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JANUARY Features
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The CPA Journal Millennium Series
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Tiptoeing through the Nexus Minefield
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By Mark S.
Klein,
Timothy P. Noonan, and
Andrew B. Sabol
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As traditional retailers
launch their own dot-com enterprises, they will be under
increasing scrutiny by state tax authorities looking to
maintain revenues. The nexus rules that determine whether an
entity is subject to a taxing jurisdiction are fraught with
complexities, and the penalties for avoiding them can be
severe. Careful attention in he form of arm's-length
licensing agreements or separate customer services can help
ensure that the 'click-and-mortar' retailer avoids costly
attributional nexus. (Article)
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| Ethical Issues in Tax Practice:
Recent Changes in IRS
Enforcement Activity
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By Lawrence C.
Phillips and
Kay W. Tatum
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The audit rate at the IRS
may have declined, but enforcement has by no means
stopped. Tax practitioners are obligated to make
taxpayers aware of the significant penalties possible for
those tempted to 'roll the dice.' (Article)
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| Strategies for Income
with
Respect to a
Decedent
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By Mark
W. McGorry
and Stephen D. Lassar
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The tax-deferral strategies
used to plan for retirement might also, upon death, leave
beneficiaries liable for taxes on income with respect to
decedent (IRD). to maximize total savings, financial planners
must consider a broad array of techniques and balance
financial objectives. (Article)
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| What the Accountant Must Know
About Data Warehousing
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| By Marc Levine and Joel Siegel
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A data warehouse aggregates a vast
range of information stored throughout an organization and
transforms the data so it can be easily compiled
and queried by decision makers. these powerful tools can unlock the
value of an organization's cumulative operational data
and yield smarter strategic decisions. (Article)
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| Improving Financial Performance
Through Benchmarking
and Best Practices
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By Susan J. Leandri
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CPAs can leverage their
expertise in analyzing quantitative information to move
beyond presenting financial data 'as is' and take a more
active role in achieving financial performance as it
'should be.' When used together, benchmarking and best
practices can explain the 'why' behind the numbers and turn
reporting data into actionable knowledge. (Article)
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