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April 2018 Issue

Home /Magazine/April 2018 Issue
Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Donor Advised Funds

By  Ronald Ries, CPA, CGMA

May 2019 0

Most CPAs practicing in the not-for-profit sector understand what a donor advised fund (DAF) is and how it is used to benefit both donors, as…

Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Individual Charitable Giving

By  Mark A. Nickerson, CPA, CMA

May 2019 0

On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump. Numerous revisions to the tax code, most…

Featured

ICYMI | Tax Cuts and Jobs Act: Impact on Exempt Organization Employers and Employees

By  David Trimner, CPA, MST and Karen A. Gries, CPA

May 2019 0

Since President Donald Trump signed the Tax Cuts and Job Act (TCJA) on December 22, 2017, not-for-profit and tax-exempt organizations have been analyzing the impact…

Featured

ICYMI | A Valuable Opportunity to Improve Government Accounting—and Accountability

By  Bill Bergman and Sheila Weinberg, CPA

April 2019 0

Why have so many state and local governments accumulated massive debts, even as they claimed to balance their budgets every year? Political math. Wait, how…

News & Views

Tax & Accounting Update

By  Thomson Reuters Checkpoint

May 2018 0

Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…

News & Views

First Look at the Tax Cuts and Jobs Act

Impact on Estate Planning

By  Joy Matak, JD, LLM and Steven Dane, CPA, ABV

May 2018 0

The Tax Cuts and Jobs Act (TCJA) has doubled the amount that can be exempted from federal estate tax to $11.18 million per individual, effective…

Featured

Urgent Need for Governmental Accounting Education

New Generation Needed to Fill Retirements at Federal, State, and Local Agencies

By  Irfan Bora, CPA, CMA, GGFM

May 2018 0

The need for governmental accounting education has never been greater in the United States, as governments at the federal, state, and local levels face a…

World

Forté Capital’s Selected Statistics

By  CPAJ Staff

May 2018 0

GDP Fourth quarter U.S. GDP was revised up to 2.9%, completing a year that saw GDP grow at 2.3%. While the first quarter of 2018…

News & Views

First Look at the Tax Cuts and Jobs Act

Impact of the New 20% Pass-Through Deduction—Traps and Planning Opportunities

By  Norman Lencz, JD

May 2018 0

The new IRC section 199A, with its complex terms and limits, will be part of almost every tax preparer's life until at least 2026. The…

Featured

Accounting, Politics, and Public Pensions

By  Steven W. Thornburg, PhD, CPA and Kirsten M. Rosacker, PhD, CPA

May 2018 0

Defined benefit pension plans offer politicians a convenient way to satisfy public employee demands while providing the means to defer budgeted cash payments and hide…

Featured

First Look at the Tax Cuts and Jobs Act

Impact of ‘GILTI’ on International Taxpayers

By  Lisa Goldman, CPA, MST, TEP

May 2018 0

One of the central features of the Tax Cuts and Jobs Act of 2017 (TCJA) is its reformation of the U.S. system for taxation of…

News & Views

Governmental Accounting Resources

By  Susan B. Anders, PhD, CPA/CGMA

May 2018 0

Governmental accounting has a long history of development. Although the designation of specialized standards-setting bodies has been relatively recent, with the Governmental Accounting Standards Board…

Featured

Top Challenges Facing Not-For-Profit CFOs Today

Revisiting the Toughest Challenges

By  Amy West, CPA and Ronald Ries, CPA, CGMA

May 2018 0

In April 2017, the authors wrote “Top Challenges Facing Not-For-Profit CFOs Today.” The intent of the article was to affirm how complex and diverse the…

Featured

First Look at the Tax Cuts and Jobs Act: Impact on Donor Advised Funds

By  Ronald Ries, CPA, CGMA

May 2018 0

Most CPAs practicing in the not-for-profit sector understand what a donor advised fund (DAF) is and how it is used to benefit both donors, as…

Analysis

Retirement Plans for Employees of LLCs Owned by Tax-Exempt Entities

Implications of the IRS’s Chief Counsel Advice

By  Darlene Pulliam, PhD, CPA and Lisa Lightfoot, MPA

May 2018 0

Taxpayers conduct their operations via a variety of entities, including limited liability companies (LLCs). Even tax-exempt organizations are using the limited liability form to provide…

