CPA Now Blog

  • Pennsylvania's Local Tax Structure and the Imperative Need for Reform

    Aug 8, 2023
    With a complex system covering various taxes at the local level, Pennsylvania faces challenges when it comes to fairness, efficiency, and economic growth. There is an urgent need for reform Pennsylvania’s local tax structure to ensure a more equitable and sustainable system.
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  • 5 Ways to Win Buy-in for Marketing Technology

    Aug 7, 2023
    Marketing managers at smaller firms often have fewer resources but are expected to deliver big. While difficult, it can be done with the help of technology. Learn five ways to help you win buy-in for marketing technology.
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  • AICPA Peer Review Board and the Rise of Nonconforming Engagements

    Aug 1, 2023
    Over the past few years there have been several hot spots of noncompliance that have drawn the attention of the AICPA peer review board. The board has issued specific guidance that provides peer reviewers with information needed to address areas of frequent noncompliance.
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  • Supercharge Your ERP System via Accounting Expertise and Software Innovation

    Jul 31, 2023
    A powerful enterprise resource planning (ERP) system demands the right combination of industry expertise and innovative technology. By leveraging the knowledge of accounting professionals with the capabilities of advanced software, you can unlock the potential of your ERP system and drive your organization to new heights.
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  • Receipts Sourcing: States’ Increasingly Aggressive Positions on Cost of Performance and Market-Based Sourcing

    Jul 25, 2023
    A number of cost-of-performance (COP) and market-based-sourcing court cases (MBS) have made headlines across the country. A recent trend being embraced by some states is to interpret COP statutes so that they lead to an MBS result. Such approaches have been met with varying degrees of success.
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  • Modernized Accounting Is More Than Just Using Excel

    Jul 24, 2023
    Among the many tasks CPAs perform is directing clients on accounting systems. Too often, though, there is a reluctance to champion a particular method. This old habit should be put to bed: everyone should be encouraged to adopt a modernized accounting system.
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  • CPA Thought Leadership: Getting Your Partners to Write

    Jul 18, 2023
    Accounting partners do not like to write, yet they approach their marketers with, “Hey, I see whitepapers from ABC Accounting everywhere. How come we aren’t doing that?” The answer is simple ... if they want to hear it.
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  • Support for Family Caregivers: PICPA Has Your Back

    Jul 17, 2023
    Millions of Americans are caring for one or more chronically ill or incapacitated loved ones while working and managing their own households. If you’re a family caregiver, you should know that the PICPA has just launched a new and free member resource: YourCare360 to guide you through the caregiving journey.
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  • Is a Half-Done Budget a Thing? The Budget Standoff Drags On

    Jul 11, 2023
    Each Pennsylvania budget cycle has its own unique challenges, with occasional political obstacles thrown in. This year was unique for the seeming deep freeze that settled on Harrisburg despite the summer heat. Although both chambers of the Pennsylvania General Assembly approved the state spending plan, the Senate adjourned without finalizing the bill, leaving the budget in legislative limbo.
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  • Social Security: Why the Pot Is Draining, and Ways to Solve It

    Jul 10, 2023
    According to the Social Security Administration, over 50% of all retirees rely on Social Security payments for over half of their retirement income. Discussions on the trust fund’s solvency and how to solve its shortcomings require a cool head and a deep dive.
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  • The IRS to Scrutinize ERC Claims: Are Businesses Ready?

    Jul 3, 2023
    The Employee Retention Credit (ERC) is a refundable tax credit against certain employment taxes that was authorized by the CARES Act of 2020 to entice small and medium-size businesses to retain employees through the pandemic. Recently, the IRS has begun to take a closer look at ERC claims, and it does not like what it is seeing. Businesses and their accountants must be ready to defend legitimate claims should the IRS comes knocking.
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  • AI, Data Security, and Confidentiality in Accountancy

    Jun 27, 2023
    Accounting and finance are undergoing a significant transformation as artificial intelligence and machine learning technologies become increasingly integrated into daily operations. As CPAs navigate this evolving landscape, it is imperative to maintain the highest standards of data security.
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  • Pitfalls of Expanding Business Across State Lines

    Jun 26, 2023
    Practitioners who understand the business tax rules in their home jurisdictions sometimes face unanticipated exposures when a growing business client expands across state and local lines. Through familiarity and the exercise of caution, unnecessary tax expense and exposure can be avoided.
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  • PICPA Urges Adoption of SALT Cap Work-Around

    Jun 22, 2023
    State budget negotiations are in full swing in Harrisburg, which is when many tax bills are proposed and agreed to. This year, the PICPA is urging the General Assembly to act on legislation that will help small businesses in the state and correct a tax unfairness.
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  • Exit Strategies for Firm Owners: Which Is the Right One?

    Jun 20, 2023
    Owners of small and midsize CPA firms do not like to think about their succession plan. It can be stressful, but the stress won't go away. If anything, it increases as practitioners inch closer to retirement age.
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  • Knowledge Work Lessons from the Culinary World

    Jun 19, 2023
    Chefs are renowned for their ability to thrive among tumult and turn out delicious and aesthetically pleasing meals all while managing stress. It boils down to organization. In this review of "Work Clean: What Great Chefs Can Teach Us About Organization" by Dan Charnas, find out how you can apply the chef’s practice of mise-en-place to your work.
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  • Three New Proposals on FASB’s Q2 2023 Agenda

    Jun 13, 2023
    The Financial Accounting Standards Board (FASB) released its updated agenda for Q2 2023, with three proposals added on April 17, 2023. Find out what these proposals cover.
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  • SECURE Act 2.0: Important Changes to Retirement Accounts

    Jun 12, 2023
    The SECURE Act 2.0 was signed into law in late 2022. The changes to the retirement system arising from the act will impact retirees and those currently saving for retirement. Some changes have already have gone into effect, while others are coming later. Familiarize yourself with the new rules now and understand how the changes may impact your clients.
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  • Flexing State Tax Muscle: The Evisceration of Public Law 86-272

    Jun 6, 2023
    U.S. Public Law 86-272 provides enormous protection from state income tax in instances where a company has limited activities within a state. If a taxpayer falls within the scope of the federal law, it will not be subject to a particular state’s income tax. However, there has been an uptick in states challenging taxpayers’ protection claims under Public Law 86-272 , so much so that some see an attempt to eviscerate it.
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  • Mandatory Amortization of Research Expenses: What CPAs Must Know

    Jun 5, 2023
    The Tax Cuts and Jobs Act of 2018 contained a provision mandating that, beginning in tax year 2022, Section 174 expenses must be amortized over five years, or 15 years in the case of foreign R&E, and may no longer be immediately deducted. There are several implications to this change.
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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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