Employee Benefits/Tax
BIG CHANGES, BIG BENEFITS
George Taylor
The 2001 tax act made significant changes in pension and retirement plans: increased contribution limits, less stringent rollover rules, higher benefit limits for employers and greater incentives for companies to set up retirement plans. These new rules will keep CPAs busy helping clients and employers implement the changes.

TAX REFORM ALTERS ESOP LANDSCAPE
Bryan Girard
Employee stock ownership plans provide tax incentives and are effective components of employee benefit programs for companies that participate in them. In this article CPAs will learn about recent tax-law revisions governing the combined use of ESOPs and 401(k) plans, raising contribution limits and imposing greater restrictions on S corporations so they can advise clients on the changes.

Careers
FROM FIRED TO HIRED
John Lewison
On the stress scale, losing a job is one of life’s great traumas. Whatever the cause of the loss, outplacement support—in any of its forms—is a resource displaced CPAs and other employees can use to adapt and bounce back.

Consulting/Practice Management
HELP CLIENTS TAKE MEASURE
Edward Gregory and Roslyn Myers
Developing and monitoring performance benchmarks for clients’ businesses is a practice opportunity for CPAs. When employees clearly understand production priorities, they can help the company achieve the financial results it wants.

Technology Workshop
TARGETING SPREADSHEET DATA
Paul L. Bordelon
Excel’s AutoFilter feature can gather together widely dispersed data in a spreadsheet so you don’t have to manually search through the entire file. The tool can save you hours of work.

Internal Audit/Risk Management
RISKY BUSINESS
Lawrence Richter Quinn
Now more than ever companies are concerned about information security risks. Internal auditors can help audit committees identify, assess and address the effectiveness of IT systems and controls as they focus on risk management strategies.

Business & Industry/Tax
IS A SUBSIDIARY IN YOUR FUTURE?
Randy Myers
CPAs can help companies create a separate business entity and profit from the resulting tax savings and strategic opportunities. Here are some considerations CPAs should present to their clients.

The Fraud Beat
CONTROL CASH-REGISTER THIEVERY
Joseph T. Wells
To protect their clients and employers from light-fingered cashiers, CPAs should help managers establish effective cash-handling controls and regularly analyze transaction trends. And when thefts occur, CPAs should know what evidence to collect and how to present it to prosecutors.

Insurance Issues
SIGNS AN INSURANCE PRACTICE IS FAILING
Neil Alexander
Not every insurance practice a CPA firm sets up will be successful. To help avoid long-term problems, CPAs need to be able to spot trouble before it becomes serious.