JANUARY Features  


  The CPA Journal Millennium Series

  The Future of Public Practice:
  Two Perspectives

  Interviews with Gerry L. Golub and Stephen G. Butler
  By James L. Craig, Jr. 

  Two leaders from different perspectives--Gerry L. Golub, chair of American Express Tax and Business Services, and Stephen G. Butler, chair and CEO of KPMG LLP and chair of KPMG International--discuss what the future holds for the profession. The prospects look bright for public accounting, but the regulators will be watching.(Article), (Article)


  Making Sense of the Medical Savings Account
  and MedicarePlus Choice MSA
  By Cynthia Bolt-Lee

  The medical savings account (MSA) and MedicarePlus Choice MSA are approaches to health care payment that use a high-deductible insurance policy and a tax-free investment account. MSAs can benefit individuals with low health care costs, but, due to complex rules, risks, and qualifying limitations, the programs have yet to catch on. (Article)


  Lease Compliance Review: An Emerging Trend in Client Services
  By Donald F. Mokrauer, Alan Aronow, and Ann B.R. (Tuny) Mokrauer

  Many organizations may be unwittingly paying more than their leases require. Commercial leases are complex and errors often go unnoticed. CPAs are well-suited to examining their clients' or organizations' leases and finding significant savings. Lease compliance review is an emerging practice field that draws upon the profession's core competencies and values. (Article)


   Court Rules Bad Contract Does Not Equal 'Inurement'

  By Roy Whitehead, Jr., Pam Spikes, and Joan Pritchard

  The fund-raiser collected nearly $19 million. The charity received only $2.3 million. The IRS claimed this was proof of private inurement, but the Tax Court decision was overturned on appeal. The Appeals Court ruling supports current nonprofit practices and provides a lesson in the tax definition of "inurement." (Article)


  The Role for Web Search Engines
  By Ingrid E. Fisher and L. Murphy Smith

  The Internet holds a wealth of valuable information. The challenge is finding it. Search engines are critical in sorting the online wheat from the chaff but are riddled with flaws and peculiarities. Knowing how they work is the key to finding what you want--and being found. (Article)


  Transfers of Assets to a Not-for-Profit Organization 
  That Raises or Holds Contributions: SFAS No. 136 
  By John Stephen Grice, Sr., and Thomas A. Ratcliffe

  Not-for-profits often use intermediaries, such as foundations, for fund-raising. This raises the issue of how and when revenue should be recognized by the not-for-profit. FASB Interpretation No. 42 was a half-hearted attempt to deal with the issue; now SFAS No. 136 makes the accounting clear while providing some flexibility. (Article)


  JANUARY Departments  
   Fifty reasons for the decline in the quantity and quality of accounting majors (Article)
  Accountant's Liability

   N.Y. Court of Appeals rules post-employment restrictive covenants enforceable (Article)

  The CPA in Industry

   The newest technology tools: (un)limited access? (Article)

  Federal Taxation
   Charitable remainder annuity trust or charitable gift annuity (Article)
   Personal Financial Planning

  New York College Savings Plan hazards (Article)

   Estates and Trusts

  Reporting foreign transfers: recent developments affect U.S. donees (Article)
  IRS wants to relitigate two percent deduction issue (Article)

   Employee Benefit Plans

   Self-correction of qualified plans without IRS approval (Article)

   The CPA and the Computer

  What new: Timeslips version 9, Quickbooks Pro 99 (Article)

JANUARY  News & Views

   The future according to Golub and Kessler
   Editorial Board Millennium Survey Results
   Things are not right in consolidatorville 
   AICPA to honor business and industry CPAs    
   Comparative analysis of U.S. and international standards updated
   Staffing, marketing remain top concerns
   Web-based tax filing on the horizon
   IASC resolves to change structure: SEC plays leading role 
   Social Security values and qualified plan limits, 2000
   Ernst & Young allies with D.C. law firm
   Women partners cross 10% level at large firms
   Does employee ownership really make a difference? 

  Coming SOON  

   Self-employed taxpayers and the home office deduction
   Accountants and financial planning

   Eldercare services

Personal Financial Planning
   Investing in the S&P 500 index
State and Local Taxation
   The challenges of dealing with S corporations
Federal Taxation
   Recent deductions allow for faster depreciation

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The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other
 accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments. 

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