagement and the Older Client
39 Inside the IRS IRS Can't Count, Charges GAO ... Taxpayer Assistance Requests Top Quarter Million .... Private Sector and IRS Joint Efforts Increasing ... and more 42 Accounting & Auditing Report
EASE Proposes When Entities Should Be Consolidated... Managing Information Technology Risks... Technical Corrections Cleanup... A&A Briefs
48 Retirement Plan Report Plan Loan/ Distribution Was Prohibited Transaction... Final Roth IRA Rules Out ... Walk-In Cap Internal Procedures Released ... and more
43 Classified Advertising
46 The Web Directoiy
_____________________________
PRACTICAL ACCOUNTANT
VOLUME 32, NUMBER 5, MAY 1999
Table of contents
Cover Story
Grow or Die 30
Experts show how to survive
andflourish in today's competitive
environment.
Features
Singled Out 38
Stop dabbling infinancial planning
for the unattached; tailor
a new approach.
SPECIAL REPORT: GPAS and
Software Vendors Win With
Reseller Programs SR-1
Following page 41
Plotting Financial Courses 42
Software is boldly going beyond
spreadsheets to projections.
Compelling Real Estate insights 47
Every situation where clients own
property should be reviewed.
Practice Profile 56
Ahead of the Curve
Departments
Editor's Note 4
New Look—Sharper Focus
News Firout 6
A Real Look at Fraud
SEC to ISB: Move Faster!
Trusted Profession at the Brink
Loan Syndicate Purchaser Sues
Trouble with Government Books
And More
Tax Briefin 14
No Deduction for Acquisition Costs
Global Netting of Interest Clarified
Lease-in/Lease Outs Hit Hard
And More
IRS Briefing 18
EFTPS Threshold Raised
Improved Offer in Compromise Program
Chances of Being Audited
And More
financial Planning 20
Pay Attention to Disability
Focus on... Spiders
IAFP and ICFP Boards Approve Merger
Sending IRD to Charity
And More
Tech Bulletin 24
A New Image for Accounting Systems
Defending Against Melissa-Type Viruses
Net Tools: Hoover Sweeps Up
Litigators Searching E-Mail
And More
Accounting & Auditing Report 28
Stock Options and Cash Flow Addressed
Business Combination Guidance
A&A Watch
And More
Products & Services Showcase 58
web Directory 60
Last word 64
William L. Reeb, CPA, strategic planner, and
chair of the AlCPA's Consulting Services
Executive Committee, looks at two diametrically
opposed approaches to consulting.
_________________________________
PRACTICAL ACCOUNTANT
VOLUME 32, NOUMBER 6, JUNE 1999
Cover Story
in the Know 34
Getting in on the ground floor of knowledge
management.
Features
SPECIAL REPORT: A Peek at the
Future — Technology for the
21st Century SR1
Following page 36
Keep the Separation 41
As more nonprofits develop for-profit
subsidiaries, proctitioners must ensure the
proper partition.
Tax Tool Time 47
Internet is outpacing print and beginning to
Jorce out CD-ROM5.
Ready to Make Deals 91
The IR5 is making it easier to settle tax
delinquencies.
Right Direction, Rut
Objectivity Lacking 55
The AlCPAs plan to change CPE has some
serious deficiencies.
J. Lowdl Mooney and William J. Bostwich
Tripped up by Life
insurance Loans 59
If borrowing against a policy, watch for
tax traps.
Practice Profile 64
Placed Out On Ledger Sheets
Department
Editor's note 4
New Reality
News Front 6
There's A New Consolidator in Town
Oversight Board Evaluates Audits
Spending on Motivation
Comparing State Tax Liability
AICPA Supports International Standards
And More
Tax Brifiling 14
Clinton's Savings Account Plan Unveiled
Disability Extension Needs Doctor's Note
Retainer Fee Loses Deductibility
Gain on Appreciated Stock Taxable to Donors
And More
lRS Briefing 18
E-Filings Way Up
New Complaint Line Forming
E-Filings by Tax Professionals
401(k) Contributions Not for Qualified Research
And More
Financial Planning 24
Bare of Bear Experience
Focus on ... Variable Annuities with Guaranteed
Benefits
An SEC Calculator
More Year 2000 Concerns
Receptive, But Naive
And More
Tech Bulletin 28
E-Mail Policy Protection
Net Tools: Reports, Please
You've Got Too Much Mail
And More
Accounting & Auditing Report 32
Pooling of Interests Accounting to End
Changes tor Governmental Statements
Direct Loans and Guarantees
And More
Producti & Services Showcase 67
Web Directory 69
Last Word 72
George S, Willie, managing partner of the
Washington, D.C. accounting firm of Bert
Smith A On r.hallfinnp!R firms to nn after
__________________________________
PRACTICAL ACCOUNTANT
VOL. 32, NO. 1, JANUARY 1999
FEATURES
20 Getting into
retirement plan
administration
27 changing the direction of CPE
31 Poised for Profits
In E-Commerce
E-commerce is about to
explode. Here's how you
34 Investment Planing:
Broker/Dealer
AChanging the Direction of CPE
As the profession evolves, so goes CPE—at least if th
AICPA and online CPE providers have their way.
