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May 2019 Issue

Home /Magazine/May 2019 Issue
Featured

ICYMI—Financial Planning Challenges Facing Older Americans

How CPAs Can Help

By  Peter J. Strauss, JD, Louis W. Pierro, JD and Elizabeth Forspan, JD

June 2020 0

In Brief As the number of senior citizens in the United States continues to rise, CPAs and financial planners will be increasingly called upon to…

Featured

ICYMI—Tax-Efficient Investing

By  Sidney Kess, JD, LLM, CPA

June 2020 0

In Brief The tax impact on investment income can be mitigated through the transfer of assets into retirement accounts. Not all accounts and investments are…

Featured

Voices of the Profession: Video Interview with Mark Martinelli, Chief Audit Executive at Synchrony

By  CPAJ Staff

June 2019 0

Internal auditors are tasked with bringing objectivity to the assurance functions they perform within an enterprise. They are also increasingly called upon to provide a…

Featured

Family Office Resources

By  Susan B. Anders, PhD, CPA/CGMA

June 2019 0

A growing area of expertise among CPAs is the addition of family office financial planning and management to their practices. Family office services may include…

Featured

Tax & Accounting Update

By  Thomson Reuters Checkpoint

June 2019 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…

Featured

Forté Capital’s Selected Statistics

By  CPAJ Staff

June 2019 0

Quarterly Real U.S. GDP Growth First quarter Gross Domestic Product, released on April 26, rose 3.2% versus estimates that averaged approximately 2.5%. The higher-than-expected increase…

Featured

Earning Real Income from Fantasy Sports

Tax Opportunities and Pitfalls under the TCJA

By  Andrew D. Gross, PhD, CPA, Jamie Hoelscher, PhD, CFE, CIA, Marc Ortegren, PhD and William E. Maas, JD, CPA

June 2019 0

According to the Fantasy Sports Trade Association (FSTA), fantasy sports is a $7 billion industry, with 59.3 million people in the United States and Canada…

Featured

Outsourced Finance and Accounting Services Can Be a Growth Area

By  Rebecca Pomering and Larry Kammerer, CPA

June 2019 0

Outsourced finance and accounting is one of the fastest growing areas for CPA firms and one of the leading values firms can offer their clients.…

Featured

TCJA Clarifies Wagering Loss Deduction Rules

By  Eric Zilber, CPA, John W. McKinley, JD, LLM, CPA, CGMA and Matthew Geiszler, PhD

June 2019 0

The Tax Cuts and Jobs Act of 2017 (TCJA) will have broad-ranging effects on all kinds of individuals. Taxpayers with a personal connection to gambling…

Featured

The Changing Regulatory Climate on Privacy

What CPAs Need to Know about 23 NYCRR 500 and the CCPA

By  Steven Wertheim

June 2019 0

Over the last two years, the states of California and New York issued new regulations regarding data privacy and cybersecurity. Both rules will have far…

Featured

ICYMI—Financial Planning Using Qualified Opportunity Zones

The Integration of Estate Tax and Income Tax Planning Is Now Complete

By  Kevin Matz, JD, CPA, LLM

June 2019 0

In Brief The Tax Cuts and Jobs Act of 2017 expanded the federal estate, gift, and generation-skipping transfer tax exemption amounts, dramatically changing the landscape…

Featured

Financial Planning Using Qualified Opportunity Zones

The Integration of Estate Tax and Income Tax Planning Is Now Complete

By  Kevin Matz, JD, CPA, LLM

June 2019 0

In Brief The Tax Cuts and Jobs Act of 2017 expanded the federal estate, gift, and generation-skipping transfer tax exemption amounts, dramatically changing the landscape…

Featured

Reviewing Contracts with Customers

How CPAs Can Advise Business Owners

By  Alan Gassman, JD, LLM and Martin Shenkman, JD, CPA/PFS, AEP

June 2019 0

CPAs do not review contracts or practice law, but if they fail to pose common sense legal questions to their business clients, those clients may…

Featured

Using Ratio Analysis to Manage Not-for-Profit Organizations

By  Kaitlin Cashwell, Paul Copley, PhD, CPA and Michael Dugan, DBA

June 2019 0

Thousands of CPAs work in the not-for-profit sector, and thousands more volunteer as members of the governing boards of not-for-profit organizations. There is little in…

Featured

Changing the State and Local Tax Nexus Playing Fields

An Update on the Impact of Wayfair

By  Corey L. Rosenthal, JD, Scott Smith and Wendy Galex, JD, LLM

June 2019 0

One of the major state and local tax developments that CPAs have been dealing with is the Supreme Court's decision on June 21, 2018, in South…

Featured

Understanding the Duties of a Trustee in Administering a Trust

By  Sidney Kess, JD, LLM, CPA and Edward Mendlowitz, CPA/PFS, ABV

June 2019 0

In Brief Trusts enable individuals to ensure the financial health of loved ones long after they are gone, but only if they are properly set…

Featured

Voices of the Profession: Video Interview with Stavros Thomadakis, IESBA Chair

By  CPAJ Staff

May 2019 0

Given the recent spate of financial and accounting scandals, greater attention has been placed on the importance of strong ethical behavior on the part of…

Featured

How the New Ethics Code Will Affect Your Standards

An Interview with Stavros Thomadakis, IESBA Chair

By  CPAJ Staff

May 2019 0

Given the recent spate of financial and accounting scandals, greater attention has been placed on the importance of strong ethical behavior on the part of…

Featured

Sweet (and Sour) Charity

Examining the Deductibility of Unreimbursed Charitable Expenditures

By  Stephanie F. Watson, PhD, CPA, Michael Casey, DBA and Randall B. Bunker, PhD

May 2019 0

Taxpayers who give to charitable organizations may be rewarded by a reduction in the amount of federal and state income taxes they pay. Some charitable…

Featured

Could the Tax Cuts and Jobs Act Mean More State Income Tax Audits?

By  Michael Sardar, JD

May 2019 0

The Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, delivered sweeping changes to the federal tax code. These changes brought…

Featured

Financial Planning Challenges Facing Older Americans

How CPAs Can Help

By  Peter J. Strauss, JD, Louis W. Pierro, JD and Elizabeth Forspan, JD

May 2019 0

In Brief As the number of senior citizens in the United States continues to rise, CPAs and financial planners will be increasingly called upon to…

Featured

A True Portrait of America’s Finances

Analyzing the Federal Government’s Fiscal Year 2018 Financial Statements

By  Bill Bergman

May 2019 0

In late March, the U.S. Department of the Treasury issued the fiscal year 2018 financial report for the U.S. government. The report had some bad…

Featured

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

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

May 2019 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…

Featured

Mastering Fiduciary Activity Reporting For Governments

An Explanation of GASB Statement 84

By  Craig D. Shoulders, PhD and Joseph P. Lakatos, JD, LLM, CPA, CFE

May 2019 0

In Brief GASB recently updated its guidance on the reporting of assets held by governments in a fiduciary capacity. While the clarification on how to…

Featured

Tax-Efficient Investing

By  Sidney Kess, JD, LLM, CPA

May 2019 0

In Brief The tax impact on investment income can be mitigated through the transfer of assets into retirement accounts. Not all accounts and investments are…

Featured

Evaluating the Financial Planning Services Business Model

Is It the Right Time to Start a Planning Practice?

By  Sidney Kess, JD, LLM, CPA and Edward Mendlowitz, CPA/PFS, ABV

May 2019 0

Financial planning is a generic term for all of the services that CPAs perform that deal with a client's individual wealth. It is also a…

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Our Latest Content

  • 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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