Intaxication: The Red Moon Solutions Tax Blog

Which Dog are You?

Thu, 09 Feb 2012 08:34:22 +0000

OK, I just completed some research on the latest tax related material weaknesses and am getting ready to write up some best practices on remediation…and have been writing some pretty “heady” blog posts lately (at least in my mind). So, I thought I would take a quick break and share something funny for a change. [...]

Whistleblowers in Corporate Tax Departments: A Sign of Things to Come?

Wed, 08 Feb 2012 08:51:40 +0000

No corporate tax department wants an IRS auditor digging through their work papers and documentation. However, with the introduction of FIN 48 and now Schedule UTP, the transparency the IRS now has into a corporation’s tax positions is greater than ever. These two initiatives alone have created a lot more work for the tax department [...]

Your Survey Says “WHAT?!”

Tue, 07 Feb 2012 08:58:28 +0000

I just recently shared a post called “Going Undercover – Do you Really Need To?”. The gist of the article touched on the fact that you shouldn’t need to ‘go undercover” like the CEO’s in “Undercover Boss” on CBS’s popular television show. You should be able to employ some simple techniques and tools to be [...]

Corporate Tax Pros: Who Says You Can’t Have a Little Fun During Tax Season?

Thu, 02 Feb 2012 09:07:16 +0000

We’re a month into tax season, which means long hours, overwhelming amounts of work, and very little fun for corporate tax professionals. I agree there is no getting around it during tax season, but tax professionals have a tendency to burn the midnight oil for extended periods of time. While this is an admirable quality [...]

Attitude is Everything…Especially During Tax Season

Wed, 01 Feb 2012 09:13:35 +0000

Last summer, my oldest son, Garrett, joined a U9 Academy soccer team to work on his skills and start transitioning toward more competitive play. Needless to say, we have spent countless hours at the soccer field for practice and traveled every Saturday to compete against local teams in our area. One of the things that [...]

Going Undercover? Do you Really Need To?

Tue, 31 Jan 2012 07:55:35 +0000

How many of you have watched “Undercover Boss” on CBS? There has been a lot of press on this show lately. I can’t seem to turn on the T.V. without seeing sound bytes attempting to draw more viewers into the drama. I mean who wouldn’t like to see their boss have to try doing their [...]

IT – Tax Department Friend or Foe?

Thu, 26 Jan 2012 08:40:29 +0000

Historically, the IT guys or gals at most companies were responsible for supporting and keeping up electronic communications throughout the organization, including servers, computers, printers and telephones. These were the folks you went to when your computer wouldn’t boot up, and you had to get that final tax return finished and out the door. They [...]

Tax Related Material Weaknesses – They Just Aren’t Going Away….

Wed, 25 Jan 2012 08:45:34 +0000

Tax related material weaknesses are unfortunately still very often topics for conversation amongst tax professionals. In fact, I was just talking to a colleague who was hiring a tax risk coordinator, whose first task was going to be to conduct a thorough risk assessment within their organization. Another was discussing the lack of tax expertise [...]

Do You Recognize These Things Accountants Say During Busy Season?

Tue, 24 Jan 2012 13:49:34 +0000

Right before I leave for the day, I will typically hop online and check my RSS feeds and social media sites to see what has been going on for the day that I might have missed. Yesterday, I had the good fortune of running across a video that Accounting Today had posted on their Facebook [...]

Parkour for Tax Pros?

Thu, 19 Jan 2012 08:48:02 +0000

What are some of your New Year’s Resolutions for 2012? As usual this year, I have been hearing lots of folks telling me that they are going to get back in shape, and/or are planning to lose those unwanted ten or twenty pounds. Others tell me they are going to do something “risky” this year, [...]

5 Tips to Shorten Meeting Time!

Wed, 18 Jan 2012 08:53:42 +0000

For all you business professionals out there, how many times have you sat in the meeting thinking one or more of the following: 1. Who called this meeting? 2. What is this the purpose of this meeting? 3. Are we going to accomplish something in this meeting or are we here to hear Joe/Sally talk [...]

5 Tools to Help the Stressed Tax Professional

Tue, 17 Jan 2012 09:18:47 +0000

It’s that time of year again. Corporate tax departments are abuzz. Tax season is in full swing, and tax professionals are scurrying to get everything done while working long hours. Excel spreadsheets are being re-worked. Work papers and documentation are gone over with a fine tooth comb. Entire forests are being destroyed, as reams of [...]

How Did I Get Stuck with this Job?

Thu, 12 Jan 2012 08:48:21 +0000

Over the years, I have been to many different tax and industry conferences across the country, and have worked with small to large global corporate tax departments…and it is interesting how many times I have heard the phrase, “I don’t know how I got stuck with this job, but I have been doing it for [...]

Which Tax Departments Want an Alternative to the New Year’s Resolution?

Wed, 11 Jan 2012 08:43:55 +0000

So, the New Year has come and passed. As has been the case for the last several years, I felt uninspired to come up with any New Year’s resolutions. It is not because I am lazy. And, it is certainly not because there isn’t a long laundry list of things I can do to improve [...]

Seven Proven Ways to Executive Failure…

Tue, 10 Jan 2012 08:43:35 +0000

Just read a great article on Forbes.com titled “The Seven Habits of Spectacularly Unsuccessful Executives”, written by Eric Jackson. I am always reading about the “secrets of success” and the “how to’s” on every topic in executive leadership, but not many share the definitive ways that executives can fail. I kind of like to think [...]

GOP on Tax Reform – Made Simple

Thu, 05 Jan 2012 08:38:16 +0000

I know you were all sitting on the edge of your couch cusions barely daring to blink in case you missed the pundits battling it out over Iowa caucus results this week. As we all saw..former Massachusetts Governor Mitt Romney edged out a razor-thin victory in Tuesday night’s Iowa Republican caucuses, holding off former Pennsylvania Sen. Rick [...]

Are you Getting Results?

Wed, 04 Jan 2012 08:48:24 +0000

“Never mistake activity for achievement.” John Wooden, legendary UCLA basketball coach If you are like me, you have probably read a myriad of business, leadership and general management books. I typically find them pretty remedial, on occasion fairly dry, and often times don’t come away with any tangible action items that I can put to [...]

Year in Review: The Hottest Posts of 2011

Tue, 03 Jan 2012 07:46:33 +0000

It’s hard to believe that 2011 is already behind us. This past year, we enjoyed writing posts on a variety of different tax topics and sharing our insight and updates from tax conferences throughout the year. We want to sincerely thank all of our blog readers for taking time out of their busy days to [...]

Happy Holidays from Red Moon Solutions

Thu, 22 Dec 2011 08:09:28 +0000

It is hard to believe 2011 is almost over. This year has been a blur for me, but it has also been a lot of fun. It has been really great working on our products with a phenomenal group of people here in an effort to make it easier for our clients to get their [...]

The Shocking Truth about Santa

Wed, 21 Dec 2011 07:48:46 +0000

Everyone is busy with lots going on this time of year. Most of us are wrapping up the year at work and preparing for another tax season, decorating for the holidays, finishing up our shopping and attending holiday parties. Yet, here’s a guy that spends 364 days out of the year with his elves pouring [...]

Top 10 Ways to Get Cash for your Tax Department Projects!

Tue, 20 Dec 2011 09:05:04 +0000

This blog post is also available in a recent ACT Newsletter…but, I thought I’d share here in case our readers don’t all subscribe to the ACT Newsletter. I wasn’t able to attend the recent Thomson Reuters ONESOURCE Global User Conference at the Fontainebleau in Miami. However I did get to see some hilarious (or completely [...]

Here’s a Quick Way to Start Evaluating Fixed Asset Software Vendors

Thu, 15 Dec 2011 08:50:56 +0000

So, you have decided you are going to try and purchase new fixed asset management software for tracking depreciation expense on your fixed assets. Now, what should you do? First, you may get a list together of things you do and do not like about your current fixed asset software or method for tracking depreciation. [...]

Do You Let What You Know Limit You?

Wed, 14 Dec 2011 08:53:24 +0000

Just read a great Harvard Business Review (HBR) blog post by Bill Taylor who is one of the founders of Fast Company magazine and author of Practically Radical: Not-So-Crazy Ways to Transform Your Company, Shake Up Your Industry, and Challenge Yourself (January 4, 2011). He was commenting on points made by Cynthia Barton Rabe, a former [...]

Are You Ready to Take a Stand in Tax?

Tue, 13 Dec 2011 08:50:38 +0000

Have you ever had a project you desperately need in the tax department but found you could not get it approved because of another individual or department’s priorities? Or have you started a project only to find out someone else in the organization doesn’t think it should be done, so you get stonewalled around every [...]

What is an eTaxCalendar & the Top 10 Reasons Why You Might Need One

Thu, 08 Dec 2011 08:41:58 +0000

We have been getting a lot of questions from folks around “what exactly is an eTaxCalendar”? And “what can it do for me?”. So, we thought we would share a few of our thoughts in this quick and easy to read list. As I understand it, there are a lot of tax professionals out there [...]

Do You Want To See Process Improvements in Your Tax Department?

Wed, 07 Dec 2011 08:51:10 +0000

You are not alone. Like most people in corporate tax departments today, there is mounting pressure to complete a growing amount of work more efficiently with fewer resources and less risk. This will continue to be a struggle for tax departments in coming years and explains why at last month’s Corptax conference John Fiore and [...]

Tax Examination – Hot Tips…You Don’t Want to Miss!

Tue, 06 Dec 2011 09:02:54 +0000

You know when you attend a tax or vendor conference in the tax industry…and you are sitting there wondering why you are sitting in this mind numbingly boring session? In fact, as your mind starts to wander, you begin to picture yourself sitting on a beach sipping a marguerita under a softly swaying palm tree, [...]

Rock the Holidays Like a Tax Pro

Thu, 01 Dec 2011 07:43:55 +0000

If you’ve been reading this blog for a while, you know that we love tax pros! If you are a newcomer, you can get a feel for what I’m talking about here and here. You know what else we love….the holidays. So we wanted to combine the two and also give something away since this [...]

10 Things You Need to Know About Unclaimed Property

Wed, 30 Nov 2011 08:35:44 +0000

If I rated the sessions I attended at the Chicago Tax Club’s recent Fall Seminar, I would have to say the most fascinating (bet you don’t often hear that word to describe a tax session!) was SOX Controls Issues & Much More, a panel discussion led by Michael Giannettino of PwC, Matthew Chenowth of True [...]

Are you up to Speed on the Latest Tax Accounting Trends?

Tue, 29 Nov 2011 08:31:48 +0000

At the recent Vertex Exchange 2011 in Las Vegas, NV, I was able to sit in on a panel session,“Tax Accounting Expert Panel:Gain Access to Experts that Know the Industry Best”. The panel discussion was facilitated by Stephanie Malin of Vertex and included panel experts Jode Shaw, Shaun Lockhart and Bob Norton. I always love [...]

What Do You Really Know About Thanksgiving?

Wed, 23 Nov 2011 08:40:47 +0000

If you have been reading this blog for a while, you already know that Thanksgiving is my favorite holiday. I love it because it is one of the few non-commercial holidays left. After Halloween, stores skip right over the holiday and begin putting up their wreaths, and radio stations start playing Christmas tunes. I love [...]

It’s All About Thanks

Tue, 22 Nov 2011 08:59:27 +0000

Just like all kids, when I was growing up, Christmas was my favorite holiday. As I grow older and a little more mellow, I find that Thanksgiving has become my favorite holiday. I don’t need all the decorations, the time management as I try to fit everything in as the year grows shorter and [...]

Who Else in Tax Wants to Learn About Transfer Pricing?

