CPA Now Blog Archive

On June 22, Gov. Tom Wolf signed into law the fiscal year 2018-2019 state budget—more than a week before the end of the fiscal year. With little of the political acrimony that typically mars the budget negotiation process, this budget relatively breezed to completion. How the heck did that happen?

Summer season is upon us, and many are about to embark on much anticipated travel plans. Some vacationers will enter the trifecta of credit card number theft locations: airports, restaurants, and hotels. Vacations are supposed to be a joyful time, so you don’t want to be a victim of fraud.

The Pennsylvania CPA Foundation was created to address the critical pipeline issues of the profession. Julius Green, the Pennsylvania CPA Foundation's first chair, discusses some of its first-year accomplishments.

Divorce planning is a specific discipline in the personal financial planning process; it always starts out emotional, but the end result is a financial transaction for both parties.

The Department of Revenue assisted in the development of the Pennsylvania Business One-Stop Shop, an online resource designed to help tax professionals and their clients. It is intended to take the guesswork out of many business procedures.

The PICPA Audit Committee met on Thursday, June 28, to review and approve for issuance the combined audited financial statement of the PICPA. The audited financial statements once again received an unmodified opinion.

With the Tax Cuts and Jobs Act of 2017, the IRS revised the tax withholding tables. There is a chance of an unexpected larger tax bill next tax filing season. The IRS has a new tax withholding calculator to help.

On June 21, 2018, the United States Supreme Court ruled in South Dakota v. Wayfair Inc. that out-of-state online retailers can be held responsible for collecting use tax from their customers without having a physical presence in a state.

The PICPA strives to balance current demands with the expectations of our members. This past year, our main areas of strategic focus – talent and pipeline, member engagement, professional development, and being the voice of the profession – have been consistent, but our approaches to achieving progress within them have been altered to respond to quickly evolving needs.

When it comes to benchmarking CPA firm operations, there is no better guide than the MAP Survey. AICPA PCPS has worked with practitioners to streamline the survey, and it now focuses on the most important key performance indicators.

The Pennsylvania CPA Journal Editorial Board is an extremely forward-thinking, dedicated group. They have come up with a treasure trove of feature ideas that has been sorted, scheduled, and placed on our 2018-2019 editorial calendar.

PICPA’s Day on the Hill is a unique opportunity for our members to bring their specialized training and problem-solving skills to Harrisburg. The ultimate goal is to position PICPA members as a resource to state lawmakers and regulators, to build relationships with decisionmakers, and to garner support for our legislative priorities.

Participation in PICPA events is all about the opportunity for members to support each other, build relationships, and help pass the passion for our CPA profession on to future generations.

Cynthia R. Bergvall, CPA, a speaker at the July 9-10 PICPA Government Accounting Conference, discusses how auditors can bring value to local government organizations through consulting services.

The PICPA Greater Philadelphia Chapter’s “Revolutionize Your Career: How to Land a Seat on a Board” was eye-opening experience about the changes occurring at the board level and how CPAs can be a part of it.

The IRS has announced that scammers have been reaching out to CPAs impersonating state accounting and professional associations. Please be cautious with emails purporting to be from the PICPA that don't seem quite right.

Whether or not practitioners can assist their audit clients with financial statement presentation, or any nonattest services, and maintain their independence has been a long-running debate. To ensure that auditors remain independent, the AICPA Professional Ethics Executive Committee (PEEC) and the U.S. Government Accountability Office (GAO) have created complex and detailed rules.

The state of health care in the United States and Pennsylvania is being transformed. PICPA member Joanne M. Judge, CPA, a shareholder and cochair of the health care department for Stevens & Lee, will provide a sneak peek into the issues she will discuss at the PICPA Health Care Conference.

With the passage of the Tax Cuts and Job Act of 2017, it appears that fewer people will be itemizing deductions such as charitable giving. But as a tax management strategy, a qualified charitable distribution (QCD) -- a direct transfer of funds from an IRA to a qualified charity -- may be worth a closer look.

Pennsylvania Act 18 marks the culmination of a four-year effort by Rep. George Dunbar, CPA (Inactive) and the PICPA to address the potential for double taxation on local earned income.