CPA Now Blog

Leading an organization in today’s business environment can be an adventure. The complex state of our economy is a time when strong leaders are needed to make bold decisions and rally teams to act with clear direction, a sense of urgency, and attention to detail. We must act with agility and excellence.

For many practices, as soon as one tax season is over, an immediate triage takes place and preparation for the next one starts in the fall. These firms can better position themselves if they take certain actions aimed at reaping the rewards from a tax practice.

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.

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.

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.

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.

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.

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.

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.