Thu, 17 Nov 2011 08:59:00 +0000

I have never worked in an area of corporate tax that required me to know very much about transfer pricing. However, I do know it is a hot topic among tax professionals in corporate tax departments, particularly multinationals. So, several weeks ago at the Vertex Exchange corporate tax conference in Vegas, I decided to attend [...]

Reverse Audit Tips for Tax Professionals…Get some COLD CASH?

Wed, 16 Nov 2011 08:48:35 +0000

As most of you know by now, Traci Wheeler and I attended the Vertex Exchange 2011 at the Bellagio in Las Vegas, Nevada. So, I thought it would be fitting to share some of the topics of discussion that relate directly to COLD CASH! Or, perhaps ways of uncovering tax savings within our organizations. Vegas, although [...]

Are You a Planner or a Procrastinator?

Tue, 15 Nov 2011 08:47:06 +0000

I am a planner. That doesn’t mean I don’t like surprises. I do like surprises… good surprises, which is why I am a planner. If I plan the project, event or occasion, there won’t be any bad surprises. That’s why I plan…to avoid the bad surprises. My husband, on the other hand, is a procrastinator. [...]

Corptax Conference Day Three Update

Thu, 10 Nov 2011 09:04:54 +0000

Yesterday concluded Day 3 of the Corptax User’s Conference in San Antonio. While attendees were starting to slow down a little, there was no shortage of good sessions to attend. Kelley and I have had a few favorites during the conference, including a Tax Process Improvement Calendar session presented by John Fiore and Anne Giffels [...]

Corptax Conference Day Two Update

Wed, 09 Nov 2011 04:37:26 +0000

Traci Wheeler and I are excited to provide you another update from the Corptax User’s Conference – 2011 (#corptax11)! Day one finished up with a networking event focused around Monday Night Football. Check out our Facebook site for some additional pictures. As Traci is a Florida Gator fan (yes, that would be college football), and I [...]

Corptax Conference Day One Update

Tue, 08 Nov 2011 08:29:40 +0000

Twelve hundred attendees from 350 companies arrived in San Antonio for yesterday’s kickoff of the Corptax User’s Conference. In the opening session, David Shea, CEO at CorpTax, challenged the audience to think about how to do things differently this week. He emphasized the fact that this week is all about users helping users. The highlight [...]

Kids Tell All: They Want to be in Tax When They Grow Up

Thu, 03 Nov 2011 09:07:08 +0000

If you aren’t attending Thomson’s ONESOURCE Global User Conference at the Fontainebleau in Miami, you may have missed what kids are saying. You can’t believe it, right? When they grow up….they want to be in TAX?!?! I was not in attendance yesterday for the kickoff but followed day one of the conference on Twitter (#ONESOURCEuc), [...]

Chicago Tax Club Fall Seminar: Updates from 4 Sessions

Wed, 02 Nov 2011 08:58:06 +0000

When I was in Chicago last week, I got to check out the view from the skywalk at the old Sears Tower, which was truly amazing, but I was in town to attend the Chicago Tax Club Fall Seminar in Rosemont, Illinois. In addition to manning the Red Moon Solutions booth, I was able to [...]

Conference Season is Upon Us. Will we See YOU?

Tue, 01 Nov 2011 08:48:11 +0000

Ahhh…there’s a cool breeze in the air…and since all of us calendar year filers have been able finish our federal and state income tax filings, perhaps we will have a bit of time to breath, get out and enjoy what is left of some decent weather before the dead of winter (and year end) descends [...]

A Halloween Tale from Red Moon Solutions

Thu, 27 Oct 2011 09:58:00 +0000

With Halloween right around the corner, lots of things come to mind: Trick or treaters Lots of candy Carved pumpkins Different costumes Scary movies Speaking of scary movies, we created our own Red Moon tale just for Halloween. We hope you enjoy it! Personalize funny videos and birthday eCards at JibJab! HAPPY HALLOWEEN FROM ALL [...]

What Would It Take To Scare You in Tax This Halloween?

Wed, 26 Oct 2011 09:32:32 +0000

Witches flying on brooms. Ghosts haunting houses. Pumpkins carved with creepy faces. Halloween can conjure up images of all kinds of scary creatures and things. While I think some tax pros would admit they would prefer to deal with some of the scary creatures above instead of what they are currently dealing with in the [...]

Shut Up, Stop Whining & Get a Life

Tue, 25 Oct 2011 10:05:42 +0000

This advice was given by Larry Winget, bestselling author and speaker, as he kicked off Vertex’s annual tax conference, Vertex Exchange, yesterday at the Bellagio hotel in Vegas. Using his blunt, no nonsense approach, Larry talked about working and people in a direct and funny way that had the audience crying with laughter. It was [...]

Corporate Tax Pros: 5 Reasons Why What Happens in Vegas Won’t Stay in Vegas

Thu, 20 Oct 2011 08:38:41 +0000

This weekend my colleague, Kelley Lear, and I will be hopping on a plane to Vegas. While trips to Vegas might conjure up images of gambling and debauchery, we are headed out there for an entirely different reason…Vertex Exchange 2011. Vertex, a provider of tax technology solutions for corporate tax departments, will be kicking off [...]

Impairments Getting You Down?

Wed, 19 Oct 2011 08:47:01 +0000

I just read an interesting report by Ernst & Young, LLP, called “Meeting Today’s Financial Challenges: Impairment reporting: improving stakeholder confidence”. Thought I would share some of the key points I learned from the article. It is particularly interesting to me these days since we deal with so many accounting and tax professionals that need [...]

Hey, Corporate Tax Pros……Who Else Wants to be Fascinating?

Tue, 18 Oct 2011 08:59:55 +0000

Last month I had the opportunity and privilege to hear Sally Hogshead, a public speaker and author of the book, Fascinate, speak in person at an opening keynote for a conference I was attending. Maybe I should be ashamed to admit it, but prior to the conference, I had never heard of Sally. So, only [...]

Are you Buried Under a Mountain of Paper?

Thu, 13 Oct 2011 08:27:59 +0000

I was recently on-site at a large corporate client and spending some time with the corporate tax department. While meeting with various team members in offices and cubes, I felt a twinge of pain as I glanced at the mountains of papers and endless supplies of binders all expanded to their fullest and looming over [...]

Fixed Assets Data Conversion: What Every Tax Pro Should Know

Wed, 12 Oct 2011 08:50:35 +0000

When a tax department is evaluating new fixed assets software, they typically want to know the effort involved to convert fixed assets data from their existing fixed assets software package. Rightfully so, since the entire conversion process often makes up the biggest part of any fixed asset software implementation project. In an effort to provide [...]

What Frightens You?

Tue, 11 Oct 2011 10:29:31 +0000

I thought the title was apropos for this time of year, with “All Hallows Eve” so soon upon us…what does frighten you? Is it scary late night ghost stories by the fire, or watching a Michael Myers movie in your dark living room with the wind whipping outside your window pane, and the distant call [...]

5 Corporate Tax Superheroes – Which One Are You?

Thu, 06 Oct 2011 09:38:29 +0000

Which superhero did you like as a kid? Was it Batman? Spiderman? As much as I hate to admit it, I was a big fan of Wonder Woman. Superheroes have a universal appeal, and most corporate tax professionals can undoubtedly pick their favorite. So, what is the fascination? Unblemished features and chiseled physiques certainly make [...]

Top 10 Things you May Not Know about Tax Exam Management…

Wed, 05 Oct 2011 08:52:59 +0000

I just had one of our loyal blog readers out there send me a screen shot from a recent webcast from the Deloitte Debriefs Tax Operations Series titled “Tax Data Management: A Foundation of Sustainable Tax Compliance, Planning, and Examinations Support” (and yes, that is quite a mouth full). This Intaxication blog reader has been [...]

Set Sail: 6 Ways to Avoid Being the Tax Department Anchor

Tue, 04 Oct 2011 08:39:43 +0000

A couple of weeks ago, I read the latest JP Horizons newsletter from Jim Paluch, and he was talking about sails and anchors. This is pretty unusual for a business newsletter, so it caught my attention. In his latest edition, he differentiated the employees within a company as either having set their sails or become the [...]

What in the World is a “Tax Portal”?

Thu, 29 Sep 2011 08:34:26 +0000

Finally…tax professionals are beginning to hear about and start to implement portal solutions for their tax departments! I am so happy to hear this. I was designing and implementing portal solutions some ten years ago…and these solutions have come along way in terms of technological advances, functionality, ease of use and reduction in cost. Always [...]

Fixed Asset Software: What Does It Cost?

Wed, 28 Sep 2011 08:45:18 +0000

There are lots of questions people ask when evaluating new fixed asset software, but one question always comes up. How much does fixed asset software cost? This is not always an easy question to answer, because fixed asset depreciation software costs will vary greatly depending on the approach you are taking. For example, are you [...]

Top 10 Reasons Why Your ERP Might Not Work Well For Tax Depreciation

Tue, 27 Sep 2011 08:57:42 +0000

We have had a great number of tax professionals contacting us with specific questions about what SAP, Oracle, Peoplesoft, JD Edwards and other ERP systems can and can’t do with respect to taxes and reconciliation. So, Traci and I thought we would help out those of you out there who have been struggling to understand whether or not their ERP [...]

How To Say a “Positive No” in 5 Easy Steps

Thu, 22 Sep 2011 07:52:29 +0000

With the hectic filing season recently in full swing and resource availability limited for most corporate tax departments, tax professionals have had their plates full. An overabundance of work had to get done. Time was a precious commodity. A colleague knocking on your door or peering around your cubicle wall meant you needed to make [...]

What are the Twelve Attributes of a Truly Great Place to Work?

Wed, 21 Sep 2011 10:14:58 +0000

I was just reading an article in the Harvard Business Review (HBR) by Tony Schwartz entitled “The Twelve Attributes of a Truly Great Place to Work”. I always love to read these articles to see what folks think and say about what makes your job fun to do…and makes you want to rush in early [...]

5 Tax Professionals Share Their Thoughts on Their Profession

Tue, 20 Sep 2011 08:34:27 +0000

Several weeks ago, I wrote Oh, the Places You’ll Go…in Tax, a post where I talked about the need to excite kids today about math in an effort to fuel the talent required for future tax departments. While it did not generate many comments here on the blog, there was quite a bit of discussion [...]

When I Say “Tax”, You Say….

Thu, 15 Sep 2011 08:54:02 +0000

We think tax professionals rock! So much so, in fact, that we wrote a post about you guys last year. Then we decided we wanted to take it a step further. We wondered what does the word “tax” mean to the tax professionals who live and breathe this stuff every day? My colleague, Kelley Lear, [...]

Introducing “Audit in a Box” – Newest Cloud Computing AuditRoom!

Wed, 14 Sep 2011 09:27:49 +0000

Today we are excited to announce our latest version of the AuditRoom, the first flexible, cost effective cloud computing end to end audit solution! The newest release of this powerful, yet affordable Software as a Service (SaaS) tool for corporations manages the audit process, data, and documents, efficiently and effectively while also managing tax risk [...]

Death by Powerpoint

Tue, 13 Sep 2011 08:55:39 +0000

I have been to my share of tax conferences throughout my career. Inevitably, I will walk into a session, and the presenter will have a Powerpoint presentation waiting on the screen. Once the session gets started, and we get rolling through the slides, the same scene unfolds. Too many bullets. Too many words. Big sigh! [...]

Famous Tax Quotes to Amuse You…

Thu, 08 Sep 2011 07:12:07 +0000

Was doing a bit of tax research out there and came across some great tax quotes I thought I’d share with you. Pretty amusing…which is your favorite? “To lay taxes to provide for the general welfare of the United States, that is to say, ‘to lay taxes for the purpose of providing for the general [...]

