Spring 2026
Features
The Reports of the Small Firm’s Death Are Greatly Exaggerated
By James J. Newhard, CPA
Some have wondered if the days of the small practice is numbered. This feature affirms that smaller and solo practices can do more than survive, they can thrive thanks to the benefits offered by AI.
Won’t You Be My Partner?
By Edward R. Jenkins Jr., CPA, CGMA
Partnerships are nothing new to accounting, but venture capital is. Often private equity arrangements create complicated partnership structures, and with those come complicated compliance issues.
Accounting and Finance Exposure in High School and Its Talent Pipeline Implications
By Jennifer Waldo, DBA, and Keith B. Bittel, CPA
This feature looks at research into the influence early exposure to accounting education in high schools had on prospective accounting majors in college. The findings may not be exactly what you thought.
The OBBBA and Tax Filing Season: What You Need to Know about Personal Income Tax Changes
By Robert Duquette, CPA, and Mike Pinette
This feature looks at many of the federal personal income tax changes created by 2025’s One Big Beautiful Bill Act. Many of the alterations will impact tax filings now and down the road.
Columns
Government & Not-for-Profit
Uniform Guidance Revisions Offer Compliance Relief
By Salvatore J. Spera, CPA
The Government/Not-for-Profit column looks at the 2024 revisions to 2 CFR Part 200. As most auditors will have only started working through their first audits under the new requirements, they may find that it is actually leading to additional work in the first year.
Legislative News
Modernizing the CPA Profession
By Peter N. Calcara
Through sustained advocacy and bipartisan engagement, the PICPA secured unanimous passage of Act 27 of 2025, a sweeping modernization of Pennsylvania’s CPA licensure law. Our efforts reflect a profession that is responsive to evolving workforce realities, modern interstate standards, and the practical challenges facing aspiring CPAs and their employers.
Business & Industry
How the Outsourced Tax Director Fits into a Hybrid Approach
By Anthony J. Borrelli
CFOs know tax work will never be simple, but it should be manageable. This issue’s Business & Industry column discusses the pros of bringing in an outsourced tax director and implementing a hybrid structure to manage taxes.
Personal Financial Planning
New Real Estate Transfer Reporting Demands Attention to Avoid FinCEN Trouble
By Brian M. Balduzzi, JD, LLM (Taxation), CFP
This issue's Personal Financial Planning column looks at FinCEN’s new reporting requirements to curb the illicit use of residential real estate.
Federal Tax
Corporate Distributions: A Word to the Wise
By Anthony DiGiuseppe, CPA
This issue’s Federal Tax column looks at the taxation of distributions and the necessity for proper planning – particularly the tracking of earnings and profits.
International Tax
Use MAP When Making Downward Adjustments to U.S. Transfer Price Post Filing
By Andrew M. Bernard Jr., CPA, MST, and Lucia Fedina, PhD
This issue's International Tax column explains how a Mutual Agreement Procedure (MAP) is one of the principal mechanisms for resolving cross-border tax disputes and eliminating or reducing instances of double taxation.
Ethics
Virtue Ethics in Business Practices
By Tamarah Abdullatif, Heather Kuhns, DBA, and Mark Koscinski, CPA, DLitt
This issue’s Ethics column looks at how instituting an internal ethical foundation rooted in virtue can be critical to navigating the gray areas that could make or break a business.
Liability Lessons
Market Changes Should Spur Professional Liability Review
By Irene M. Walton
Private equity investment, mergers, and new federal reporting rules are reshaping how CPA firms operate and how risk is managed. The Liability Lessons column illustrates how that even when firms merge, legacy risk can follow.
Practitioners
The Where and How of Bringing AI into Your Practice
By Michael Kirchner, CPA, and Dan Owens, CPA
AI is making inroads at many levels. The Practitioners column provides ideas on how to bring AI into an accounting practice.
