Sep 14, 2022, 13:24 PM by Howard Silverstone, MBE, CPA, CFF

According to the U.S. Census Bureau, the 65-and-older population has grown rapidly since 2010, and, according to forecasts, by 2040 the older population in the United States will reach almost 81 million. Subsequently, elder fraud and abuse will increase with the growing demographic. It’s up to all of us to try and stem the tide of exploitation.

Sep 14, 2022, 13:22 PM by J. Stephen McNally, CPA, CMA

It could be said that being a small-business CFO is the greatest job in the world – at least it is a claim that I often make! Do you have what it takes to be a small-business CFO? Do you look good in hats? This feature provides thoughts on successfully navigating the transition to a small business, including examples of the attributes you’ll likely need and the many hats you’ll likely wear as a small-business CFO.

Sep 14, 2022, 13:21 PM by Alex Fabian

The race to succeed Democratic Gov. Tom Wolf, who will leave office in January 2023 after serving the maximum of two four-year terms, is dominating the 2022 election cycle in Pennsylvania. With Pennsylvania’s unique position as a battleground state, this year’s election has caught national attention too.

Sep 14, 2022, 09:15 AM by Kim Brown, CPA

Explores the factors contributing to fewer working mothers in public accounting since 2020 and the actions firms can take to help reverse the decline.

Sep 14, 2022, 09:15 AM by Scott A. Koman, CPA, CFE, MAFF, and Mark W. Banks, CPA, CFE, MAFF

Explains how corporate CPAs, like it or not, are on the front lines in the fraud battles our companies constantly face, and new methods are needed to win the fight.

Sep 14, 2022, 09:14 AM by Khaled Abdel Ghany, CPA, PhD

Presents a suggested framework for a scenario that once seemed unlikely to occur: the accounting treatment of cryptocurrency transactions for state and local governments.

Sep 14, 2022, 09:14 AM by Ira S. Rosenbloom, CPA (inactive)

Explains that if firm owners are ready to merge with, or be acquired by, another firm, it’s important that they plan out well in advance of the coming tax season.

Sep 14, 2022, 09:13 AM by Andrew M. Bernard Jr., CPA

Analyzes the U.S. Treasury Department’s final foreign tax credit regulations under Treasury Regulation Section 1.901-2, which stem primarily from foreign countries enacting new digital service taxes.

Sep 14, 2022, 09:13 AM by Jessica L. Hildebrand, CPA, and James W. Sunday, CMA

Guides readers on the benefits of creating a strategic plan now to pass the new CPA Exam, which is set to debut in 2024.

Sep 14, 2022, 09:12 AM by Elisabeth Felten, CPA

Discusses the approaches many students are taking to fulfill the 150-hour requirement to become a CPA.

Sep 7, 2022, 12:07 PM by James P. Swanick, CPA, and Michael J. Tighe, CPA

In a column published in last summer’s Pennsylvania CPA Journal, we discussed why we anticipated seeing more asset deals among mergers and acquisitions as a result of certain changes brought on by the Tax Cuts and Jobs Act of 2017. This includes deemed asset purchases via an Internal Revenue Code Section 338(h)(10) election. Taxpayers would receive the benefit of getting a stepped-up basis in the assets acquired and resulting depreciation (including immediate expensing via bonus depreciation) and amortization deductions to follow.

Sep 7, 2022, 08:59 AM by Herbert R. Fineburg, LLM (Taxation)

I am frequently asked if a limited liability company (LLC) should be used to purchase a second residence. It is often an excellent choice for clients. There are many benefits of owning a residence in the name of an LLC.

Sep 7, 2022, 08:19 AM by Andrew M. Bernard Jr., CPA

Individuals from the United States who are shareholders (including estates and trusts) of controlled foreign corporations (CFCs) face a difficult path in how to structure these investments in a tax-effective manner. The Tax Cuts and Jobs Act of 2017 (TCJA) treats U.S. corporate shareholders more favorably than U.S. individuals with regard to investments in CFCs. The TCJA has a new global intangible low-taxed income (GILTI) inclusion as part of the U.S. Subpart F anti-deferral rules that expands inclusions from CFCs to individual shareholders who are federally taxed at up to 37%. It also creates a double taxation event because individuals are not entitled to a credit for underlying foreign taxes paid in the income included.

Jun 28, 2022, 16:39 PM by Alexandra C. Fabian

Explains PICPA’s response to IRS service and staff issues and how it continues to work with the AICPA and Congress on relief for taxpayers and practitioners.

Jun 28, 2022, 16:38 PM by James P. Swanick, CPA, Meredith Thornton, CPA, and Michael J. Tighe, CPA

Discusses how borrowers who use convertible debt as a financing option need to understand the rules that could limit the tax benefits of this instrument.

Jun 28, 2022, 16:37 PM by John S. Stoner, CPA, CVA

Discusses the interests of selling a business strategically and the questions to ask when assessing how the firm may appeal to an external buyer.

Jun 28, 2022, 16:35 PM by Angie M. Stephenson, CPA, PFS, CFP, and Thomas D. Giachetti, JD

Discusses how solicitor agreements can help CPA firms that - due to compliance complexities and independence parameters - chose to work with a wealth adviser on client matters.

Jun 28, 2022, 16:33 PM by Alyzabeth R. Smith, CPA

Discusses how financial service firms were affected by the Great Resignation and how they can chart a path forward to bolster their retention efforts.

Jun 28, 2022, 16:31 PM by Lauren Pitonyak

Explains that simple, everyday tasks can expose CPAs to malpractice litigation, but offers ways to mitigate the risks.

Jun 28, 2022, 16:29 PM by Michael F. De Stefano, CPA

What if colleagues shouted your name every time you entered the office? You’d probably feel a lot like Norm Peterson in the classic TV comedy series Cheers. Having rewatched the show recently, I began to see parallels with the functionality of a modern finance or accounting department.