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Accounting

Physician Accountants Miami

Physician Accountants Miami

As Physician Accountants Miami, we serve an integral part of the community, physicians and dentist. We are a niche boutique Physician Accountants Miami CPA firm. Physician Accountants Miami was founded in 1983 by Gustavo A. Viera CPA after rising to Senior Manager at PriceWaterHouseCoopers.

Why choose Physician Accountants Miami

Doctors and other health care providers face many challenges as they try to keep their practices running smoothly. Dealing with serious issues such as reduced reimbursements from Medicare and insurance providers, as well as the constant threat of medical malpractice lawsuits, physicians often find themselves spending too much time worrying about financials. Sadly, this stress takes valuable time away from their primary objective—caring for patients.

Physician Accountants Miami has a team of experienced CPAs with decades of experience with physician accounting working alongside doctors, dentists, clinics, hospitals, nursing homes, and other health care facilities. Physician Accountants Miami is also one of the few CPA firms in Miami that are affiliated with Tax attorneys that meet with our clients as needed, in our offices or your office.

The healthcare industry today is all business, which makes it even more important that you have the right financial partner on your side. At Physician Accountants Miami, a CPA firm serving the needs of doctors, physician groups and dentist, we realize that our clients have specific tax and financial needs so we have assembled a dedicated team ready to assist with managing all aspects of your practice.

As a full-service Physician Accountants Miami CPA firm, we provide a wide range of accounting, tax planning, wealth management and physician accounting consulting services to meet the needs of your healthcare practice. We work with doctor and physician practices of all sizes and specialties from sole practitioners to large medical groups.

We pride ourselves on providing physician accounting services designed to simplify the business side of your practice so you can address the more important issues; your patients. Physician Accountants Miami offer:

Physician Accountants Miami Services:

  • Financial statement preparation
  • Outsourced controller/CFO
  • Outsourced accounting and bookkeeping
  • Tax planning and preparation – business and individual
  • Payroll and payroll tax reporting
  • Accounting software support – QuickBooks
  • Annual cost reporting for Medicare and Medicaid providers
  • Incorporation
  • Entity selection – (Sole proprietor, LLC, S Corp, C Corp)
  • IRS Representation
  • Cash flow and budgeting analysis
  • Debt restructuring
  • Financial planning and analysis
  • Mergers and acquisitions
  • Debt restructuring
  • Retirement planning
  • Succession planning
Practice Management Services:
  • Choosing the right type of entity – (Sole proprietor, LLC, S Corp, C Corp)
  • Tax planning and structuring
  • Strategic planning
  • Practice start-up consultation
  • Practice valuation
  • Overhead analysis
  • Contract review and negotiation
  • Capital acquisitions
  • Lease vs. buy analysis
  • Business continuation planning
  • HIPAA/compliance
  • Operational review
  • Financing assistance
  • Business plans
  • Equipment acquisition planning
Practice Transition Services:
  • Mergers
  • Acquisitions
  • Buy/sell agreements
  • Real estate sale or purchase
  • Spin-offs
  • Financing
  • Liquidation or reorganization of a practice
  • Litigation
  • Succession planning
  • Practice transitions – sale, merger, acquisition, partnership

Wealth Management Services

  • Retirement planning
  • Succession planning
  • Business continuation planning
  • Business exit strategies
  • Executive compensation plans
  • Buy/sell agreements
  • Benefit plan selection and structuring

For this reason you can feel confident that our Physician Accountants Miami will always keep you abreast of all the latest industry trends, government regulations and consumer demands to make your business stronger and more profitable.

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Business Trends

Accountant Miami

An Accountant Miami is a practitioner of accountancy or accounting, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.

The Big Four auditors are the largest employers of Accountant Miami. However, most Accountant Miami are employed in commerce, industry and the public sector.

In the United States, licensed accountants are Certified Public Accountants (CPAs) and in certain states, Public Accountants (PAs). Unlicensed Accountant Miami may be Certified Internal Auditors (CIAs), Certified Management Accountants (CMAs) and Accredited Business Accountants (ABAs). The difference between these certifications is primarily the legal status and the types of services provided, although individuals may earn more than one certification.

