Pennsylvania CPA Journal

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  • Legislative Update - Week Ending April 12, 2024

    Apr 12, 2024, 09:50 AM by PICPA Government Relations
    In this issue: PICPA voices concern with BOI rollout, Requests Enforcement Delay; Pennsylvania DOR announces deputy secretaries, directors; Artificial intelligence disclosure passes Pa. House; and more.
    Full story
  • Legislative Update - Week Ending April 5, 2024

    Apr 5, 2024, 10:13 AM by PICPA Government Relations
    In this issue: Pa. lawmakers return to session April 8; Philadelphia City Council considers tax preparer disclosures; April 23 is primary election day in Pennsylvania; and more.
    Full story
  • Legislative Update - Week Ending March 29, 2024

    Mar 29, 2024, 10:43 AM by PICPA Government Relations
    In this issue: PICPA-backed bills moving despite Pa. Assembly slowdown; New Pennsylvania tax bulletins; Pa. UC benefits clarity for domestic violence victims; and more.
    Full story
  • Legislative Update - Week Ending March 22, 2024

    Mar 22, 2024, 08:59 AM by PICPA Government Relations
    In this issue: PICPA-backed PTE tax, appeals reform, clear Pa. Senate committee; PICPA CEO urges Pennsylvania advisory opinion legislation; CPA-PAC Board releases 2023 annual report; and more.
    Full story
  • Legislative Update - Week Ending March 15, 2024

    Mar 15, 2024, 10:32 AM by PICPA Government Relations
    In this issue: Busy week awaits lawmakers’ return to Harrisburg; Pa. tax measures highlight committee agendas; Shapiro unveils Pennsylvania energy policy; and more.
    Full story
  • PICPA’s 2024 Legislative Priorities in Harrisburg

    Mar 12, 2024, 15:56 PM by Peter N. Calcara, PICPA Vice President – Government Relations
    This year, two points will dominate lawmakers' agendas in Harrisburg: the budget for the upcoming fiscal year and the fall elections. That doesn’t mean the PICPA will stop its advocacy efforts on matters important to Pennsylvania’s CPAs.
    Full story
  • Winning Continuity Plans for Owners, Clients, and Successors

    Mar 12, 2024, 00:00 AM by Ira S. Rosenbloom, CPA (inactive)
    Successful practice continuity is dependent on making three parties happy: clients, firm owners, and the next set of owners, successors, or protectors. Here are a few pathways to establish a framework for a succession that is a win for all three parties.
    Full story
  • Tips for Being the Best Mentee

    Mar 12, 2024, 00:00 AM by Ashley Stampone, CPA, PhD
    The mentor-mentee dynamic cannot be one-sided. The mentee must work at the connection, too, to get the most out of the mentorship. This column offers tips to emerging CPAs that they can take as mentees to get the most out of their mentor-mentee relationships.
    Full story
  • Accounting for Leasehold Improvements for Discretely Presented Component Units

    Mar 12, 2024, 00:00 AM by Khaled Abdel Ghany, CPA, PhD
    The Financial Accounting Standards Board Accounting Standards Update 2023-01, Leases, Common Control Arrangements, requires leasehold improvements related to a lease agreement between entities under common control to be amortized over the useful life of the leasehold improvement. While the relationship between a primary government and its component units is similar to that among companies within common control, could the new accounting rule for amortizing leasehold improvements be applicable to leases between a primary government and its component units?
    Full story
  • Don’t Overlook the Value of State Tax Credits and Incentives

    Mar 12, 2024, 00:00 AM by Matthew Melinson, CPA, Mike Eickhoff, CCIP, Drew VandenBrul, CPA, Narj Bhogal, CPA, Benjamin Tamber, CPA
    Incentives are a powerful tool to urge companies to invest in a particular state that can result in a win-win for all parties involved. This issue's State & Local Tax column provides an overview of Pennsylvania’s incentives and credits landscape.
    Full story
  • PICPA and Outlier Bring College Accounting to High Schools