Columns

Retirement Plans Need an Advisor Acting in a Fiduciary Capacity

By  David Kane

May 2018 0

The Employee Retirement Income Security Act (ERISA) provides general standards of conduct for plan fiduciaries. A breach of fiduciary duty can result in personal liability…

Featured

Understanding the Community-Supported Business Model

A Primer for Tax Professionals

By  Claudia L. Kelley, PhD, CPA and C. Kevin Eller, PhD

May 2018 0

In Brief The community-supported business (CSB) model has enabled many people to preserve the economic vitality of their small business or start new business ventures.…

Featured

First Look at the Tax Cuts and Jobs Act

Impact on Individual Charitable Giving

By  Mark A. Nickerson, CPA, CMA

May 2018 0

On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump. Numerous revisions to the tax code, most…

Featured

Tax Abatements Under GASB Statement 77

Exploring the Effects of the New Disclosure Rules

By  B. Anthony Billings, PhD, Jeanette A. Boles, MST and Kyungjin (KJ) Kim, MST

May 2018 0

Many state and local governmental units have entered into agreements with business entities that offer tax incentives and tax breaks encouraging the companies to establish…

Columns

Written Supervisory Approval of IRS Penalties

When Must It Be Given, and Who May Give It?

By  Henry Stow Lovejoy, JD

May 2018 0

The Internal Revenue Code (IRC) imposes penalties on understatements of tax as a way to encourage voluntary compliance and deter noncompliant behavior. Generally, the revenue…

Featured

Control Issues in Charter Schools

An Examination of New York State Comptroller’s Audits

By  Ronald Huefner, PhD, CPA, CMA and Marie Blouin, PhD, CPA

April 2018 0

In Brief Charter schools are a controversial topic in education and politics because the public funding they receive makes them quasi-public organizations; thus, political groups,…

Featured

Investing in the Future of the Profession

By  Joanne S. Barry, CAE

April 2018 0

“Investment” can mean cultivating capital of many kinds—money, time, effort, energy—with the expectation of a positive result. As we approach the third annual Moynihan Scholarship…

Analysis

Using the New Reporting Requirements for Not-for-Profit Entities

By  Paul Copley, PhD, CPA and Loretta Manktelow, CPA

April 2018 0

In 2016, FASB issued ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, effective for fiscal years beginning after December 15, 2017. The standard is…

Columns

Reissuing an Audit Report on Comparative Financial Statements after an Auditor Change

By  Howard B. Levy, CPA

April 2018 0

The June 2017 installment of this column covered “Reporting on Restatement Adjustments after an Auditor Change” (http://bit.ly/2pQMClB). This installment expands on that theme, providing guidance…

Featured

Identifying Deficiencies in Single Audits

Preparing for the Audit Quality Study

By  David C. Ashenfarb, CPA, CGMA

April 2018 0

In Brief Under its Single Audit Quality Study, the Office of Management and Budget will soon be reviewing single audit engagements. To help auditors enhance…

Featured

A Valuable Opportunity to Improve Government Accounting—and Accountability

By  Bill Bergman and Sheila Weinberg, CPA

April 2018 0

Why have so many state and local governments accumulated massive debts, even as they claimed to balance their budgets every year? Political math. Wait, how…

Featured

First Look at the Tax Cuts and Jobs Act

Impact on Exempt Organization Employers and Employees

By  David Trimner, CPA, MST and Karen A. Gries, CPA

April 2018 0

Since President Donald Trump signed the Tax Cuts and Job Act (TCJA) on December 22, 2017, not-for-profit and tax-exempt organizations have been analyzing the impact…

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  • First Look at the Secure Act 2.0 January 2023
  • CPAJ News Briefs: FASB, IASB, AICPA January 2023
  • Toward Resolving IRS Staffing Shortages January 2023
  • Seven Ways to Decrease Stress at Work January 2023
  • Practice Management and Tax Practice in the Current Environment January 2023












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