• The Case for Working in the Office

    Nov 30, 2020
    These days, home is not just where the heart is; it’s also where your office is … and daycare … and the gym. The precautions of social distancing may provide an element of commuting convenience but there is an undeniable corresponding chaos. On our bad days at the home office, commutes and cube farms begin to look a little more appealing. There are clear and convincing reasons why remote work is here to stay, but there are also benefits that should not be ignored from team use of commercial office space.
  • Time Running Short on 2020-Specific Planning Opportunities

    Nov 30, 2020
    Now is the time for CPAs to connect with their clients for financial planning before this year’s opportunities are gone. Given the outbreak of the pandemic, subsequent legislative action passed in the CARES Act, labor cutbacks, and volatility in financial markets, the end of 2020 has become a prime moment when you can assist clients and, when possible, take advantage of a favorable planning environment.
  • DOR vs. AG: Who Gets Final Say on Tax Statute Interpretation?

    Nov 30, 2020
    In the unusual case of Synthes USA HQ Inc. v. Commonwealth of Pennsylvania, the Commonwealth Court resolved dueling interpretations between the state Department of Revenue (DOR) and the Office of the Attorney General regarding apportionment sourcing of service revenues. The outcome of the case has potentially wide-ranging implications for corporate net income tax and personal income tax apportionment via pass-through entities. The deference given by the court to the DOR may also impact future tax controversies and settlements.
  • Obligations to Produce Records in Response to a Subpoena

    Nov 30, 2020
    Tax return preparers have certain obligations regarding confidentiality. Failure to adhere to these rules can subject preparers to civil and criminal liability, possibly causing irreparable reputational harm.
  • SSARS 25: Big Benefits to Early Adoption

    Nov 30, 2020
    AICPA’s Accounting & Review Services Committee issued SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions, in February 2020 – fewer than 50 days before the COVID-19 pandemic quarantine. While the standard does not require application until reporting periods ending after Dec. 15, 2021, there are strong arguments for early adoption of SSARS 25 for 2020 review engagements.
  • Comfort with the Uncomfortable: CFO Leadership

    Nov 30, 2020
    Recently I had a conversation with a coworker about professional development to help them prepare to move beyond their current role. The exchange took me back to how unprepared I felt some 10 years ago when I stepped into the CFO role for the first time. There was no textbook I had read or class I had taken that prepared me for the pace and randomness of the CFO role. One can certainly learn from others if you have a good mentor or teacher, and reading articles and attending CPE do help take some of the mystery away over time. In the end, though, the best way to learn is through the experience of being in the role. This column has been prepared to help those who aspire to be CFOs someday understand some of the dynamics they may encounter when stepping into that role.
  • Have a Plan to Pass the Torch for Succession Planning Success

    Nov 30, 2020
    Having a well-thought-out succession plan is critical to the long-term viability of a business. Yet, according to PwC’s 2019 U.S. Family Business Survey, only 58% of family businesses have succession plans, and most of those are informal.
  • The Past, Present, and Future of Consolidation in Public Accounting

    Nov 30, 2020
    In many ways, the KPMG transaction was the catalyst for a wave of mergers and combinations that has taken place across the accounting profession over the past 30 years among firms of all sizes. In this feature, we look at what motivates “the urge to merge” and examine the implications of continuing consolidation within the profession.
  • Growing Debts and Deficits Pulling Down Our Future

    Nov 30, 2020
    What’s the difference between “equity” and “resilience?” In real terms, essentially nothing: equity is resilience. Equity gives you, a company, or a government the ability to take a hit – a hit like a recession or a pandemic. The big question now is whether or not the United States has the equity to return to normal after a crisis. To consider this issue, I explore the growing U.S. debt, the concomitant reduction in equity, and the implications of debt growth on government and the economy as a whole.
  • Corporate CPAs: A Beacon of Ethical Behavior

    Nov 30, 2020
    In all likelihood, I’m guessing your CEO and board usually set financial targets that call for significant sales growth – perhaps even when the core product line has been in decline for years. You and your finance team are expected to deliver this growth while also planning for reduced costs and delivering increased income on the bottom line. If you hit headwinds, you better protect the bottom line at all costs, right? Wall Street and other stakeholders will not be forgiving if you miss the targets you’ve communicated.
  • Becoming a Creative CPA with the WonderRigor Paradigm

    Nov 30, 2020
    Having mastered rigor, are we, as CPAs, already halfway to becoming our best creative selves? James Caruso reached out to Nixon and the two have come together to discuss the WonderRigor creative framework, how it can be used to apply a creativity competency to accounting, and why CPAs are already more creative than they think.
  • Week Ending Nov. 20, 2020

    Nov 23, 2020
    In this issue: CPE Carryover Bill Heads to Gov. Wolf; Pa. Supplement Appropriations Bill Completed; Lawmakers Approve COVID-19 Liability Protections; and more.
  • Week Ending Nov. 13, 2020

    Nov 13, 2020
    In this issue: Pennsylvania COVID-19 Telework Guidance Issued by DOR; McClinton First Black Woman Elected to Lead Pa. House Democrats; Corman, Ward Top Pa. Senate Republican Leadership Team; and more.
  • 2020 Run The Numbers 5k Times Announced

    Nov 06, 2020
  • Week Ending Nov. 6, 2020

    Nov 06, 2020
    In this issue: Pa. Lawmakers Return Nov. 10 for Leadership Elections; Pennsylvania Sales Tax Receipts Strong; State Tax Liabilities Related to Working Remotely; and more.
  • Week Ending Oct. 30, 2020

    Oct 30, 2020
    In this issue: PICPA State Tax Committee Hosts Pennsylvania DOR; IFO 2020-2021 Pa. Revenue and Economic Update; PICPA Legislative Update Webinar; and more.
  • Week Ending Oct. 23, 2020

    Oct 23, 2020
    In this issue: PICPA 2020 Pennsylvania Election Guide Now Available; Employee Misclassification Bill Approved by Pa. Lawmakers; Bill Creates New Pennsylvania Commerce Court; and more.
  • Week Ending Oct. 16, 2020

    Oct 16, 2020
    In this issue: Pa. Restaurant Opening Bill Awaits Gubernatorial Action; Pennsylvania Republicans Unveil COVID Comeback Bills; Bill Proposes Hazard Pay for Pa. Nonprofit Workers; and more.
  • Week Ending Oct. 9, 2020

    Oct 09, 2020
    In this issue: PPP Loan Forgiveness Clears Pennsylvania Senate Committee; Coalition Urges Continuation of PPP to Help Small Businesses; Relief Announced for Pa. Small Businesses Impacted by COVID-19; and more.
  • Week Ending Oct. 2, 2020

    Oct 05, 2020
    In this issue: PICPA Seeks Guidance on Remote Working Nexus; New Overtime Rule Takes Effect in Pennsylvania; Pa. Senate Committee to Consider PPP Loan Forgiveness; and more.
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