Additionally, much accounting work is performed by uncertified Accountant Miami, who may be working under the supervision of a certified accountant. As noted above the majority of accountants work in the private sector or may offer their services without the need for certification.

A CPA is licensed by a state to provide auditing services to the public. Many CPA firms also offer accounting, tax, litigation support, and other financial advisory services. The requirements for receiving the CPA license vary from state to state, although the passage of the Uniform Certified Public Accountant Examination is required by all states. This examination is designed and graded by the American Institute of Certified Public Accountants.

A PA (sometimes referred to as LPA—Licensed Public Accountant) is licensed by the state to practice accountancy to a similar extent as are CPAs, except that PAs are generally not permitted to perform audits or reviews (Delaware is an exception, in that PAs are permitted to perform audits and reviews). A PA’s ability to practice out of state is very limited due to most states having phased out the PA designation. While most states no longer accept new PA license applicants, six states still accept PA applicants for limited practice privileges within the state. As with the CPA, the requirements for receiving the PA license vary from state to state. Most states require a passage of either 2 or 3 (out of 4) sections of the CPA exam or passage of the Comprehensive Examination for Accreditation in Accounting which is administered and graded by the Accreditation Council for Accountancy and Taxation (ACAT).

A certified internal auditor (CIA) is granted a certificate from the Institute of Internal Auditors (IIA), provided that the candidate has passed a four part examination. One of the four parts is waived if the candidate has already passed the CPA Exam. A CIA typically provides services directly to an employer rather than to the public.

A person holding the Certificate in Management Accounting (CMA) is granted the certificate by the Institute of Management Accountants (IMA), provided that the candidate has passed an examination of two parts and has met the practical experience requirement of the IMA. A CMA provides services directly to employers rather than to the public. A CMA can also provide services to the public, but to an extent much lesser than that of a CPA.

A person holding the ABA credential is granted accreditation from the Accreditation Council for Accountancy and Taxation (ACAT), provided that the candidate has passed the eight-hour Comprehensive Examination for Accreditation in Accounting which tests proficiency in financial accounting, reporting, statement preparation, taxation, business consulting services, business law, and ethics. An ABA specializes in the needs of small-to-mid-size businesses and in financial services to individuals and families. In states where use of the word “accountant” is not permitted by non-licensed individuals, the practitioner may use the designation Accredited Business Adviser.

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Business Trends

Tax Accountant Miami

Taxpayers of all types can benefit from hiring a Tax Accountant Miami. But before you spend your hard-earned cash, here’s some simple steps you can take to protect yourself, to find the right professional for your situation, and some questions to ask.

Understand Why You Need a Tax Accountant

You should take some time to focus on exactly what you need your Tax Accountant Miami to do. Here are some common situations:

  • Preparing your own taxes is time-consuming, stressful, or confusing.
  • You want to make sure your tax returns are accurate.
  • Your tax situation is pretty complex, and you need specialized advice and tips.
  • You would like to pay as little taxes as possible, and need detailed planning and advice.
  • You are facing a tax problem, such as filing back taxes, paying off a tax debt, or fighting an IRS audit.
  • You run a business, invest in the stock market, own rental property, or live outside the United States.
  • Finding Tax Accountant Miami
  • You should find an experienced tax accountant who specializes in the areas you need help with. Here are my tips for finding the right professional who has the specialized tax expertise you need:
  • Referrals are your best bet. Ask everyone you can think of: family, friends, business owners, financial advisors and attorneys. It will help to ask someone who has a similar tax situation to yours.
  • Be wary of an Tax Accountant Miami who promises you big refunds or that says you can deduct everything. You, not the accountant, are ultimately responsible for the information on your tax return.
  • Do not be afraid to shop around or to change Tax Accountant Miami if you are not comfortable.
  • Retail tax franchises such as H&R Block, Jackson Hewitt, and Liberty Tax Service offer competent tax service for individuals who need to file relatively straight-forward tax returns. Some tax preparers will be more experienced than others, and you can sometimes find CPAs and Enrolled Agents working in these offices. Prices are often determined by how many tax forms need to be filled out. Here’s a tip: ask if you can meet with a CPA, enrolled agent, or senior tax preparer. You’ll pay the same, but you’ll get to speak with a seasoned professional.
  • Local, independent Tax Accountant Miami often specialize in the tax needs of individuals and small businesses in their neighborhood. Again, some independent tax accountants will be more experienced than others. Ask if the firm has the expertise to handle your taxes.
  • Enrolled Agents (EAs) are tax professionals who have passed a rigorous test and background check administered by the IRS. Enrolled agents often specialize and are best for complex tax situations.
  • Certified Public Accountants (CPAs) are accountants who have passed the rigorous CPA Exam and are licensed by the state they work in. CPAs will specialize in a specific area, such as audits, tax, or business consulting. CPAs are best at complex accounting work, and not all CPAs handle tax issues.