Michael G. Stevens
6 Practitioner's Update
Tactics for Competing in a
Consolidating Market ... Using
Accounting Students to Meet
Clients' Needs ... Salaries Up
Again... Fixing a Price? Start
Asking Questions ... and more
12 Tech News
Pay Now, Not Later for Tech
Training ... Six Keys to Start
Technology Consulting... ITA
Merges with Tech Business Alliance
Meeting of the VARs ... Vendors
Go to Microsoft SQL 7.0
14 Internet Connection
Keeping Your Site Alive and Well
Financial Systems Forum
16 Tax Alert
Another Six-Month Extension for
Required Electronic Deposits...
Investment Income Limit Eased for
Earned Income Credit ... "Blue
Book" Explaining 1998 Tax
SR-1 Special Report
Personal Financial Planning:
Bankrolling the Future
(Following Page 16)
18 Tax Briefs
37 Inside the IRS
lRS Employees Steal Millions ...
100,000 Taxpayers Have Refunds
Coming ... New MSSP Audit
Guides ... Only 13% of Unpaid
Assessments Are Really Collectible
IRS Briefs
38 Financial Planning
Florida State Society Takes CPAs
in New Direction ... International
Planning Organizations Increase
Cooperation ... The Best Mutual
Fund Web Sites
40 Retirement Plan Report
Additional Roth IRA Guidance
Issued ... Retirement Plan Briefs
41 Classified
Advertising
44 The Web Directoly
48 Profit Statement
Seeing The Forest And
The Trees
Stuart Kaban
__________________________
PRACTICAL ACCOUNTANT
VOL. 32, NO. 7, JULY 1999
Cover Story
A Quick Start 34
Turnkey programs provide that instant
entty into investment services.
Features
SPECIAL REPORT: Main Street
Goes Online SRI
Following page 51
Assault on immediate
Deductions 43
Hard line by lRS isn't limited to
lNDOPCO.
How Big a Gut? 53
The opportunities/or reseHers and
recommenders are using, but there a re
factors to consider.
Motivate the Slow Payers 61
5ome clients don't pay on time: here's
what else. you can do.
Make Headlinesi 65
The press release remains an effective
way to market.
Hew, Heed Proteotion 69
Risk of being sued exists in traditional
areas, lnit in new areas there is concern
about insurance coverage.
Prospecting for Clients 73
Maying telemarheting workfor you.
BruceJ. Clark
Practice Profile 76
Money in the Bank
Departments
Editor's Note 4
After the Shock Wears Off
News Front 6
Permitted Services to Attest Clients
AICPA Mulls Non-CPA Firm Compilations
Finding Staff In Unusual Places
Consolidators From Farther Afield
And More
Tax Briefing 14
Time to Recharacterize IRA Contributions
100% Deduction for Cafeteria Expenses
Election Extends Limitations Period
Rental Agreements for Tangible Property Leases
And More
lRS Briefing 17
lRS Reorganization Timetable
Property Seizures, Liens and Garnishments
Audit Rates Off Dramatically
Credit Card Tax Payment Errors
And More
Financial Planning 20
Psychologists Step Forward
Focus on ... Insured Municipal Bonds
Five-Year Averaging Disappearing
And More
Tech Bulletin 26
Next Up: XML
Voice Mail Pitfalls
Knowledge Management Turned Inward
And More
Accounting & Auditing Report 30
Derivatives Standard Delayed a Year
Goodwill Amortization Cut to 20 Years
GASB Forces Reporting of Infrastucture Info
And More
Products & Services Showcase 79
Web Directory 82
Last Word 84
Sandra A. Abalos, a partner in the Phoenix, Ariz.
accounting firm of Abalos & Associates,
urges accountants to become advocates for
their clients.