A Tax Department’s Chosen One

Wed, 07 Sep 2011 07:32:18 +0000

Certain athletes have what it takes. They have a special gift – some combination of talent, leadership, drive, and focus. They are true competitors and are sometimes referred to as “the chosen ones”. I am a native Floridian, a graduate of the University of Florida and an avid Gator football fan. I have seen many [...]

Tax Professionals can be Actors Too?

Tue, 06 Sep 2011 01:16:50 +0000

Has it been a year already? The Dodd-Frank Act first anniversary….ahhh, how exciting. Are you lifting your glass to toast to it’s enactment, or are you slugging down that drink to try to forget? I just finished watching and listening to a great video (global panel discussion) just shared by Deloitte called “The Dodd-Frank Act: [...]

Last Days of Summer

Thu, 01 Sep 2011 10:18:14 +0000

The approach of Labor Day every year is always bittersweet for me. While it means a day out of the office, an extra day to spend relaxing with my family and friends, and the start of college football season (Go Gators!), it also marks the end of another summer. Another school year has started. Evenings [...]

Why?

Wed, 31 Aug 2011 09:03:24 +0000

“Get off of the floor.” “Why?” “You shouldn’t be down there.” “Why?” “We are in a restaurant.” “This is hard to get untied.” “Why?” “The knot got pulled tight.” “Why?” “The water under the boat went down last night.” “Why?” “The tide went out.” “Let’s go under the covered building.” “Why?” “So we aren’t out [...]

What is an M.B.A Worth?

Tue, 30 Aug 2011 08:44:51 +0000

The August 22, 2011 issue of Forbes highlights the “Top 50 Colleges” and business schools. Always interesting to see who they picked and why. Never mind comparing tuition and the average starting salary per graduate. In this issue, there is an article titled “Is an M.B.A. Worth It?” by Kurt Badenhausen, which covers a bit [...]

Oh, the Places You’ll Go…in Tax

Thu, 25 Aug 2011 08:30:54 +0000

For years, the popular Dr. Seuss book, Oh, the Places You’ll Go, has been the gift of choice for new high school and college graduates embarking on their journey into the real world. If we don’t breathe new life into the math programs our kids are involved in today, they will not even consider the [...]

The Right Tool for the Job

Wed, 24 Aug 2011 08:51:10 +0000

Tax departments need to be very creative and adaptive these days. They also are now getting exceptionally skillful in utilizing technology for the many different tax data access, manipulation, transformation, calculation and analysis needs. However, not every technology solution is the right one for the job. I would contend that many tax professionals are utilizing [...]

The Good Old Days

Tue, 23 Aug 2011 08:57:20 +0000

As my boys prepared to go back to school this past weekend, I couldn’t help but be amazed at how things have changed. Long gone are the days of teaching children at wooden desks with mini blackboards to write on, as depicted in the image to the left. Today’s students are being educated using a [...]

What in the World is a Tax Data Warehouse?

Thu, 18 Aug 2011 09:00:41 +0000

In a recent post, called “Summer Projects Anyone?”, I suggested that folks might want to get started on a summer project pretty quick. As summer vacations are now only a fond memory, and the kids are starting to think about back to school shopping and which class they are going to be in this year, [...]

I Dare You….

Wed, 17 Aug 2011 09:00:28 +0000

I dare you to break the chains that are holding you back as a tax department. You know what they are. There are new regulations that force you to complete additional schedules with little guidance. There is increased scrutiny in the form of additional audits that leave your department scrambling to meet information and data [...]

Unclaimed Property – Why do I care?

Tue, 16 Aug 2011 09:20:13 +0000

OK, for the average tax department, you might be asking yourself, why do I care about unclaimed property? And depending upon your industry, operations and organizational structure, you may not. However, since this is a hot topic out there in industry, even if this topic does not affect your tax department heavily today, you may want [...]

States: Down But Not Out

Thu, 11 Aug 2011 09:06:44 +0000

Many states have certainly been strapped and scrambling for ways to generate revenue in recent years. Just last month after hearing a great opening keynote at the Institute for Professionals in Taxation conference, I wrote a follow-up post on what states are facing. Nevertheless, many states may be down but don’t count them out. They [...]

Summer Projects Anyone?

Wed, 10 Aug 2011 09:11:54 +0000

Did you get a chance to head to the lake this summer, or take the kids on that road trip you’ve been planning forever? Or did you and the spouse finally get away alone (for a change), in order to recapture some youth and excitement? I hope so. If you are now back in the [...]

What Makes an Innovator?

Tue, 09 Aug 2011 09:00:51 +0000

I was just perusing the Forbes August 8, 2011 issue, when I came across an article called “Picking the Winners – What are the most innovative companies today – and tomorrow?”, By Jeff Dyer, Hal B Gregersen and Clayton M. Christensen. I always like to read about innovators out there whether it is in industry, [...]

I Quit!!

Thu, 04 Aug 2011 09:25:48 +0000

That is the last thing any VP of Tax wants to hear from one of his people, particularly with the amount of work most corporate tax departments have on their plates these days. But tax leaders should pay attention. According to a recent survey conducted by TaxTalent, the world’s largest online tax network, US tax [...]

So, You’re Telling Me Safe Harbor Has Nothing To Do With Sailboats?

Wed, 03 Aug 2011 09:12:05 +0000

Remember my earlier post on 100% bonus depreciation, the post that explained 100% bonus depreciation calculation on luxury autos? Remember how you weren’t going to get any depreciation in years two through six? I look back at that post now and wistfully think how that was going to be a lot easier to figure compared [...]

OK, How Much Corporate Tax Do We Really Pay?

Tue, 02 Aug 2011 09:20:12 +0000

Was interested to see an article out there on Business Week by Nanette Byrnes, posted on July 27, 2011 that was titled “What U.S. Companies Really Pay in Taxes”, which was a study commissioned by BusinessWeek that discusses findings from the study, and presenting what Corporate America “really” pays the IRS for taxes. Always worthy [...]

Are Your Audit Info Ducks in a Row?

Thu, 28 Jul 2011 09:28:53 +0000

As part of our Empowerment Series, aimed at bringing together the collective voices of authorities on such matters as Workplace, Innovation and Industry in tax, we will periodically be polling our readers to understand and share more of their experiences. With Federal and state governments scrambling to generate revenue, tax audits have been on the [...]

IFRS – Taking Lemons and Making Lemonade!

Wed, 27 Jul 2011 09:08:43 +0000

I was just reading a recent eBook out on Accounting Today that presented some interesting thoughts from on IFRS. The title of the eBook is “Understanding and Meeting the Demands of a Complex Global Economy – International Financial Reporting Standards (IFRS) and More” presented by Accounting Today. The eBook is broken down into “articles” which [...]

So…What Is Getting Approved?

Tue, 26 Jul 2011 09:04:29 +0000

In March of this year, we conducted a tax department survey in order to gather information on a corporate tax department’s budget and the challenges they face. We then took those results and put together a presentation, Securing Budget for Tax, which my colleague, Kelley Lear, and I presented at both a TEI regional meeting [...]

The Amazing Tax Pro!

Thu, 21 Jul 2011 09:37:52 +0000

Today, I am inspired. My colleague Traci Wheeler shared a great blog post this week on “thinking outside the box” and “doing the impossible”. There is also an inspirational video in there you will want to check out. I LOVED it. It made me think again about all the amazing people I have known in [...]

Can You Believe Impossible Things?

Wed, 20 Jul 2011 08:57:51 +0000

Alice laughed, “There’s no use trying,” she said. ”One can’t believe impossible things.” “I dare say you haven’t had as much practice.” said the Queen. “When I was your age I did it for half an hour a day. Why sometimes I’ve believed as many as six impossible things before breakfast.” - Lewis Carroll, Through [...]

Beer Me!

Tue, 19 Jul 2011 10:33:40 +0000

Right now I am on vacation in South Carolina with my family, lounging on the beach for a week of fun in the sun. After a hot and sandy day at the beach, there is nothing I like more than opening a cold beer. For all of you beer drinkers out there, I think you [...]

Data Security – Audit through Appeals: What me Worry?

Thu, 14 Jul 2011 09:47:46 +0000

We have been attending many conferences and industry group meetings, meeting with tax consultants and speaking with our corporate tax customers out there…and everyone is concerned about the same thing. Audits through appeals! With aggressive IRS and State and Local tax audits heating up hotter than ever before, companies are looking at their current processes [...]

Everything But The Kitchen Sink

Wed, 13 Jul 2011 09:01:10 +0000

Unfortunately for most taxpayers going through a property tax audit, having the auditor ask for “everything but the kitchen sink” may be an all too familiar request. General ledgers and trial balances? Fixed asset ledgers? Sample invoices? As attendees learned two weeks ago at the Institute for Professionals in Taxation (IPT) conference, most of the [...]

Is your State Selling your Bridges to Raise Cash?

Tue, 12 Jul 2011 09:13:09 +0000

Day two of the Institute for Professionals in Taxation Conference (IPT 2011) in San Antonio, Texas brought forth more interesting but painful facts regarding the current status of our state and local business tax policy in the United States. In his presentation on “State and Local Business Tax Policy”, Jeffrey N. Saviano, the Americas Director [...]

High Expectations, Or Just High?

Thu, 07 Jul 2011 09:21:33 +0000

We are happy to present another guest blog post by Angelo Liberati, CPA. Once in a while we like to mix in a few Individual income tax blogs as well as our mainstream Corporate tax related posts. Hope you enjoy! Do Individual taxpayers have high expectations of a Certified Public Accountant; a Tax Return Preparer; [...]

Don’t Show Up To A Gun Fight With Just A Knife – Part II

Wed, 06 Jul 2011 12:30:32 +0000

As promised, here is the follow up to my first blog post from the Institute for Professionals in Taxation Conference in San Antonio, Texas (IPT 2011) session entitled “State Tax Audit & Appeals Strategies”. The session was presented by Christopher Grisson, a partner at Bradley Arant Boult & Cummings, LLP, and Ben Turner, Tax Director [...]

Don’t Show Up To A Gun Fight With Just A Knife

Tue, 05 Jul 2011 10:02:24 +0000

Another day at the Institute for Professionals in Taxation Conference (IPT 2011), in San Antonio, Texas. Following up on the key note speech making a step by step case for state budget deficit pending doom (catch my colleague Traci Wheeler’s blog sharing what we learned), I was able to sit in on quite an interesting [...]

Happy July 4th from Red Moon

Thu, 30 Jun 2011 09:40:21 +0000

It’s hard to believe we are well on our way through the summer, and one of most Americans’ favorite holidays is right round the corner. Not only is the 4th of July a national holiday commemorating the signing of the Declaration of Independence but also typically a fun weekend of picnics, barbecues and fireworks. I [...]

Transfer Pricing Pain….

Wed, 29 Jun 2011 06:50:30 +0000

As promised, Traci Wheeler and I are continuing to share our experiences and sessions from the Association for Computers in Taxation Conference 2011 held in San Diego this year. For this blog post, I think I will categorize this under our “Red Whine Wednesday” category of posts, due to the nature of the topic. I [...]

Can Tax Professionals Weather the Storm?

Tue, 28 Jun 2011 15:16:38 +0000

The first day of the Institute of Professionals in Taxation (IPT) conference in San Antonio was packed full of great sessions and networking. One of the highlights was the opening session, The Federal and Looming State and Municipal Budget Crisis, given by keynote speaker, KC Conway, Executive Managing Director, Real Estate Analytics at Collier International. [...]

“Go Slow to Go Fast!” Part II

Thu, 23 Jun 2011 09:29:44 +0000

And yet another day at the Loews Coronodo Bay Resort in San Diego. Tough life, I know! Traci Wheeler and I are continuing to blog and tweet from the conference this week so that we can share with other tax professionals out there who may have not been able to make the trip this week. [...]

