Pennsylvania CPA Journal

Winter 2020 Edition

Features

Tax Cuts and Jobs Acts Feature

Tax Reform Guidance from Treasury and the IRS

By Edward A. Kollar, CPA, EA, CSEP, and Tim Cotter, CPA, JD
Explores recent clarifications that have been made to the Tax Cuts and Jobs Act, including proposed Section 163(j) regulations and rental real estate safe harbor under Section 199A. 

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Audit Data Analytics Feature

Automating Audits: Bridging the Gap Between CPAs and CPUs

By Christopher T. Kosty, CPA, and Matthew R. Kraemer, CPA
Discusses the potential regulatory impact of data analytics and use cases covering how these tools have been implemented.

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CPA Conversations Podcast

An interview with the author. Listen In >


Keystone Opportunity Zone

Keystone Opportunity Zones: Deep Tax Knowledge Can Offer Unique Benefits

By Drew VandenBrul, CPA, and Dan Giorgio, CPA
Goes in depth on Pennsylvania's Keystone Opportunity Zone program, including details and planning opportunities.

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Robotic Process Automation Feature

Robotic Process Automation: Bringing on Bots to Enhance a CPA’s Work

By Adam M. Costa, CISA, CCSP
Examines robotic process automation's continuing impact on the accounting profession, including advantages it brings to businesses and areas that will be most affected in the future.

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CPA Conversations Podcast

An interview with the author. Listen In >



Columns

Federal Tax

FedTax

Qualified Opportunity Zones: Huge Tax Breaks for Community Investment

By Edward R. Jenkins Jr., CPA, CGMA
Explores the benefits and risks associated with investment in the qualified opportunity zones created by the Tax Cuts and Jobs Act of 2017.

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Accounting & Assurance

AA4

Related Parties Who “VIE” with Common Control

By James J. Newhard, CPA
Takes a look at the Financial Accounting Standards Board's guidance on variable interest entities. 

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Technology

Tech

Prevent Cyberattacks with These Five CPA Firm Controls

By Matt Dunn, CISSP, GXPN
Offers a five-step guide to ensure that your CPA firm does not fall victim to the efforts of cyber criminals.

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Business Transformations

BusTran3

Section 382(h) Proposed Regs Throw Taxpayers a Curveball

By James P. Swanick, CPA, and Michael J. Tighe, CPA
Looks into the effects of Internal Revenue Code Section 382(h), which was issued by the U.S. Treasury and the IRS to provide clarification to taxpayers in determining built-in gains and losses.


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Liability Lessons

Liability3

Risk Management Protocols: First Step against Cyberthreats

By Wilhelm Dingler, JD
Recommends bolstering a firm's risk management capabilities to serve as the first defense against cyber criminals and breaches.

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Business Succession Planning

PracSucPlan

Generation Transfers: Five Questions to Ask Beforehand

By John S. Stoner, CPA, CVA
Examines the queries business owners need to ask before agreeing to sell a business to a younger family member.

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Employee Benefit Plans

EBP3

Employee Benefit Plan Audits Get New Set of Rules

By David A. Torrillo, CPA, ABV, CVA
Dissects AICPA Statement on Auditing Standards No. 136, which was released in July 2019 and affects ERISA plan financial statement audits.

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Legislative News

State2

CPAs in Politics: Advocacy Allowed

By Alyzabeth R. Smith, CPA
Covers the importance of making sure CPA values are integrated into the political landscape. 


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