Identify, protect, detect, respond, and recover: these words will be familiar to everyone who has attended a cyber-security-related update presentation at their organization, discussed cybersecurity…
In Brief Social Security remains a critical component of most Americans' financial and retirement plans. Despite its longevity and familiarity, many individuals are unaware of…
A focus on sustainability in academia seems to go a long way in helping younger students overcome the stereotype of isolated accountants crunching numbers. Students…
Major changes to estate and gift taxes are periodically a topic of discussion in Congress and the popular press. The Tax Cuts and Job Act…
Controlled Foreign Corporation Stock Loss in Disaster Area Disallowed
IRS Chief Counsel Limits Deductibility
In Chief Counsel Advice Memorandum 202325007 (https://www.irs.gov/pub/irs-wd/202325007.pdf, Mar. 22, 2023), legal staff within the IRS determined that a worthless stock loss did not occur within…
Talking about Diversity, Equity and Inclusion (DEI) in the accounting space has always been a politically charged affair. It is an area I am passionate…
2025 Planning Should Begin Before the End of 2024
The Step Transaction Doctrine Can Undermine Last-Minute Plans
Planning for 2025 is becoming a hotter topic as the scheduled halving of the transfer tax exemption draws closer. But while many are focusing on…
Terminally ill individuals often desire to benefit the people and institutions they love by means of actionable and effective tax planning, even in the final…
Recently I wrote a short piece concluding that audit opinions still matter. I drafted this essay within the judicial context of a class action lawsuit,…
‘Double Dip’ Dilemmas
The Rise and Risks of Tax-Based Fixed Indemnity Plans
To reduce unnecessary costs, businesses strive to minimize their tax liabilities. Employment taxes, particularly the employer's share of Social Security and Medicare taxes under FICA,…
I read with interest the article titled “The Fraud Diamond: A 20-Year Retrospective” in the March/April 2024 CPA Journal. I also remember reading the original…
By Edward Mendlowitz, ISBN 979-83424364090. Self-published. Paperback, $24.95 on Amazon Reviewed by Yigal M. Rechtman The first thing to know about this book is that…
Major changes to estate and gift taxes are periodically a topic of discussion in Congress and the popular press. The Tax Cuts and Job Act…
The Updated NIST Cybersecurity Framework
Tools and Governance
Identify, protect, detect, respond, and recover: these words will be familiar to everyone who has attended a cyber-security-related update presentation at their organization, discussed cybersecurity…
Talking about Diversity, Equity and Inclusion (DEI) in the accounting space has always been a politically charged affair. It is an area I am passionate…
A focus on sustainability in academia seems to go a long way in helping younger students overcome the stereotype of isolated accountants crunching numbers. Students…
On December 22, 2023, New York Governor Kathy Hochul signed the LLC Transparency Act as Chapter 772 of the Laws of 2023. The act is…
A Primer on Rolling Equity
Keeping a Client’s Books in Agreement with its Tax Returns
When staff members at a CPA firm are handed a tax return and informed they must “roll equity,” the two simple words induce panic and…
2025 Planning Should Begin Before the End of 2024
The Step Transaction Doctrine Can Undermine Last-Minute Plans
Planning for 2025 is becoming a hotter topic as the scheduled halving of the transfer tax exemption draws closer. But while many are focusing on…
Navigating the Crossover in Tax Standards for Licensed Tax Practitioners in New York State
Part 1: An Examination of the Tax Standards
In Brief CPAs are distinguished by being subject to high professional standards. But what happens when professional standards overlap, or even conflict with, federal and…
A common way for individuals to save for college is through the use of state-administered IRC section 529 plans or what the tax code refers…
Terminally ill individuals often desire to benefit the people and institutions they love by means of actionable and effective tax planning, even in the final…
Shift Towards Single Sales Factor and Market-Based Sourcing
Recent Changes in Massachusetts, Tennessee, New Jersey, and Vermont
The field of state and local taxation is a constantly evolving area. Not only are rules becoming more complex, but the state's ability also to…
About the Speaker PCAOB chair Erica Y. Williams attended the conference for a “fireside chat” during the luncheon keynote. Williams was sworn in as the…
Recently I wrote a short piece concluding that audit opinions still matter. I drafted this essay within the judicial context of a class action lawsuit,…
As the CEO of the New York State Society of CPAs, I find myself continually inspired by the dynamic and ever-evolving landscape of our profession.…
In Brief Social Security remains a critical component of most Americans' financial and retirement plans. Despite its longevity and familiarity, many individuals are unaware of…
‘Double Dip’ Dilemmas
The Rise and Risks of Tax-Based Fixed Indemnity Plans
To reduce unnecessary costs, businesses strive to minimize their tax liabilities. Employment taxes, particularly the employer's share of Social Security and Medicare taxes under FICA,…
Opening Remarks
A Conversation with Paul Munter and Richard Jones
About the Speakers Paul Munter is the chief accountant in the SEC's Office of the Chief Accountant (OCA). He oversees the SEC's work on financial…
Financial Reporting Today
Highlights from the 22d Annual Baruch College Financial Reporting Conference
The 22d Annual Financial Reporting Conference was held at Baruch College, City University of New York, on May 2, 2024. The longstanding conference brought together…