This panel discussed the pros and cons of declaring bankruptcy versus entering into an offer in compromise (OIC) when confronted with a large tax debt.…
At this panel, the group discussed how to deal with a lack of sufficient information from a client, including how to obtain or deduce that…
Preparer Penalties
Everything You Need to Know
Another panel at the 2016 IRS Representation Conference discussed the penalties levied against preparers who violate the ethics rules and fraud statutes. Topics included civil…
Gift Tax Returns & IRS Examination
Challenges and Pitfalls for Practitioners
At the 2016 IRS Representation Conference, one panel covered gift tax returns and the dangers they pose to unwary CPAs and taxpayers. Using a sample…
One of the panels conducted at the 2016 IRS Representation Conference concerned the myriad issues confronting CPAs whose clients have simply not filed their tax…
Federal Tax Preparation Issues and Insights
Highlights of the IRS Representation Conference
On November 17 and 18, the NYSSCPA co-sponsored the Third Annual IRS Representation Conference. The event covered a wide range of issues—from the routine to…
The Great CPA Followership Crisis
Learning to Grow Again through Shared Purpose, Quality, and Language
In Brief CPA firms are facing a succession crisis that endangers growth and profitability. The historical model of organic growth that relies on relationship management…
The State of the Profession
Analyzing the Results of the 2016 Practice Management Survey
In Brief The second annual NYSSCPA–Rosenberg Survey identifies trends from the national 18th Annual 2016 Practice Management Survey and provides a comparative qualitative analysis to…
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…
Tax Aspects of Investing in REITs and REMICs
The Essentials and Recent Developments
In Brief Real estate is an evergreen investment vehicle, but few investors are willing to confront the high risk of trading in real property. Real…
In Brief Under Internal Revenue Code (IRC) section 1031, direct swaps can be difficult to accomplish because the parties may not each have something the…
In Brief Taxpayers generally think of a business loss as an immediate tax deduction, but the tax code is not quite so simple. Individual circumstances—such…
The Defrauded Investor’s Solace
The IRC Section 165 Theft Loss Deduction and Safe Harbor
In Brief Awareness of Ponzi schemes and other fraudulent investment arrangements has skyrocketed following the Bernie Madoff case and other similar prosecutions. IRC section 165…
In Brief America is currently undergoing the largest wealth transfer in its history, as Baby Boomers begin to enter retirement and make provisions for their…
In Brief While most individuals probably think their insurance covers them for every conceivable occurrence, many policies have numerous gaps in coverage. Excess liability coverage…
In Brief CPAs have a tremendous responsibility to provide individuals with timely and accurate information, especially in the realm of life insurance and estate planning.…
In Brief Buying or selling a home is one of the most significant financial transactions many individuals engage in. The authors examine the various ways…
Tax and Financial Retirement Strategies
2016 Max Block Award Honorable Mention in the Area of In Focus/Feature
In Brief With the Baby Boom generation facing retirement, America may soon witness the largest wealth transfer from one generation to another in its history.…
Post–Public Accounting Careers
How Retiring CPAs Can Become College Instructors
In Brief The current shortage of accounting faculty at many colleges and universities has created an increasing number of opportunities for CPAs seeking to retire…
Adjunct Teaching Opportunities for CPAs
A Part-Time Path for Those Considering a Move to Academia
In Brief Adjunct faculty positions are a good way for professionals to begin a career in academia. The opportunities for CPAs to teach at this…
Making the Jump from Accounting Practice to Academia
Considerations for the Transition to a PhD Program
In Brief Many CPAs who work in public practice and corporate accounting harbor the idea of returning to college to share their professional experiences and…
The State of FASB’s Simplification Initiative
Toward a Simpler GAAP
In Brief In recent years, FASB has made a priority of removing unnecessary complexity from FASB's accounting standards. The author gives a detailed accounting of…
The fourth panel of the 15th Annual Financial Reporting Conference assessed the status of recognition and impairment of financial instruments in light of FASB's new…
The third panel of the 15th Annual Financial Reporting Conference covered recent financial reporting developments in the private sector. Topics included the new revenue recognition…
Transforming the PCAOB’s Agenda
Keynote Address
Reliable financial reporting and high quality auditing is very important; it's critical to investor protection, critical to trust in our system, and critical to the…
Accounting for Leases
The New Standard
The second panel of the 15th Annual Financial Reporting Conference covered FASB's new standard on accounting for leases. The standard, which is 500 pages long,…
Transition Issues, Non-GAAP Measures, and Disclosures
Opening Remarks from the SEC and FASB
Wesley Bricker Deputy Chief Accountant, SEC Credible, reliable, and useful financial reporting for investors requires not only high-quality accounting and auditing standards, but also robust…
Making Financial Reporting More Responsive to Users’ Needs
Highlights from the 15th Annual Baruch College Financial Reporting Conference
Every year, Baruch College's Annual Financial Reporting Conference brings together leading representatives of the regulatory, standards setting, and user communities. The 15th conference, held on…
The third panel of the First Annual Sustainability Investment Leadership Conference addressed how investors judge sustainability information when assessing a company's value. The conversation also…