2009 Long Island Tax Practitioner Symposium

Co-Sponsored by:
The Educational Foundation
of the Nassau/Suffolk Chapter of the
National Conference of CPA Practitioners (Nccpap).

SYMPOSIUM BENEFITS
• 80+ Key Tax-Related Sessions
• Updates on State and Federal Tax Laws
• Meet with Key IRS Officials
• IRS Problems Resolution Meetings
• Connect with Key Suppliers
• Resolution of QuickBooks Problems
• Network with Fellow Practicing Tax Professionals
• MP3 CDs of Available Sessions
• Exhibit Area with 40+ Key Vendors

Come join CMIT Solutions of South Nassau November 18th, 19th and 20th at the Crest Hollow Country Club in Woodbury, NY!

What's a Netbook ... And Why Would You Need One?

In the hardware world, there's a pretty lively discussion going on about the difference between laptops, notebooks, and netbooks.

Opinion seems to be converging around the idea that laptops and notebooks are virtually the same: small, portable, but powerful computers that can function as a more travel-worthy substitute for a stationary desktop model.

Netbooks, on the other hand, are a relatively new innovation just a couple of years old, which might make them ancient in some technology circles, but it means that some folks are still figuring out what the term means.

Way back in the beginning of netbooks, these ultra-small, ultra-light computers offered pared-down capabilities that could satisfy most of the needs of a user on the go. You could access a Web browser and email, and if you used cloud-based applications like Google Docs you could even do some word processing and basic spreadsheet operations. But your average netbook, lacking an optical drive and equipped with a slower processer, wasn't going to be terribly fast or powerful or great at running really resource-intensive applications. And the tiny keyboard made prolonged use a bit of a pain.

But then a funny thing happened: the year 2008. And as the economy took a dive, more and more users started looking at netbooks and deciding they made a very good, affordable alternative to regular laptops. By Q1 of 2009, netbook sales were seven times larger than they were in the first quarter of 2008. (http://computerworld.co.nz/news.nsf/tech/0EF7F828A4FAC9A9CC2575AB007165B4)

Not surprisingly, manufacturers noticed a huge new market that was growing like gangbusters in the middle of a downturn. New entrants joined the game, and in order to differentiate themselves, started adding features and enhancements to the stripped-down netbook. Screen sizes and keyboards are now getting larger. Graphics are getting better. Some folks argue that, at least among certain brands, there's virtually no difference at all between a netbook and an ultralight laptop. (http://news.cnet.com/8301-17938_105-10312430-1.html)

Still, as a general rule of thumb, if you're looking for a very cheap and light machine that you wouldn't be heartbroken to lose or see destroyed in other words, if you're a student who needs a note-taking device, or a frequent traveler who has robust offsite storage and just needs an on-the-road Internet access device a netbook could be the perfect thing.

Your "Instant" Messages May Be Forever

Despite the name, instant messages can stick around for a long, long time. Your conversations may live on, long after you've shut down your IM client depending on what service you're using and what controls you or your employer may have in place.

For example, Google saves every chat session conducted in Gmail automatically and makes those chats fully searchable. Trillian, a standalone client that supports AIM, Yahoo, and Microsoft Live, also automatically logs all conversations. On the other hand, the basic messaging clients for AIM, Yahoo and Microsoft do not automatically store conversations but can be configured to do so.

More IM services are coming out with enhanced versions for corporate use. AIM Pro, a free version for individuals and businesses, offers better security, voice and video conferencing, and integration with Microsoft Outlook. And Microsoft's Live Communications server allows corporate IT departments to log and search employee conversations, including those on IM services like Yahoo and AOL.

So what's the take-home?
When you're at work, be aware that your employer's policy toward email may extend to instant messages and don't write anything you wouldn't want your boss to read. And look on the bright side: just as email provides you with a digital paper trail for work-based communications, saved instant messages can serve much the same function. As instant messenger enhancements continue to develop, this tool will only become more valuable.

