The National Public Accountant

The monthly journal of the National Society of Public Accountants. Articles cover industry trends, regulations, legislation, and current issues affecting the practice of public accountancy.

Articles from Vol. 46, No. 9, November

AMT: The Middle Class Predator
This article discloses the profound inequities that are inflicted upon unsuspecting middle class taxpayers by the Alternative Minimum Tax (AMT). The cases discussed arc based on the lives of real people. Before we begin, 1 would like to dispose...
Be Alert to the Signs of Employee Internet Addiction
For years, addictions such as alcohol, drugs, and gambling were the addictions that concerned employers because they affected employees' work. These days there's a new addiction that's running rampant, and your employees may be feeding their habit...
Conditioning Your Work Environment
To the frontier man, life was a rifle. Today, especially to entrepreneurs, life is a desk. Your desk has to be a comfortable place for you. What does it say if your desk is continually a mess? The quality and ambience of your work space works best...
Interviewing for Leadership Positions. (Today's Accounting Manager)
The ability to interview well is always valuable, hut when you're vying for a leadership position within an accounting firm, it's absolutely essential. Your strengths in communicating ways you can contribute to achieving an organization's goals will...
Managing Risks at the Enterprise Level
The management of firm specific risks represents one of the most important functions performed by any company. Failure to appropriately manage these risks can lead to short-term business interruptions, lost opportunities and in the extreme, the bankruptcy...
Questions to the Tax Desk
Q. Can an LLC pay salaries to its members? A. This is one of our most frequently asked questions. An LLC can pay salaries to members if it has filed a Form 8832, electing to be treated as a corporation for tax purposes. The IRS will generally return...
Section 529 Prepaid Tuition and Savings Plan
During the last decade, most states passed legislation concerning college savings plans. There are two general types: prepaid tuition plans and tuition savings plans. Prepaid tuition plans allow individuals to buy tuition credits now for a beneficiary...
The Real Property: The Personal Property Distinction
The tax law makes a major distinction between the treatment accorded to property used in a taxpayer's trade or business based upon whether the property is classified as real or personal property. Generally it is preferable that the asset be classified...
The Rising Cost of Medical Care: How Small Businesses Can Utilize Section 125 to Combat Growing Health Care Costs
The cost of medical care in the United States is rising faster than the General Consumer Price Index (CPI). According to the Bureau of Labor Statistics, between July 1992 and June 1998, medical care inflation exceeded the general CPI by 10.97 percent....
VEBA: An Underutilized Planning Tool
If you could design the perfect benefit plan for your business owner clients what would it include? How about: * Contributions would be tax deductible and grow tax deferred; * Contributions could be almost unlimited and could be made in addition...