ACT Update from San Diego

Wed, 22 Jun 2011 10:29:42 +0000

Day two of the Association for Computers and Taxation (ACT) conference is well under way. This year’s conference in San Diego has a great turnout of big companies and software and consulting vendors. The range of topics presented has also been broad, ranging from a session on Mastering Domestic Transfer Pricing given by True Partners [...]

“Go Slow to Go Fast!”

Tue, 21 Jun 2011 10:46:31 +0000

I am excited to be writing my blog this week from sunny San Diego after being able to run along the amazing views of San Diego bay this morning. My demeanor is now much more amenable to listening to our opening presentation at the Association for Computers and Taxation (ACT 2011) Conference at the Loews [...]

All That and a Bag of Chips

Thu, 16 Jun 2011 09:06:41 +0000

Urban Dictionary defines the term “all that and a bag of chips” as a person who believes they “have all of that and more”. Most youngsters today may feel they personify this phrase, particularly on their graduation day. However, the fifth graders at my nephew’s graduation last week were in for a bit of a [...]

Ready For Another Lap?

Wed, 15 Jun 2011 08:45:08 +0000

Growing up in New England, I did not have very much exposure to the Nascar circuit. Having lived in Florida for some time now, I could not ignore the popularity of this aggressive, lucrative and dangerous sport. Nor could I ignore hearing much about one of the sport’s most iconic figures – Richard Petty, a.k.a [...]

Consumer Use Tax – What are my obligations? Part I

Tue, 14 Jun 2011 09:20:07 +0000

We are excited to add yet another guest blogger to our Intaxication – Empowerment Series line up! Brad Merrill, a Principal at Brad Merrill Accounting and Tax Services has over 20 years experience in accounting and tax with a variety of firms from small to large. He also has 12 years experience in financial accounting [...]

Where Are People Like Me?

Thu, 09 Jun 2011 09:34:17 +0000

What tax professional doesn’t want to find people just like themselves? People who can identify with the work they are doing. People who can relate to the complexity and overwhelming amount of work they face. People who can share best practices and provide information on the latest tools available out there. Historically, conferences have always [...]

Balance Sheet Risk …Major Concerns?

Wed, 08 Jun 2011 08:58:16 +0000

I just finished reading an interesting white paper from Deloitte titled “Key Factors Shaping Financial Reporting – The Decade Ahead” (contributing authors, Deloitte partners: Tom Omberg, Sherif Sakr, Sachin Sethi, Brian Murrell and Alfred Popkin), and I thought I would share some thoughts with you. This article, as its title suggests, is providing an overview [...]

Another Dichotomy? Patient Protection and Affordable Health Care?

Tue, 07 Jun 2011 09:31:30 +0000

The Federal Patient Protection and Affordable Care Act and Health Care and Education Reconciliation Act of 2010 contain numerous taxation and other Revenue provisions that, supposedly, will be the means to get the money to pay for these Acts. But will they live up to their titles? Is this yet another, in a long list of [...]

Calling All Tax Pros….

Thu, 02 Jun 2011 09:50:40 +0000

Can you hear me?!? Do you know what time of year it is? Yes, summer is upon us. School will be getting out, and summer vacation plans will be nailed down. But don’t relax just yet. There are several opportunities coming up where you can network with your peers, get up-to-date information on the hottest [...]

Put the Advil Away

Wed, 01 Jun 2011 09:05:52 +0000

When tax departments are considering a new software solution, there is typically much concern centered around the data conversion piece of the project and the time and effort that will be required. With so many demands placed on the tax department today and limited resources available to meet those demands, it is no wonder this [...]

4 Things NOT Changed by the Internet

Tue, 31 May 2011 12:48:58 +0000

“And the best asset for mastering change is still that old classic: leadership.” – Rosabeth Moss Kanter Had a chance to read a recent interesting Harvard Business Review article from Rosabeth Moss Kanter, titled “The Internet Changes Everything – Except Four Things”, and thought I would share. This is a great follow up to a [...]

A Memorial Day Tribute

Thu, 26 May 2011 01:12:21 +0000

I have always looked forward to the end of May. The long-awaited Memorial Day weekend signified the end of a school year and the start of summer and long, lazy days. However, the holiday means so much more than that. It is a day set aside to honor our soldiers and the many sacrifices they [...]

Mobile Madness?

Wed, 25 May 2011 14:29:28 +0000

On Monday, my colleague, Kelley Lear, and I had the opportunity to speak at a Tax Technology meeting held by the Detroit chapter of the Tax Executives Institute (TEI). It was a great chance for corporate tax professionals in the area to get a day of education and network with their peers in the industry. [...]

Where’s My Entity?

Tue, 24 May 2011 11:09:53 +0000

My colleague (Traci Wheeler) and I were lucky enough to get a chance to speak yesterday at the Tax Executives Institute regional meeting, in Troy, Michigan. Our topic was on how tax professionals can research, prepare for and build a solid business case in order to secure budget for tax. One of the other topics [...]

Is Junk Food Ruining Your Information Diet?

Mon, 16 May 2011 16:41:56 +0000

Everyone knows how bad too much junk food can be for your health. Eat too much, and you could become a victim of obesity and a number of other health-related illnesses. Nutritionists tell us a balanced diet should consist of some vegetables and some dessert, so we stay physically fit and healthy. We can all [...]

Two Words You Can Never Say Too Often

Mon, 16 May 2011 16:30:31 +0000

At Red Moon Solutions, we think taking care of our clients is top priority. This past December, we hit the five year mark here. Today, we would like to take the opportunity to thank our clients for five great years. It has been our pleasure to have you as our clients. We look forward to [...]

Show Me The Money

Mon, 16 May 2011 13:50:25 +0000

Lawmakers were busy last week in Washington as they listened to testimony on the issue of corporate tax reform from executives at several, well-known multi-national corporations. The subject was nothing new, and the debate will inevitably continue for many months and possibly years. One issue at hand is whether or not lawmakers should allow large [...]

Grant Thornton LLP CEO’s Take on Accounting and Tax Challenges…

Mon, 09 May 2011 16:09:26 +0000

Had a chance to watch a short video on Accounting Today that you should check out. Always interesting to hear what our colleagues have to say out there about the latest and greatest in that Tax and Accounting profession. This video is an interview of Grant Thornton LLP ECO Stephen Chipman, by the Accounting Today [...]

What Makes Leaders in Tax Great?

Thu, 05 May 2011 18:45:23 +0000

I was reading the TaxConnections Blog, a recent post by Kathleen Jennings that was titled the “Lessons of Leaders in Tax”. This post is a compilation of what Kathleen and her colleagues have seen over the years with respect to leaders in the tax world, or professionals in the area of corporate taxation. I really [...]

I’ll Have A Life After I Retire…

Thu, 05 May 2011 14:59:42 +0000

Anyone that has ever worked in tax, whether as a sole practitioner, a consultant, a member of a corporate tax department or a part of the Big 4, has uttered the above phrase at least once. The below image, designed by Bryan Connor as part of GOOD’s Work Infographic contest last year, provides a graphical [...]

What is the Single Greatest Challenge for Tax Professionals this Year – 2011?

Tue, 03 May 2011 21:16:13 +0000

We perform lots of industry surveys, speak and attend conferences, participate in LinkedIn, Twitter and other social media groups, and speak to and poll our clients on a regular basis. We like to keep in touch with what tax professionals are facing, struggling against and overcoming. We like to know what keeps them up at [...]

State tax audits are on the rise. If you haven’t had this happen to you yet – just wait – and plan on it. Posted by Guest Contributor: Sam Hodges

Thu, 28 Apr 2011 17:03:02 +0000

You receive an inconspicuous-looking letter with your state’s seal, small but visible in the corner. Addressed to you. Oh – and you didn’t think anyone (let alone your home state) would be interested in you – but here it is: you are the lucky recipient of an audit notification. After your heart calms down a [...]

What State are you In? Have you Read the Latest COST/E&Y Study?

Wed, 27 Apr 2011 17:00:43 +0000

As you have seen in some of my prior posts…I love to read great whitepapers and research articles on tax planning. And when I find particularly interesting or tax technically rich articles with great authors, I love to share them as well. This one is no different. I just had a read through the “Competitiveness [...]

Is a Tax Talent Shortage Looming?

Tue, 26 Apr 2011 14:01:17 +0000

As I was perusing articles this week, I came across one on the Big Fat Finance blog that caught my attention. The article, HR’s Hurt Could Become Finance’s Pain, written by Eric Krell, a governance, risk and compliance contributor, linked the reduction in HR functions at global companies to the growing skills gap finance executives [...]

Are You Getting the Most Out of Your Software Investment?

Thu, 21 Apr 2011 21:12:58 +0000

The software available to support tax departments today is better than ever. However, based on our experience, the software is not being utilized to its fullest capabilities. For example: Provision Software Used more as a calculator than an analytical tool Little or no automation Fixed Asset Software Inability to run projections Lack of reconciliations between [...]

David Letterman’s Top 10 Tax Tips: Video

Wed, 20 Apr 2011 17:56:43 +0000

In honor of tax week, I wanted to share this hilarious video that was recently posted on the TaxProf Blog. These Top 10 Tax Tips were provided by the top 10 accounting firms in New York City. I got a great laugh out of this so if you didn’t catch it – be sure to [...]

Are You Ready to Join a Corporate Tax Tribe?

Tue, 19 Apr 2011 13:11:57 +0000

Today I was reading an old blog post from Seth Godin where he defined a tribe as: “Groups of like-minded people who share a culture, a connection and perhaps a goal” As a follow-up to the post, I watched a TED talk Seth did back in 2009 where he talked more about the concept of tribes. [...]

Is your Bonus Depreciation Updated in Your ERP for this Year?

Thu, 14 Apr 2011 14:11:15 +0000

It is that time of the year again…calendar year filers have closed out and reconciled year end, done their next quarter provision, estimates and extensions. Tax professionals now have a “second” to breathe (I hope). This is when we typically get many calls from companies who are trying to figure out if there is another [...]

Leadership by Design!

Wed, 13 Apr 2011 18:42:47 +0000

I love taking time out to read about what we call in industry “soft skills” – although, I am not sure that I agree with that terminology or characterization (soft skills that is)….However, my usual fare is a lot of content related to tax technical ideas, finance, technology and Industry updates. So, this was a [...]

Google and the “Dutch Sandwich”…interested in $3B in tax savings?

Tue, 12 Apr 2011 20:01:54 +0000

The other day, I was lucky enough to stumble across a great post by Kelly Phillips Erb, JD and LLM in Taxation – otherwise known as “Tax Girl”. If you don’t already read her blog, it is www.taxgirl.com, and is usually pretty interesting. On March 20, 2011, she shared a video from a colleague outlining [...]

Do you have your receipts? Will it be like the “cobbler’s son has no shoes”?

Thu, 07 Apr 2011 13:58:09 +0000

Thought we would share this for CPA’s/tax preparers and Corporate Tax Professionals as individuals preparing their own tax returns. I am sure this is not you…however, we thought we would share this piece as another in our “Empowerment Series” in which we are bringing together the collective voices of authorities on such matters as Workplace, [...]

Tommy Tax & Filing Fran Fall Victim to ERP Implementation

Wed, 06 Apr 2011 13:53:22 +0000

Does this sound familiar? Was the tax department promised the new ERP system would be able to meet their needs? Did you later find out there would have to be customizations to make it work like the tax department needed? What was the cost? Unfortunately, I frequently hear from companies that have been forced to [...]

Unrolling a Toilet Paper Tax?