The tax industry is constantly changing and tax professionals are subject to various federal and state regulations. Here are some questions you can ask to help ensure you find an experienced, trustworthy Tax Accountant Miami:

  • What licenses or designations do you have?
  • How long have you been in the tax business?
  • What tax issues do you specialize in?
  • Do you have the knowledge and experience to handle my tax situation?
  • What are your fees?
  • Do you outsource any of your work? Do you perform the work personally? If not, what is the review process? Who signs the returns?
  • How long, approximately, will it take to finish my taxes?
  • What’s your privacy policy? Will you share my tax information with any third-parties?
  • Do you believe I’m paying too much, too little, or just the right amount of tax?

 

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Business Trends

CPA in Miami

CPA in Miami is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA.

Individuals who have passed the Exam and become CPA in Miami but have not either accomplished the required on-the-job experience or have previously met it but in the meantime have lapsed their continuing professional education are, in many states, permitted the designation “CPA Inactive” or an equivalent phrase. In most Florida, only CPA in Miami who are licensed are able to provide to the public attestation (including auditing) opinions on financial statements. The exceptions to this rule are Arizona, Kansas, North Carolina and Ohio where, although the “CPA” designation is restricted, the practice of auditing is not.

Many states have (or have had) a lower tier of accountant qualification below that of CPA in Miami, usually entitled “Public Accountant” or “Licensed Public Accountant” (with designatory letters “PA” or “LPA”), although other titles have included “Registered Public Accountant” (RPA), “Accounting Practitioner” (AP), and “Registered Accounting Practitioner” (RAP). This designation was intended as a designation for non-certified accountants who were practicing public accounting before a state accountancy law was enacted to regulate the accounting profession. The majority of states have closed the designation “Public Accountant” (PA) to new entrants, with only about six states continuing to offer the designation. Many PAs belong to the National Society of Accountants.

Many states prohibit the use of the designations “Certified Public Accountant” or “Public Accountant”/”Licensed Public Accountant” (or the abbreviations “CPA” or “PA”/”LPA”) by a person who is not certified as a CPA or PA in that state. As a result, in many circumstances, an out-of-state CPA in Miami is restricted from using the CPA designation or designators letters until a license or certificate from that state is obtained.

Florida additionally prohibits the use of the designations “accountant” and “auditor” by a person not certified as a CPA in Miami, unless that person is a CPA in another state, a non-resident of Florida, and otherwise meets the requirements for practice in Florida by out-of-state CPA firms and practitioners.

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Business Trends

CPA

Gustavo Viera is a licensed CPA in Florida since 1983. More than 25 years of accounting, tax and audit experience.

Categories
Tax

CPA Firm in Miami Reasonable Salary for S Corporation Owners

CPA Firm in Miami Reasonable Salary for S Corporation Owners

Besides its single level of taxation as a pass through entity, CPA Firm in Miami  remind clients that the advantage of an S corporation over a C corporation is that a shareholder’s share of the corporation’s net income is not considered self-employment earnings and therefore is not subject to self-employment tax (13.3% in 2011 and 2012). CPA Firm in Miami VieraCPA notes the stark contrast to that of a general partner, LLC member, or sole proprietor, for whom net earnings from self-employment include any trade or business income and a partner’s distributive share of income from a trade or business carried on by the partnership according to CPA Firm in Miami , Gustavo A Viera.

