Pennsylvania CPA Journal

Fall 2019 Edition

Features

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Risk Assessments: From Paper to Practice

By Adanma C. Akujieze, CPA, CISA, CIA
Provides a road map for helping to take your company’s risk assessment strategy from an on-paper idea to a critical part of your organization’s success. 

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Career Crossroads: Understanding Nonprofits before You Switch Jobs

By Michael F. Cade, CPA, CGMA
Urges those interested in a switch from the for-profit world to a not-for-profit one to have a full understanding of what nonprofits are all about before taking the leap.

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Unexpectedly Displaced: Calculating Economic Losses for a Boss Is No Simple Task

By James A. Stavros, CPA, CFF
Jessica Vrooman, CPA
Explores the complications that arise when seeking to calculate income losses for bosses due to personal injury, wrongful death, or another catastrophic event.

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An Interview with the Authors


Columns

Accounting & Assurance

AA

With Financial Reporting, It’s All about Disclosure

By James J. Newhard, CPA
Discusses the importance of proper disclosure in the process of financial reporting, going in-depth on both GAAP and special purpose framework disclosure basics. 
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Federal Tax

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Penalty Abatement Opportunities after Chai v. Commissioner

By Jed M. Silversmith, JD
Takes a look at the case of Chai v. Commissioner and the effect it has on IRS procedures for the assessment of penalties against individuals and other taxpayers.

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State & Local Tax

State

Tax Notice Management Is Critical

By Matthew D. Melinson, CPA, Vito A. Cosmo Jr., CPA, CGMA, and Kiley Shetler, CMI
Outlines best practices for tax notice management, including value-adds, pitfalls and prioritization, and penalties.

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Emerging CPAs

ECPA

Emerging Technologies Will Impact More than Office Duties

By Ashley L. Stampone, CPA, and Amanda S. Marcy, CPA

Details the many ways by which emerging technologies will affect CPA life beyond the office, including potential changes to licensure and CPA Exam updates.

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CPA Now Blog

CPA Exam, Licensing Among Factors Affected by Emerging Technology. Read Now >

International Tax

InterTax2

Consider Section 962 to Mitigate GILTI Inclusions

By Andrew M. Bernard Jr., CPA
Shows how Section 962 elections can be effective tools for mitigating the impact of enhanced U.S. tax inclusions from the GILTI provisions enacted for individuals during tax reform, but urges CPAs to help their clients carefully consider such a strategy.

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Practitioners

Prac

Practice Integration Imperatives

By Ira S. Rosenbloom, CPA (inactive)
Discusses considerations practitioners must have in mind when they are integrating a new firm into their practice.

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CPA Conversations Podcast

An interview with the author. Listen In >


Liability Lessons

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Client Board Meetings Offer Opportunity to Shine, but Don’t Trip Over Legal Line

By Jonathan S. Ziss, JD
Tells CPAs that attendance at client board meetings can serve as an opportunity to display tremendous value, but warns them to be vigilant of potential conflicts of interest in the course of such activities.

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Forensic Accounting

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Health Care Valuations Present Unique Challenges

By David H. Glusman, CPA, CFF, FABFA
Examines the compliance requirements that must be known to CPAs who seek to provide business valuation services to entities in the health care provider sector.

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Education

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Targeted Teaching Key to “Flipping” the Classroom

By Christian E. Wurst, CPA, PhD, and A. J. Kreimer, CPA
Explores the benefits of the flipped classroom for students of accounting.

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Government/Not-for-Profit

 

Form 990 Basics: Brief Overview and Best Practices

By Harrison A. Pereira, CPA
Details the significance of the Form 990 for not-for-profit organizations, discussing what needs to be filed and when, and the form’s use as a story-telling device for possible donors looking to learn more about an organization.

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Personal Financial Planning

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Using an LLC for Ownership of a Vacation Home

By Herbert R. Fineburg, LLM (Taxation)
Reviews the advantages of owning a residence in the name of an LLC. Among the advantages cited are protection from personal liability arising from the property and ease of transferring ownership.

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