The natural resources sector -- including minerals, quarried stone, coal, natural gas, and more -- is just one of many Pennsylvania industries affected by the Tax Cuts and Jobs Act. To discuss the tax law’s impacts, we spoke with Edward A. Kollar, CPA, EA, CSEP, firm director with Baker Tilly Virchow Krause LLP in Wilkes-Barre and author of the winter 2019 Pennsylvania CPA Journal feature “TCJA: Mining the Tax Benefits for Natural Resources Holders.”
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As firms look for new opportunities to separate themselves from their competition and increase revenue, more and more they are looking at client accounting services, or CAS. In this CPA Conversations, we talk with Hitendra Patil, director of practice development for AccountantsWorld and one of Accounting Today’s Top 100 Most Influential People in Accounting, about what CAS entails, the benefits clients get from them, and the areas within a firm that need to be strengthened before providing...
The full impact of the Tax Cuts and Jobs Act will not be clear for a while, but some aspects are beginning to get some clarity, such as company valuation. In this episode of CPA Conversations, we talk to PJ Patel, co-CEO and senior managing director of Valuation Research Corporation (also known as VRC) and Anthony Pumphrey, vice president of VRC, about the developments around debt financing, bonus depreciation, and more.
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October is Cybersecurity Month, and Jason Rogers, senior vice president of Gallagher Affinity, details the types of insurance accounting firms should have to protect themselves from cybercriminals and hackers. He also discusses trends and shares some real-life consequences of firms that were not properly covered.
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With so many issues in play when it comes to operating a business, boards of directors have a lot of information flying at them. One issue they must make sure they are not overlooking, however, is cybersecurity. In this CPA Conversations, Dan Desko and Troy Fine of Schneider Downs in Pittsburgh discuss what boards need to be aware of in areas such as data breaches, sophistication of cyberattacks, third-party vendors, mobile devices, and more.
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Forget about not talking “too much,” says Charlie Elliott, the co-presenter of “The Facts about Fraud & Federal Criminal Tax Investigations” at the Nov. 13 PICPA Valuation & Forensic Accounting Conference. Elliott advises that if you or your client find investigators banging at your door, the first thing you need to know is “don’t talk at all.” Get more of his tips in this episode of CPA Conversations. Read the full podcast transcript.
Ken Marblestone, JD, a partner with The MandMarblestone Group LLC in Philadelphia, is a proponent of creative retirement plan design for closely held businesses. In this preview of his session at PICPA’s 2018 Personal Financial Planning Conference on Nov. 8, he discusses how financial planners can use defined benefit and cash balance plans to generate significant deductions and retirement savings. Read the full podcast transcript.
If we were doing this podcast five years ago, chances are it would be about the many reasons CPA firms have not moved operations to the cloud. Now, however, advances in technology and greater sophistication make resistance to the cloud almost futile. In this CPA Conversations podcast, Gene Marks, speaker, columnist for The Washington Post and Forbes.com, and president of The Marks Group, discusses all the reasons that going to the cloud makes sense for CPA firms of all sizes. For more, also...
When we hear the term “art,” we probably think of a trip to the museum or a particularly outstanding film. However, a well-designed and effective enterprise risk management (ERM) system can be a work of art as well. Find out how, as well as how ERM can benefit your organization, on this episode of CPA Conversations with J. Stephen McNally, CPA, a member of the Institute of Management Accountants’ Global Board of Directors
We’ve heard for years that millennials crave meaning in their work, but, really, this desire is universal among CPA firm employees. But what’s the secret to finding what your employees value? Get feedback straight from the source. This is just one of the many tips offered in this CPA Conversations with Dana Small, experienced talent management professional and “survey goddess” for Retensa, an employee retention solutions provider in New York City.
CPA firms can benefit greatly from the acquisition of millennial-owned and tech-savvy businesses. However, if they are going to do that, they must understand what attracts people to these firms and what they value most. To get some insight on this, we sat down with Jason Blumer, CPA, founder and CEO at Thriveal.com and BlumerCPAs.com.
The first tax filing season under the Tax Cuts and Jobs Act of 2017 is quickly approaching. Richard Furlong, senior stakeholder liaison with the IRS, and Nick Crocetti, CPA, managing director of CBIZ MHM in Plymouth Meeting, Pa., provide an update on how the agency and CPA firms are preparing for what could be a very challenging filing season. Both are speaking at PICPA’s Federal Tax Reform Conference on Oct. 3, 2018.
Revenue recognition and treatment of leases are hot topics in construction accounting. Jerry Coveney, CPA, a principal with CliftonLarsonAllen in Plymouth Meeting, Pa., discusses FASB’s definition of leases and some of the big changes to revenue and profit recognition requirements. Coveney will speak at greater length on this subject at PICPA’s 2018 Construction Industry Conference on Oct. 16 in Malvern, Pa.
PICPA’s Government Relations team and many dedicated PICPA members helped craft several pieces of important legislation in the 2017-2018 legislative session that benefitted Pennsylvania CPAs, taxpayers, and businesses. Peter Calcara, vice president of the Government Relations team, previews the 2018-2019 legislative year and what PICPA members should expect with combined reporting, property tax reform, and more.
CPA Conversations has previously presented two podcasts with experts discussing the effect the Supreme Court’s in South Dakota v. Wayfair decision will have on internet sales tax. But that’s not the only area impacted by the case. Not many people are talking about what it will do to financial reporting. Luckily, we have James J. Newhard, CPA, sole practitioner in Paoli, Pa., and CPE presenter for Loscalzo Institute, to explain. In a preview of his fall 2018 Pennsylvania CPA Journal...
In a preview of his Litigation Support column in the fall 2018 Pennsylvania CPA Journal, Erik Ringoen of Forensic Resolutions Inc. in Westmont, N.J., discusses the legal concept “piercing the corporate veil.” He explains how a court can hold a business owner personally liable for the debts and actions of their company under certain circumstances. He discusses some of the missteps that can lead to a veil piercing and the forensic CPA’s responsibilities in aiding the court in making such a...
Recent developments have shone a light on the issue of sexual harassment in the workplace, and the accounting industry is no exception. In our latest episode of CPA Conversations, we are joined by Ranica Arrowsmith, Daniel Hood, and Danielle Lee of SourceMedia, the group behind such publications as Accounting Today and Tax Pro Today. They offer an in-depth exploration of their recent reporting on sexual harassment in the business world.
In February 2018, several accomplished accounting professionals participated in a diversity roundtable at Penn State University’s main campus in State College, Pa. This podcast is not an interview, but rather features the actual remarks from the discussion, courtesy of Penn State’s media department. Discover how Derrick Roman, partner with PwC, Jina Etienne, formerly of the National Association of Black Accountants, and Kimberly Ellison-Taylor, immediate past chairman of the American...
In our latest episode of CPA Conversations, William J. Andreoni, CPA, senior director with Pine Hill Group in Philadelphia, offers several valuable tips on implementing the new lease accounting standard. But the main takeaway? If you haven’t started the implementation process on this standard, you better start planning as soon as possible. Learn why in this podcast, and get more details from the Pine Hill Group publication, The Clock Is Ticking: How to Jumpstart Your Lease Accounting...
Getting new clients is a must for CPA firms, and it can be particularly beneficial when those new clients are small businesses. To talk about the benefits that a roster of small-business clients can provide a CPA firm, we sit down with Bryce Sanders, president of Perceptive Business Solutions Inc. and a frequent contributor to AccountingWeb.com.