In modernizing the tax whistleblower statute over the last 12 years, Congress has finally created a simple and enforceable entitlement to substantial compensation for tax…
The State of the Profession
Analyzing the Results of the 2018 Practice Management Survey
In Brief The fourth annual NYSSCPA–Rosenberg Survey identifies trends from the national 20th Annual Practice Management Survey and provides a comparative qualitative analysis to participating…
Serving the Public as a CPA
It’s More Than Just Numbers
After reading the definition for “Certified Public Accountant,” one could easily walk away with the understanding that a CPA is a numbers cruncher, someone who…
It has been almost a year since the Tax Cuts and Jobs Act was signed into law. This complex legislation was the most significant change…
Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLP), making them owners of pass-through entities.…
The Tax Cuts and Jobs Act of 2017 (TCJA) did not make any major changes to the taxation of gains and losses from securities transactions.…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Input Sought on Complex Liabilities, Equity Accounting Guidance FASB wants to hear ideas from members of two advisory panels on how to sharpen…
On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (H.R. 1) designed to cut taxes on individuals and businesses, stimulate the economy,…
On December 20, 2017, Congress passed a major tax package (H.R. 1) designed to cut taxes on businesses and individuals, as well as to stimulate…
ICYMI | Finding the Right Tax Software
2018 Annual Survey of New York State Practitioners
In Brief New York tax practitioners encountered old and new challenges during the 2018 tax season, most notably with planning ahead for changes enacted by…
Quarterly Real U.S. GDP Growth The U.S. economy is coming off of its tax cut–induced bump. Estimates of 2019 GDP are coming down, as indicated…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Lies, Damned Lies, and Cost Accounting
How Capacity Management Enables Improved Cost and Cash Flow Management
By Reginald Tomas Lee, Sr. Business Expert Press, 2016, ISBN 978-1631570650, $34.95 (paperback) Reviewed by Ronald J. Baker One of the 20th century's most influential…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Investors Call for More Detailed Note Disclosure on Cash Taxes As FASB prepares to draw up a new slate of income tax disclosures,…
ICYMI | The Equifax Data Breach
What CPAs and Firms Need to Know Now
In the wake of the Equifax computer breach—in which key personal information of 145 million Americans was stolen—it may be correct to assume that anyone…
The 2018 Tax Software Survey reports that participating CPAs continue to use a variety of free online resources for tax research activities. Most respondents indicated…
Every year on October 15, clients send this author's firm information late into the afternoon, expecting the CPAs to finish their individual tax returns by…
In 2015, the Department of Labor issued an audit quality study, “Assessing the Quality of Employee Benefit Plan Audits,” which concluded that 39% of audits…
In 2018, public companies are expected to buy back $1 trillion of their stock. Current accounting rules provide no accounting to shareholders for the profit…
CPAJ News Briefs
FASB, IASB News
FASB News IAC to Offer Input on Segments, Disclosures FASB will hear input from its Investor Advisory Committee (IAC) on two early-stage projects that could…
One of the most amazing things that CPAs can do is give other people the tools they need to realize their goals. CPAs teach their…
Estate Planning after the Tax Cuts and Jobs Act
Opening the Dialogue
Many articles have been written about how the changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) will affect estate planning. These…
New Jersey Enacts Sales Tax Reforms
Taxing Remote Sellers and Marketplace Facilitators
On October 5, New Jersey Governor Phil Murphy signed sales tax legislation that significantly expands who is required to collect and remit New Jersey sales…
15 Questions Answered about Flood Damage
Using Insurance and Tax Deductions to Mitigate Losses
In Brief The 2018 hurricane season has already brought two devastating storms, with Hurricane Florence causing major flooding in the Carolinas and Hurricane Michael causing…
Listening to the Advice of Others
It’s Amazing What CPAs Can Do
At age 17, the probability of my becoming a CPA and creating a successful public accounting practice was similar to the probability of David slaying…
CPAJ News Briefs
FASB/PCAOB News
FASB News No New Guidance Planned for Financial Reporting Effects of Tax Reform Between guidance from the Big Four accounting firms, technical inquiries to FASB’s…
In Brief Recent years have seen governments experiment with different ways of encouraging entrepreneurs to launch new businesses, especially in new or growing industries. The…
Mortgage Amortization Revisited
An Alternative Methodology
Mortgage amortization methods and tables are well known to accountants, real estate professionals, and other financial professionals. CPAs learn how to develop and use mortgage…
When an individual receives a settlement or litigation award payment, the likely first question is whether the payment is taxable. While CPAs may know that…
Tax Software Survey for 2018
Tax Software Prices
The prices listed below are based on information found on the providers’ websites in September 2018. They have not been independently reviewed or verified, and…