However, if the S corporation shareholder (let’s say an CPA Firm in Miami ) provides services to the S corporation, he or she must receive an adequate or reasonable amount of compensation for these services. The S corporation may deduct the compensation expense and must pay the employer share of employment taxes: 6.2% Social Security tax and 1.45% Medicare tax. The shareholder-employee (i.e. CPA Firm in Miami ) is responsible for 4.2% Social Security tax (in 2011 and 2012) and 1.45% Medicare tax. The S corporation is also responsible for Federal Unemployment Tax Act (FUTA) taxes. Minimizing these taxes provides an incentive to keep the S corporation shareholder’s wages low and to characterize most of the pass through income as distributions.

The U.S. Government Accountability Office reported in 2009 on employment tax noncompliance among S corporation shareholders. The IRS has been pursuing this perceived abuse of inadequate compensation in favor of dividend distributions to shareholder-employees and has won a number of cases, according to CPA Firm in Miami VieraCPA.

According to CPA Firm in Miami VieraCPA, the IRS has the authority to reclassify dividends, distributions, or payments to the shareholder-employee, including loan repayments, as compensation if it deems compensation inadequate or unreasonable. The courts have held that the question of reasonable compensation is one of fact, determined on a case-by-case basis. The IRS has posted on its website three major sources of gross receipts it will consider when determining reasonable compensation: the services provided by the shareholder, the services of non-shareholder employees, and the capital and equipment of the corporation.

IRS fact sheet FS-2008-25, Wage Compensation for S Corporation Officers line an CPA Firm in Miami with Sub S status, lists the following factors in determining reasonable compensation: training and experience, duties and responsibilities, time and effort devoted to the business, dividend history, payments to non-shareholder employees, timing and manner of paying bonuses to key people, what comparable businesses pay for similar services, compensation agreements, and the use of a formula to determine compensation. Sources of information on comparable compensation for services include the U.S. Department of Labor’s Bureau of Labor Statistics, employment agencies, and a market analysis. The key in defending a claimed compensation amount is to document all research to support the amount.

Shareholders who are officers of a corporation who do not perform any services or perform only minor services in that capacity and who do not receive or are not entitled to receive direct or indirect compensation are not considered employees of the corporation. Thus, since most shareholder-officers of closely held corporations do provide more than minor services to the corporation, they most likely are considered employees. If a shareholder is an officer who is considered an employee, CPA Firm in Miami point to Section 530 of the Revenue Act of 1978, P.L. 95-600, does not apply as a safe harbor for re-characterizing the shareholder’s compensation because, under Sec. 3121(d)(1), corporate officers are statutory employees.

The S corporation entity form provides planning opportunities to avoid payroll taxes or self-employment taxes on distributions that are instead a return on capital and assets. With the increase in Medicare tax of an additional 0.9% for high-wage earners scheduled to begin in 2013, this may represent a larger opportunity. The key in defending against a possible audit and re-characterization of dividends is to document all research and analysis of the determination of the shareholder-employee salary.

 

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Business Trends

Miami CPA Firm Spotlights Inequality of Tax Code

Miami CPA Firm Spotlights Inequality of Tax Code

Miami CPA Firm Gustavo A Viera CPA reflect on the Tax Code and how it has contributed to rising income inequality in recent decades as middle- and lower-income Americans have seen their incomes stagnate while the wealthiest have experienced staggering income growth, according to Miami CPA Firm VieraCPA.

Miami CPA Firm VieraCPA reports from the his headquarters in Palmetto Bay Florida, argues that deficit-financed tax cuts do not spur economic growth. Those who have received the largest income gains in the past three decades have also seen the largest tax cuts.

Since the last major tax reform in 1986, the number of loopholes, special preferences and the volume of the Tax Code have ballooned, resulting in a system widely considered to be inefficient, complex, and unfair, as well as an impediment to growth, Miami CPA Firm VieraCPA noted.

“Drawing a page from successful prior reform efforts, Miami CPA Firm advocates of comprehensive tax reform generally urge that we broaden the base and lower rates,” said the report. “However, the current economic context for tax reform is far more challenging than it was in 1986. Most immediately, the economy is still in the midst of a slow recovery with an unemployment rate that remains too high. Even with robust rates of job growth, it will take years to close the jobs gap. An important role of fiscal policy in the near term is to support recovery in the labor market.”

Miami CPA Firm VieraCPA acknowledge that while a larger number of families do not pay federal income taxes nowadays, it took issue with the idea that these households do not pay any form of taxes, as many suggest. “In fact, most Americans pay more in payroll taxes than in income taxes,” said Miami CPA Firm VieraCPA.

