I recently purchased an iPad for personal use, but have been experimenting with ways it can be used for business as well. Below are a few apps that I've found particularly handy.

• LogMeIn ($29.99)--Like its desktop counterpart, the LogMeIn iPad app allows me to bring up my work computer from wherever I have an Internet connection. I wouldn't call it a laptop replacement, but for those situations where you'd like to travel light but still have casual access, it does the job aplomb. And when push comes to shove, I can pair the iPad with a Bluetooth keyboard to do some heavier computing (e.g., I use an Apple keyboard with full sized keys, but which is very small and packs easily).

• Note Taker HD ($4.99)--After looking into a number of note-taking apps, I found this one by far was the best designed. Part of the reason is that it contains a writing area at the bottom of the screen, reminiscent of the old Palm Pilots. This makes it much easier to
  effectively take notes, because: a) it prevents the iPad from accidentally thinking your palm resting on the screen is input, and b) it lets you write in a larger area, and then have your handwriting reduced to normal size on the page. You can use your finger to write, but I found a stylus made by Boxwave much easier (and better than the one from Pogo).

• PowerOne Financial Calculator ($6.99)--There are some free calculator apps available out there, but this one is more geared to the business user. It has a tape-like history of the numbers input, it can perform time value of money calculations, and it comes with 30+ template forms for common analyses (such as mortgage calculations, retirement savings projections, break-even points, etc.). You can even design your own template forms. I believe this app is also available on other platforms, such as the Blackberry and Palm, but the extra screen space of the iPad makes it particularly helpful.

For now, the iPad is part novelty, but in time, I think we'll find that it, or something like it, will be ubiquitous to the conduct of business.

First paper, then desktop software, then networks, now the Internet cloud. The evolution of information has been quite a thing to track these past decades. And accounting for a business' transactions has been following right along.

Nowadays, many small businesses owners rely on Quickbooks to keep their financial records in order. But other options are starting to appear which use a different delivery model: the web. Realizing the shifting landscape, even the makers of Quickbooks have released an online version. But that hasn't stopped new competitors from popping up online, vying for some of its market share. A few of those websites which might be worth your look are:

• Outrght.com (currently free)--Designed for the sole proprietor/single-member LLC/Schedule C filer, "Outright is a very simple-to-use web service that helps you track income and expenses, pay estimated taxes on time, and see how your business is doing. It's perfect for self employed people."
• LessAccounting.com ($12-24/mo)--With a focus on invoicing and expense tracking, LessAccounting aims to take the hassle out of bookkeeping so you can focus on running your business.
• Xero.com ($19-$39/mo)--Xero goes a little further, including fixed asset management and expense reimbursements.
• VersAccounts.com ($17-$35/mo)--Even more robust, including inventory control and logistics management, "VersAccounts is a complete web-based accounting software solution for new businesses and for those that have outgrown entry-level accounting software."

Other specialty websites I've come across are Bill.com (bill management and payment), Freshbooks.com (time tracking and invoicing), and Xpenser or Expensify (expense reports and management).

My main take on the current landscape: If your transactions are simple enough, online solutions likely will work just fine for you, and the anywhere-anytime access will be a great boon. If your transactions have some complexity, or you want to internalize payroll, or your needs are more sophisticated, you may find the online solutions aren't yet ready to handle it. In time they will, but not at this juncture. If you're still looking for anywhere-anytime access, a good alternative might be a hosted solution or coupling with remote access.

For help evaluating what solution might be the best fit for you, or how to get up and running, just let us know, and we'd be happy to help.

I just returned to the office from a two-hour seminar held by Jackson National (a provider of annuity products) where they announced their new partnership with American Funds (a mutual fund family). Two tidbits I picked up at the event were:

• 89% of the world's population is in "emerging markets". And by some measures, half of the world's population is considered middle class. The implication is that there is a lot of potential for investments in foreign markets. (See image above showing the planet's lighting at night.)
• They also reiterated research performed by Dalbar, Inc (a well-known research company), which showed that while the S&P 500 experienced returns of 8.2% over the last 20 years, the average investor experienced 3.2% over the time period. The implication here is that the average investor goes into the market at the top, and out at the bottom, significantly affecting their overall performance.

Some thoughts to keep in mind as you consider your investing habits. And if you find you'd like to sit down with someone to look at your savings more closely, simply give us a call.

Google Apps is a glimpse of where we're headed, and is providing functionality to many businesses even today.

