Taking Advantage of Technology
Many CPAs know that technology plays a crucial part in their efforts to remain competitive and provide clients with the services they need. Virginia sole practitioner John Gill has reaped numerous benefits in using it to conduct his tax research and to enhance his practice development. His experience demonstrates how small firms can broaden their services by relying on all the tools available to them. MAKING THE CONNECTION Gill, whose Virginia firm concentrates on traditional services, as well as international and tax problem resolution, has found that technology not only cuts down on the time required for tasks such as tax research but also opens up new business opportunities. When conducting research, he uses one of two approaches. CD-ROM. Gill uses RIA's Tax Desk as an electronic replacement for the 26-volume printed RIA tax service to which he once subscribed. One of the many values of these CD-ROM services is that they offer unlimited federal and state tax forms. Tax Desk--an abbreviated version of RIA's On Point--doesn't include state research data. For primary tax research, Gill believes CD-ROM services usually are more thorough and convenient than searching the Web for information, at least for now. For example, it is possible to access the federal tax code online (http://www.law.cornell.edu/ uscode/26), as well as search the Internal Revenue Service Web page (http: //www.irs.ustreas.gov) for forms, but some CD-ROMs offer what many practitioners need in one package. In addition, he uses OneDisk from Tax Analysts to research actual court cases. "It replaces having to go to the law library and look up and read the case there." He notes that most CD services don't have the actual text of the case but, instead, offer opinions, commentary and advice as well as IRS regulations. While lack of cases necessitates the use of another source, the services' opinions and commentaries are good. One valuable component of CD-ROMs for Gill has been the client planning letters included for many situations. For example, one of Gill's clients had a question on Internal Revenue Code section 179 depreciation. When the CPA consulted his tax research disk, he found a sample letter that explained the issue to the client, as well as advice and commentary for practitioners on the subject. "In less than five minutes you can prepare a two-page letter that looks like you spent three hours on it." New opportunities. Online forums are "one of our biggest research tools" Gill says. Until recently, he used the AICPA Accountants Forum on CompuServe to get advice and feedback from other professionals. (The Institute planned in mid-June to migrate from the Accountants Forum to the AICPA Online Forum, located at the Institute's Web site--http://www.aicpa.org. The new Forum is designed to offer the same benefits to users as the Accountants Forum once did.) "I used the Accountants Forum if I had done my primary research on a tax question but the issue was really outside my area of expertise," Gill explains. "I could post a note on the Forum, give the facts of the situation, explain what I've found and ask for opinions. Within two to three hours, I got lots of comments from other professionals." As a result, Gill's small firm can tap into expertise it couldn't afford to hire full-time. "Because of relationships I've made on the Internet I've been able to take on work that I otherwise would have been unable to do." In addition, as a sole practitioner, Gill can use online colleagues as a valuable sounding board. There's generally no charge for advice traded online, although Gill has found other professionals whom he has subsequently paid for consulting help--or vice versa. "Mostly, though, the relationships consist of professionals helping other professionals and we all gain from the interaction. I have somebody else look over the work and give me his other thoughts." Gill also subscribes to an Internet newsgroup and two Internet mail lists for tax advice. …