CPA Practice Advisor

JUL 2016

Today's Technology for Tomorrow's Firm.

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July 2016 • www.CPAPracticeAdvisor.com 19 Over the centuries, accountants have been fashionistas, inventors, and spies. ey fight crime, write books, and uphold the law. e more one learns about accountants, the more surprises one uncovers. Secret lives, indeed. W hen Leonardo da Vinci painted e Last Supper, mathematician and accountant Luca Paciola was by his side — as a friend and advisor on perspective. Yet the 15 th centur y Venetian, known as the Father of Accounting , is most revered for creating the double entr y system of book keeping (the significance of which perhaps only those in the industry can fully appreciate). It was accountant Matthaus Shwarz who created the first known book of fashion. His unique work of art depicts more than 40 years of his life and clothing, portraying what he wore during pivotal events such as his wedding and the death of his father, as well as daily life at work and at play. e man took fashion as seriously as he did his career — as head accountant for one of the most prestigious banking families in 16 th century Germany. Today, accou nta nts i nclude among their ran k s rock stars, actors, politicians, and reporters. Both Robert Plant and Mick Jagger briefly studied accounting before tak ing the stage; Gibby Hay nes w a s na med Accounting Student of the Year and worked as an auditor before fronting the Buhole Surfers; and that smooth saxophonist Kenny G? He graduated magna cum laude in accounting. But the study of accountancy is not just a stepping stone to rock-and- roll fame — accountants are also entrepreneurs and inventors. It was an accountant (Phil K night) who founded Nike, and an accountant who founded e Home Depot. A nd that bubble gum you loved to chew in your youth? You can thank an accountant for it. Had it not been for "the complex it y and lunac y" of the tax law he studied, aut hor Joh n Gr isha m might today be w riting suspensef ul tales of ta x accou nta nts, not t r ia l law yers. Were it not for the small army of accountants who tally the ballots, we'd never have an Oscar winner. A nd think of the crimes that would go unsolved w ithout the special agent accountants who constitute approximately 15% of the FBI force. No dreary bean counters, these. Even before there was a numeric system, accountants were hard at work keeping track of our stuff. ey were there at the beginning of commerce, as ev idenced by Eg yptian bone shard labels (5,300 B.C.) tracking inventory, and they've been at it ever since. K nowing our inputs, what we have, and our outputs seems to be as essential to human nature as breathing and eating. Without that k nowledge, we'd be lost. Without accountants, that knowledge would be lost — or even worse, disorganized and wrong. So seek out an accountant today. Shake his or her hand. A nd as you do, imagine the secret life that accountant might lead. Sales Tax Nexus Checklist Do I operate my business in this state (even from home)? Do I have an employee in this state? Do I have an affiliate in state? Do I have a sales rep, independent contractor or other agent in state? Do I store my products in state? Are my products distributed from a distribution center in this state? Did I attend a craft fair, exhibition or trade show in this state? Do I work with a drop shipper located in this state? If you answered yes to any of these questions, you may have sales tax nexus in that state. The Secret Lives of Accountants By Gail Cole A ccountants are oen described as capable, trustworthy, and good with figures, and they are. But they are also much, much, more.

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