CPA Conversations about accounting news

The CPA Conversations podcast series focuses on accounting-related news and hot topics.

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Episodes

  • What New State Legislators Could Mean for Pennsylvania CPAs

    More than 40 new members of the Pennsylvania House and Senate were sworn in Jan. 1, 2019. Peter Calcara, vice president of PICPA’s government relations team, details how these new legislators could address major issues affecting CPAs – like combined reporting and tax reform – in the 2019-2020 session.
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  • The Private Company Council Election’s Impact on Valuation

    What is the “Private Company Council election?” According to a new report from Pine Hill Group, it is “a proposal that sought to provide businesses with an alternative to the requirement that they separately recognize certain customer-related intangible assets and noncompetition agreements at fair value.” That’s the definition. To go deeper, we met with Curtis Farrow, a manager with Pine Hill Group, and discussed the benefits of the election, the impact on valuation fees, and more.
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  • Preimmigration Tax Planning

    Tax planning is typically a year-round exercise for CPAs and their clients. One area that has gained momentum recently is preimmigration tax planning, which is relevant for nonresident aliens who are contemplating becoming either U.S. residents or U.S. citizens (collectively U.S. taxpayers). Planning focuses on the disparities in how nonresident aliens and U.S. taxpayers are taxed, both in the income tax and transfer tax context. Patrick J. McCormick, JD, LLM, a principal with Drucker & Scaccetti in Philadelphia, provides advice and strategies for practitioners in this area.
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  • Exploring The Laws of Wealth with Author Daniel Crosby

    Mike Briglia, CPA, CFP, interviews Dr. Daniel Crosby on his latest book, The Laws of Wealth: Psychology and the Secret to Investing Success. They explore the behavioral factors that determine the success or failure of investors, the value of robo-investing platforms, and why “diversification means always having to say you’re sorry.”
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  • The Power of the 179D Deduction

    Significant tax savings exist for companies seeking to “go green” via the EPAct’s Section 179D deduction. Bruce Johnson, founding partner with Capstan Tax Strategies in Jenkintown, Pa., and himself an engineer, discusses how this deduction – passed through the federal Energy Policy Act of 2005 – allows companies to save money while helping the environment.
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  • Advising Clients on Preretirement Health Care and Medicare Decisions

    Many people preparing for retirement don’t fully appreciate the cost of health care and Medicare. Kyle Stuckey, CPA, PFS, CFP, provides tips to personal financial planners on advising clients on these matters. Stuckey, of JFS Wealth Advisors in Camp Hill, Pa., shares his experiences of client challenges and how practitioners can overcome them.
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  • Enhanced Data Security for Tax Preparers

    The season for filing 2018 tax returns is almost upon us, which means tax practitioners will need to ensure they are properly securing their clients’ data. Torpey White, CPA, CISA, CITP, a partner with Wipfli and Consultants in Media, Pa., discusses potential new scams and what practitioners should do before, and during, tax season to protect sensitive data.
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  • Never Too Early to Prep for Tax Season Success

    Nothing keeps firms, employees, and clients happier than a smooth, successful tax season. To accomplish that, it takes planning, especially in a year after momentous tax reform and the significant Supreme Court decision in South Dakota v. Wayfair. To discuss how you can ensure that your firm’s tax season goes off with minimal hitches, we talked to Debbie Rood, risk control consulting director with CNA Insurance in Chicago.
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  • Two at the Top: The Emergence of Nonprofit Co-leadership

    “Two heads are better than one” is a popular saying, but is it true when it comes to running a nonprofit? Some nonprofits are testing the theory by adopting the nonprofit co-leadership model, which takes decision-making power out of the hands of one person and allows multiple individuals to have a say before a final call is made. This episode of CPA Conversations looks inside the approach with Michael Cade, a strategy consultant and executive coach for MFCCoach LLC in Morrisville, Pa.
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  • Blockchain: A Continued Source of Intrigue for CPAs and Firms

    Blockchain is a hot topic in the accounting profession. CPAs are tantalized by its potential to provide data security, streamlining of processes, and other benefits. However, questions continue to swirl about blockchain’s advantages, misconceptions, and compatibility with modern cryptocurrencies. To address these concerns, CPA Conversations turns to Dr. Sean Stein Smith, CPA, DBA, assistant professor in the department of business and economics at Lehman College, a senior college of the City University of New York in Bronx, N.Y.
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  • Help Ease the Suffering of Natural Disaster Victims with Fraud Vigilance