Tue, 05 Apr 2011 17:48:28 +0000

OK, now I have heard it all. There was recently an Omaha mayor who proposed that there be a Federal Toilet Paper Tax to fund a local sewer project! I guess the tax fit the same framework as the project proposed…although that might be the only thing nice I can say about this proposal. I [...]

Hilarious April Fools Day Video from Mr. Excel

Fri, 01 Apr 2011 15:52:05 +0000

While I was searching for funny April Fools Day office videos last night, I came across this hilarious video from Bill Jelen (a.k.a. “Mr. Excel”). We thought you would love it too. Watch the video below – and – we’d love to know if you’ve ever pulled off any funny office pranks on April Fools [...]

What Will the Future Hold for Corporate Tax Departments?

Wed, 30 Mar 2011 12:46:31 +0000

I don’t know about you, but I absolutely love infographics. For those of you that don’t know what I am talking about, infographics are visual representations of information or data. They are continuing to gain popularity and can be used to represent anything from tracking the happiness in countries over time to social media’s resemblance [...]

The Price of Taxing the Rich – My Thoughts

Tue, 29 Mar 2011 15:31:12 +0000

Not sure if you caught the Wall St. Journal Article over the week-end, “The Price of Taxing the Rich” by Robert Frank… as I have said before, I love pointing out and commenting on articles related to “tax” written in the Journal, both individual or corporate topics. I am always surprised how few good articles [...]

Is Congress Treating State Tax Policy Like Play-Doh?

Thu, 24 Mar 2011 17:14:26 +0000

I spent hours molding play-doh as a child, much to the chagrin of my mother who was constantly cleaning up tiny pieces of play-doh around the house. There was something incredibly creative and freeing about molding colored globs of…stuff, into somewhat coherent shapes. Then… well, when you got tired of that shape, you simply mashed [...]

Great Leaders Learn from Failure…Not Success

Wed, 23 Mar 2011 15:42:58 +0000

As a working professional, athlete, wife and mother – I’d like to think that I’ve managed to master the art of balance (which I guess is all relative). But regardless of my ongoing tenacity at keeping that balance in check, there are some days that bring about change, pain – and sometimes …coughfailurecoughcough. Yes, I [...]

What Does Innovation Mean to Tax? A Quick Poll

Tue, 22 Mar 2011 15:34:42 +0000

The word innovation is often used to describe technology that is the newest, sleekest, and most advanced out there. Apple® is known for innovation with products like the iPod and the iPad. Similarly, Nintendo can tout their Wii gaming system, and Amazon has seen much success with the Kindle. Consumers have flocked to these products [...]

3 Ways to Simplify Processes, Eliminate Complexity, and Add Value

Thu, 17 Mar 2011 15:54:51 +0000

As tax industry professionals, your work is unique, vital to the success of any organization, and can be extremely complex. Virtually every tax department today is hindered by complexity and lack of resources. In working with hundreds of businesses over the years, I’ve learned that even some of our top notch Fortune 500 companies are [...]

U.S. Corporate Tax Rate – Highest in the World?

Wed, 16 Mar 2011 17:23:55 +0000

Well. We’ve finally done it. We’ve reached the top… but not in a good way. According to a recent news release published by the Tax Foundation, the U.S. corporate tax rate will soon become the highest in the world. ! Honestly though – is it a surprise? For over 20 years, the U.S. corporate tax [...]

Would Your Fixed Asset Audit Reveal the Same Thing the IRS Found?

Tue, 15 Mar 2011 15:03:41 +0000

Accounting Today published an alarming article last week that illuminated the issue of asset management weakness, even within the highest echelon of the tax industry, the IRS. The article, IRS Loses Track of Investigative Equipment, reported that the IRS’ Criminal Investigation Division has had a material weakness due to its failure to properly monitor and [...]

4 Jawdropping Facts Regarding Spreadsheet Inaccuracies: Tax Pros Need Innovative Technology!

Thu, 10 Mar 2011 19:07:38 +0000

In the article, Bringing Tax Into the Mainstream, Kugel lists several basic software essentials that are vital for finance and tax to effectively execute financial performance management strategies. The basic software essentials, according to Kugel, are: planning, reporting, risk-management, analytics, dashboards and scorecards. While these are important considerations for all business professionals … I would [...]

Top 10 Things to Consider When Building a Business Case for Tax Tech Projects

Wed, 09 Mar 2011 18:46:07 +0000

I have spoken to tax professionals all over the country for years, and the same question comes up time and time again: “How on earth do we get budget for tax technology projects?” Building a business case in the tax industry can be a tremendous challenge – especially when the proposal seeks funding for technology-related [...]

Win an iPod Touch: Quick Survey

Tue, 08 Mar 2011 18:14:10 +0000

In order to better understand the current budgeting needs of tax departments and continuously give you the solutions you really want – we decided to create this quick and easy survey. By participating, you will be automatically entered into a drawing to win an iPod Touch. Now, that is pretty cool! (At least, we think [...]

Tax Pros Feedback on Corporate Tax Reform

Thu, 03 Mar 2011 19:15:16 +0000

A vibrant discussion took place on LinkedIn last week around Red Moon President, Jim Shedivy’s podcast, Corporate Tax Reform Does NOT Have to be Hard, and we have been thrilled by the feedback it has received thus far. Several tax professionals have stepped forward to weigh in with their own thoughts and opinions, fostering an [...]

State Tax Revenue Climbs

Wed, 02 Mar 2011 20:38:51 +0000

Some would say that the February 1st, 2011 article in The Wall Street Journal entitled “State Tax Revenue Climbs” by Conor Dougherty is somewhat optimistic or at least a bit encouraging. I however, am choosing to add this topic to my “Red Whine Wednesday” posts. The “good news” presented is that in the fourth quarter, [...]

The Critical Role that Finance Plays in Changing the Tax Landscape

Tue, 01 Mar 2011 15:09:15 +0000

Robert Kugel, SVP & Research Director for Ventana Research recently wrote an interesting and very relevant post entitled “Bringing Tax into Mainstream Finance.” As our regular blog readers may have noticed…we have several blog posts that speak to varying levels of integration, communication and collaboration between Finance, Accounting and Tax. In this article, Kugel takes [...]

10 Ways to Reduce Workplace Stress and Go Home Smiling: Free eBook!

Thu, 24 Feb 2011 15:51:36 +0000

With the busy season bearing down on the tax industry, we all know that stress is not entirely avoidable. It is, however, possible to cut down on that stress to the extent that it doesn’t have to drive us to the brink of madness. Red Moon Solutions is proud to present its newest free eBook, [...]

5 Coworker Characters that can Drive You Up the Wall!

Wed, 23 Feb 2011 20:50:45 +0000

Coworker Characters come in all different shapes and sizes, some can be harder to deal with than others and have a wide arsenal of methods for causing headaches. Here our list of the top five coworker personalities along with a free resource to help you cope with them! The Chatterbox: The nice thing about The [...]

7 Questions and Considerations for the Cloud: Free Whitepaper

Tue, 22 Feb 2011 19:39:32 +0000

On-going debates surround the cloud or SaaS (software-as-a-service). Tax and finance professionals hold concerns regarding security, uptime, and privacy. Many are seeing the advantage to hosted solutions, and many are still unsure as to what making a transition into the cloud entails. Today’s post will give you an understanding of the questions, concerns and considerations [...]

Corporate Tax Reform does NOT have to be Hard

Thu, 17 Feb 2011 16:13:43 +0000

In response to a recent article published in the Washington Post entitled “Why corporate tax reform will be hard, in one graph,” Red Moon’s President Jim Shedivy provides his insight as to why corporate tax reform does not have to be hard. Listen to today’s podcast to hear 3 ways in which we could simplify the [...]

President Jim Shedivy Shares Red Moon’s Promise: VIDEO

Tue, 15 Feb 2011 16:25:34 +0000

As President of Red Moon, I’ve had the opportunity to experience the wants, needs, hopes and grievances of tax professionals for nearly 30 years. Through this experience and the careful consideration of your ideas, questions and concerns – Red Moon is proud to deliver technology that surpasses your expectations. I wanted to share with you [...]

Are Your Managers Magnificent? Guest Post by Rita Keller

Thu, 10 Feb 2011 17:53:34 +0000

Many managers in the accounting/tax world have the “manager” title just because it is a title that an experienced, long-time employee receives for being a high-performing accountant. In relation to the work of the firm, they take care of things (the work). As managers, they are often STILL doing the work rather than managing others [...]

4 Skills to Deal with Negativity in the Workplace

Wed, 09 Feb 2011 21:26:46 +0000

The last thing we really need in our lives is negative or self-absorbed coworkers affecting how we feel while we’re busy in the office. Whether it’s an individual who is relentlessly negative and constantly tries to bring everyone down – or the person who does not take the time to listen to anyone else’s ideas (but their own), negativity in the workplace can be a major challenge affecting workplace performance. More importantly, it can affect your overall peace of mind – and none of us want to bring our workplace trials home with us, right?

Empowerment Series: Tax Pros Open Up

Tue, 08 Feb 2011 18:11:29 +0000

As leaders in the tax marketplace, our vision is to empower and unite tax professionals through active discussion, the sharing of stories, frustrations, observations and insights. True solutions are born out of collaboration – which we believe is the key to shaping our future. We’re excited to announce the launch of our Empowerment Series for [...]

4th Quarter Gains Show Things are Looking up in 2011

Thu, 03 Feb 2011 22:10:44 +0000

After reading the Fortune Magazine – January 14th, 2011 article “Three Signs that Consumers are Inching Back”, and the The Wall Street Journal January 31, 2011 article “Corporate Profits are up Like Gangbusters” I could feel some overwhelming optimism rising up from that pit in my stomach from whence that stalwart pessimism once resided and [...]

What Does Tax Season Have To Do with Groundhog’s Day?

Wed, 02 Feb 2011 14:38:05 +0000

Today is none other than Groundhog’s Day. Those of you enduring the massive winter storm sweeping across the country this week most likely rolled out of bed hoping and praying that the groundhog did not see his shadow. For me, I live in Florida, so it was more about completing my son’s homework assignment. If [...]

The Tangible and Intangible Benefits of On-Site Training

Tue, 01 Feb 2011 18:32:04 +0000

I just spent a week conducting on-site product training for a great company in New England. You don’t have to take my word that they are a great organization, but the state of Connecticut has chosen them as one of the ‘Best Places to Work’. Like all organizations they look to control expenses and benchmark [...]

100% Bonus Depreciation…Sounds Like a Good Idea!

Thu, 27 Jan 2011 21:09:13 +0000

With the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 the effectof bonus depreciation on auto limits is taking an unexpected spin. When bonus depreciation was first enacted in 2001, it was an advantageous way for companies to quickly claim depreciation and accelerate the write-off of the cost of [...]

Seriously…Do Tax Pros Need Another Acronym?!

Wed, 26 Jan 2011 19:18:17 +0000

Ahhh…it looks like we tax professionals will soon be adding some more acronyms to our already full pallet of “alphabet soup”. We recently added IFRS, FIN 48, and UTP…now we will be adding a new acronym, XBRL. But wait, haven’t we heard this strange group of garbled letters before? Yes my friends, you may have [...]

A Shift in Thinking and Priorities for CFO’s in 2011

Tue, 25 Jan 2011 20:01:23 +0000

Per my last blog entitled “Top 10 Priorities of CIO’s” , I promised to follow up with some additional blog posts related to making some inroads in cementing relationships with IT and Finance, how to build a business case and obtain additional funding in your tax departmetn. In the blog noted above, I introduced the [...]

