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.

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.

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.

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.

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.

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.

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.

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.

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?

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.

Mar 12, 2024, 00:00 AM by Matt Greene and Kristen Wilbert

The PICPA’s Pennsylvania CPA Foundation connected with Outlier.com 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.