    Mar 12, 2024, 00:00 AM by Matt Greene and Kristen Wilbert
    The PICPA’s Pennsylvania CPA Foundation connected with last year to support high school students in their journey to becoming a CPA. Two teachers taking part in the pilot program discuss how their students are doing and how this effort is helping young people get interested in accounting.
    Full story
  • IRC Section 1202: Why Qualified Small-Business Stock Should Be on Your Radar

    Mar 12, 2024, 00:00 AM by Danielle Friedman and Herbert R. Fineburg
    The Small Business Stock Gains Exclusion is an often-missed and material tax-savings benefit available to noncorporate shareholders of C corporations. Given the relatively recent adoption of these qualified small-business stock rules, many advisers and their clients are still unfamiliar with this section of the Internal Revenue Code.
    Full story
  • Moving to the Beat of ESG Can Be Good for Business

    Mar 12, 2024, 00:00 AM by J. Stephen McNally, CPA, CMA
    The call for the corporate world to enlist environmental, social, and governance (ESG) metrics and reporting is growing. In this feature, J. Stephen McNally, CPA, CMA, proposes that – whether your organization is subject to mandatory reporting requirements or not – sustainability decisions are good business decisions.
    Full story
  • Pa. Office Set Up to Help with IRA Renewable Energy Tax Credits

    Mar 12, 2024, 00:00 AM by Louie Krak
    Pennsylvania Gov. Josh Shapiro created the Office of Critical Investments to maximize the federal funding made available in recent years, particularly through the 2022 Inflation Reduction Act. Louie Krak, infrastructure coordinator with the Office of Critical Investments, discusses the major tax credit incentives that are available to a wide swath of Pennsylvania entities interested in investing in diverse sources of renewable energy.
    Full story
  • Bolster Your Emotional Intelligence for Personal Success and a Positive Workplace

    Mar 12, 2024, 00:00 AM by Ashley Stampone, CPA, PhD, and Patrick O’Brien, CPA, PhD, CFE
    This feature discusses what emotional intelligence is, several different aspects of the concept, and how certain segments become more important at different times as you progress through your accounting career.
    Full story
  • Why and When to Consider Outsourcing Finance Functions

    Mar 12, 2024, 00:00 AM by Victoria N. Pritchard, CPA
    CFOs and vice presidents of finance are entrusted not only with maintaining financial stability but also with contributing strategically to organizational growth. To achieve this, says Victoria N. Pritchard, CPA, the outsourcing of certain accounting functions to third parties has emerged as a strategy worth exploring.
    Full story
  • What to Expect on the Federal Tax Front This Election Year

    Mar 12, 2024, 00:00 AM by Robert E. Duquette, CPA
    Although the Tax Cuts and Jobs Act of 2017 has most of its individual provisions expiring after 2025, there are some provisions expiring even earlier. This column explains which sections will be affected unless Congress acts to restore them.
    Full story
  • Complexities Abound for Pass-Through Entities and SALT Deduction Work-Arounds

    Mar 12, 2024, 00:00 AM by Gregory M. Rineberg, CPA, and James J. Newhard, CPA
    The Tax Cuts and Jobs Act of 2017 (TCJA) reformed many aspects of the Internal Revenue Code of 1986, but the $10,000 state and local tax deduction limitation (SALT cap) has remained one of its more controversial aspects. The SALT cap prevents many individuals from being able to fully deduct their state and local income and property taxes on their federal individual income tax returns. This is further exacerbated for individuals filing in multiple states through their ownership interests in partnerships, S corporations, and certain limited liability companies.
    Full story
  • Legislative Update - Week Ending March 1, 2024

    Mar 1, 2024, 09:49 AM by PICPA Government Relations
    In this issue: Education and elections headline Pa. budget hearings; Shapiro launches Pennsylvania Election Threats Task Force; Pa. Revenue Department issues new gaming bulletin; and more.
    Full story
  • Legislative Update - Week Ending Feb. 23, 2024

    Feb 23, 2024, 09:56 AM by PICPA Government Relations
    In this issue: First week of Pennsylvania budget hearings; A look at Pa.'s new annual report requirement; Hearing scheduled on Pennsylvania wealth tax; and more.
    Full story

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