Master Microsoft Keyboard Shortcuts

A lot of folks can go for years without ever using or figuring out how to use that funny-looking key in the lower left-hand corner of their Microsoft keyboard. But the Windows logo key can help you switch between applications, clear open windows off your desktop, and a whole lot more. The chart below shows you how.

Key Combination
Result
Windows logo key
Open or close the Start menu
Windows logo key +PAUSE
Display the System Properties dialog box
Windows logo key +D
Display the desktop
Windows logo key +M
Minimize all windows
Windows logo key +SHIFT+M
Restore minimized windows to the desktop
Windows logo key +E
Open Windows Explorer
Windows logo key +F
Search for a file or folder
CTRL+Windows logo key +F
Search for computers (if you are on a network)
Windows logo key +L
Lock your computer or switch users
Windows logo key +R
Open the Run dialog box
Windows logo key +T
Cycle through programs on the taskbar
Windows logo key +TAB
Cycle through programs on the taskbar by using Windows Flip 3-D
CTRL+Windows logo key +TAB
Use the arrow keys to cycle through programs on the taskbar by using Windows Flip 3-D
Windows logo key +SPACEBAR
Bring all gadgets to the front and select Windows Sidebar
Windows logo key +G
Cycle through Sidebar gadgets
Windows logo key +U
Open Ease of Access Center
Windows logo key +X
Open Windows Mobility Center
Windows logo key with any number key
Open the Quick Launch shortcut that is in the position that corresponds to the number. For example, Windows logo key +1 to launch the first shortcut in the Quick Launch menu.

Use Twitter To Raise Your Company's Online Visibility

A lot of companies are jumping on the Twitter bandwagon, but before you make your move, make sure you know what you're getting into.

Twitter is what's called a microblogging application. It provides a convenient Web-based platform that lets you send and read updates, called "tweets." Tweets run no more than 140 characters in length, and can be sent to subscribers, called "followers." You can update by going to your Twitter page, sending a message by phone, or via a Web plug-in.

Many companies use Twitter in conjunction with Facebook and other social media applications. It provides a means of periodically reaching out to people interested in your company with brief, minor updates or even big news.

In the best situations, Twitter acts as a clearinghouse of first-hand news, informative Web links, and insights into the activities of prominent leaders in everything from retail to Congress.

For example, Whole Foods keeps a lively and useful Twitter account here. (http://twitter.com/wholefoods) The Zappos CEO keeps his own Twitter account; so does Senator John McCain. (http://twitter.com/zappos, http://twitter.com/senjohnmccain )

But, as many Twitter users discover firsthand, this hobby can quickly turn into an all-consuming obsession. If you're not careful, you can end up Twittering about, say, the chorizo breakfast burrito you'd like to have, http://twitter.com/diiskrej/status/1577310161

or the symbolism behind cleaning your cat's litterbox.

http://twitter.com/reidstott/status/1578187119

As a small business owner, you want to project a professional, knowledgeable image to your universe of current and potential customers. In order to do that, here are some tips:

1. If you keep a corporate blog, you can have it automatically send an update to Twitter every time you post something new. That will encourage your Twitter followers to check out your blog, where they'll find useful information (you are posting useful information on your blog, right?).
2. Link to books, blogs, or items in the news that are relevant to your business.
3. Write about upcoming events, if you're hosting a lunchtime seminar or giving a presentation to your local Rotary Club, let people know.
4. If there's information you want to share with a customer, think about whether it might interest other people, too. Let's say you're a veterinarian treating a dog that just came in with heatstroke, you might tweet a few helpful tips for keeping your pets cool in the heat.
5. Sign up to follow Twitter users who are authorities on topics that interest you.
6. Don't overload readers with too many updates in a day.

Twitter can be a fun, easy way to reach out to customers and show people another side of your business. Just make sure it's the right side, and leave more personal musings to your personal Twitter account.

