CPA Now Blog Archive

What do you do when your client comes to you with a Form 1099-MISC and tells you he was not an independent contractor, but was actually an employee? Or as happened to me last year, the client comes to you with no documentation at all?

The arrival of W-2s, 1099s, 1098s, and other income notices are the harbingers that tax season is upon us. Whether you go to a preparer or prepare yourself, here are some tips to help you get this task complete so you can move on to more exciting things.

A digital forensics expert is responsible for the acquisition and documentation of evidence, preservation, examination, storage, production of the ESI, incident response, and testifying as an independent expert. Digital evidence is found in computers, servers, e-mail, smart phones, tablets, USB flash drives, external hard drives, and removable media (i.e., CDs, DVDs).

It’s that time of year again. We are all perusing our checkbooks looking for tax deductions. When it comes to deductible charitable contributions, it’s not always just the check records you need. Here is a refresher on what are deductible charitable contributions and outright gifts to an organization.

If you think studying for the CPA Exam is hard, try doing it in sub-Saharan Africa. Karen Purkey, a recent CPA Exam scholarship winner, is doing just that. Upon graduation from Moravian College, Karen decided to begin her career in the Democratic Republic of Congo.

Just as last tax season was peaking toward the final filing deadline, the United States Office of Personnel Management noticed it had been hacked. A few months later it revealed that one of the single largest data breaches in U.S. history had occurred, potentially affecting more than 21.5 million individuals.

Diversity continues to be top of mind for business and accounting leaders across the country. So, how have we done? What progress has been made across our industry? Unfortunately the answer remains, not much. Certainly not enough.

Michael Flagiello, partner at WeiserMazars LLP, asks, “Is Excel the greatest application ever or a liability?” This graph shows the potential strengths and weaknesses of Excel.

The PICPA had a lot to say in 2015. In fact, PICPA’s committees, task forces, professional team members, and multiassociation coalitions have weighed in on more than 20 issues affecting CPAs.

Now that we are accustomed to malware, phishing attacks, and hacking, what can we expect from cybercrime in the future? Will we see the same attacks, or will we witness something new and insidious? Here are five areas that could have a big impact on the future of cybercrime.

3-Dimensional Leadership is a simple and practical model of leadership which groups critical competencies into three dimensions or categories:

A few years ago the PICPA hosted several focus groups with young CPAs. The traditional firm model was not necessarily appealing to this new generation of workers.

Clients understand the receiving of 1099s – they get them in the mail reporting the interest from their bank or brokerage house. But the same form that they receive from those payors is one they have to send the people they pay in the course of their business.

I once met a senior accounting major who was behind in her 150-credit-hour requirement and needed to complete them before beginning her job. The CLEP was her ticket to earning credits quickly and inexpensively.

Exploring how to use Excel beyond the traditional functions.

Opportunity, motivation, rationalization, and poor internal controls are the root of most fraud schemes executed by management, employees, or volunteers at school districts across the nation. The best protection against many fraud schemes, is halting them before they begin. One of the most commonly discussed fraud schemes identified at school districts is asset misappropriation, more specifically, employee embezzlement. Proper internal controls coupled with managerial oversight can provide a proactive defense mechanism against these internal predators.

The U.S. Supreme Court recently heard oral arguments in the case King vs. Burwell. Our current health care system rides on the outcome of this case. It addresses a vital component of the Affordable Care Act (ACA): tax credits that give millions of low and middle-income Americans the ability to pay for health coverage. The issue before the Court is whether the IRS may permissibly promulgate regulations to extend tax-credit subsidies to coverage purchased through exchanges established by the federal government under Section 1321 of the ACA.

Instead of just letting change happen and take its course, which could cause undue stress and not achieve the results you’re committed to, consider these four tips for managing change.

At PICPA’s first blended learning class participants had to complete four-hours of on-demand “homework” before attending the class. This type of program allows participants to take half the class on their own time, and the other half discussing the issues with the other participants.

If you are a Pennsylvania landowner with mineral rights who is offered a lease from a gas company, congratulations! This windfall, however, may raise many questions for you. It is advisable to consult a CPA with knowledge of taxation issues.