CPA Now Blog Archive

It may sometimes seem that state and local taxation (SALT) has a language that is incomprehensible to those who don’t practice in the field. This blog explains a few of the terms SALT practitioners commonly use.

With so many options available in the enterprise resource planning (ERP) software market it can be difficult to pick the solution that best meets your reporting needs and ensures your data is complete and clean. And capturing as much data in the best possible way is key to informed, real-time, actionable insights.

Pennsylvania’s Independent Fiscal Office recently published an updated demographics forecast for the state through 2030. The latest data show that state's labor force participation rates remain well below prepandemic rates.

An unsettled economic environment during a midterm election has historically been a recipe for disaster for the party in power. Not this year! Get a recap of 2022's surprising election results from PICPA's government relations team.

The PICPA Firm Ambassador program launched in 2020 to provide our members with opportunities to foster connections between young CPAs, their professional networks, and the PICPA. We are excited to work with a new class of ambassadors and continue this partnership with young leaders at Pennsylvania firms.

To help combat the ubiquitous cash flow issues among start-ups, the Inflation Reduction Act of 2022 doubles the amount of federal research and development (R&D) credits a qualified start-up company can use to offset its payroll tax. Qualified new companies may offset up to $500,000 of the employer portion of the Social Security tax and the Medicare payroll tax liability.

The PICPA government relations team has been working on major legislative changes to Pennsylvania’s CPA Law for years. On Nov. 3, Gov. Tom Wolf signed the legislation, making vital updates to the law that governs the profession and impacts so many functions.

Cloud computing has become a necessity for accounting firms to stay agile and competitive. There are many factors an accounting firm must consider before selecting a cloud service provider, and this blog provides several basic points that will help you get started.

The CPA Exam is being restructured into a new model that accounts for the critical skills required of modern CPAs. The new format deviates from the traditional menu of four established and required subjects. Naturally, test-takers will have a few questions.

To address the crisis of unfunded long-term health care expenses, Pennsylvania House Bill 2779 proposes funding long-term care through an additional payroll tax of 0.58% per $100 of gross wages. It is modeled after a Washington State program that surprised many in that state who were unaware of the mandatory tax and the short amount of time given to opt out. Long-term care is a serious issue that should surprise nobody.

With remote work becoming the norm, CPAs should know the nuances of working remotely and the importance of their designated principal place of business (PPB). CPAs must use their best judgement to make the PPB determination, but, in some cases, the PPB selection may not prevent the need for a second license.

If you are on your CPA Exam journey and were worried that you would need to pass all four sections of the current exam before the CPA Evolution goes into effect, you can breathe easy. Even though the content is changing, previously passed sections will count under the new model.

A great wave of CPA retirements is underway. Combine this with the fact that the rate of new CPAs joining the profession is falling, and this means a dangerous shortage is looming. Some firms that are facing recruiting difficulties have been advocating for chartered accountants to join the ranks of their staff.

Those with strong time management skills tend to have less stress and get more meaningful work accomplished. The key is to focus on what is important to you and how you can realistically prioritize your day.

Staffing issues have become more complicated than ever. To survive and thrive, several firms are looking at big, bold solutions to ease the pressures on their practices. Here are several bold steps some are enlisting to relieve pressure and strengthen their practices before the next tax season kicks into gear.

As you advance in your accounting career, establishing your personal brand and building a strong network become increasingly important. Joining professional organizations can be extremely beneficial in helping to accomplish career goals, expand your network, and make good and dependable friends.

Keeping your business primed for growth requires strong relationships with your staff. Facilitating successful relationships requires maintenance, and continuity interviews (as opposed to exit interviews) have become a powerful tool in the employee retention process.

The new Inflation Reduction Act is a large and complex piece of legislation that contains numerous tax components. This blog takes a deep look at the 15% Corporate Alternate Minimum Tax (CAMT) and several elements that deserve close scrutiny.

Did you ever hear "The best investment I ever made" said by someone referring to their home - or a vacation home in particular? Maybe the person was feeling giddy because of the sale price they received, but was it really a good investment? Often, it was not.

Sales and use tax can be a complicated area of taxation. One of the challenges tax practitioners often confront is determining the taxability of a transaction when the sale includes both a product and a service. This is where the “true object” test comes into play.