Latest Articles
  • First Look at the Secure Act 2.0
  • CPAJ News Briefs: FASB, IASB, AICPA
  • Toward Resolving IRS Staffing Shortages
  • Seven Ways to Decrease Stress at Work
  • Practice Management and Tax Practice in the Current Environment
  • Tax Changes in the Inflation Reduction Act of 2022
  • Adapting to an Ever-Changing World
  • CPAJ News Briefs: FASB, GASB
  • Issues in Measuring and Reporting Diversity
  • State of the Profession
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
The CPA Journal - The Voice of the Profession The CPA Journal - The Voice of the Profession

  • Home
  • COVID-19
  • Current Issue
  • Categories
    • Feature Articles
    • Columns
    • News & Views
    • Publisher’s Column
    • Web Exclusive
    • Videos & Media
    • Diversity & Inclusion
    • Sustainability
    • Bitcoin & Blockchain
  • Archives
    • Past Issues
    • Sept/October 2022
    • July/August 2022
    • May/June 2022
    • March/April 2022
    • January/February 2022
    • December 2021
    • October/November 2021
    • August/September 2021
    • June/July 2021
    • April/May 2021
    • Feb/Mar 2021
  • About Us
    • About The CPA Journal
    • Write For Us
      • Submission Guidelines
      • Editorial Calendar
      • The CPA Journal Editorial Team
    • Subscribe to the Print Edition
    • Subscribe to our Daily Newsletter
  • Advertise
    • Advertise With Us
    • Classifieds
    • Classifieds Media Kit

October 2016 Issue

Home /Magazine/October 2016 Issue
Letters to the Editor

The Materiality Mystery

By  John A. Demetrius, CPA, CGFM

October 2016 0

Congratulations to Howard Levy and Julian Jacoby on such a well-written and timely article in the July issue of The CPA Journal (“The Materiality Mystery:…

News & Views

Forté Capital’s Selected Statistics

By  CPAJ Staff

October 2016 0

N.Y. Empire State Manufacturing The Empire State Manufacturing Survey's general business conditions index remained below its neutral threshold for a second consecutive month, coming in…

News & Views

Tax & Accounting Update

By  CPAJ Staff

October 2016 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

Free State Tax Update Resources

By  Susan B. Anders, PhD, CPA/CGMA

October 2016 0

State and local taxes (SALT) is an important practice area for many CPAs, as well as a significant decision factor for many companies. SALT professionals…

Succession Woes? Generation X May Be the Cure Publisher's Column

Putting Your Practice Issues on Our Advocacy Agenda

By  Joanne S. Barry, CAE

October 2016 0

The NYSSCPA Board of Directors voted at its September meeting to set the Society's legislative agenda. The Society Government Relations staff will now use this…

Analysis

To Reset or Not to Reset AAA?

A Tricky Question for Newly Reelected S Corporations

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

October 2016 0

In 2014, the IRS's Office of Chief Counsel (OCC) addressed what happens to a taxpayer's beginning accumulated adjustments account (AAA) if a prior S corporation…

Analysis

Apportioning Income from Sales of Services

The Rules Have Changed

By  Michael S. Schadewald, PhD, CPA

October 2016 0

When calculating corporate franchise or income taxes, most states use apportionment formulas that weight the sales factor more heavily than property or payroll factors. Consequently,…

Analysis

Delaware and the Passive Investment Company

Surveying the State Tax Planning Landscape

By  Bradley P. Lindsey, PhD, CPA, Jacob R. Thornock, PhD and Scott D. Dyreng, PhD

October 2016 0

Facing budget deficits and shrinking corporate tax revenues, government officials from the United States and other foreign countries are closely monitoring the Organization for Economic…

Columns

ERP | Valuation Discounts under IRC Section 2704

Take Action on the Proposed Regulations Now

By  Martin Shenkman, JD, CPA/PFS, AEP

October 2016 0

There has been a deluge of articles analyzing the proposed Treasury Regulations under Internal Revenue Code (IRC) section 2704, which, if finalized in anything like…

