July 2001 Articles

NYSSCPA Board Votes Not to Join SSNI

NEW YORK—Last month, the newly seated New York State Society of CPAs Board of Directors voted not to sign an interim agreement that would have allowed the State Societies Network, Inc. (SSNI) to gain additional terms from NYSSCPA in the launch of the AICPA’s CPA2Biz project. (Article)

Society Opposes Legislation to Allow Non-CPAs to Perform Reviews and Compilations

NEW YORK—New legislation, bill S.5628, has been introduced into the State Senate that will allow non-CPAs to perform compilation and review services so long as the nonlicensees use safe-harbor language. (Article)

Trustees Listen to Membership, POP Pass Is Back

NEW YORK—Members’ calls for a return to last year’s discounted pricing plan for continuing professional education (CPE) events have been heard and the POP Pass is back. (Article)

President's Commentary

The first recollection I ever had of the term “portal” (other than in the context of a doorway) was on StarTrek. Yes, let it be known to all that I am a Trekkie. (Article)

Society's New Chapters Hit the Ground Running, and How!

The distance between Elmira and Binghamton is about 57 miles, a hefty hike even as the crow flies. (Article)

Charitable Organizations and the Temporary Regulations Concerning Intermediate Sanctions: An Overview

On Jan. 10, 2001, the Internal Revenue Service (IRS) issued temporary regulations with respect to the “intermediate sanctions” legislation enacted by Congress in 1996 as part of the “Taxpayer Bill of Rights II.” (Article)

2001 Annual Leadership Conference Highlights

Society members descended on the historic Hershey Hotel in Hershey, Pa., June 9–12 for one of the biggest annual events on the NYSSCPA calendar. (Article)

New CPE Courses Provide In-depth Analysis of 2001 Tax Act

The Foundation for Accounting Education is offering a number of continuing professional education (CPE) courses to update members on the ramifications of the new $1.35 trillion tax cut package signed by President Bush last month. (Article)

On-the-Job Harassment Is Actionable Under the ADA

Two federal appellate courts recently decided that disability-based harassment claims could be brought under the Americans with Disabilities Act (ADA). (Article)

Junk E-mail

Everyone is familiar with the junk mail that is delivered by the U.S. Postal Service every afternoon. Junk e-mail (spam) is the same thing in your electronic mailbox. (Article)

Putting ASPs to Work in CPA Practices

Security and manageability concerns, coupled with the ever-increasing pace of technological change, are causing companies to hire application service providers to centralize computer processing. (Article)

Taking Advantage of Recent Technology, A Priority for CPAs

Although e-mail accounts and Internet access have become virtual staples in accounting firms, CPAs attending the New York State Society of CPAs’ Business & Technology Conference in April flocked to two different presentations focusing on the advantages of these tools for the certified public accountant. (Article)

Website FAQs (Article)

Task Force to Tackle Society Goals

The Board of Directors for the New York State Society of CPAs last month launched the first formal endeavor to codify the Society’s long-term goals and objectives. (Article)

Emerging Technologies Committee Sets 2001/2002 Schedule

The Emerging Technologies Committee is pleased to announce its new format and schedule for 2001 and 2002. (Article)

Lease Compliance Review: Is Your Firm at Risk?

It has been estimated that more than 500,000 commercial real estate tenants overpay their rent every year. Have you considered the impact these errors can have on your clients’ balance sheets? (Article)

Ethics and Regulation Q & As (Article)

Enthusiastic Students and Journalists Gain Financial Insight at NYSSCPA Seminars

Over the last two months, the New York State Society of CPAs provided students and journalists with an excellent opportunity to learn more about the financial market by cohosting two financial media seminars. (Article)

State’s Cost Allocation Attestation Out of Sync with Professional Standards

Members of the New York State Society of CPAs’ Not-for-Profit Organizations Committee have entered into a dialogue with the New York State Division of the Budget in regards to a cost allocation attestation form that independent CPAs are being asked to sign. (Article)

Building Knowledge at the Construction Contractors Conference

CPAs, controllers, CFOs, and attorneys will gain great insight into the construction industry at this year’s Construction Contractors Accounting, Consulting and Taxation Conference. (Article)

Revamped Tax Code Takes Front Seat at Tax Planning for Individuals Conferences

Last month, The Wall Street Journal reported that there have been 7,000 changes to the federal tax code since 1986, averaging about 385 a year. (Article)

War Story: Like-Kind Property Exchange (IRC Section 1031)

Successful restaurateur and chef Paul Grubman (not his real name) has owned and operated Grubman’s Diner in Manhattan for several years. His accountant, John Baker, CPA (not his real name), has been preparing Grubman’s tax returns and advising him about miscellaneous related matters for several years. (Article)