CPA Now Blog Archive

Whether it’s preparing for the changes coming to not-for-profit financial reporting, implementing the new single audit requirements, or auditing a government’s GASB No. 68 pension information, professionals working with governments and not-for-profits will find 2016 to be a transitional year.

Businesses nationwide are reviewing the new overtime-pay rule. In Pennsylvania, CPA firms and their clients are expressing concern. The rule may be well-intentioned, but it is likely to have unintended consequences. Many employers believe the rule will force them to cap workers’ hours, slow the hiring of full-time employees, and shift salaried workers to hourly schedules.

New single-audit requirements will be mandatory for all audits with year-ends on or after Dec. 25, 2015. For school districts, the first period to be audited under the new rules will be those with years ending June 30, 2016. Substantial preparation will have to be done to conduct single audits in accordance with the new requirements.

Nexus is a fancy word that means that you have a connection to a state, which gives that state the jurisdiction to subject your company to one or more of its taxes. In recent years, states have begun asserting nexus if a company merely makes sales in the state, even if it doesn't have a physical presence. This is known as “economic nexus.”

To be successful in your career you must find ways to bridge the gap between the generations. Use your knowledge of these challenges to think about what you want in a workplace and where you see yourself happily working for years to come.

Not-for-profit organizations make up what has been called the “invisible sector.” Employees, boards, and other volunteers quietly go about their work, supporting the high quality of community life that many for granted. But that building of something together requires one critical component: trust.

One of the newest DIY ideas for raising extra income is to drive people to their destinations through services such as Uber or Lyft. This can be a great option, but you need to be aware of the tax considerations.

With the growth of student borrowing, policymakers have responded over the years with legislative efforts at the federal and state level to help defray costs, but it only seems to have exacerbated the confusion about paying for college. This is where a CPA adviser can be instrumental.

PICPA’s April 20 Council meeting provided opportunities to discuss the topics that will have a direct impact on your profession. Want to see our short list?

Being part of a network of professionals is a core element of PICPA membership. Are you taking advantage of this valuable member benefit? If not, you could be missing out on vast opportunities.

Each and every tax season takes on its own personality and brings its own challenges. Learning from the pros and cons of each will only benefit your practice.

A CPA firm recently found itself in front of an unemployment compensation referee to determine if a seasonal employee was entitled to unemployment benefits. How could this be? Well, the Pennsylvania Unemployment Compensation Law does not recognize or define “seasonal” employees. What does this mean to your firm?

Whether you have been doing public speaking for many years or you’ve been invited to speak before a group for the first time, it’s important to stay connected with the audience. Reed these 10 tips to help you keep your audience engaged.

The Pennsylvania Institute of Certified Public Accountants (PICPA) recently conducted a survey of its members to gauge satisfaction with the organization’s flagship publication, the Pennsylvania CPA Journal. It is clear that membership finds the magazine to be an important PICPA benefit.

The so-called “Property Tax Independence Act,” or Senate Bill 76, is once again vying for the attention of Pennsylvania lawmakers. To be clear, SB 76 would not eliminate all school property taxes as advocates claim.

In the tax world, having a child is definitely a significant change that could affect your tax status for more than 20 years. Here’s a quick summary of some immediate parenthood tax plans to think about, as well as some long-range strategies to consider.

The American Institute of CPAs has stated that the next version of the Uniform CPA Examination will launch April 1, 2017. Find out what some of the big changes will be.

The U.S. Department of Labor has proposed major changes to the white-collar exemptions to federal overtime pay requirements. The proposal, if allowed to go into effect, could have significant ramifications to PICPA members, their firms, and the clients they represent.

When it comes to education savings, it’s good to have a reminder of what is available in case changes in your financial situation have altered your eligibility for one or more programs.

The launch of the new CPA Exam next year has created what would appear to be a surge of applicants in 2015. Nationally, the number of new candidates in 2015 rose to the highest it’s been in the past five years. But what about Pennsylvania?