Columns

MYP | Out with the Old

Paradigm Shifts that Are Changing the Accounting Profession

By  Jason L. Ackerman, CPA, CFP, CGMA

October 2016 0

Editor's Note: This month marks the introduction of a new column, Managing Your Practice, that will bring a fresh perspective on traditional and emerging management…

Columns

PFP | Preparing for a Spouse’s Death from a Financial Perspective

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

October 2016 0

No one likes to think about death, especially of a loved one, but the failure to prepare for it can be self-defeating. Preparation creates emotional…

Columns

TFA | Tax Planning for Unmarried Couples

By  James R. Grimaldi, CPA, James A.J. Revels, CPA and Sidney Kess, JD, LLM, CPA

October 2016 0

Census data shows that approximately 12% of all couples living together are unmarried, up from barely 1% 50 years ago. Unmarried couples can be of…

Columns

SLT | NY’s New Investment Capital and Income Rules

By  Corey L. Rosenthal, JD and Arvinder Kaur, CPA

October 2016 0

New York State's recent corporate tax reform resulted in many changes to its statutes and regulations, including some significant changes to the investment capital and…

Columns

TPP | Civil Penalties for Willful Violations of FBAR Requirements

Will the Fifth Circuit Clarify the IRS’s Burden of Proof?

By  Caroline Rule, JD

October 2016 0

District courts and other authorities disagree on whether the IRS must prove willfulness by a preponderance of the evidence or by clear and convincing evidence…

News & Views

Partnership Abandonment

Why It Still Works and What to Watch Out For

By  Ryan C. Sheppard, CPA, CFF

October 2016 0

Consider the following scenario: an individual has entered into a limited partnership that he knows is going bad, and he believes his investment will not…

News & Views

Fighting Fraud—and Serving Famous Frankfurters—for Over a Century

The Story of Old-Fashioned Controls at Nathan’s Famous

By  Howard B. Levy, CPA

October 2016 0

One hundred years ago, an enterprising, bright, savvy, but uneducated young Polish immigrant started a modest business that would eventually grow to become one of…

Feature Articles

Tax Aspects of Investing in REITs and REMICs

The Essentials and Recent Developments

By  Elizabeth Gurvits

October 2016 0

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…

Feature Articles

Selecting a Qualified Intermediary for a Like-Kind Exchange

By  Richard Ray, PhD, CPA and Nicholas C. Lynch, PhD

October 2016 0

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…

Feature Articles

How the Loss Limitation Rules Impact Deductibility for Taxpayers

By  Ray A. Knight, JD, CPA, PFS, CGMA and Lee G. Knight, PhD

October 2016 0

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…

Feature Articles

The Defrauded Investor’s Solace

The IRC Section 165 Theft Loss Deduction and Safe Harbor

By  Melanie E. Migliaccio, JD

October 2016 0

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…

October 2016 Issue

In this Issue: October 2016

By  CPAJ Staff

October 2016 0

Our focus this month is on taxes, and our features and departments cover a wide array of unique and unusual circumstances. Going beyond the bread-and-butter…

Subscribe to The CPA Journal’s Free Newsletter

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












About The CPA Journal

The CPA Journal is a publication of the New York State Society of CPAs, and is internationally recognized as an outstanding, technical-refereed publication for accounting practitioners, educators, and other financial professionals all over the globe. Edited by CPAs for CPAs, it aims to provide accounting and other financial professionals with the information and analysis they need to succeed in today’s business environment.

Contact Us

The CPA Journal
14 Wall St. 19th Floor
New York, NY 10005
CPAJ-Editors@nysscpa.org

Our Partners

Thomson Reuters Checkpoint
SmartBrief

Subscribe to The CPA Journal’s Free Newsletter

Privacy Policy

View the NYSSCPA privacy policy

© 2022 The New York State Society of CPAs. All rights reserved.