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CPA Now Blog

  • 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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  • Young Professionals: Remember the Importance of Networking

    Jun 1, 2023
    Networking is vital. It exposes young professionals to diverse perspectives, experiences, and expertise. Elijah Goosby shares his experience at the PICPA 126th Annual Meeting, and wishes you were there.
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  • The Pennsylvania CPA-PAC Allows CPAs to Drive Their Own Destiny

    May 30, 2023
    The PICPA has a political action committee to serve the unique interests of CPAs in Pennsylvania’s political process. A dedicated PAC might come as a surprise to many PICPA members, but it’s true.
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  • IRS Additional Funding: What’s that Mean for CPAs?

    May 23, 2023
    Earlier this spring, the IRS unveiled its much-anticipated plan on how it will spend the $80 billion it was allocated under the Inflation Reduction Act of 2022. Find out more about its goals and timetables covering areas such as operations support, enforcement, taxpayer services, and technology modernization.
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  • Can Accounting Firms Benefit from Influencer Marketing?

    May 22, 2023
    Online influencer marketing. Believe it or not, accounting firms can succeed with similar efforts. There is, however, a lot to consider first.
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  • PICPA Small Firm Alliance Offers Tools to Help Build Your Success

    May 17, 2023
    PICPA’s Small Firm Alliance provides small firms and sole practitioners with the support features that can be hard to come by in firms of their size. This blog shares some of the benefits to which Small Firm Alliance members have access.
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  • The Extended and Expanded Energy-Efficient Tax Incentives of the Inflation Reduction Act

    May 15, 2023
    As we approach the Aug. 16 anniversary of the passage of the Inflation Reduction Act of 2022, now is a good time for a reminder of its impact on federal energy-efficiency tax incentives. This blog summarizes the major changes the act made to the EPAct Section 179D deduction and Section 45L credit.
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  • The Dos and Don’ts of Client Disengagement

    May 12, 2023
    As you reflect on the busy season you just traversed, if you are like many CPAs you may be identifying the stressors in your life, maybe even identifying specific issues or clients you wish were no longer along for the ride. Now is the time to make a clean break and dismiss a select set of troublesome clients. 
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  • Tax Adjustments Made Now Maximize 2023 Benefits

    May 10, 2023
    As we take a deep breath following tax filing day for individuals, don’t stop your clients’ tax work now. This is a really good time to think about how to help our clients prepare for next year’s tax return.
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  • Every Election Is Important: Pa. Primary Just Around the Corner

    May 8, 2023
    Pennsylvania holds its primary elections on Tuesday, May 16. Many think that municipal elections are mundane, but, in many respects, they are as important as the more high-profile elections.
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  • State and Local Tax Burden: Pennsylvania Ranks 21st

    May 3, 2023
    In February 2023, the Pennsylvania Independent Fiscal Office (IFO) released its annual report, "State and Local Tax Revenues: A 50 State Comparison." Can you guess where Pennsylvania ranks?
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  • Accounting Firms at a Crossroads: New Research in Pa. Points the Way Forward

    May 2, 2023
    Accounting firms in Pennsylvania are under a lot of pressure, and leaders are concerned about the future of their firms and the profession as a whole. This is why Insights, PICPA’s research function, commissioned a study of Pennsylvania accounting firms to gain a better understanding of how the profession is addressing its challenges.
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  • CPA Input on Tax Policy at the National Level

    May 1, 2023
    Earlier this year, the AICPA Tax Executive Committee sent a letter to Congress that included 61 proposals to adjust the Internal Revenue Code in areas that need attention or to make technical fixes. This is one way that CPAs, in their role as the most trusted professional providers of tax services, can advocate for sound tax policy and effective tax administration.
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  • What’s Really Changing? Technology, Perspective, and the Finance Function

    Apr 25, 2023
    There is a common misconception that technology will fix any business process issue. The reality is that technology, when implemented over poor or broken processes, may exacerbate those issues. Technology should be used to enhance optimized processes, not force companies to operate a particular way.
    Full story

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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