CPA Now Blog Archive

Optimizing the accounts payable process may seem like a big undertaking, but it’s easier than it might seem. Today, technology can provide a crucial and cost-effective assist for overstretched accounts payable teams.

The PICPA is seeking amendments to the Pennsylvania CPA Law that will enable CPAs to better meet the needs of an evolving industry. House Bill 2288 will codify the professional conduct standards and expand the scope of education applicable to an accounting degree, among other adjustments.

The PICPA has been grappling with how to responsibly address the threat of the coronavirus outbreak. We have prepared resources specifically to help members and staff address coronavirus concerns.

Business disruptions from the coronavirus have reached a global scale. People are fearful and there is much uncertainty and misinformation. In this chaotic environment, CPA advisers must be alert to all the potential fallout.

Managing your organization’s risk exposure is a business imperative that requires vigilant monitoring. To make sure you get this done, you need a strong enterprise risk management framework.

The AICPA and National Association of State Boards of Accountancy have been discussing a new CPA licensure model for the profession. The model retains most core subject requirements, but also adds a targeted discipline of the test takers choice in a specific area of the profession.

We are in an age where information is king, and making decisions based on “real-time” data provides a competitive advantage. Necessity has shifted the old reporting paradigm of row-and-column reports to more visual and graphical reports.

About 20% of all CPAs who have the ability to decide when and if they will retire will simply choose “turn out the lights” as their exit strategy. There are better options. Consider a merger for your firm as a succession plan.

The PICPA and the Pennsylvania Department of Revenue met to discuss DOR’s Sales and Use Tax Letter Ruling 20-001, which spoke on the taxability of professional association membership fees. The discussion provided much needed clarity.

Ransomware places near the top on the list of common cybercrimes. The best measure to combat it, of course, is to make every reasonable effort to prevent ransomware from infecting your systems in the first place.

While the implementation of blockchain among financial institutions is still far from being called “widespread,” big banks are bringing traditional practices into the blockchain sphere. Is that a watering down of blockchain's original intended purpose?

Studies show that people tend to spend more when they pay electronically. Switching to an all-cash diet can help you see exactly what you’re spending and could deter some wasteful or frivolous purchases.

If you own unimproved or vacant land, there is an election under Internal Revenue Code Section 266 to capitalize expenses generated by the investment property. This may offer a solution to having lost certain deductions due to the Tax Cuts and Jobs Act.

On Jan. 31, 2020, the Pa. Department of Revenue issued Sales and Use Tax Letter Ruling No. SUT-20-001, which states that if membership fees include the transfer of taxable property in addition to nontaxable services, the entire membership charge is subject to tax. This presents a host of issues for the PICPA and other membership communities.

EPAct sections 179D and 45L provide energy incentives that can be quite powerful, particularly for larger properties. The Further Consolidated Appropriations Act of 2019 reestablished these programs retroactively back to Jan. 1, 2018.

Business transformations are often required to achieve greater success. But they are not always easy. This blog highlights a successful transformation journey, including some of the lessons learned.

When it comes to mergers and acquisitions, due diligence helps both the buyer and seller make informed decisions. Many parties may be involved, but perhaps nobody is as important to the process as a CPA.

When people think of CPAs, most don’t think about investigations. Forensic accounting is a technical field that requires the inquiring mind, attention to detail, and superb analytical skills common among CPAs.

With the Iowa and New Hampshire primaries getting underway, now is an opportune time to provide highlights of the various tax considerations of the leading candidates. One of these candidates will win their party’s respective nomination, and some of what is outlined here may become law.

To better align tax withholding with the new tax law, the IRS recently redesigned Form W-4, Employee’s Withholding Certificate. The new form looks significantly different than the one taxpayers have been filing for decades.