“Those who pay no federal taxes—on payroll or income—are disproportionately young (such as students who will pay taxes after they join the workforce) or old (such as retirees who paid taxes over their lifetimes), or temporarily out of work.”

Miami CPA Firm VieraCPA argues that cutting individual income tax rates would modestly increase the earnings of the typical American family, but substantially increase the federal budget deficit.

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Business Trends

Engaging Your CPA in Miami

The more you engage your CPA in Miami with your company’s future, the better the overall company performance.

So, the picture of the CPA in Miami future has to be compelling. CPA in Miami have to persuade people that they want to play a part in making it a reality.

Nearly all of the CPA in Miami we know agree with the sentiment, but getting the partners engaged isn’t always easy. So, how do CPA in Miami go about engaging the partners and making sure they remain that way?

As a CPA in Miami we get our Miami CPAs pulling together. Both have value, but building a bridge is a lot more compelling to most people. The picture becomes even more compelling when it’s a bridge to somewhere people want to go. It’s the ultimate destination that people engage with. And the journey is a lot more enjoyable (even if you’re not actually that keen on parts of it) if the endpoint is exciting and has benefits you share in.

These last points are critical. CPA in Miami need to understand the benefits to the firm and themselves. And they need to know what the journey will entail (what we call the “how to”). All the professionals we know are highly analytical, and they need to know the detail of the journey before they’ll embark on the voyage. Just saying, “We want to be a top 10 CPA in Miami,” for example, won’t cut it.

So, given the nature of the people in the CPA in Miami — who, in addition to being highly analytical, always want to calibrate how they’re doing — there have to be distinct milestones so everyone can measure progress. That doesn’t mean that the firm can’t be opportunistic. The analogy of a journey is a good one. Sometimes the winds change or the train gets cancelled or there’s the opportunity to visit somewhere unexpected and you change your course. The destination doesn’t change — only how you get there.

SEEING VISIONS

When we talk about having a compelling vision, we don’t just mean one that’s well-crafted. We mean a vision with a clear destination, strategies for getting there (the “how to”), the way progress will be measured and the benefits to the partners going on the journey.

Let’s look at an example of what can happen when all the elements (vision, journey, milestones and a positive answer to “what’s in it for me”) aren’t in place.

The managing partner of a CPA in Miami knows explained how he had come back from Harvard Business School’s Leading Professional Service Firms Program with renewed energy and a determination to drive the firm forward. So he outlined his vision of moving the firm from its regional base to a leading national firm to his partners and talked briefly about what they needed to do to get there. But, to his abject disappointment, nothing happened.

Concerned about the lack of action, the managing partner visited all of the offices to talk through the plans and, during these visits, the partners’ concerns became apparent. While they really liked the idea of becoming a national firm, they felt that the only way to achieve it was through a merger, which they felt they would be on the wrong side of. As a result, the partners didn’t engage with the vision and returned to the thing they knew best: serving their clients.

In the above example, the vision initially appeared positive, but when subjected to the partners’ analytical thinking, the “how to” was clearly negative and the “what’s in it for me” decidedly negative.

There is no chance of the partners being engaged unless they are an active part of the process. There is no point in managing partners coming up with a vision on their own or with their executive team and expecting it to be taken up by the other partners without question. If the partners are going to engage with the vision, it’s critical that they have an opportunity to have their say about each of the elements.

Getting the influential partners onside. That means doing at the beginning of the process what the managing partner in the example did toward the end: actively solicit the partners’ opinion. In a small firm, that’s relatively easy, but scale brings major difficulties. Which brings us to one of our more obvious statements — managing partners shouldn’t try to do everything themselves. They need the help and support of the partners who can influence other partners’ behavior. Sometimes, that’s the partners in managerial positions, but more often than not, it’s the heavy-hitting client partners.

So, the MP’s first task is to get this group of influential partners onside. That means getting them all together (in as many groups as necessary and with the help of a facilitator who understands professional services firms) and getting their thoughts on the vision, the how to, the milestones and the benefits.

