One of the functions of a CPA financial planner is to help individuals formulate an investment plan based on their long-term goals. One of the…
An individual who lives outside of New York and maintains a home, apartment, or room in New York that is usable all year may be…
AUD | Searching for Buried Treasure
The Elusive Completeness Assertion for Revenue
Editor's Note: This month marks the introduction of a new column, Auditing, that will feature column editor Howard B. Levy's incisive take on selected issues…
CPAs can be forgiven for thinking there are more standards, and standards setters, to follow than ever before. The recent proliferation has come at the…
When Reckless Executives Become Dangerous Fraudsters: Reward Structures and Auditing Procedures Need to Be Reformed to Deter ‘Dark Triad’ Personalities
2016 Max Block Award Winner: Outstanding Article in the Area of News & Views/Opinion
At its foundations, auditing is about verifying the assertions that find expression through the numbers presented in the financial statements, performed by well-qualified, competent, and…
The Small Business Administration’s Hurricane Sandy Disaster Loan Program
Now Re-Open for Business
In Brief Hurricane Sandy was one of the most devastating natural disasters in U.S. history, and many businesses have still not recovered. Many affected business…
Top Choices in Tax Software
2016 Annual Survey of New York State Practitioners
In Brief New York State CPAs faced significant challenges during the 2016 tax season, but maintained their focus on serving their clients. Tax preparation and…
This month's cover story is our annual survey of tax preparation and research software. This marks the 15th year this survey of New York tax…
The Ethical State of the CPA Profession
An Interview with Tony Menendez and Steven Mintz
Editors’ Note: The debate over the ethical responsibilities of CPAs and how to fulfill them has always been at the center of the profession. Recently,…
Voices of the Profession: When Standards Aren’t So Standard
A Discussion with Nicholas J. Mastracchio
CPAs can be forgiven for thinking there are more standards, and standards setters, to follow than ever before. The recent proliferation has come at the…
All right. Well, take care yourself. I guess that’s what you’re best, presence old master? A tremor in the Force. The last time felt it…
All right. Well, take care yourself. I guess that’s what you’re best, presence old master? A tremor in the Force. The last time felt it…
All right. Well, take care yourself. I guess that’s what you’re best, presence old master? A tremor in the Force. The last time felt it…
All right. Well, take care yourself. I guess that’s what you’re best, presence old master? A tremor in the Force. The last time felt it…
Congratulations to Howard Levy and Julian Jacoby on such a well-written and timely article in the July issue of The CPA Journal (“The Materiality Mystery:…
N.Y. Empire State Manufacturing The Empire State Manufacturing Survey's general business conditions index remained below its neutral threshold for a second consecutive month, coming in…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
State and local taxes (SALT) is an important practice area for many CPAs, as well as a significant decision factor for many companies. SALT professionals…
The NYSSCPA Board of Directors voted at its September meeting to set the Society's legislative agenda. The Society Government Relations staff will now use this…
To Reset or Not to Reset AAA?
A Tricky Question for Newly Reelected S Corporations
In 2014, the IRS's Office of Chief Counsel (OCC) addressed what happens to a taxpayer's beginning accumulated adjustments account (AAA) if a prior S corporation…
Apportioning Income from Sales of Services
The Rules Have Changed
When calculating corporate franchise or income taxes, most states use apportionment formulas that weight the sales factor more heavily than property or payroll factors. Consequently,…
Delaware and the Passive Investment Company
Surveying the State Tax Planning Landscape
Facing budget deficits and shrinking corporate tax revenues, government officials from the United States and other foreign countries are closely monitoring the Organization for Economic…
ERP | Valuation Discounts under IRC Section 2704
Take Action on the Proposed Regulations Now
There has been a deluge of articles analyzing the proposed Treasury Regulations under Internal Revenue Code (IRC) section 2704, which, if finalized in anything like…
MYP | Out with the Old
Paradigm Shifts that Are Changing the Accounting Profession
Editor's Note: This month marks the introduction of a new column, Managing Your Practice, that will bring a fresh perspective on traditional and emerging management…
No one likes to think about death, especially of a loved one, but the failure to prepare for it can be self-defeating. Preparation creates emotional…
Census data shows that approximately 12% of all couples living together are unmarried, up from barely 1% 50 years ago. Unmarried couples can be of…
New York State's recent corporate tax reform resulted in many changes to its statutes and regulations, including some significant changes to the investment capital and…
TPP | Civil Penalties for Willful Violations of FBAR Requirements
Will the Fifth Circuit Clarify the IRS’s Burden of Proof?
District courts and other authorities disagree on whether the IRS must prove willfulness by a preponderance of the evidence or by clear and convincing evidence…
Partnership Abandonment
Why It Still Works and What to Watch Out For
Consider the following scenario: an individual has entered into a limited partnership that he knows is going bad, and he believes his investment will not…
Fighting Fraud—and Serving Famous Frankfurters—for Over a Century
The Story of Old-Fashioned Controls at Nathan’s Famous
One hundred years ago, an enterprising, bright, savvy, but uneducated young Polish immigrant started a modest business that would eventually grow to become one of…