Winter 2025
Features
Mastering Project Management for Better Outcomes
By Katie McShane, CPA
Effective project management can ensure deadlines are met, budgets are adhered to, and client expectations are surpassed. This feature breaks down the key stages of project management for those in accounting and finance roles, offering practical advice for improving your skills and streamlining your work.
Updating the CPA Licensure Model: PICPA’s Efforts in This National Dialog
By Jennifer Cryder, CPA
One of the reasons the CPA credential is highly valued is because of the rigor it takes to become licensed. But when does that high bar become counterproductive? This feature discusses the ongoing national effort to come to an agreement on alternate pathways to licensure that do not degrade the credential nor sacrifice the profession’s ability to protect the public.
Complicated Tax Issues Confront Student Athletes Earlier than Ever
By Edward R. Jenkins, CPA, CGMA, and Alexandra Pepe
The new allowance for student athletes to earn money on their name, image, and likeness offers young adults much larger earning potential than ever. And that means tax issues much earlier than ever. Practitioners should prepare themselves for some of these new income and tax issues that may arise for families.
Columns
ASU 2023-09 Aims for Income Tax Transparency
By James J. Newhard, CPA
With an eye on enhancing the transparency and usefulness of income tax disclosures for investors, lenders, and creditors, the FASB in December 2023 issued ASU 2023-09. Beginning after Dec. 15, 2025, private companies will have expanded disclosures for income taxes, which will impact all income-tax-paying reporting entities, irrespective of the reporting framework.
Late Session Win for PICPA with Tax Appeal Reform
By Peter N. Calcara
With the clock winding down on the 2023-2024 session of the Pennsylvania General Assembly, the PICPA scored a huge legislative win. Senate Bill 1051 creates a voluntary settlement conference process available to both parties once an appeal is filed with the Board of Finance and Revenue (BF&R).
Accounting for Income Taxes in the M&A Environment
By Tom Lemon, CPA, and Greg Rineberg, CPA
Upon completing an acquisition or other business combination, a very important aspect is the proper accounting for the income tax impact under Accounting Standard Codification Topic 740, Income Taxes. The first step is determining if a transaction is considered a stock or asset acquisition for income tax purposes.
Know the Right Time to Turn to a Collection Agency
By Michael F. De Stefano, CPA, and Annette Carr
Most businesses truly want to give customers the benefit of the doubt. At some point, though, a company may be faced with the question: Is now the time to use a collection agency to assist in the collection process? This column highlights the delicacy and timing of collection options.
Good Taxing Authority Relationships Grow with Effective Communication
By Matthew Melinson, CPA, and Dylan Diodato, CPA
Understanding how to respond to state tax notices is essential to a taxpayer’s business operations. But correspondence with state taxing authorities is a multifaceted endeavor that requires the establishment of a robust relationship and constant, open communication.
Measuring and Detecting Fraud in Employee Loss Claims
By F. Dean Driskell III, CPA, ABV, CFF, and Peter S. Davis, CPA, ABV, CFF
Claims for employee losses are generally examined by insurance carriers who often seek the assistance of forensic accountants to quantify such claims. This column looks at the roles forensic accountants play in quantifying employee losses and how they may find instances that require further investigation.
Don’t Get Carried Away: Estate Planning with Carried Interest Under “Safe Harbor” and Other Planning Options
By Brian M. Balduzzi, JD, LLM (Taxation), CFP
Carried interest can be a tricky but important potential asset on an individual’s personal balance sheet. However, valuable estate planning techniques might help mitigate the effects of estate tax.
Exploring the Benefits of Standalone Cyber Insurance
By Lauren Pitonyak
A major cyberevent can damage your firm’s reputation, erode client trust, and harm your financial success. Existing professional liability policies might provide some cyber protection, but there is a strong case to be made for the enhanced benefits of separate cyber coverage.