• Getting the remaining partners onside. The principle underpinning how to do this is exactly the same with the remaining partners as it was with the influential group. With scale, this means multiple groups in different locations, with the leadership of the individual groups split between the managing partner and members of the influential group. After all of the groups have taken place and the output been distilled, it’s critical that the MP and the influential partners get together to confirm the final story that will go out to the partnership for final confirmation.

• What should a compelling vision contain? While we still see some visions that talk about becoming the leading player in a state or region, we are also seeing a real recognition that a vision is a lot more than the statement we used to see firms use across accounting and the other professional services sectors. The accompanying box (“Big visions,” at right), for example, details the common ideas from the visions of the Big Four firms. As you can see, there are references to clients and people, the two markets that every professional firm operates in, and the ways that the firm endeavours to persuade people in both markets to choose their firm, rather than its competitors.

• The “how to” is as important as the vision statement, if not more so. With so many firms, not just the Big Four, trying to do broadly the same thing, the focus immediately switches to the “how to” and to what we all know — that success is an execution game. The successful firms are the ones that invest time and energy in getting their strategies right and making sure their people have the capability to deliver them.

When it comes to engaging the partners, the vision doesn’t have to provide the fine detail of each of the strategies. But it does need to provide the picture of what the firm wants to build. No partner wants to know every single detail, but each partner expects, and needs, to know the key moves the firm will be making and what the implications are on what they will be doing. So, if the firm is planning to invest heavily in geographic expansion or growing a new service line, the partners need to know the detail of the growth plans (including any direct involvement they may have) and what the investment means for their own plans.

• Measuring progress. Professionals CPA in Miami always want to calibrate how they are doing, so measuring progress on the journey is critical. There must be clarity about the points that the firm should reach at different times and how they will be measured. Progress against the targets should be shared across the partner group, together with the reasons the firm achieved the targets or failed to do so. If the firm failed to reach the target, then how it plans to achieve it in the future should be part of the sharing and subsequent discussion. Naturally, following the discussion, the revised plans should be confirmed back to the partners.

• What’s in it for me? Although the whole purpose of engaging the partners is to commit them to the firm’s future, they also have to see a personal upside in the final destination. That upside can take many forms, but it has to be spelled out. It’s also critical that the descriptions are honest. Smart people quickly stop trusting their leaders if they believe they are being lied to or the downsides are being glossed over.

If, for example, achieving scale is achievable only through a merger, the likely impact of the merger on partner earnings must be addressed. Again, smart people know that earnings may be flat, or even drop, in the short term. The key thing is that the upsides to both the firm and the partners make the initial sacrifice worthwhile.

 

 

Categories
Tax

CPA in Miami Pleads Guilty in Identity Theft Scheme

A CPA in Miami has pleaded guilty to tax fraud charges after he was accused of using his clients’ identities to file for large tax refunds that went to his address.

Jose Magpantay Ramirez’s CPA in Miami, pleaded guilty Wednesday to charges of conspiracy to defraud the IRS, mail fraud, submitting false claims to the U.S. and aiding and abetting.

According to the plea agreement, Ramirez, 72, operated a CPA in Miami Firm out of his residence using the names “L Financial,” “PhotoPure,” and “CashSend Inc.”  From February 2006 until about March 2009, he and others fraudulently obtained income tax refund checks using his clients’ names. Ramirez admitted he prepared tax returns using his clients’ identities, claiming no tax refund due and represented to his clients that he would file the tax return with the IRS.

Thereafter, the CPA in Miami would prepare and file with the IRS other tax returns (both Form 1040 or 1040X), in the names of his clients and without the clients’ consent.  On the subsequent tax returns, Ramirez would list, or cause others to list, bogus expenses and deductions that generated a false tax refund.

Ramirez admitted he also directed the false refund to be mailed to his own Valley Village address and other addresses associated with him.  He then falsely endorsed or directed others to falsely endorse the fraudulent refund checks and deposited them into bank accounts in the names of his businesses.

In total, the CPA in Miami admitted he caused over 200 false income tax returns to be filed with the IRS, causing the IRS to issue over $1.5 million in refunds for which he was not entitled. He faces up to 150 years in prison and a fine of up to $2.75 million.

