CPA Now Blog

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.

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.

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.

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.

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.

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.

With hard work and engagement, CPAs can influence the state legislature for fair tax practices. This fall we won an optional settlement conference process for tax appeals brought to the Board of Finance and Revenue.

Whether in private practice or working within a large organization, CPAs must stay vigilant to protect themselves and their clients. This blog provides an overview of key compliance areas CPAs should focus on.

The Taxpayer Advocacy Panel is an independent federal advisory committee composed of volunteers who represent taxpayers in discussions with the IRS. Advocacy might not be the first thing that comes to mind when thinking of the IRS, but it does play an essential role in improving tax administration.

Because cannabis is illegal federally, financial institutions face a dilemma when deciding to provide services to these state-legal businesses. Understanding the implications of working with a cannabis-related businesses is both challenging and necessary for anybody providing financial services.

Financial services professionals are increasingly being called upon to help clients achieve their charitable goals as part of their overall investment strategy. One area that can help accomplish these dual objectives is impact investing.

As firms face challenges in attracting and retaining employees, discussions about company culture have gained prominence in recent years. Culture looks different at different firms, of course, but those who successfully retain talent focus on cultivating a workplace where innovation is encouraged, collaboration thrives, and employees' mental and emotional well-being is prioritized.

On Nov. 1, 2024, Philadelphia will have a new ordinance requiring tax preparers to provide clear information about their services and fees before they begin working with clients. As tax season approaches, tax professionals should be prepared to comply with these new requirements to ensure transparency and avoid penalties.

Data breaches and other types of cybercrime are a real and alarming issue accounting firms of all sizes face. To help alleviate the risk of potentially crippling damages, cyber liability insurance should be considered.

Different generations in the workplace have different needs, particularly when it comes to communication. If you are looking for innovative ways to embrace multigenerational communication, this blog offers several strategies for helping everyone be heard, regardless of generational differences.

If your CPA firm is looking to scale operations, streamline processes, and improve client satisfaction, believe it or not outsourcing may be for you. This blog explores how outsourced accounting services can be a game-changer.

With the accounting world struggling with a staffing shortage, artificial intelligence, or AI, will likely make inroads among more routine tasks, particularly in tax and audit. But before implementing this new technology, it's important to consider where your inefficiencies exist and how this technology can assist.

Nonprofit organizations face many hurdles, including rising expenses, staffing shortages, and decreased funding and donations. One way to help mitigate these challenges is through a thorough analysis of current operations and forming a plan for the future.

Pennsylvania is once again at the center of national attention as a critical swing state. But this year’s election has significance beyond the presidential and congressional races. Pennsylvania's three row offices – attorney general, auditor general, and treasurer – and control of the Pennsylvania General Assembly are elections that play a crucial role in shaping the future of Pennsylvania.

Whether you are balancing study time with completing college coursework, raising a family, or managing a full-time job, a strategic approach to your preparation for the CPA Exam is essential for success.