The 2019 tax filing season was a missed opportunity for the CPA profession. This was the year to get ahead of the new tax laws…
Over the years, there has been much confusion about whether to treat certain types of transactions as contributions or as exchanges, especially when they involve…
To Audit or Not to Audit
Whether to Accept a Uniform Guidance Audit
For many public accounting firms, the client acquisition decision often follows a common cost-benefit analysis; beyond the consideration of additional revenue generated, scheduling constraints, opportunity…
Failure Study
A Needed Addition to the Accounting Toolkit
“Those who cannot remember the past are condemned to repeat it.” —George Santayana Public criticism of the accounting profession is intense. Users of financial statements…
Where The Money Is
Doing What’s Right for the Profession
Editor's note: This month, we introduce a new column dedicated to the current state of cybersecurity and how cybercrime affects CPAs and auditors. Each installment will…
In Brief The risk of fraud or noncompliance with rules and regulations is ever present in the current business and legal environment. Managing this risk…
Integrated reporting is gaining acceptance around the world as a way for businesses to provide investors and other stake-holders with a more holistic approach to…
EDITORS NOTE: This article is an edited and condensed transcript of Mr. Panucci's remarks at the conference. Three new commissioners were appointed in 2018, the…
About the Panelists The panel featured Brian Croteau, CPA, partner at PricewaterhouseCoopers; Kyle Owens, CPA, professional practice standards senior manager at Crowe LLP; and Phil…
New York State Decouples from Certain Federal Personal Income Tax Changes
An Overview of Key Changes
The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to personal income taxation. In response to the federal tax law changes made…
The panel featured Douglas Bloom, JD, director of the cybersecurity and privacy and financial crimes unit at PricewaterhouseCoopers; Chris Halterman, CPA, executive director of advisory…
U.S. v. Marc Berger
A Cautionary Tale for Return Preparers
On December 14, 2018, former CPA Marc Berger was sentenced to eight months in prison after a federal jury convicted him on three counts of…
In Brief The Tax Cuts and Jobs Act of 2017 (TCJA) is generally considered the most significant tax legislation since the Tax Reform Act of…
Real estate developers and investors need to address estate planning. This need is likely not urgent, as it is unlikely that a Democratic House and…
One of the objectives behind a progressive income tax structure is to achieve a redistribution of wealth by imposing higher taxes on those who earn…
In Brief One of the most discussed changes in the Tax Cuts and Jobs Act of 2017 is the pass-through entity deduction created by the…
Homeownership After the Tax Cuts and Jobs Act
Making the Most of the Mortgage Interest Deduction
In the aftermath of the Tax Cuts and Jobs Act of 2017 (TCJA), home buyers may be disappointed by the diminishment of tax benefits that…
The Taxation of Cryptocurrency
Virtual Transactions Bring Real-Life Tax Implications
Bitcoin and several rival forms of cryptocurrency experienced record-breaking growth in recent years, leaving many investors and their CPAs grappling with uncertainty and surprise during…
Examining the 2017–2018 Tax Law Changes
One Firm’s Before-and-After Comparison of Actual Taxpayers
The Tax Cuts and Jobs Act of 2017 (TCJA) introduced the most sweeping changes to the tax code in decades. It promised to put more…
A short time ago, my assistant Alex showed me a check one of my business clients wrote for $1,000. The memo portended a suspicious purpose:…
The 2018 CPA Journal Tax Software Survey (http://bit.ly/2FMb81K) reported that over 26% of participating CPAs integrated their tax software with office workflow or client data management software,…
The Wrong Way to Do the Right Thing
How to Prudently Deal with Employee Disability
Entrepreneurialism is alive and well, with thousands of upstarts becoming startups each year. The pattern is familiar: come up with a marketable idea, develop a…
Do you think about opening your own CPA practice and working for yourself instead of working for others? If so, you're not alone. While women…
One of the most challenging issues facing leaders in the public accounting profession is the high rate of employee turnover. A recent survey finds that…
The IRS Shutdown of SALT Deduction Workarounds
A Comparison of States
The Tax Cuts and Jobs Act of 2017 (TCJA) included a $10,000 cap on state and local tax (SALT) deductions. That cap has led New…
Improving the Advancement and Retention of Women CPAs
Fostering Gender Equality at One Accounting Firm
According to the 2017 CPA Firm Gender Study performed by the AICPA's Women's Initiatives Executive Committee (WIEC), women make up only 22% of partners in…
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…