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Remote Office Connections: Convenient, but not without risks.

More people than ever are working from home, on the road, or accessing their office PC from client sites and hotels. According to WorldatWork, occasional telework has risen dramatically in just the past several years. My experience with the financial services industry shows that more and more accountants are using remote access from client sites to transfer files, or access information back at the office. Some interesting and somewhat startling facts:

• The number of employee telecommuters in the United States increased 39%, from 12.4 million to 17.2 million, between 2006 and 2008.
• The sum of all teleworkers — employees, contractors and business owners — increased 43% from 2003 to 2008, reaching 33.7 million last year.
• Fewer people are teleworking full time; however, more people are working remotely at least once a month.
• The most common locations for remote work are home (87%), a customer’s place of business (41%) and car (37%). Restaurants and libraries are becoming less common locations for telecommuting.

In a previous submission to this newsletter I wrote about some parameters for setting up a remote office. In this article I want to focus on a specific type of threat that can put your business at risk during a remote access session. The threat can do damage even if you have followed all the proper guidelines such as setting up a VPN, creating a secure sharepoint portal, or an encrypted connection like Logmein. In all of these cases you still need to be aware of the security threat posed by keyloggers.

A keylogger is a piece of software that records every keystroke made on a computer. A hacker who installs a keylogger virus on your computer will be able to see everything you type on your machine -- which comes in handy when they want to steal passwords, credit card numbers, bank account numbers, or sensitive client data. (This is truly a business and compliance nightmare!!)

For years, cyber criminals have been installing keylogger viruses on easy-to-breach, publicly accessed machines, such as those used in libraries. But your worry as a remote user probably won't be whatever viruses are crawling all over a publicly used machine -- as statistics show, you're almost definitely using your own computer or a company-provided one for business work. So what you have to beware of is a whole new round of viruses that can be downloaded to your own PC.

Remember that Conficker worm that was supposed to strike on April Fool's Day, and ended up exploding about a week later? One of its most devastating payloads was a keylogger virus.

So to protect yourself from keyloggers stealing your passwords, don't ever use public computers for any procedure that requires a login -- that means everything from checking email to checking a bank balance. And before using your own computer, or when using a client computer to access your office, make sure the antivirus and antispyware definitions are up to date -- and that full system scans are run on a regular basis. (Many people halt system scans or just stop running them altogether because they take up so much processing power. The solution to this issue is to run them at night because they are essential.) Remember that the mere presence of Anti Virus and Anti Spyware software does not guarantee that a PC is clean, the software and the PC require regular and automated updates and maintenance.

Two Flavors of Network – How Do They Compare?

Different sizes and types of businesses need different types of networks. Do you know what kind is right for yours?

For small to mid-sized businesses, the big distinction is between peer-to-peer and client-server networks. In a peer-to-peer network, all machines are created equal; they each provide their own “resources” – meaning applications, computing power, and so on. If you take one machine out of the peer-to-peer network, the remaining machines can carry on as if nothing happened. A typical configuration might be two or three desktop computers, each connected to the Internet and to a common printer and fax machine. If two users need to share or exchange files, they’ll usually email them to each other or post them to a common Web portal.

In client-server network, the server acts as the primary provider of resources to the other machines. For example, a file server provides data files to the client machine whenever the client requests it. In order to access email, the client machine must “talk” to the email server, and so on. Client-server networks tend to offer a more secure environment than peer-to-peer networks because the server can better control access to resources. They also tend to be more conducive to collaboration, because clients can share resources from a single location rather than having to swap individual (and often duplicative) copies of data on a one-to-one basis. However, if a server fails, every client will lose access to the resources it provides; therefore, you’ll need a backup server or a failover strategy.

In short, a very small startup may need nothing more than a peer-to-peer network. But in order to scale well and make sure the company can grow in an orderly, organized fashion, you’re probably going to need a client-server network eventually.