CPA Now Blog

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Online influencer marketing. Believe it or not, accounting firms can succeed with similar efforts. There is, however, a lot to consider first.

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.

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.