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October 2018 Issue

Home /Magazine/October 2018 Issue
Featured

ICYMI | Maintaining Auditor Independence When Giving Accounting Assistance and Advice

By  Howard B. Levy, CPA

March 2019 0

Auditors serving smaller businesses know that those clients often need help navigating the highly technical and overwhelming body of accounting standards. They also know that…

October 2018 Issue

ICYMI | The Tax Cuts and Jobs Act: QBI Deduction Issues for Professionals

By  Sidney Kess, JD, LLM, CPA

December 2018 0

Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLP), making them owners of pass-through entities.…

October 2018 Issue

ICYMI | The Tax Cuts and Jobs Act: Changes for Securities Investors

By  Sidney Kess, JD, LLM, CPA

December 2018 0

The Tax Cuts and Jobs Act of 2017 (TCJA) did not make any major changes to the taxation of gains and losses from securities transactions.…

Featured

Forté Capital’s Selected Statistics

By  CPAJ Staff

November 2018 0

Wages Real wages—that is, wages adjusted for inflation—have resumed rising after a dip in 2016. This trend reflects tight labor market conditions and increased inflationary…

Featured

Tax & Accounting Update

By  Thomson Reuters Checkpoint

November 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…

Publisher's Column: Have You Thanked an NYSSCPA Committee Member Today? News & Views

The Responsibilities of Audit Committees

By  Dennis R. Beresford, CPA and Arthur J. Radin, CPA

November 2018 0

In the August 2018 article, “Are Audit Committees Worth the Cost?” (http://bit.ly/2pkOuCA), Arthur Radin suggests that audit committees be eliminated. Unfortunately, the article focuses entirely…

Featured

IRA Planning at Every Age

By  David M. Barral, CPA/PFS, CFP

November 2018 0

Retirement planning may be critical at older ages, but it is just as important at younger ages as well. CPAs have the opportunity to review…

Featured

State and Local Tax Resources

By  Susan B. Anders, PhD, CPA/CGMA

November 2018 0

Two major state and local tax (SALT) issues on the minds of tax professionals and taxpayers are the Tax Cuts and Jobs Act's (TCJA) changes…

Featured

Tax and Financial Aspects of Casualty and Disaster Losses under the Tax Cuts and Jobs Act

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

November 2018 0

Individual and business taxpayers may experience financial losses resulting from sudden damage or destruction to their property. Physical loss due to fire, windstorms, hurricanes, and…

Featured

Consolidated Group Tax Allocation Agreements

How to Handle Tax Attribute Carryovers

By  Michele Frank, PhD and Charles A. Lenns, JD, CPA

October 2018 0

In Brief When several corporations are consolidated into one large group, the parent company deals directly with the IRS, paying the tax liabilities for the…

Featured

Paying for Higher Education under the Tax Cuts and Jobs Act

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

October 2018 0

For most students, the price of higher education is steep and getting steeper. Annual increases in the cost of higher education have consistently outpaced the…

Featured

Sales Tax Holidays

Not Always Pain Free

By  Christopher Jones and Yuyun A. Sejati, PhD

October 2018 0

Even experienced tax professionals find it nearly impossible to stay on top of the plethora of sales tax holidays, which occur in some states, on…

Featured

Tax Effecting and the Valuation of Pass-Through Entities

Considering the Impact of the Tax Cuts and Jobs Act

By  Daniel Tinkelman, PhD, CPA

October 2018 0

In Brief One of the key elements of the Tax Cuts and Jobs Act of 2017 is its lowering of corporate tax rates. As a…

Feature Articles

FBAR Filing for Non-U.S. Citizens

By  Wilda Lin, JD, LLM

October 2018 0

Reports of Foreign Financial and Bank Accounts (FBAR) have gained prominence since the Department of Justice began investigating the accounts of Swiss banks, starting with…

Featured

Understanding the IRS’s Seven New Casualty Loss Safe Harbors

Disaster Recovery after the Tax Cuts and Jobs Act

By  Ramon Fernandez, CPA and Mark A. Turner, DBA, CPA, CMA

October 2018 0

In Brief Losses from natural disasters are generally tax deductible, but taking the deduction requires properly valuing the amount of the loss. The IRS recently…

Featured

Deep Dive on the Tax Cuts and Jobs Act

Changes for Securities Investors

By  Sidney Kess, JD, LLM, CPA

October 2018 0

The Tax Cuts and Jobs Act of 2017 (TCJA) did not make any major changes to the taxation of gains and losses from securities transactions.…

Featured

Unexpected Inequities in an Environment of Declining Tax Rates

Considerations in Using the IRC Section 1341 Credit

By  Linda Burilovich, PhD, CPA and William LaGore, PhD, CPA

October 2018 0

In Brief Declining tax rates—such as those ushered in by the Tax Cuts and Jobs Act—can come with hidden consequences. Taxpayers who are required to…

Featured

Maintaining Auditor Independence When Giving Accounting Assistance and Advice

By  Howard B. Levy, CPA

October 2018 0

Auditors serving smaller businesses know that those clients often need help navigating the highly technical and overwhelming body of accounting standards. They also know that…

Featured

Twenty Questions about Planning for Medicaid and Nursing Home Care

By  Peter Karl

October 2018 0

In Brief For elderly individuals entering into nursing care, financial assistance through Medicaid can defray the often significant costs. But Medicaid has stringent needs based…

Feature Articles

Deep Dive on the Tax Cuts and Jobs Act

QBI Deduction Issues for Professionals

By  Sidney Kess, JD, LLM, CPA

October 2018 0

Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLP), making them owners of pass-through entities.…

Featured

Getting Married

A Tax Perspective Under the Tax Cuts and Jobs Act

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

October 2018 0

More than 2.1 million couples get married in the United States each year (http://www.cdc.gov/nchs/nvss/marriage_divorce_tables.htm). Few probably give any thought to the tax implications of their…

Featured

Getting Divorced

A Tax Perspective under the Tax Cuts and Jobs Act

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

October 2018 0

Despite the best of intentions when couples say, “I do,” more than a few will find themselves eventually saying, “I don't.” Aside from the emotional…

Feature Articles

Selling and (Perhaps) Buying a Home under the Tax Cuts and Jobs Act

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

October 2018 0

Buying or selling a home is one of the most significant financial transactions many individuals engage in. The authors examine the various ways in which…

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Our Latest Content

  • Adding Age (A) to DEI Is a Good IDEA February 2023
  • CPAJ News Briefs: FASB, AICPA February 2023
  • Enhancing Employee Resilience February 2023
  • Cybersecurity Resources for Accounting Practices January 2023
  • A Practical Roadmap for Introducing Agility to Certified Public Accounting Firms January 2023












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