CPA Now Blog Archive

The controller is one of the most recognizable roles in financial leadership, but if you want to continue on into the role of chief financial officer you will need to embrace some new ways of thinking.

The state Board of Finance and Revenue has provided clarification regarding the reduced time for tax appeals due to the enactment of Act 43. It has been unclear whether or not taxpayers would be allowed to use the full 90-day period on the notices that were issued before the effective date. We now have an answer.

The House of Representative and the Senate has each approved its own version of tax reform. As the two legislative bodies reconcile the numerous differences in the respective bills, what does that mean for year-end tax planning? It may be prudent to take the approach that sweeping changes will take affect in 2018.

Perhaps you have considered using services like Airbnb to turn your primary residence into a vacation rental while you are away for the holidays. Have you considered the tax implications of doing so?

To achieve your organization’s objectives without too many surprises, and to prepare for the surprises that occur anyway, effectively leveraging risk management is mission-critical. By doing so, you can optimize the possibilities available to you. But how do you effectively leverage risk management?

Tax reform is close, but it is not yet a done deal. Taxpayers, however, should do year-end tax planning this year as they always have, however they should use the pending legislation to consider possible alternate scenarios.

For taxpayers seeking to maximize their tax-advantaged retirement savings options, “back-door” Roth IRA contributions are frequently touted. If your financial adviser is suggesting the strategy, be sure he or she works with you on understanding all the tax consequences.

PICPA’s Accounting and Auditing Procedures Committee has been following the AICPA Auditing Standards Board’s (ASB) project on auditor’s reports to evaluate its impact on privately held companies. On Nov. 28, 2017, the ASB finally issued an exposure document.

Cyber liability insurance and related risk mitigation is an area for which many in corporate finance are finding themselves responsible, despite having no background in technology. Cyberthreats are truly a business risk that demands attention from the C-suite as well as the directors and officers.

Two different tax reduction proposals have arisen in Congress: one in the House of Representatives and the other in the Senate. This blog explains some of the differences between the two, and how they compare to current tax law.

We asked PICPA members in mid-November for their input in a brief poll, “Year-End Tax Tips and Tax Reform.” The purpose of this poll was to see what our members were thinking regarding these tax issues. Find out the results.

Giving Tuesday is a day devoted to promoting efforts to give back to the community through service and donations. This year, when receiving a #GivingTuesday request, consider the Pennsylvania CPA Foundation.

The scope of the AICPA’s Enhancing Audit Quality initiative is considerable, and its accomplishments to date have been far-reaching, demonstrating AICPA's commitment to bettering the audit.

Every day seems to bring new details and information concerning federal tax reform. Both the House of Representatives and the Senate have recently issued their tax reform plans. There are significant differences between the two, and the process of reconciling the differences has begun … and so has the lobbying.

Retirement is a topic each of us must wrestle with personally at some point. If you are an owner, part owner, or partner in a business, perhaps the single most important step before retirement is to have a succession plan.

While most CPAs conceptually support high quality audits, many are not necessarily aware of the importance of supporting documentation or what that documentation should look like. The AICPA has identified several misconceptions regarding audit documentation.

When it comes to reimbursing out-of-pocket employee expenditures on work-related items, many employers have established policies. However, if the policy is not created and administered properly, there can be adverse effects for both the employee and the employer.

You have a great idea for a new product – one that is sure to make millions! The problem is you have no money to develop your idea. You may be considering a crowdfunding site, but do you know which one to use?

First-time AICPA Council attendee Ed Jenkins Jr., CPA, gets a glimpse of the future, and it has a profound effect.

Along with candidates for county and local offices, voters in Pennsylvania will face a ballot question when they enter the voting booth on Nov. 7. The question is about property tax, and you need to know what it means.