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Winter 2026
Features
The One Big Beautiful Bill Act: Bigger Debt Isn’t Beautiful
By Edward R. Jenkins Jr., CPA, CGMA
The One Big Beautiful Bill Act (OBBBA) was passed this summer, and its tax implications are broad and deep. This feature looks at the OBBBA from both a bird’s-eye economic view (debt and deficit), while also providing some new details to help prepare you for the questions coming your way in tax season.
A Board Seat Is A Significant Milestone: Here’s How to Get There
By Jim DeLuccia and Ryan G. Lafferty, CPA (Inactive)
Many CPAs view a seat on a board of directors as a significant career milestone, but they aren't always sure how to pursue it. This feature explains the steps that interested CPAs should take and shares the perspectives of four professionals who have succeeded in achieving a seat on a board.
Corporate CPAs and the Wide World of Opportunity
By J. Stephen McNally, CPA, CMA
Becoming a CFO or member of the CFO’s team are excellent career path choices for CPAs. This feature highlights the author’s personal career journey as an example, and includes the skills and experiences he believes are key to success on the CFO team.
Student Athlete Income Recognition: State and Federal Tax Care Required
By Edward R. Jenkins Jr., CPA, CGMA
With allowances for name, image , and likeness income, as well as damage awards for past athletes, many types and sources of income will be coming these students’ way. This feature focuses on the new tax world and all the tax compliance issues that go with it that student athletes face, and for which they may not be ready.
Columns
Accounting & Assurance
Accounting for ESOPs
By Nicole K. Cradic, CPA
There are many reasons why company owners may consider selling their ownership stake to an employee stock ownership plan (ESOP). But doing so may also create some challenges. This column looks at the accounting for ESOPs and some possibly unexpected quirks.
Business & Industry
Where Is AI’s Place in the Finance Function?
By James J. Caruso, CPA (Inactive)
But beyond the hype, how exactly can artificial intelligence (AI) be put to use in corporate finance? This Business & Industry column examines how CFOs and the finance functions can incorporate AI, and offers a few examples of how it is being used.
Business Succession Planning
Size and Sizzle Make a Difference in CPA Firm M&A
By Ira Rosenbloom, CPA (Inactive)
Today’s buyers and sellers of accounting practices are looking for specialized service offerings, niche expertise, firm size, and reputational strength. Take stock of the forces shaping today’s deals and put the work in to position yourself more effectively.
Legislative News
The Power of Participation: Your Support of CPA-PAC Matters
By Peter N. Calcara
Many assume PACs must be partisan, but when it comes to the CPA-PAC it is not about partisanship, but rather partnership. This column explains how the CPA-PAC works to ensure a commitment to sound fiscal policy, government transparency, and that the profession has a consistent and credible voice at the table when policy discussions take place.
Employee Benefit Plans
The Importance of Employee Benefit Plan Audits
By Karolina Wiszowaty, CPA, and Yen Tieu, CPA
When it comes to employee benefit plans, an audit is more than a compliance action. As explained in this column, audits also build trust and transparency, identify areas for improvement, among other benefits.
Practitioners
Build a Trusted Referral Network to Better Serve Clients
By Ryan G. Lafferty, CPA (Inactive)
If you are a sole practitioner or owner of a smaller firm, it is not uncommon that your clients will ask for help in areas beyond your scope. This column shares how practitioners can build a network of trusted referral partners.
Federal Tax
Navigating Section 174, R&D Expenses, and the New Tax Law
By Sonnonedria Miller, CPA
The One Big Beautiful Bill Act of 2025 (OBBBA) made significant changes to the tax treatment of research and development (R&D) expenses. This Federal Tax column explains the new guidelines and the amended Section 174 rules.
Liability Lessons
Liability Implications of Private Equity Ownership of CPA Firms
By Irene M. Walton
When private equity interests become a part of an accounting firm, the practical consequence is not only organizational change but also a change in professional exposure and liability coverage. This Liability Lessons column explains the new liability risks and what steps practitioners should take if part of an acquisition or merger.
Forensic Accounting
Utilizing Data Analytics to Investigate Ponzi Schemes
By Karyl Van Tassel, CPA, CFE, Danielle Wolford, CPA, CFE, and Ken Feinstein
The victims of Ponzi schemes are often enticed by the promise of low risk and high reward, but in reality the fraudsters are using funds from later investors to pay off early investors. When the scam inevitably collapses, forensic accountants are often called in to use data analytics and other forensic accounting tools to help investigators.
Personal Financial Planning
The OBBBA and the Intersection of Charitable Giving and Tax Planning
By Brian M. Balduzzi, JD, LLM (Taxation), IPA
The One Big Beautiful Bill Act (OBBBA) changed many provisions of the Internal Revenue Code as it relates to charitable deduction planning. The intersection of charitable giving and tax planning has never been more important as numerous provisions may impact the timing and other considerations of charitable giving.
