• ASU 2016-15, 2016-18, and the Statement of Cash Flows

    Feb 28, 2020
    Two Accounting Standards Updates (ASUs) from the Financial Accounting Standards Board (FASB) in 2016 may require changes to Dec. 31, 2019, financial statements: ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments, and ASU 2016-18, Restricted Cash.
  • The Next Management Breakthrough: EPM, Non-GAAP Measures, and KPIs in a Digital World

    Feb 28, 2020
    Tremendous confusion persists about how to successfully implement non-GAAP measures and key performance indicators within an organization for assessing business performance. In this article, we aim to bring more clarity on this topic to CPAs involved in enterprise performance measurement initiatives.
  • Leading Your Finance Team Into the Future

    Feb 28, 2020
    Finance is on the precipice of drastic transformation. PwC describes the finance function of the future as being smaller than today’s, with resource allocation flipped on its head: transaction processing, reporting, compliance, and other rules-based activities will become increasingly automated, shifting the focus to analysis, decision support, and strategic insight. The major driver of this trend is rapid and rampant technology growth.
  • Week Ending Feb. 21, 2020

    Feb 21, 2020
    In this issue: Delaware Loophole Legislation to Be Introduced; Pennsylvania Recreational Marijuana Legalization Bill Unveiled; Changes to Pa. Local Taxpayer Relief Act Proposed; and more.
  • Week Ending Feb. 14, 2020

    Feb 14, 2020
    In this issue: Pennsylvania Budget Season Hearings Get Underway; IFO Releases Pa. School District Property Tax Forecast; Pennsylvania Opioid Oversight Measure Now Law; and more.
  • Week Ending Feb. 7, 2020

    Feb 07, 2020
    In this issue: Wolf Proposes $36 Billion Pennsylvania Spending Plan; Measure to Allow Pa. Licensing Boards to Provide Guidance; Job-Creating Pa. Tax Credit Lands; and more.
  • Week Ending Jan. 31, 2020

    Jan 31, 2020
    In this issue: Pennsylvania 2020-2021 Budget Address; Natural Resource Cost and Percent Depletion Measure Introduced in Pa.; Pa. Continuing Education Carryover Bill; and more.
  • Week Ending Jan. 24, 2020

    Jan 24, 2020
    In this issue: Pa. Rep. Peifer to Amend CPA Law; Pa. House Speaker Turzai Will Not Seek Reelection; Pa. Performance-Based Budget Board Convenes; and more.
  • Special 2019 Year-End Legislative Update

    Jan 17, 2020
    In this issue: Thanks to Members for a Great 2019; PICPA 2019 Legislative Victories; A Look Ahead to 2020; and more.
  • Week Ending Jan. 10, 2020

    Jan 10, 2020
    In this issue: Pa. Lawmakers Convene for Start of 2020; New Pennsylvania Legislation in the Pipeline; Pa. Budget Hearing Schedules Announced; and more.
  • International Tax Planning in the Changing BEPS Landscape

    Dec 20, 2019
    In response to a number of highly publicized governmental hearings regarding how certain multinationals (including Apple, Hewlett-Packard, and Starbucks) achieve low effective tax rates on their foreign earnings, in 2013 the Organisation for Economic Co-operation and Development, an international economic organization of 34 countries, undertook a major review of international tax policy and best practices via the Base Erosion and Profit Shifting project.
  • Tax Planning for U.S. Operations of Foreign-Owned Enterprises

    Dec 20, 2019
    This column discusses the key organizational, operational, and repatriation tax issues of foreign-owned U.S. enterprises. We start from the assumption that the foreign corporation is entitled to the benefits available under a U.S. income tax treaty (the tax treaty).
  • Tax Treatment of Pass-Through Income by Trusts

    Dec 20, 2019
    Many tax practitioners who work with high-net-worth families are asked to prepare fiduciary income tax returns for trusts. Preparing fiduciary returns for trust accounts that are invested in basic stocks, bonds, and cash is complicated enough.
  • Pa. Conversion Statute Could Spur Reorganizations

    Dec 20, 2019
    While reviewing a possible re-organization involving a traditional merger, savvy consultants consider whether the restructuring could be accomplished more efficiently through one or more corporation-to-limited liability company conversions.
  • California Malpractice Case Highlights Audit Defenses

    Dec 20, 2019
    When an audit client is exposed as a corrupt enterprise and a court-appointed receiver pursues claims against the auditors for malpractice and aiding and abetting, what defenses are available to the auditor? There are some, but you must make sure they are strong and in place at the beginning of an engagement.
  • Zero-Based Budgeting: Building for Success Again, and Again, and Again

    Dec 20, 2019
    There are three ways for a company to increase economic value: increase revenue, cut costs, or do a combination of the two. But a number of “growth-starved” companies have moved toward zero-based budgeting (ZBB) in an effort to stay profitable.
  • The Internet of Things: The CPA’s Role in the New World of Business

    Dec 20, 2019
    A new wave of technological innovation, called the Internet of things (IoT), has started to spread. It is on the verge of creating significant disruption in a wide range of industries.
  • IRC 384: Buying a Winner yet Still Losing Out

    Dec 20, 2019
    You may be familiar with Internal Revenue Code Section 382 of the tax code, which limits an acquiring corporation’s ability to use certain preexisting tax attributes once the target corporation experiences an “ownership change.” The triggering of Section 382 can raise some rather complex issues, and may even serve as a potential roadblock to profitable, tax-paying corporations who are eager to reduce their tax burden by attempting to purchase the tax attributes of “loss corporations.”
  • Can a Value-Added Tax Put Our Debt in Order?

    Dec 20, 2019
    The projected deficits for the next 25 years raise concern about how long we can continue deficit spending. But is the country ready for a serious debate about an overhaul of our tax system?
  • Intentional Use of a Defective Grantor Trust in Estate Planning

    Dec 20, 2019
    One commonly used vehicle in gift and estate planning is the intentionally defective grantor trust, or IDGT. An IDGT is a separate and distinct entity from the individual transferor (grantor) who establishes the trust. The transfer in trust is treated as incomplete or “defective” by using strategies that cause the grantor to continue to be the owner for income taxes.
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