CPA Now Blog Archive

Retiring and moving to Florida does not necessarily mean you will be free from the Pennsylvania Department of Revenue -- especially if you still own property in the state. The ideas of “residency” and “domicile” are specifically defined, and breaking Pennsylvania residency isn’t as easy as driving down I-95.

As PICPA members, we should all offer to give back some of our valuable time. I encourage readers to volunteer for an event in your local chapter, like I did last year at the Reading Bike Hub.

If you are in construction and worried about your vulnerability to cyberattack, you'll need a collection of protections in place to help keep hackers at bay and safeguard your data. The first order of business is to establish internal controls over your IT processes and user functions.

Storing information “in the cloud” is a nebulous concept for most. To put it simply, cloud computing is essentially a place to store a lot of stuff. If the cloud was tangible, it would be an organized and (theoretically) limitless version of your attic.

For many business owners, particularly retail stores, electronic payments are increasing. Since increased electronic payments leads to the possibility of more electronic payment fraud, credit card companies are increasing security. Enter the EMV chip.

For many companies, hiring outside financial expertise provides access to organizational benefits they might not otherwise be able to afford in-house. One highly beneficial outsource option is the CFO – giving smaller companies access to the skill set that are a given among the big players.

Taxpayers who itemize their deductions can claim a deduction for gifts made to qualified charities. Most of us are aware that monetary gifts to our church or to the American Cancer Society are fully deductible with adequate documentation. But what about the raffle tickets we buy at a church fundraiser? Learn more about some of the limitations on charitable deductions.

Lengthy fair value disclosures have been simplified for employee benefit plans thanks to two recent Accounting Standard Updates. The new ASUs are intended to simplify the reporting required within the footnotes of the financial statements. Investment disclosures have been lengthy and difficult to understand in the past.

Ever Google yourself? Were you disappointed that you didn’t come up in the search? If you don’t care, you should because potential clients will care if your competitors appear in a search and you don't. Find out how to increase your digital presence.

As potential clients in the now-legal medical marijuana industry in Pennsylvania begin to call on CPAs for professional services, a conflict arises as to whether or not CPAs can serve these clients under the profession’s Code of Professional Conduct.

For many small businesses, automation through software is a great way to improve efficiencies and monitor progress. But to ensure the financial information in the system is accurately captured, internal controls are needed too.

The PICPA State Taxation Committee met recently with the Pennsylvania Department of Revenue to get a demonstration of its new e-TIDES feature that will soon be available to all practitioners. The feature allows for a detailed electronic Statement of Account to be requested via the Document Center.

CPAs who are looking for podcasts to stay current on professional and technical trends can now turn to the PICPA podcast series, CPA Conversations. The PICPA continually strives to give its members choices on how to get their information, and podcasts are an option that is growing in popularity.

In order to achieve true change, we must undergo paradigm shifts―to change ourselves fundamentally and not just alter our attitudes and behaviors on the surface level. That's where the seven habits of highly effective people come in.

ASC 842 is a new leasing standard that is more principles-based and eliminates traditional operating lease accounting for all but short-term leases. The new standard requires lessees and lessors to classify all long-term leases on the statement of financial position. Thus, the four bright lines to distinguish between a capital lease and an operating (off balance sheet) lease that existed under ASC 840 are no longer relevant.

There are often conflicting and confusing messages delivered by various investment industry leaders. Your clients may be asking you, “Where is the stock market going next?" or "Is the market recovery really over?" It is our job to provide the best answers that we can.

If you are a CFE looking for great and dependable ethics resources, the PICPA is right for you.

Due to an increase in the number of fraudulent tax returns, the U.S. Treasury Department implemented a requirement that paid preparers must register and obtain a Preparer Tax Identification Number, among other requirements. The initiative was struck down by the D.C. Court of Appeals. A voluntary program was introduced, but the initiative has been accompanied by a substantial amount of litigation, particularly by the AICPA. Here is an overview.

At PICPA's 119th Annual Convention, as I was listening to a professional issues update, I wondered what members were talking about at the first convention. I’m sure it was about adapting to change. CPAs and the PICPA have always encountered change, and have evolved over the years to identify new opportunities.

Opening negotiations with employees, giving them a voice in the direction of the business, takes successful negotiating to new levels. Before you can engage in this strategy, you need the right tools, and those tools, believe it or not, can be found in the world of improv.