Product Questions with Betty Hanlon: Video Part 3

Thu, 20 Jan 2011 20:31:06 +0000

While Red Moon Solutions was at the Vertex Conference in Orlando , we had the pleasure of meeting Betty Hanlon of Quanex Building Products. Today we will share Part 3, as Betty continues to ask questions about Red Moon’s Fixed Assets Manager (FAM) software and Traci Wheeler and Kelley Lear explain how tax books are [...]

Is Tax Still in the Hot Seat?

Wed, 19 Jan 2011 20:27:56 +0000

I was just reading a white paper from Deloitte entitled “Material weakness and restatements – is tax still in the hotseat?” and I had to share my thinking on this for Red Whine Wednesday. Thought it was a pertinent topic that most you can relate to. I was surprised to see that even though the [...]

Our Most Popular Posts of 2010

Mon, 17 Jan 2011 14:31:35 +0000

Our Most Popular Posts of 2010 Well, 2011 has started with a bang here at Red Moon Solutions. We have a lot of exciting things planned for the blog this year, and we look forward to sharing them with you. While we were sitting around talking about what we would be doing in the New [...]

3 Reasons NOT to Make New Years Resolutions

Thu, 13 Jan 2011 16:42:06 +0000

As the beginning of each New Year approaches, people inevitably begin talking about their resolutions. Hit the gym more often. Lose weight. Spend more time with family and friends. Get organized. Just on Twitter and Google over the last several days, there have been pages of posts on resolutions. It would be a no-brainer for [...]

Slow Dancing in Tax

Wed, 12 Jan 2011 20:22:43 +0000

A female politician out on a weekend morning to meet with her constituents. A Federal judge showing his support. A 9-year old girl who aspired to help others. These are just a few of those who were injured or mortally wounded over the weekend. This tragedy played out in front of a grocery store in [...]

Amazing Video! Lessons from a 12 Year Old Basketball Pro

Tue, 11 Jan 2011 16:27:18 +0000

A colleague of mine sent me this video. Make sure you watch it even if you don’t read my entire blog! As I watched this video, I wondered seriously about my parenting skills. Granted my son is only seven. But, this kid is twelve years old! The child’s skill set is amazing, his adeptness with [...]

ABC’s of Today’s Corporate Tax Department

Thu, 06 Jan 2011 14:58:18 +0000

It’s the Thursday after New Years and I thought it would be fitting to lighten the mood of busy tax professionals planning for all that’s to come in 2011. Read the post below for some good laughs. Happy 2011! A is for Accounting. For most tax professionals this is where their [...]

Tax Law Changes: What’s Your Opinion?

Wed, 05 Jan 2011 19:23:20 +0000

I was just reading the AccountingToday’s article titled “GOP Changes House Rules on Tax Laws and ‘Accounting Gimmicks’”, Washington, D.C. (January 3, 2011), By Michael Cohn…and I had a “good grief” moment I thought I would share for this Wednesday’s Red Whine Wednesday post. My “whine” is really based on the state of our current [...]

Top 10 Priorities of CIO’s

Tue, 04 Jan 2011 16:08:07 +0000

While doing webinars and/or while working with client corporate tax departments, I am typically asked a plethora of questions about how tax can develop a better working relationship with IT. They share horror stories about how they do not get support and how it takes forever to get any assistance from IT. I am also [...]

Happy Holidays from All of Us at Red Moon!

Wed, 22 Dec 2010 16:55:00 +0000

Our team at Red Moon Solutions is so grateful that you, our valued clients, have reached out to us and told us exactly what you want – so we delivered new software solutions, resources that keep you ahead of the competition and applications that make your life easier. Thank you for choosing to partner with [...]

6 Steps to a Successful SWOT Analysis

Tue, 21 Dec 2010 18:09:46 +0000

To conduct a SWOT analysis, here are six simple steps you will want to go through with your tax department and/or with Finance and IT as needed (and depending upon the process or issue you are tackling): 1. Explain the process – Time is of the essence in tax, so make sure participants know why [...]

Generational Synchronization in Tax: Unnecessary or a Requirement?

Thu, 16 Dec 2010 18:50:17 +0000

This week in the office I took the opportunity to catch up on some reading. I read a great article, Bridging the generation gap in tax season, written by Liz Gold, where she interviewed Elaine Weiss, president and chief executive of the Illinois CPA society, about the challenges firms face in adapting to two different [...]

Has Your Vendor been Holding Your Data Hostage?

Wed, 15 Dec 2010 17:13:07 +0000

First starting out in my career, most of the ERP solutions and other compliance software out there consisted of proprietary software and proprietary databases. It was common practice that once corporations were implemented…they were with you for a long time. Like it or not. One of the big issues was the sheer matter of exporting [...]

ADR: The New Buzz Word in Audits

Tue, 14 Dec 2010 22:09:09 +0000

Facing a full on blitz (yes a fall football adjective), of examinations being conducted simultaneously in jurisdictions around the world as well as domestically at the state and local levels, companies most definitely need to position themselves on the field of battle to proactively manage potential tax controversies. Tax planning with streamlined processes to avoid [...]

Product Questions with Betty Hanlon: Video Part 2

Thu, 09 Dec 2010 19:03:57 +0000

While Red Moon Solutions was at the Vertex Conference in Orlando , we had the pleasure of meeting Betty Hanlon of Quanex Building Products. Betty continues to ask questions about Red Moon’s software and Traci Wheeler and Kelley Lear explain how Red Moon Solution’s fixed assets management and bonus depreciation solutions can help. In case you missed the [...]

The Joys of Holiday Business Travel (Insert Sarcasm Here)

Wed, 08 Dec 2010 19:00:46 +0000

As a colleague and I were traveling on business to Little Rock, Arkansas, standing in lines and trying to put ourselves back together after passing through security, I thought to myself, “ahhhh, the glamour of business travel.” Gone forever are the days when business travel was glamorous and exciting. My “whine” today is on lamenting [...]

6 Steps to Plan Your Attack!

Tue, 07 Dec 2010 17:48:47 +0000

The Association for Computers and Taxation (ACT) presents an informative webinar on SWOT for Tax – Six Steps to Plan Your Attack! Sponsored and hosted by Red Moon Solutions. “Instead of worrying about the future, let us labor to create it.” Hubert Humphrey What in the world is a SWOT Analysis? For those of you who [...]

A Bad Day in the Tax Department

Thu, 02 Dec 2010 16:25:24 +0000

Have you ever just had a bad day in the tax department? A day when you try to do everything right, but nothing seems to go as you would like? In November, my son’s kindergarten class spent the month learning about the Pilgrims and the Indians. At the beginning of the month, each child was [...]

Tax Pros ROCK! (Really, we do)

Wed, 01 Dec 2010 21:32:30 +0000

My “whine” for this Wednesday has to do with the fact that it is about time for folks to treat tax professionals and tax technologists with the proper respect and care that they deserve! We are not boring, nerdy, frightening, strange or demented. We are tax professionals, and we rock! How many of you vibrant [...]

The Enhanced Relationship in our Global Tax Environment: Is it Possible?

Tue, 30 Nov 2010 17:51:11 +0000

I was reading a recent interview between Ernst & Young (E&Y) and Jeffrey Owens, the Director of the OECD Centre for Tax Policy and Administration shortly after the June 2010 Toronto G20 meeting; and was struck by the conversation and implications…and found myself wondering how much is possible in this global environment? Just a bit [...]

Christmas before Thanksgiving?

Wed, 24 Nov 2010 23:50:40 +0000

Before I start whining I just want to tell you that Thanksgiving is absolutely my favorite holiday. I love having a day to reflect on all of the things I am thankful for while spending time with my family and close friends. I know thanks shouldn’t just be reserved for this one special day, but [...]

Product Questions with Betty Hanlon: Video Part 1

Tue, 23 Nov 2010 17:56:45 +0000

While Red Moon Solutions was at the Vertex Conference in Orlando , we had the pleasure of meeting Betty Hanlon of Quanex Building Products. Betty describes some of the accounting frustrations she has encountered and Traci Wheeler and Kelley Lear explain how Red Moon Solution’s custom fixed assets management and bonus depreciation solutions can help.

Is Twitter for the Corporate Tax Pro?

Thu, 18 Nov 2010 19:07:47 +0000

Recently, someone told me that a corporate tax software vendor said they aren’t active on Twitter because “their people” aren’t on Twitter. By “their people”, I am assuming they meant corporate tax professionals. While I agree that a lot of the clients we work with are not actively using Twitter today, it did prompt me [...]

Business Travel Gripes

Wed, 17 Nov 2010 21:11:35 +0000

As we speak, I am on the second leg of an early Monday morning flight for business. Earlier, as a surprisingly uneventful first leg came to an end, the flight attendant rapidly began reading off the connections and gates for the passengers. As she read my final destination, I made note of the gate…B15. Upon [...]

Builders vs. Destroyers

Tue, 16 Nov 2010 19:03:55 +0000

Today I was reminded of an old story in a newsletter I receive from Jim Paluch, President of JP Horizons, about builders and destroyers. The story goes like this: A railroad crew was working in the hot August sun replacing railroad ties and adjusting tracks. As they labored in the blazing heat, an engine pulls [...]

Did Taxpayers Actually Get A Break?

Fri, 12 Nov 2010 14:57:02 +0000

Well, at most of the conferences I have attended since the new IRS reporting requirements for Uncertain Tax Positions first was announced by Douglas Shulman, I have heard about a lot of worry and consternation. At the Vertex Exchange 2010, I heard the same, however I also heard a minor twist…which was the belief that [...]

Top 10 Reasons Why Tax Departments Fail

Wed, 10 Nov 2010 20:14:29 +0000

Ever wonder why so many tax IT projects fail? My whine this Wednesday is providing a quick and “dirty” list of why they do fail…this list is uncovers the common sense failures and the plain painful realities of IT project management. I was inspired by quotes taken from a larger list shared by Tony Collins who writes a well researched blog on related IT failures in the UK. Read on and share our pain.

7 Steps to Creating Your 4-Hour Workweek

Tue, 09 Nov 2010 19:44:01 +0000

Data was compiled. Numbers were crunched. Long hours were worked. Exhaustion set in. This was, not too long ago, the scene of many tax departments as corporate tax pros raced to meet looming filing deadlines. Now, I’m curious: after all that stress, is there anyone in a corporate tax department who wouldn’t love to work [...]

3 Solutions: Improving the Lives of Tax Pros

Fri, 05 Nov 2010 15:39:48 +0000

As promised…here is Part II from the Interactive Panel Discussion on Tax Transformation. The panel was moderated by Bob Norton the Chief Taxation Officer from Vertex, with a panel of industry experts including Bob Adams, formerly with the IRS on LMSB (now with RSM McGladrey), Anne Giffels of Ryan, Inc. and Debbie Schleicher of Grant [...]

Red Whine Wednesday: Hyper-Regulation

Wed, 03 Nov 2010 17:17:37 +0000

Last week at the Vertex Exchange conference in Orlando there was a lot of buzz around one thing in particular. It was top of mind for just about every tax professional we ran into during the three days and was mentioned frequently in many of the sessions we attended. It wasn’t the conference food or [...]

5 Efficiencies of a Paperless Tax Office

Tue, 02 Nov 2010 15:58:29 +0000

At the Vertex Exchange 2010 in Orlando, I was excited to see a session on the Efficiencies of a Paperless Tax Office – from Invoice to Audit presented by Jim Phelps, a Tax Professional within Radiant Systems, and Chris Livingston of Vertex Inc. As Red Moon Solutions has recently launched an exciting new addition to [...]

Vertex Day 2: Changes on the Horizon

Thu, 28 Oct 2010 16:20:31 +0000

Day two of Vertex Exchange in Orlando was packed full of great sessions for conference attendees. There was a good blend of hands-on sessions and tax topics geared toward both direct and indirect tax professionals. One of the more interesting sessions I attended on day two was Selling Tax Transformation to the Enterprise. This interactive [...]

