Archive for the ‘Blog’ Category

“TurboTax Made Me Do It” is not a valid excuse

26/05/17 8:42 am | Comments (0) | Posted By:

On May 11, 2017, the Tax Court issued a Memorandum Decision (TC Memo 2017-79) that addressed, among other things, the Taxpayer arguing that the software “lured” him into claiming too many deductions on his tax return. There were a number of issues on this return that caught the eye of the IRS: alimony paid deduction, interest deduction, and d...

Accumulate or Spend?

27/07/16 2:05 pm | Comments (0) | Posted By:

When is it time to retire? Is it some set age such as when social security or medicare benefits are available? It’s different for everyone. And people are continuing to work later in life. Why? Maybe because they need to (haven’t saved enough – the recession hit them hard) or maybe because they want to (enjoy what they are doing). The toughes...

High Potential or High Performer. Which One Are You?

10/09/15 2:32 pm | Comments (0) | Posted By:

  I was intrigued by the article “High Performers and High-Potential Employees Are Not One in the Same” , by Andre Lavoie.  So I did a bit more investigation and found some other references out there. The consensus was: High Performers achieve your goals today. High Potentials help you achieve your future. High-potentials have the ab...

Star Power – Is It Portable?

30/07/15 10:06 am | Comments (0) | Posted By:

  Harvard Business Review OnPoint’s Summer 2015 issue includes an article on “How Star Women Build Portable Skills” suggesting that women, in their efforts to maneuver in a male oriented environment, actually build skills that are more portable than men. The research study was conducted on stock analysts starting several years back. Strate...

To Unplug or Not?

18/06/15 3:09 pm | Comments (0) | Posted By:

  As I get ready to head off on vacation, I ran across a couple of articles on CFOs taking more working vacations. Robert Half Management Resources performed a study as to how often CFOs check in with the office during summer vacation. The percentage of time is increasing from their responses in 2012. It’s so easy now with everyone being so p...

The Fortitude of Women

04/12/14 1:21 pm | Comments (0) | Posted By:

  I always find it interesting to hear the back story of people’s success…men and women. Over the last few months I’ve read a couple of historical novels: The Aviator’s Wife by Melanie Benjamin and The Paris Wife by Paula McLain. What struck me the most from these novels was the strong influence on their families and the fortitude these wo...

Women… We Want “Glamour Work”…And Men to Mentor Us

25/09/14 1:00 pm | Comments (1) | Posted By:

  Women, women, everywhere. But are we in the right places? Yes and No. It is interesting that when we focus on something we find it everywhere we look. Last week I was off to a conference In Portland. I always end up picking up reading material in the airport so I bought the October 2014 issue of the Harvard Business Review. In it I found...

Hiring for Potential

26/06/14 2:28 pm | Comments (0) | Posted By:

  What's more important: experience or potential? In an accounting firm, experience can sometimes be the focus of a hiring decision. However, potential really is a smart hire. High performing potentials...that's a win. In Claudio Fernandez-Araoz's article 21st Century Talent Spotting in the June 2014 Harvard Business Review, he points out ...

What is a Trust Protector? Are They a Fiduciary?

21/11/13 10:36 am | Comments (0) | Posted By:

  In trust law, a Protector is a person appointed under the trust agreement to direct or restrain the trustees in relation to their administration of the trust. Historically, the concept of a Protector developed in offshore jurisdictions where settlors were concerned about appointing a trust company in a small, distant country as sole trustee...

“Repair Regs”: Capitalize or Deduct?

07/11/13 4:38 pm | Comments (0) | Posted By:

  Here is a common question, “when do I have to capitalize an expenditure and when can I deduct it as a repair or maintenance item?” The difference between expensing and capitalizing can mean the difference between an immediate deduction at full value versus a deduction spread out over the useful life of the asset. In September 2013, th...

Innovation and Public Accounting: Lessons from Marissa Mayer and Steve Jobs

05/09/13 10:59 am | Comments (0) | Posted By:

How do we bring innovation into the world of Public Accounting?  The Truth About Marissa Mayer: An Unauthorized Biography by Nicholas Carlson popped up in the recommended news section of my Linked In account this weekend. Thinking I would just scan through it, I later found it was a lengthy but intriguing article which I read in two sittings....

A Reno Renaissance: Neighborhoods, Nevada Opera, The Biggest Little City Campaign

22/08/13 8:00 am | Comments (0) | Posted By:

  There are so many good things going on in Reno right now, and you don’t have to look far to find them! When you ask the question, What makes a neighborhood great?, the answers include "It's always a bunch of individuals coming in who think the potential for their community is bigger." And "A great neighborhood usually evolves organically...

Technology and Transparency in Government

13/06/13 8:00 am | Comments (0) | Posted By:

  The Government Finance Officers Association held its annual conference in San Francisco this past week. Edwin Lee, the mayor of San Francisco opened the conference speaking about transparency in government including sharing data with innovative businesses that develop mobile applications that can be utilized by everyone. In San Francisco...

Creating Community Conversation…Ideas Worth Spreading

31/01/13 8:00 am | Comments (2) | Posted By:

  I consider myself one of the lucky ones that had the opportunity to participate in the first TEDx held in Reno at the University of Nevada. I didn't know what a TEDx event was, but happened to run across it on a LinkedIn message from Bret Simmons, University of Nevada College of Business associate professor and TEDxUniversityofNevada event ...

When Can I Retire?

06/12/12 7:48 pm | Comments (0) | Posted By:

  With so much of your retirement funds invested in the market these days, the thought of retirement is a risky proposition.  I personally don't have plans to retire anytime soon; however, listening to Bill Hampel, an economist for the Credit Union National Association, speak at the AICPA National Conference on Credit Unions, one take away fo...

Running the Family Business: And the Winners Are…

01/11/12 8:30 pm | Comments (0) | Posted By:

  A recent Harvard Business Review article, What You Can Learn From Family Business, compared the performance of similar sized family businesses to traditional public companies with some interesting results. Their conclusion:  family businesses focus on resilience more than performance.  Forgoing excess returns in the good times to ensure ...

Credit Scores – The Confusion Continues

28/09/12 9:14 pm | Comments (0) | Posted By:

  Credit scores...do we really understand where they come from and how they are used?  A study just released by researchers at the Consumer Financial Protection Bureau found that credit bureaus sometimes provide Americans with credit scores different than those used by lenders in as many as one out of four times.  The study was based on a ran...