CD-ROM update.

• Author: Love, Jerry L.
• Position: Tax resources on CD-ROM

Surprisingly, some CPAs are still doing tax returns by hand, As computers become cheaper and cheaper, everyone should be able to justify the cost of hardware, software and CD-ROM reader; it is possible to completely set up with hardware (including CD-ROM reader) and software for less than $5,000. Of course, the investment in time to learn the software is also required. However, it behooves those practitioners who still do returns by hand to invest in a computer system - as it is now a necessary tool of the profession.

CD-ROM research tools have also become more affordable and in greater use. Small firms, notably, are making large incremental leaps in their success thanks to CD-ROM proucts, which help save time, space, staff and budget - and do research faster and better.

Tax Desk, for example, Research Institute of America's (RIA) research and compliance system on CD-ROM has been specifically designed for tax professionals who serve individuals and closely held businesses. While the system offers every possible feature needed by this type of tax practitioner in his library (tax analysis, source material, Federal and state tax forms and practice tools), it zeroes in on topics and substantive materials needed for day-to-day practice in this specific market.

The basic package includes RIA's expert analysis, enhanced with explanation, recommendations, cautions, observations, illustrations and checklists; the complete Internal Revenue Code; complete final, temporary and proposed Treasury regulations; explanatory client letters (designed to help expand a practice); checklists and tax tables; current and historical IRS rulings, procedures and notices; RIA Federal Tax Handbook (on disc); electronic Federal and state tax forms; Weekly Alert (in print and on disc); elections and compliance statements; and the choice of either IRS publications or, on the Tax Advisors Planning System, additional state reporters or ReadiPrep (the enhanced calculation feature on Federal and state forms in Windows).

Tax Desk in its CD-ROM format translates to one common denominator for a small firm: savings of time and thereby of money. For...