First, the glimpse of where we're headed: application hosting. We've all grown accustomed to the model of desktop PC's being networked together. This means hardware has to be maintained and upgraded, operating systems have to be installed and updated, applications must be deployed and kept up-to-date, and the network secured, defended, and backed up. For the small business owner, this typically falls either to them, to a designated staff member, to an IT guy who comes in as-needed, or some combination of the three. Now I enjoy learning (and writing) about technology stuff. But I don't derive as much joy from reading network installation instructions for tax software, or keeping tabs on applications updates, or testing RAID setups. If the technology infrastructure would "just work" on its own, it would be great.

Though the full realization of this model is still a little down the road for most of us, it is starting to surface in many places. Many new startups, and existing organizations, are adopting the "cloud hosted" concept of doing things. And many of them are turning to the suite of services called Google Apps. For $50 per user per year, you get access-anywhere e-mail with 25 GB of storage, shared calendaring, shared document and spreadsheet authoring, an intranet, and a couple other bells and whistles. The document and spreadsheet authoring are not as sophisticated as full Microsoft Office, but most folks generally use only 5% of Office's feature set anyways. Google Calendar is often found much easier than Outlook, and with the proper permissions, you or your office can access it from anywhere (including cell phones). And even if you don't roll out all the applications, simply having your e-mail hosted and spam filtered by Google might very well be worth your $50 per user per year. Google is not the only one participating in this space. There's 37signals, Hyperoffice, and others.

So I would encourage you to consider whether a hosted system might be a good fit for you, and if not, to keep your eye on developments for a future time when it might be.

Both David and Adrian were recently recognized by the Maryland Society of Accountants with the "Fellow" designation. This designation means that they each took in excess of 60 hours of continuing education for last year, demonstrating their commitment to remaining current on the latest financial developments.

The recognition actually only counts education taken through the MSA. When continuing education from other providers is factored in, both David and Adrian have more than 100 hours, each. This level far exceeds the license requirement standard of 40 hours, and is something they undertake for the benefit their clients.

Choosing a tax preparer is not an insignificant decision, since they are someone with whom you need to discuss your financial activity.

The IRS has produced a short YouTube video with pointers on choosing a preparer, and we've also compiled a few thoughts on why you may want to choose our firm.

To find out how we can help you, simply contact our offices.

Taking your notes electronically, can avoid the necessity of transcribing them later. I usually have a pad and pen out at meetings and the like, so I can scratch down key facts, conclusions reached, and/or future action points. Once I figured out that it would be handy to reference these scratches as a way of bringing myself back up to speed on an issue, I began scanning my notes onto my computer.

Well, it turns out I can save myself even the time of scanning, by using a "digital pen". Digital pens have a small camera near the pen's tip, and are used with special paper (which can be purchased, or printed from compatible printers). As you take notes, the pen stores your scratches in its memory, which can then be transferred to your computer via a docking station. Viola--no need to scan after the fact, no need to type up memos, and no need to file away paper.

And depending on what model you use, the audio of your meeting can be stored too, and even synchronized (allowing you to jump to the parts of your conversation where your notes went bad). And there's character recognition possibilities (allowing you to perform a search on your notes, rather than flip pages). And an ability to automate form capture (allowing standard forms to be filled out by hand, and then imported into the computer).

Two main digital pens out there are the Livescribe Pulse and Adapx Capturx (both around $250). The Livescribe comes with audio recording capabilities, while Capturx has tighter integration with OneNote (Microsoft's free-form note taking software). From what I've heard, the Livescribe community is stronger, but the Capturx has a share of dedicated users in certain industries.

So if you're a note-taker looking to streamline into a "less-paper" environment, digital pens may just be the way to go!

David was recently interviewed by a reporter about items small business owners should be aware of regarding their taxes. His thoughts were combined with a couple other professionals, and featured in an article published by Corridor Inc., the Baltimore-Washington corridor business and political news magazine.

To read the article, (and to see a larger photo of David), just visit the Tax Considerations for 2009 article.

2010 has arrived, and with it comes the need to file taxes for 2009. We've put together a packet to help tackle this task, which you can download in PDF (Adobe Acrobat) using the following links:

• Tax Letter: Includes our opening letter, tax tips newsletter, and a checklist of tax documents you may need. Additional tips can be found in this brochure.

• Basic organizer: Four pages worksheet covering most tax-related items.

• Small business organizer: Two-page add-on for small business owners.

• Rental organizer: One-page add-on if you own rental property (use one per property).

If you have any questions or would like to setup an appointment, simply contact us.

We are happy to announce that our firm recently received the highest rating on a three-tiered rating scale for our peer review.

A "peer review" is an independent evaluation of our accounting and auditing quality control systems, to see if they provide reasonable assurance of meeting professional standards.

Receiving the highest rating is a great honor for us, and we continue to strive to provide quality services to all of our clients.