A Clear Look at Tax Software
2007 Annual Survey of New York State Practitioners

By Susan B. Anders and Carol M. Fischer

MAY 2007 - The results of the 2007 annual survey of New York State tax practitioners indicate that respondents are generally satisfied with tax compliance and research software, although ratings declined moderately compared to prior years. This is probably because this year’s survey respondents included more small firms and more respondents who are directly involved in tax preparation and day-to-day use of software. Survey participants generally report using the most-popular tax software products, although smaller firms may be relying on the lower-cost options.

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Publisher's Column

Forensics Litigation Support and Risk Management for Pretrial Discovery of Electronically Stored Information

Most organizations are eventually involved in litigation, and the increasing frequency of litigation often requires litigation support and careful records management. Familiarity with electronic data discovery (EDD) is necessary to conduct internal investigations, as well as to identify and disclose electronically stored information (ESI) to litigation opponents, regulators, or prosecutors. Many potential parties to a lawsuit are not knowledgeable about electronic records management (ERM) practices or their legal obligations when served with a discovery request. Accountants often serve important roles in litigation support and as expert witnesses. Indeed, Deloitte and KPMG are among the top 10 EDD service providers. Full Story

Should Non-CPAs Be Allowed to Co-Own CPA Firms?

Pop quiz: What percent of a CPA firm must be owned by CPAs? As with many CPA-practice issues, the answer depends on where you live. In New York State, 100% of a CPA firm must be owned by CPAs, but New York is an exception to the general rule. Most states have enacted a version of the Uniform Accountancy Act (UAA), which requires that a simple majority interest in a CPA firm be held by CPAs. In those states, non-CPAs can own up to 49% of a CPA firm.Full Story

Welcome to the World of Web 2.0

Over the past 10 years, most professionals have probably become acclimated to using the World Wide Web—e-mailing colleagues and clients, using search engines to verify information, downloading forms from the IRS’s website. If all of these common activities could be considered version 1.0 of the web, then the newest technologies could be called “Web 2.0.” Full Story

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