CPA Now Blog

In this podcast related to his column in the fall 2021 Pennsylvania CPA Journal, Barry Groebel, senior tax consultant for Herbein + Company in Reading, Pa., details his experience working on a private letter ruling request with the IRS during the height of the COVID-19 crisis. He provides context on what a private letter ruling request is, discusses how common it is for CPAs to handle such a task, and goes step-by-step into the process.

Dave Wagaman, emeritus professor in accounting at Kutztown University, sits down with Jerry Maginnis, retired KPMG Philadelphia office managing partner and current executive in residence for Rowan University in Glassboro, N.J., to talk about Maginnis’s new book, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities. The book covers critical career components, such as work-life balance; diversity, equity, and inclusion initiatives; and giving back to the community.

While the U.S. Supreme Court did not choose to hear arguments in the case of New Hampshire v. Massachusetts, it does not mean that the disagreement between the two states will have no impact on the tax landscape. Jennifer Karpchuk, shareholder with the law firm Chamberlain Hrdlicka, joins us to discuss the background of New Hampshire v. Massachusetts, its relevance to the tax structures of Pennsylvania and Philadelphia, and the possible effects on Pennsylvania’s “convenience of the employer” interpretation.

The climate for mergers and acquisitions in the accounting industry was already a bit balmy before COVID-19, but the onset of the pandemic turned the temperatures up even higher. In this podcast, John Warrillow, author of The Art of Selling Your Business: Winning Strategies and Secret Hacks for Exiting on Top and president of The Value Builder System, delves into current merger and acquisition trends, the best ways for driving up the price, and determining the right time to notify your employees of a possible sale.

Paul McVoy, principal with KBKG, discusses research and development tax credits in Pennsylvania and at the federal level. He delves into which expenses qualify, what types of activities are excluded, and the process for claiming the credits.

As a follow-up to a presentation at our most recent PICPA School District Conference, Jacqueline Stefkovich, EdD, JD, professor emeritus at Pennsylvania State University, joins us to discuss codes of ethics for CPA personnel working with schools and approaches for navigating ethical dilemmas.

In this podcast, Amy Lewis, a partner with Maher Duessel in Pittsburgh, hopes to dispel some of the fears surrounding the path to partnership held by younger accounting professionals. She addresses such worries as whether it’s too stressful, how much personal time a high-level CPA might have to surrender, and, yes, how smart one has to be.

For mid-career CPAs experiencing feelings of burnout, it can be natural for a “grass is greener on the other side” perspective to take hold. However, there are options for professionals looking to temper burnout without heading for the exit. To discuss those options, we met with Bobbi Kelly, director-in-charge, human resources advisory, for Kreischer Miller in Horsham.

James Lange, CPA, is a principal and financial adviser with Lange Financial Group LLC in Pittsburgh and author of The IRA and Retirement Plan Owner’s Guide to Beating the New Death Tax. He joins us to discuss the factors leading to a higher tax environment and what CPAs can do to get their clients ready.

Roger Philipp, CPA, CGMA, creative chief officer of UWorld Roger CPA Review in San Francisco, joins us to talk all things CPA Exam, including when would-be CPAs know they are ready to take the exam, tips for excelling on the day of the big test, and changes to the exam in conjunction with the CPA Evolution Project.

According to our guest Geraldine Carter of She Thinks Big Coaching, life is too short for holding on to bad clients. In this podcast, she discusses the signs that a client is more trouble than they are worth, the detriments to CPA firms if they hold on to nonbeneficial clients, and the psychological aspects that stand in the way when a CPA firm is considering dropping an engagement.

Hitendra Patil, head of customer success at AccountantsWorld and a four-time member of Accounting Today’s Top 100 Most Influential People in Accounting, joins us to discuss his new book, The Definitive Success Guide to Client Accounting Services. of our most popular podcast guests, Patil covers in this episode the proper leadership mindset, the services of which clients are most in need, the guidelines for pricing client accounting services, and more.

Andrew Hunzicker, founder of Dope CFO in Bend, Ore., joins us to discuss the opportunities for CPAs with regard to the expanding cannabis industry. Among the aspects he covers are the current status of marijuana legalization efforts nationwide and the misconceptions among the general public when it comes to cannabis entrepreneurs. Listen to the podcast and get more information at www.dopecfo.com and on Instagram @dopecfo1.

Tax credits and incentives have long been a tool for bolstering revenue for state economies. In this episode, we are joined by Jason Skrinak, founder of Pivot Strategic Consulting in Harrisburg, Pa., and a member of the PICPA Fiscal Responsibility Task Force, to discuss how credits and incentives are used in Pennsylvania, the scrutiny they will be under in a post-COVID business environment, and the steps being taken by states to ensure these stimuli are working as intended.

In a preview of his presentation at the July 12-13 PICPA Not-for-Profit & Government Accounting Conference, Rick Cole, partner with BKD CPAs & Advisors, discusses the new Accounting Standards Update related to gifts-in-kind nonfinancial assets. Among other issues, he touches on how contributed nonfinancial assets are presented on financial statements and the timing of when the new ASU will go into effect.

Jina Etienne, speaker, trainer, and diversity and inclusion consultant with Etienne Consulting, joins us to discuss the connection between diversity, equity, and inclusion (DEI) initiatives and CPA firm advisory services. Specifically, she explains how advisory services thinking can improve DEI results in the areas of hiring, process improvement, and marketing.

In this episode, we go inside the world of CPA data analytics with Jack Castonguay, assistant professor and executive director of assurance and learning and accreditation at Hofstra University and vice president of strategic content development at KnowFully Learning Group. Castonguay shares current uses of data analytics in accounting, key skills CPA data analysts should possess, and ways to showcase these skills within your firm.

It is never easy to talk to clients about raising your rates, even for those CPAs who spend every day going above and beyond to provide the best in customer service. However, it is a conversation that CPAs should approach without fear, says Loren Fogelman, price and profit coach for Business Success Solution. She discusses the reasons why CPAs fear raising their rates, how they can become more confident in having these discussions, and specific steps firms should take when upping fees.

Among the many aspects of accounting that have been thrown upside down by the coronavirus is the employee benefit plan (EBP) audit, now largely being conducted remotely. Nancy Cox, partner at The Bonadio Group, joins us to discuss the new normal for EBP audits, including a heightened focus on data security, the impact of pandemic-related legislation, updated audit testing procedures, and more.

Many factors contribute to the constant change in the accounting profession: technological innovation, evolving regulations and standards, and, yes, our current global pandemic. It is especially important for CPA firms to be prepared for change and be ready to manage it when the need for evolution comes. To discuss how best to handle change, we reached out to “The Radical CPA” Jody Padar, vice president of strategy at Botkeeper.