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Business Trends

Accountability Equals Commitment

In a recent exchange with a group of Miami Accounting Firms, we were discussing how Accountability Equals Commitment for goals that were being set by each individual. The word that leapt into my mind was commitment. The word commit comes from the Latin word committere, which means to connect, entrust. As leaders in the Miami Accounting Firm, we make commitments every day to our clients, our partners and our staff.

In my practice as a CPA in Miami I think deeply about what those commitments are and ensure that you are not making them too lightly. Each commitment is important and defines what and who is important to you. The demonstration of commitments is a reflection of your character and ultimately says more about you in action than in the words themselves.

Consider the following concepts as you reflect on the commitments that you make in your life:

Commitment is connection: Consider the connection between the goals that you set during strategic planning and the accomplishment of those goals. The connection between the meeting date you established with your mentee and showing up on time and prepared to have a coaching conversation. As a Miami Accountants I think about the commitment between the signing of the engagement and my active participation in the monthly services we provide. Commitment is the connection between our values, intentions and our actions. The connections we make generate our commitments, just as our commitments generate more profound connections.

Passion: This is the foundation of commitment!  Passion is what some call the burning desire within us – the fire that motivates us to set and make progress in our life goals. When passion is missing, our actions lack meaning and we don’t get the results we want. Without passion, our actions are meaningless and flat. Commitment is built from the passions in our lives. Think about your 2012 goals for your Miami Accounting Firm and personally, do they come from deep within – your passions?

Commitment = persistence. If there is true commitment, the support for the goals is uncompromising and unending. The people who set true commitments are willing to put their time, talent and dollars in the support of that commitment. One is willing to do anything in support of the commitment. Commitment drives us and anchors us during challenging times. Think about our recent economic challenges, did your commitment to your firm anchor you and sustain you? Commitment helps us to maintain our integrity; we persist to that which we’re committed. Many Miami Accountants have experienced this commitment in the past few years, and it has served them well.

Commitment is conscious! Commitments should not be made lightly. They require insight and self-awareness, meaning that you must know what your firm’s values and ideals are in order to commit to them! Do you know a Miami Accountant who is a conscientious and productive worker but who’s not happy? Such a person frequently lacks insight and self-awareness. Commitment is difficult for an individual or firm if there is no awareness of what is most important. Commitment requires an ability to observe, strategize and make conscious decisions.

Commitment is purposeful. Commitment involves choice – saying yes to our values and to our passions! Commitment is never haphazard or random. While we may lose our perspective from time to time, commitment always involves choice and intent. Commitment enables us to be purposeful. Great leaders in the firms we serve are purposeful in their pursuit of client service excellence, growth of their team’s talent and increase in firm profits.

Commitment is self-expression. Self-expression is the culmination of who we are and how we’re being. When there’s perfect alignment and congruency between who we are and how we’re being, we are authentic and fully self-expressed. This is wonderfully fulfilling! If commitment is the ultimate expression of our values and who we are, self-expression is a core ingredient of commitment. Have you heard others say they are just “in the zone” or “in their groove?” This usually is a sign of self-expression and awareness.

Vision brings forth our commitment. Does commitment generate the envisioning process, or does vision generate commitment? Either way, commitment and vision are inexplicably tied together. Expand your vision while you deepen your commitment in order to produce powerful results! I would challenge you to read through your firm’s vision and determine if it promotes vision within your team? If it does not, it might be time for a change.

Commitment inspires us to be and do our best. We aim for the sky and shoot for the stars! We refuse to accept less than the best from ourselves and others. Our commitment inspires us to reach for quality and excellence. We continually enlarge and clarify our vision – this contributes to us living our personal best. This means every day, with every client and in every project. Do you live the commitment every day?

Commitment lives in communication. Communication involves verbal and nonverbal interaction. While commitment lives in the declaration and words, evidence of commitment lives in the actions we take and don’t take. Be attentive for evidence of commitment in communication. Our industry has a fairly bad reputation in the area of communication. If this is an area of your personal development that needs some attention, now is the time!

Commitment is surrender. Commitment is the giving of ourselves to what we most believe and want. It is the merging of our ideals and our being. We surrender to our ideals and with commitment, live them. We create what we want when we surrender to our commitment.

Our Miami Accounting Firm stands behind our word, we demonstrate commitment. Commitment exists when our actions meet the expectation of our words – when there’s a congruency between intent, words and action.