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ProConnection® Newsletter | December 2007 | Vol. VI: No. 11
ProConnection® Newsletter | December 2007 | Vol. VI: No. 11 
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(Intuit ProConnection PLUS Our RSS Feeds EQUALS Happiness)
CPA Sandi Smith shares her checklist of the top ten ways to make the most of 2008.
If you think your clients would benefit from these suggestions, we also have a client-friendly version of the article you can share with your own clients for their success in 2008.
Here is your checklist to turbo charge your business in the New Year.
Year-end Tune-up Just the Thing for Payroll Clients
Stacy Kildal, Certified QuickBooks ProAdvisor, recommends that practitioners do a payroll tune-up with their clients ahead of year-end to avoid any problems (or resolve them).
Read our Payroll Group's interview with Stacy here.
In-Product: QuickBooks 2008 can provide you access to the QuickBooks Year-End Guide (QuickBooks needs to be running for full access.)
On the Web. Clients and many practitioners ask about closing the books in QuickBooks. You have options here; read our Support Notes for the pros and cons of closing your books at year-end.
Game on in Competition for New Hires
We turn to industry reporters Kerri Fulks and Scott Cytron to report on how firms of all sizes deal with the competition for good talent.
Trends with Small Firms (Kerri) include developing relationships with accounting students before they graduate, using networking in new ways, and using small firm flexibility as a selling point. Here's more on what Kerri finds you could use in your practice.
Trends with Big Firms (Scott) are targeting entry level accountants by leveraging younger staff to be the public face of the recruitment and create unique Web sites on career choices. Here's more on what Scott finds you could use in your practice.
What's New on the Old 1040
For the 2007 tax year, the IRS continues to retool the old Form 1040. Here tax authors Terry Myers and Dee DeScherer set out important changes like the new deduction for mortgage insurance premiums. Plus they summarize changes in the key revised figures throughout the form.
Included is a sample letter you can adapt as needed to send to clients or prospects to help them understand changes in federal income taxes for 2007 through the lens of Form 1040.
Along with changes in Form 1040, the IRS has added some new forms and retired at least one for reporting income in tax year 2007. Terry and Dee identify the important changes this year and add some practice pointers along the way.
With great new features in the Accountant's Copy in QuickBooks 2008, practitioners can update client files when clients are in either QuickBooks 2007 and 2008. When clients use QuickBooks 2008, you can adjust virtually all transactions. When clients use QuickBooks 2007, Accountant's Copy is limited in only one regard:
The new features in the 2008 Accountant's Copy (including Bank Reconciliations) aren't coded in the client's QuickBooks 2007.
TIP: Our in-house tip shows you how to work with QuickBooks 2007 to maximum advantage. And don't forget to make sure your QuickBooks 2008 is updated to Release 3.
Soon these essential guides will be posted on the QuickBooks Support site. But we've found a way to get these to you right away. They are
We updated these references to improve their usefulness and to keep current with updated installation routines and messages.
Intuit’s MyCorporation Service has put together a bundle that includes online Incorporation, Rush Service, and an elite Corporate Binder for both incorporation or LLC Formation – and a substantial discount - $70 off the regular price. The easy online process includes a step-by-step checklist that helps them feel confident that they are making the right choice for their business.
Free Online Webinar. On Dec. 19, Intuit offers a free online webinar, "Choosing the Right Entity Type," to provide detailed pros and cons on the options available for businesses considering incorporation. These will be led by attorney Deborah Sweeney and CPA Jeff Bradley. This one-hour training will provide 1 CPE credit (if applicable) and give you the latest information on the tax and benefit implications of the most popular entity types.
Prepare your whole office for tax season with Lacerte 2007 Tax Law Update Training – all for a single price.
For $299, you and your entire staff will receive unlimited access to the on demand web-based Lacerte Tax Law Update Training. This course explains the new tax law changes and demonstrates step-by-step where you enter tax-related data in your Lacerte software. Attendees can earn 3 hours of CPE.
Other recent coverage includes QuickBooks 2008 in WebCPA, QuickBooks 2008 for Write-up in Accounting Today, Using Lacerte for Workflow Improvements in Accounting Technology, and Intuit Online Payroll in WebCPA.
Stand Up for QuickBooks. Cast your vote for Product of the Year in the Small Business Computing "Excellence in Technology Awards." QuickBooks is among a handful of finalists in its category. Voting closes Jan. 8, 2008.
Your Own Monthly QuickBooks Client Newsletter, $24.90/Month*
Limited Time Offer: Order before the end of the year. You get
Act now here. Or learn more about other options. (Print versions also available on a quarterly basis.)
*Introductory rate of $24.95 would cover first three months; the rate would be $49.95 after that.
Comprehensive Guide by Expert Trainer
Michelle L. Long, CPA and Advanced Certified QuickBooks ProAdvisor, is the author of Successful QuickBooks Consulting: The Complete Guide to Starting and Growing a QuickBooks Consulting Business. A member of the Certified Trainer Network for Intuit, Michelle explains she wrote the book to provide the tools and resources to help others start and grow a QuickBooks consulting practice.
Coming Soon. In a future issue, Michelle will be sharing more of the insights that appear in the book.
In the meanwhile, learn more, or order your copy here.
To help us develop better solutions for small business owners and their accounting and bookkeeping professionals, we'd like to hear what you've learned working with clients who have (or are about to) become employers for the first time.
Please help us gain better insight into how your clients become employers.
The survey only takes three minutes. Please answer our 12 short questions here. Many thanks.
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