Pennsylvania CPA Journal

Winter 2019 Edition

Features

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TCJA: Mining the Tax Benefits for Natural Resource Holders

By Edward A. Kollar, CPA, EA, CSEP
Examines the positive changes federal tax reform has brought for individuals and firms involved in the Pennsylvania natural resources industry.

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Tax Departments Can Unlock the Benefits of the TCJA

By James P. Swanick, CPA, and Michael J. Tighe, CPA
Discusses the importance of businesses getting up to speed on all the changes brought about by tax reform to not be left behind in a reshaped marketplace.

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Columns

Accounting & Assurance

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Revenue-Related Disclosures for Contractors

By Robert E. Williams, CPA,

Details the challenges construction companies will face as they seek to comply with Accounting Standards Codification 606, Revenue from Contracts with Customers.

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Business & Industry

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Turn to Statistics to Unveil Value

By Bruce S. Weitzman, CPA, and Leslie Marlo, FCAS, MAAA

  Offers a practical example of how CPAs can help add value to organizations through the understanding and application of probability and statistics.

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Business Succession Planning

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Pros and Cons of Selling a Business to a Key Employee

By John S. Stoner, CPA, CVA

Gives insight to exit-minded business owners on one of the options on their table: selling to an employee already within their business. 

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Employee Benefit Plans

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When a Nonaudit Client Calls for an EBP Audit

By Alan D. Ross, CPA

Explores the decision a firm needs to make when a client asks them to perform an employee benefit plans audit when the firm is not experienced in such work.

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Federal Tax

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IRS Modifies Guidance for Terminated S Corps Changing from Cash to Accrual Accounting

By Brendan P. Cox, CPA

Reviews recent guidance released by the IRS to address corporations changing from a cash to accrual method of accounting in connection to revoking S corporation status.

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Forensic Accounting

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Keep an Eye Open for Fraud after Disaster

By James A. Stavros, CPA, CFF

Underlines the importance of preventing fraud, especially the type perpetrated against victims in the wake of natural disasters.

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Legislative News

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PICPA Wraps Up Successful 2017-2018 Legislative Session

By Peter N. Calcara and Alexandra C. Fabian

Reviews the legislative achievements brought about by PICPA advocacy during the 2017-2018 session.

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Liability Lessons

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Determining the Right Policy Limit for Your Firm

By Ric Rosario, CPA, CGMA
  Offers a guide to firms wondering what their policy limit should be when looking into insurance and risk management.

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Personal Financial Planning

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Overlooked Ways to Find Clients Money

By Laurie A. Siebert, CPA, CFP
Examines the role of financial planners in helping their clients find money in areas they quite often forget.

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Practitioners

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You Can’t Hit the Client Bull’s-Eye Without Seeing the Target

By Dorothy Potash

  Runs through a series of steps to lead CPA practitioners not only to clients, but the right type of clients for their firms.

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State & Local Tax

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The Pennsylvania Sales Factor Conundrum

By Vito A. Cosmo Jr., CPA, CGMA, Matthew Cable, CPA, and Matthew D. Melinson, CPA

Addresses Pennsylvania sales factor complications, exploring current law and possible remedies.

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Technology

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Automate and Reclaim Valuable Tax Department Time

By Ryan Lynch

Reviews technologies that can be utilized to help free up time for heavily leveraged tax departments.

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