    Many times when a person falls victim to a natural disaster it is not the end of their suffering. Their loss is often worsened by criminals who prey on their desperation via fraud schemes. In a preview of his Forensic Accounting column in the winter 2019 Pennsylvania CPA Journal, James A. Stavros, CPA, CFF, managing director of Forensic Resolutions Inc., joined us to discuss why victims of natural disasters become targets of fraudsters and what CPAs can do to help prevent these crimes.
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  • The Effect of Tax Season on Mergers and Acquisitions

    For CPA tax practitioners, two general concerns weigh upon the minds of those nearing the time for an exit to retirement: tax season and the landscape for mergers and acquisitions (M&A). These two disparate concerns may not be as separate as they might seem. One can affect the other. But how? That’s the question we asked Ira Rosenbloom, chief operating executive for Optimum Strategies LLC in West Caldwell, N.J. He explains in-depth some of the tax season metrics both parties should be looking at during M&A negotiations, and what CPA firm leaders should be focusing on in the 2019 tax season if they are considering an exit in the near future.
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  • Tax Reform Is a Sea Change for Pennsylvania Natural Resources Holders

    The natural resources sector -- including minerals, quarried stone, coal, natural gas, and more -- is just one of many Pennsylvania industries affected by the Tax Cuts and Jobs Act. To discuss the tax law’s impacts, we spoke with Edward A. Kollar, CPA, EA, CSEP, firm director with Baker Tilly Virchow Krause LLP in Wilkes-Barre and author of the winter 2019 Pennsylvania CPA Journal feature “TCJA: Mining the Tax Benefits for Natural Resources Holders.”
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  • “CAS Is Cash”: Client Accounting Services Open Up New Revenue Streams for Firms

    As firms look for new opportunities to separate themselves from their competition and increase revenue, more and more they are looking at client accounting services, or CAS. In this CPA Conversations, we talk with Hitendra Patil, director of practice development for AccountantsWorld and one of Accounting Today’s Top 100 Most Influential People in Accounting, about what CAS entails, the benefits clients get from them, and the areas within a firm that need to be strengthened before providing CAS becomes an option. Check out AccountantsWorld’s guide to setting up a profitable client accounting services practice for more on this topic.
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  • Tax Reform’s Effect on Company Valuation Coming into Shape

    The full impact of the Tax Cuts and Jobs Act will not be clear for a while, but some aspects are beginning to get some clarity, such as company valuation. In this episode of CPA Conversations, we talk to PJ Patel, co-CEO and senior managing director of Valuation Research Corporation (also known as VRC) and Anthony Pumphrey, vice president of VRC, about the developments around debt financing, bonus depreciation, and more.
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  • What Types of Insurance Do Accounting Firms Need?

    October is Cybersecurity Month, and Jason Rogers, senior vice president of Gallagher Affinity, details the types of insurance accounting firms should have to protect themselves from cybercriminals and hackers. He also discusses trends and shares some real-life consequences of firms that were not properly covered.
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  • Ensure Directors Are Informed on Cybersecurity Concerns

    With so many issues in play when it comes to operating a business, boards of directors have a lot of information flying at them. One issue they must make sure they are not overlooking, however, is cybersecurity. In this CPA Conversations, Dan Desko and Troy Fine of Schneider Downs in Pittsburgh discuss what boards need to be aware of in areas such as data breaches, sophistication of cyberattacks, third-party vendors, mobile devices, and more.
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  • “Don’t Talk” and More Tips on Fraud and Federal Criminal Tax Investigations

    Forget about not talking “too much,” says Charlie Elliott, the co-presenter of “The Facts about Fraud & Federal Criminal Tax Investigations” at the Nov. 13 PICPA Valuation & Forensic Accounting Conference. Elliott advises that if you or your client find investigators banging at your door, the first thing you need to know is “don’t talk at all.” Get more of his tips in this episode of CPA Conversations.
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  • Creative Retirement Plan Design for Closely Held Businesses

    Ken Marblestone, JD, a partner with The MandMarblestone Group LLC in Philadelphia, is a proponent of creative retirement plan design for closely held businesses. In this preview of his session at PICPA’s 2018 Personal Financial Planning Conference on Nov. 8, he discusses how financial planners can use defined benefit and cash balance plans to generate significant deductions and retirement savings.
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  • Tech Advances and Data Growth Make Cloud Use a Virtual Must

    If we were doing this podcast five years ago, chances are it would be about the many reasons CPA firms have not moved operations to the cloud. Now, however, advances in technology and greater sophistication make resistance to the cloud almost futile. In this CPA Conversations podcast, Gene Marks, speaker, columnist for The Washington Post and Forbes.com, and president of The Marks Group, discusses all the reasons that going to the cloud makes sense for CPA firms of all sizes. For more, also check out Marks’s blog on the topic.
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