Vertex Exchange 2010: Tax Transformation Interactive Panel Discussion

Wed, 27 Oct 2010 16:43:03 +0000

At the Vertex 2010 in Orlando, the opening day of the conference started with some lively conversation! In fact, I think I will need to break this blog post into multiple parts… We intended to follow along for an interactive panel discussion on Tax Transformation, and the discussion became so interactive that the audience participation [...]

Interview with TJ Turner – Red Moon TV

Tue, 26 Oct 2010 20:39:46 +0000

Kelley Lear of Red Moon Solutions interview TJ Turner regarding exciting advancements with the Vertex Enterprise Architecture. Watch the video recorded live from the Vertex Conference in Orlando.

Vertex Day 1: 6 Steps to Start IFRS Planning

Tue, 26 Oct 2010 18:48:30 +0000

The first day at Vertex Exchange, held at Walt Disney World’s Swan and Dolphin resort in Orlando, Florida, was full of great tax sessions and networking opportunities. We started the day with the other sponsors, talking to lots of tax professionals as they wandered in for breakfast. When sessions began, there were a number of [...]

5 Orlando Destinations (Without a Tourist in Sight)

Tue, 26 Oct 2010 16:21:45 +0000

As the Vertex conference launches into full swing, we realized there might be a few of you who would like to explore the “hidden” side of Orlando; one that doesn’t include fanny packs and children on leashes. We agree, which is why we’ve created a list of the Top 5 Orlando Destinations—each of which is [...]

Twitter for Tax Pros: Free eBook Download

Fri, 22 Oct 2010 15:00:24 +0000

Twitter has quickly become one of the largest communication platforms used by businesses and individuals worldwide. From traditional brick-and-mortar companies to big name brands, people are finding great value in Twitter’s ability to connect them with the businesses they know and trust. In this free eBook, you will learn a few marketing basics of Twitter [...]

Going to Vertex or Not – We’ve got News for You!

Thu, 21 Oct 2010 17:49:57 +0000

Are you going to the Vertex Exchange conference in Orlando? If not, we’ve got you covered: we’re broadcasting LIVE during the entire conference! We’ll post updates on Twitter @RedMoonSolution and YouTube, keeping you informed of the latest conference news, as well as interviews with leading professionals in the tax and accounting industry. If you’ll be [...]

Red Whine Wednesday: Out of Control Codes

Wed, 20 Oct 2010 15:33:46 +0000

Before you read my whine, take a look at this image…I think it illustrates my frustrations perfectly! The image says it all! This graphic looks like a cartoon, but it’s frustratingly real…not even a portrayal of the tax code itself, but of the number of pages in the Standard Federal Tax Reporter, published by [...]

Leverage your Unique Strengths: Allow your Company to Shine

Tue, 19 Oct 2010 17:07:42 +0000

I recently attended an Open House at my son’s school—there was a stack of stars sitting by the door, and we were intrigued as to their purpose. Before we left the classroom, teacher asked us to take one, and write five strengths we saw in our child, one for each ‘point’ on the star. [...]

10 Critical Flaws Great Leaders Should Avoid!

Sat, 16 Oct 2010 19:27:03 +0000

I read an article from CPA Trendlines entitled “Top 10 Fatal Flaws for CPA Leaders”, by Rick Telberg, and wanted to share some of my own feelings. I really don’t think these Flaws apply only to CPA leaders. They’re applicable to just about any of today’s leaders. The original source of these “Top 10 Flaws” [...]

Red Whine Wednesday: 5 Reasons Why ERPs are NOT for Tax

Wed, 13 Oct 2010 15:05:49 +0000

Go ahead…take a few minutes and review the picture below: I know it says ‘Finance’, but do you see any reference to Tax? I don’t, and there is a reason. ERPs were not built to support the corporate tax function. Read any of the literature on any of the ERP systems…SAP, JD Edwards, Oracle, PeopleSoft. [...]

Aspire Higher: How Bigger Goals Mean Bigger Success for You

Tue, 12 Oct 2010 16:15:04 +0000

With all of the things we have going on today it is easy to get caught up in the hustle and bustle of everyday life. Running to appointments, meeting deadlines, answering e-mails and phone calls, staying abreast of the latest industry news and regulations, spending time with family and friends… All of the craziness and [...]

Tired of the Yelling? Help Anyway.

Thu, 07 Oct 2010 16:34:31 +0000

The Paradoxical Commandments series is based upon the book by Kent M. Keith “Anyway–the Paradoxical Commandments”.You can find other posts in the series here. Have you ever come across someone who has needed help tying their shoes, young or old? You could see their struggle, but did you risk hearing the adamant rejection, “I can [...]

Red Whine Wednesday: Unhealthy Alphabet Soup

Wed, 06 Oct 2010 20:37:51 +0000

My Whine this week is all about the years of painful acronyms we have all been forced to endure as tax professionals. It’s a veritable alphabet soup! It started out in college for most of us. Learning about the SEC (Securities Exchange Commission), AICPA (American Institute of Certified Public Accountants), and AGI (adjusted gross income) [...]

The Impossible is Possible: 5 Steps to a Happy Tax Department

Tue, 05 Oct 2010 17:49:32 +0000

Efficiency is doing things right; effectiveness is doing the right things. Peter Drucker Pretty much every consultant out there is happy to tell you that the key to a successful tax department is to “streamline efficiency” and “automate workflow” where it makes sense. That sounds great. Just how do you go about doing that? What [...]

Build Your Team–No Matter The Outcome.

Thu, 30 Sep 2010 15:32:29 +0000

How many of you “do the right thing” even though you know there is hell to pay? Why is it harder to do the right thing? And how can we get more people to do the right thing? One of the books sitting on my desk is “Anyway – The Paradoxical Commandments” by Kent M. [...]

Red Whine Wednesday: Fine Whines?

Wed, 29 Sep 2010 20:41:27 +0000

Is there someone you know that just complains all of the time? Or comes to meetings and constantly gives excuses for why something isn’t done or can’t be done? How does it make you feel? My favorite blogger, Seth Godin, recently referred to these people in one of his posts as “critical trolls”. I got [...]

Become Indispensable–or else.

Tue, 28 Sep 2010 14:57:29 +0000

Are you Indispensable? Really. Think about it. Are you? If you haven’t read Seth Godin’s last book, Linchpin, you should drop what you are doing right now and get a copy. This book will change the way you look at what you do. It will challenge convention and, hopefully, inspire you. It has been life [...]

Pay It Forward!

Thu, 23 Sep 2010 13:24:54 +0000

Over the weekend one evening, I was flipping through channels on the TV and came across the movie, Pay It Forward, a 2000 adaptation of the novel by Catherine Ryan Hyde. If you haven’t seen the movie or aren’t familiar with this term, the concept of “paying it forward” is doing one good deed for [...]

Red Whine Wednesday: Bad Customer Service? Not Anymore!

Wed, 22 Sep 2010 16:11:28 +0000

I’ve ranted before and those of you that know me will not be surprised that I am ranting again. Today I’m whining about something that is near and dear to my heart: Bad Customer Service. I can’t stand it!! And I can’t believe how many people in business still deliver it. Their lack of concern [...]

CYA: The Easy Way

Tue, 21 Sep 2010 16:45:46 +0000

There are few things that make your stomach sink quite like realizing you’ve missed a deadline. We’ve all felt it go from bad to worse when we realize—it wasn’t our deadline we missed. It was for our company. I remember a Tax Director telling me that as she walked by one of her staff desks, [...]

Stress Season: You’ve Gotta Commit.

Thu, 16 Sep 2010 16:19:12 +0000

With less than one month until October 15th, it’s time to get serious about filing 2009 individual tax returns. Using today’s technology and easily sourced information, it’s certainly a lot easier to gather and organize information than it was 30 years ago…which reminds me of a funny story: It should not be a huge surprise [...]

Red Whine Wednesday: Listen to Tax, For Pete’s Sake!

Wed, 15 Sep 2010 15:22:51 +0000

Red Whine Wednesdays are a new weekly blog from Red Moon—we’re sharing our biggest Whines about tax, technology and everything in between. See what’s got us talking this week and then share what’s on your mind! It could be a hot topic in tax, an industry-specific complaint, or maybe just a frustration around business practices. [...]

Red Moon Solutions Re-Launches Tax Blog

Tue, 14 Sep 2010 16:30:07 +0000

Red Moon Solutions, a leading provider of specialty tax software solutions, announces the re-launch of their popular tax blog: Intaxication – Tax Buzz with a Twist. The blog will include many fresh ideas from CEO Jim Shedivy, as well as other tax industry expert guest bloggers. Sarasota, FL, September 1-, 2010 – Red Moon Solutions, [...]

Where’s Your "Bucket List"?

Thu, 09 Sep 2010 15:27:30 +0000

How many of you have (honestly) taken time to write down the 100 things you want to do before you kick the proverbial “bucket”? I have not…and I doubt if I ever will. I do have some friends who created bucket lists—they consist only of every golf course they want to play during their lifetime. [...]

Red Whine Wednesday

Wed, 08 Sep 2010 13:28:57 +0000

Playing the Tax Audit Lottery?

Tue, 07 Sep 2010 15:33:45 +0000

This blog is in response to a recent New York Times article entitled: “IRS Plan to Uncover Companies’ Tax Strategies”. It’s always interesting when the Wall St. Journal or New York Times writes an article related to corporate tax departments or corporate tax issues…other than when “material weaknesses” are cited in an overarching article on [...]

About Red Whine Wednesdays

Sun, 05 Sep 2010 15:00:32 +0000

We’re introducing a new weekly blog here at Intaxication…Red Whine Wednesdays! So…what are Red Whine Wednesdays? They’re a chance for you to blow off some steam, to tell us exactly what makes your blood boil when it comes to business, tax or technology. Tax isn’t exactly the most understanding of industries. We’ve all spent 80-plus [...]

Stress Season: Filing Pains

Thu, 02 Sep 2010 14:04:36 +0000

It’s that time of year again! With crunch time affecting most medium and large corporate tax departments around the country and September 15th rapidly approaching, I recalled an experience from the early days of my foray into tax technology. Twelve years ago, I was a relatively new staff member in the tax technology group of [...]

A Match Made in Heaven? Fixed Assets Managers and Property Tax

Tue, 31 Aug 2010 13:48:46 +0000

A month or so ago at the IPT conference in Phoenix, I had the pleasure of meeting Mindy McLees, a senior property tax manager in the LA office of Moss Adams LLP. During our lunchtime conversation, I learned that Mindy’s background was primarily in dealing with property tax matters, while I shared that my background [...]

Fixed Assets Systems: Square Peg, Round Hole? Part II

Thu, 26 Aug 2010 13:28:02 +0000

This blog is the second in the series “Fixed Assets Systems: Square Peg, Round Hole”. To learn more, read the first blog, which touched on fixed asset systems’ necessary qualities. ERP systems have been built by and for accounting professionals. They do not keep tax experts on staff nor do they develop tax technical capabilities; [...]

Want Success? 5 Traits You Should Hire For.

Tue, 24 Aug 2010 14:04:01 +0000

I’m currently looking to fill a few positions here at Red Moon Solutions, as well one of my volunteer organizations. Throughout this process, I am consistently reminded of all the positions for which I have hired before. It seems that it did not matter whether I was adding to a staff of 8,000+ or to [...]

The SaaS Revolution

Thu, 19 Aug 2010 12:38:41 +0000

Where were you when you first learned of the “horrendous havoc” Y2K would bestow upon your company? Do you remember learning about the ‘web’—and how your company needed to “get on” it? Today’s versions are just as unique: “software as a service (SaaS)” and “cloud computing”. How much thought have you given to the ways [...]

