CPA Now Blog

Business development entails cultivating and deepening relationships to better enable one to give, connect with, and provide help to those who are most important. You must understand what each relationship most values, what they are afraid of losing, what they hope to gain. To be good at business development, you must have empathy for others.

In the competitive world of accounting, the effective marketing of your CPA firm can be the difference between your entity thriving or merely surviving. However, not all marketing strategies are created equal. Some, in fact, can actually do more harm than good.

The PICPA is proud to announce the rebrand of the CPA-PAC, the PICPA’s political action committee dedicated to advocating for CPAs and fostering meaningful relationships with Pennsylvania’s lawmakers. This modernization reflects the CPA-PAC’s ongoing commitment to supporting CPAs in traversing and advocating for the profession in the modern political and economic landscape.

Sourcing income is a challenging aspect of tax compliance for businesses operating in multiple jurisdictions. Many states use market-based sourcing, which sources receipts to the location of the business’s customers; some continue to source receipts to the location of income-producing activity. This blog explores recent sourcing updates throughout the country.

Advocacy is an important part of PICPA’s mission, and every member can make a big difference ... even if it's as simple as showing up at a local legislator's town hall meeting. This blog follows one member's experience as she participates in retail politics for the first time.

This blog is part of a series designed to serve as a foundational guide for CPAs who are new to the nonprofit space, enabling them to navigate the sector and gradually deepen their knowledge. This post is on the unique financial reporting and fund accounting required of not-for-profits.

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.