CPA Now Blog

  • Strategic Management During Uncertain Times

    Feb 10, 2025
    CFOs and their teams see the bigger picture, understand the challenges and opportunities facing an organization, and can map the best path to success. Strategic management is a business imperative, especially during times of uncertainty.
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  • CPA Exam Blackout Dates End in 2025

    Feb 4, 2025
    CPA Exam candidates will have a much easier scheduling experience in 2025 with the return of continuous testing for the three core sections of the exam. This change eliminates restrictive testing windows and opens up most of the exam to year-round scheduling. This blog provides a breakdown of what this update means for your CPA journey.
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  • Embracing AI to Elevate Your Accounting

    Feb 3, 2025
    When it comes to artificial intelligence (AI) use in accounting, nothing yet has fully lived up to the early hype. In fact, what is out there only seems to reinforce the notion that AI will not replace accountants. However, that does not mean that those who effectively leverage AI won't surpass those who ignore it.
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  • Scholarships for Future Accountants: The Future Begins Here

    Jan 29, 2025
    The Pennsylvania CPA Foundation offers scholarships for high school seniors interested in accounting, college accounting students, and CPA Exam candidates. These efforts help ensure potential CPAs receive the support they need throughout the critical first steps of an accounting career.
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  • Independent Fiscal Office: Pennsylvania Tax System Leans Regressive

    Jan 27, 2025
    To gain a clear understanding of the economic impact from Pennsylvania's current tax system, as well as any proposed changes, effective tax rates (ETRs) are a useful tool. In this blog, the state's Independent Fiscal Office discusses its review of ETRs.
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  • Putting Annuity Payouts and Returns to the Test

    Jan 21, 2025
    Annuity terms and rates of return may vary considerably between insurance companies, and can be confusing for some consumers. So investors and their advisers should investigate several annuities before purchasing. Calculating the internal rate of return is a good first step, and can be a tremendous help.
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  • Don’t Let Local Taxes Slip You Up This Tax Season

    Jan 20, 2025
    In complying with a company’s state and local tax filing obligations, local taxes are too often overlooked. This blog provides a brief overview of local business taxes imposed on corporations, specifically those based on income and gross receipts.
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  • A Property Owner’s Trifecta: Cost Segregation, 179D Deduction, and the ITC

    Jan 14, 2025
    Cost segregation can be performed on virtually any type of property. But if that property was recently constructed or improved, it may also qualify for the 179D deduction. Then, if certain energy-efficient products are involved, the investment tax credit may also be claimed. Combined, these three options can create a triple stack of incentives that will maximize savings.
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  • Empathy: Critical to Building Relationships … and Business

    Jan 13, 2025
    Business development entails cultivating and deepening relationships to better enable one to give, connect with, and provide help to those who are most important. You must understand what each relationship most values, what they are afraid of losing, what they hope to gain. To be good at business development, you must have empathy for others.
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  • When Building a Lead Generation Strategy Avoid These Missteps

    Jan 7, 2025
    In the competitive world of accounting, the effective marketing of your CPA firm can be the difference between your entity thriving or merely surviving. However, not all marketing strategies are created equal. Some, in fact, can actually do more harm than good.
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  • Pennsylvania CPA-PAC Unveils New Identity, Modernizing Brand as Advocacy for Pennsylvania’s CPAs Continues

    Jan 7, 2025
    The PICPA is proud to announce the rebrand of the CPA-PAC, the PICPA’s political action committee dedicated to advocating for CPAs and fostering meaningful relationships with Pennsylvania’s lawmakers. This modernization reflects the CPA-PAC’s ongoing commitment to supporting CPAs in traversing and advocating for the profession in the modern political and economic landscape.
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  • Getting to the Source: Analyzing Recent Sourcing Updates

    Jan 6, 2025
    Sourcing income is a challenging aspect of tax compliance for businesses operating in multiple jurisdictions. Many states use market-based sourcing, which sources receipts to the location of the business’s customers; some continue to source receipts to the location of income-producing activity. This blog explores recent sourcing updates throughout the country.
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  • Breaking New Ground in Advocacy: A CPAs Journey into Retail Politics

    Dec 30, 2024
    Advocacy is an important part of PICPA’s mission, and every member can make a big difference ... even if it's as simple as showing up at a local legislator's town hall meeting. This blog follows one member's experience as she participates in retail politics for the first time.
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  • Essential Nonprofit Compliance: What Every CPA Needs to Know about Financial Reporting and Fund Accounting

    Dec 17, 2024
    This blog is part of a series designed to serve as a foundational guide for CPAs who are new to the nonprofit space, enabling them to navigate the sector and gradually deepen their knowledge. This post is on the unique financial reporting and fund accounting required of not-for-profits.
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  • Nurturing New Staff Accountants Inspires Successful Careers

    Dec 16, 2024
    Starting out in a public accounting firm can be a challenging journey. It demands technical skills, client relations ability, professionalism, and time management. But with proper guidance, new staff can thrive and achieve personal and professional success.
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  • Get Strategic Planning Right: Avoiding the 5 Worst Planning Errors

    Dec 10, 2024
    One of the most detrimental approaches to strategic planning is failing to engage employees and instead adopting a top-down direction throughout the process. This stifles creativity and innovation, but also kills buy-in from the very people responsible for executing the plan. Find out five of the worst possible decisions you can make when building a strategic plan.
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  • Now Is the Time to Prep for Pillar Two

    Dec 9, 2024
    With the OECD's Pillar Two, tax transparency via country-by-country reporting is relevant to global entities with consolidated revenues at or exceeding 750 million euros. In the Philadelphia region alone, the Chamber of Commerce of Greater Philadelphia identified at least 2,300 companies with an international presence. Implementation is underway, so now is the time for thoughtful adaptation.
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  • Tips for Balancing CPA Exam Prep and College Life

    Dec 3, 2024
    With careful planning and effective strategies, college accounting majors can maintain a healthy work-life balance while preparing for the CPA Exam. This blog offers practical tips to help students manage their time, reduce stress, and optimize their study sessions.
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  • Recent Supreme Court Decisions Will Facilitate Challenges to Tax Guidance

    Dec 2, 2024
    In June 2024, the U.S. Supreme Court issued a decision that almost certainly will have a significant effect on tax planning and controversy practice. The court held that statutory interpretation is a judicial function and that courts may not defer to an agency’s interpretation merely because a statute is unclear. The ultimate impact of the decision is not yet clear, but much tax guidance now seems vulnerable to challenge.
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  • Positive Communication Opens Doors to a Stronger Workplace

    Nov 19, 2024
    Positive communication should be an important business priority. It contributes to a productive work environment, increases morale and engagement, and leads to better outcomes. Firms that make concerted efforts to promote positive communication may also experience better problem-solving and a more innovative workspace.
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PICPA Staff Contributors

Disclaimer

Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.

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