Fixed Asset Systems: Square Peg, Round Hole?

Tue, 17 Aug 2010 16:08:20 +0000

Recently, I participated in a Deloitte hosted Dbriefs webcast. It focused on reviewing common tax issues involving fixed assets systems, as well as important considerations when replacing or upgrading current systems. I also had the opportunity to read one of their latest white papers: “Fixed Assets Systems—Why the tax function needs to have a stake [...]

Will Your Team Leave When the Job Market Improves?

Thu, 12 Aug 2010 18:40:13 +0000

A president of a local company recently stated to several other key business leaders, “Our employees are just happy to have a job.” What I wanted to ask is this: How ‘happy’ will they be to stay as the economy turns around and job opportunities open up elsewhere? It will be interesting to see how [...]

Business, Pleasure or Both?

Tue, 10 Aug 2010 17:08:10 +0000

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain While my last several blogs were pretty heavy tax [...]

Get an ROI on Time

Fri, 06 Aug 2010 17:15:25 +0000

I look for a return on investment in everything I do—perhaps you’re the same. These returns show up in a number of forms: financial gain, time with family, bettering the lives of others…the list goes on. This blog is no different—the difference is that I’m trying to improve your ROI, instead of my own. I [...]

Become a Happier Person–Embrace Change

Tue, 03 Aug 2010 20:09:57 +0000

Have you gotten a new mobile device or smart phone lately? How long did it take you to figure it out? Are you like me, just now setting up my voicemail after a month? In any case, the verdict is in—I love all the (in my kids’ words) ‘cool new things’ that my new phone [...]

Stop Resisting. Start Changing.

Thu, 29 Jul 2010 12:37:23 +0000

The Top 10 Reasons Not to Change How often does the phrase “But we’ve never done it that way” come from you? A lot has been written about change, and some say that it is the only constant. So why do so many of us resist it? Our reason for resistance is quite simple – [...]

Legal Entity Simplification: Impossible? Part II

Mon, 26 Jul 2010 16:17:42 +0000

This blog is the second in a two-part series regarding Corporate Legal Entity Simplification, inspired by Red Moon Solutions Managing Director Kelley Lear’s participation in the Chicago Tax Club (CTC) meetings in June. In today’s regulatory environment, we cannot talk about structural changes and advantages in simplification without talking about code sections in place to [...]

Dismissing IFRS–A Deadly Move.

Wed, 21 Jul 2010 17:42:30 +0000

This blog is in response to a blog posted by Jack Sweeney on the Big Fat Finance blog. Sweeney likened fears regarding the IFRS changeover to the Y2K phenomenon while also suggesting that the switch to IFRS was “off”. Red Moon Solutions’ Kelley Lear shares her rebuttal below. Read the entire original post here. While [...]

Legal Entity Simplification: Impossible?

Fri, 16 Jul 2010 16:15:05 +0000

This blog is the first in a two-part series regarding Corporate Legal Entity Simplification, inspired by Red Moon Solutions Managing Director Kelley Lear’s participation in the Chicago Tax Club (CTC) meetings in June. Although I truly never think that legal entity structures ever could be considered “simple” or in any way “simplified”, I was able [...]

Be a Tax Pro in the Know.

Thu, 15 Jul 2010 15:54:25 +0000

Red Moon Solutions Offers Tax Professional Toolbar, Putting All Tax Pros In The Know Sarasota, FL July 14, 2010 — Red Moon Solutions, a leading provider of specialty tax software solutions, released their latest tool for tax professionals, the Tax Pro Toolbar. The Red Moon Solutions Tax Pro Toolbar is a free browser tool that [...]

Appeals Attacks: What The States Aren’t Telling You.

Tue, 13 Jul 2010 13:37:23 +0000

While at the IPT Conference, I was lucky enough to attend a great session called “After the Audit and Through the Appeal moderated by Michael McLoughlin Esq. (Partner Reed Smith), and joined by Tov Haueisen (Senior Tax Manager – General Electric Company) and Neal Meadows, CPA (Clear Channel Communications, Inc.). The session covered the handling [...]

Outrageous, Unfair Rulings–Are You Next? Part II

Thu, 08 Jul 2010 13:36:45 +0000

In this series, Red Moon Solutions Managing Director Kelley Lear recounts “Outrageous Cases, Rulings and Arguments” discussed during a recent meeting of the Chicago Tax Club. This is the second in the series. The next and “most egregious case” that was covered in the in the CTC meeting was “Triple-S Management Corp v. Municipal Revenue [...]

Outrageous, Unfair Rulings–Are You Next?

Tue, 06 Jul 2010 12:07:30 +0000

In this series, Red Moon Solutions Managing Director Kelley Lear recounts “Outrageous Cases, Rulings and Arguments” discussed during a recent meeting of the Chicago Tax Club. This is the first in the series. I love attending Chicago Tax Club (CTC) meetings…they always contain pretty heavy content (and often amusing), not simply those “fluff” pieces that [...]

Red Whine Wednesday: Out of Control Codes

Wed, 20 Oct 2010 15:33:46 +0000

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Leverage your Unique Strengths: Allow your Company to Shine

Tue, 19 Oct 2010 17:07:42 +0000

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10 Flaws that Great Leaders Should Avoid!

Thu, 14 Oct 2010 16:14:54 +0000

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Red Whine Wednesday: 5 Reasons Why ERPs are NOT for Tax

Wed, 13 Oct 2010 15:05:49 +0000

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Aspire Higher: How Bigger Goals Mean Bigger Success for You

Tue, 12 Oct 2010 16:15:04 +0000

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Tired of the Yelling? Help Anyway.

Thu, 07 Oct 2010 16:34:31 +0000

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Red Whine Wednesday: Unhealthy Alphabet Soup

Wed, 06 Oct 2010 20:37:51 +0000

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The Impossible is Possible: 5 Steps to a Happy Tax Department

Tue, 05 Oct 2010 17:49:32 +0000

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Build Your Team--No Matter The Outcome.

Thu, 30 Sep 2010 15:32:29 +0000

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Red Whine Wednesday: Fine Whines?

Wed, 29 Sep 2010 20:41:27 +0000

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Become Indispensable--or else.

Tue, 28 Sep 2010 14:57:29 +0000

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Pay It Forward!

Thu, 23 Sep 2010 13:24:54 +0000

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Red Whine Wednesday: Bad Customer Service? Not Anymore!

Wed, 22 Sep 2010 16:11:28 +0000

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CYA: The Easy Way

Tue, 21 Sep 2010 16:45:46 +0000

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Stress Season: You've Gotta Commit.

Thu, 16 Sep 2010 16:19:12 +0000

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Red Whine Wednesday: Listen to Tax, For Pete's Sake!

Wed, 15 Sep 2010 15:22:51 +0000

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Red Moon Solutions Re-Launches Tax Blog

Tue, 14 Sep 2010 16:30:07 +0000

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Where's Your "Bucket List"?

Thu, 09 Sep 2010 15:27:30 +0000

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Red Whine Wednesday

Wed, 08 Sep 2010 13:28:57 +0000

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Playing the Tax Audit Lottery?

Tue, 07 Sep 2010 15:33:45 +0000

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About Red Whine Wednesdays

Sun, 05 Sep 2010 15:00:32 +0000

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Stress Season: Filing Pains

Thu, 02 Sep 2010 14:04:36 +0000

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A Match Made in Heaven? Fixed Assets Managers and Property Tax

Tue, 31 Aug 2010 13:48:46 +0000

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Fixed Assets Systems: Square Peg, Round Hole? Part II

Thu, 26 Aug 2010 13:28:02 +0000

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Want Success? 5 Traits You Should Hire For.

Tue, 24 Aug 2010 14:04:01 +0000

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The SaaS Revolution

Thu, 19 Aug 2010 12:38:41 +0000

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Fixed Assets Systems: Square Peg, Round Hole?

Tue, 17 Aug 2010 12:55:01 +0000

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Will Your Team Leave When the Job Market Improves?

Thu, 12 Aug 2010 18:40:13 +0000

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Business, Pleasure or Both?

Tue, 10 Aug 2010 17:08:10 +0000

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Get an ROI on Time

Tue, 03 Aug 2010 20:09:57 +0000

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Stop Resisting. Start Changing.

Thu, 29 Jul 2010 12:37:23 +0000

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Legal Entity Simplification: Impossible? Part II

Tue, 20 Jul 2010 17:16:56 +0000

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Legal Entity Simplification: Impossible?

Fri, 16 Jul 2010 14:16:43 +0000

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Be a Tax Pro in the Know.

Thu, 15 Jul 2010 15:54:25 +0000

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Appeals Attacks: What The States Aren't Telling You.

Tue, 13 Jul 2010 13:37:23 +0000

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Outrageous, Unfair Rulings--Are You Next? Part II

Thu, 08 Jul 2010 13:36:45 +0000

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Outrageous, Unfair Rulings--Are You Next?

Tue, 06 Jul 2010 12:07:30 +0000

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IPT Conference: Day Two

Wed, 30 Jun 2010 15:53:17 +0000

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IPT Conference: Day One

Tue, 29 Jun 2010 14:24:25 +0000

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Fail to Change? Plan to Fail.

Tue, 22 Jun 2010 20:15:56 +0000

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Presently Pointless: Capital Gains Tax

Wed, 16 Jun 2010 15:12:29 +0000

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Is Washington Killing Integrity?

Fri, 11 Jun 2010 14:08:24 +0000

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Killer Assumptions

Tue, 08 Jun 2010 15:29:26 +0000

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A New High in Executive Bonuses

Tue, 01 Jun 2010 17:14:53 +0000

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ACT Conference: Day Three

Thu, 27 May 2010 18:20:11 +0000

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ACT Conference: Day Two

Wed, 26 May 2010 15:03:37 +0000

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ACT Conference: Day One

Tue, 25 May 2010 17:00:00 +0000

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Sharing the Social Good

Thu, 20 May 2010 16:17:35 +0000

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The Tipping Point

Thu, 13 May 2010 15:00:00 +0000

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The Last Minute

Tue, 11 May 2010 12:00:52 +0000

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Kermit, Does Lime Green Count?

Thu, 06 May 2010 13:58:07 +0000

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IFRS White Paper: Fair Value Measurement

Tue, 04 May 2010 18:43:37 +0000

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A Virtual Tax Audit Room

Thu, 29 Apr 2010 16:22:03 +0000

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Roth IRA: Wealth Maker?

Tue, 27 Apr 2010 12:19:55 +0000

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To Convert or Not Convert: The Roth IRA Dilemma

Thu, 22 Apr 2010 15:00:00 +0000

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Changing the Rules of the Tax Audit Game

Tue, 20 Apr 2010 15:00:00 +0000

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Filing an Extension?

Thu, 15 Apr 2010 15:00:00 +0000

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Tax Time

Tue, 13 Apr 2010 21:38:04 +0000

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Eliminating Costs of Tax Operations

Thu, 08 Apr 2010 14:38:14 +0000

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Got LKE? Part II

Tue, 06 Apr 2010 15:00:00 +0000

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Got LKE?

Thu, 01 Apr 2010 15:00:00 +0000

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IFRS as Viewed from the Tax Department

Tue, 30 Mar 2010 13:49:22 +0000

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ROI on Tax Planning vs. Tax Compliance

Thu, 25 Mar 2010 12:23:00 +0000

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Death and Taxes, Part II

Tue, 23 Mar 2010 12:23:00 +0000

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Corporate Social Responsibility and the Luck of the Irish

Wed, 17 Mar 2010 18:02:00 +0000

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Death and Taxes, Part I

Tue, 16 Mar 2010 19:34:00 +0000

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