News & Updates

Introducing the Volunteer Manager system, the VSCPA's new tool to help you find, secure and manage your VSCPA volunteer opportunities. Here's how to get started.  

IRA Early Withdrawal Exceptions   Choosing an early withdrawal from your individual retirement account (IRA) can be a costly move, often resulting in unfavorable consequences such as tax penalties and loss of future growth. In an effort to discourage the early collection of designated retirement money during taxpayers’ working years, Uncle Sam imposes a 10-percent penalty in addition to one’s regular tax bill. A withdrawal made earlier than age 59½ could qualify for such a penalty unless an

Three years after the passage of a key law, the craft beer explosion has made its way to Virginia, leaving a trail of colorful names, exposed tanks and food trucks in its wake. Here’s how some of those breweries are handling the craft beer boom.

It’s a topic that has affected presidential candidates,big-box stores, universities and government agencies, and it&rsquo ON CONFLICT DO NOTHING;s even touched the VSCPA. October was Cyber Security Month, both in the United States — where it was recognized by President Barack Obama — and abroad. And that’s fitting, because it’s truly a global problem. With the United States’ National Cyber Security Awareness Month having drawn to a close, here’s an overview of the biggest trends

Is it a Hobby or a Business? An avid photographer occasionally does wedding photography or sells some shots to the local paper. A stay-at-home parent with a passion for baking takes orders for birthday cakes or desserts for parties. Or someone who’s great with crafts sells some of her creations online. Are they involved in a hobby or a business? That can be a challenging determination for taxpayers, and there are special U.S. Internal Revenue Service (IRS) rules to answer that question, notes the

Make Sure You’ve Got the Right Approach to Charitable Giving This Holiday Season If it hasn’t happened already, you’ll soon receive phone calls, emails and knocks on your front door seeking donations for a number of worthy causes — and quite possibly a few not-so-worthy causes solicited by scammers. Make sure you’re prepared for the holiday season of giving, not only for your protection, but also so you can get the proper tax benefits from your donation.The Virginia Society of

Managing Money and Relationships Has money ever caused arguments in your relationship? If so, you’re not alone. A staggering 88 percent of people between 25 and 40 who are married or living with a spouse or partner cited financial decisions as a source of tension in their relationships, according to a survey by the American Institute of CPAs and the Ad Council. Financial issues were a daily cause of stress in one-fifth of relationships and a weekly cause in about one-third. The Virginia Society of

Medical Coverage While Traveling Overseas While the summer vacation season may be winding down, thousands of people travel overseas each day for business, school or pleasure. However, few consider that their medical insurance coverage might be less than expected or, even worse, nonexistent. As part of trip preparation, travelers should review the local coverage rules for nonresidents. Some countries may offer ‘free’ coverage to tourists in emergencies, but might also require the bill to be paid

This month, the VSCPA is spotlighting some of its top millennial members and the way they bring value to their companies. Today's spotlight is Nick Preusch, CPA, 31, a tax supervisor at PBMares in Fredericksburg.

There’s potential for great collaboration and great confusion with the 2015 Top 5 Under 35. Four of the five winners work for two companies, albeit in different offices in one case. And if you get them in a room and ask for Brian, three of them will turn around, although one spells his name with the “Y” variation. The other quality these five rising stars have in common? An intense dedication to the profession and the communities where they live and work. Read on to learn more about this

There’s no doubt this year&rsquo ON CONFLICT DO NOTHING;s Top 5 Members Under 35 honoreesare the most geographically diverse bunch to win the award. Three winners currently ply their trade outside Virginia, with Northern California-based Aditya Yerramilli, CPA, taking the crown as the farthest-flung winner. The thing is, those three winners never left the VSCPA and still clearly care deeply about the organization. All three have kept up their involvement in VSCPA program planning in the areas of online

Richard Groover, CPA Shareholder, Wall, Einhorn & Chernitzer, Norfolk Get to know Richard Groover, CPA, now, because you’re going to be seeing a lot of him over the next couple of years. In addition to accepting his Top 5 Under 35 award at the Leaders’ Summit in May, Groover was also installed as chair-elect of the VSCPA Board of Directors. That means he’ll be in charge of the Board in a year’s time. It’s been a rapid rise for Groover, 32, who is on the audit side at Wall,

On Wednesday, Jim Phillips, CPA, officially took over as VSCPA Board of Directors Chair from Lisa Germano, CPA. We'll have a more complete profile of Phillips in the July/August issue of Disclosures , but here are a few facts about the 2016–2017 chair: He is a partner at KPMG, where he has worked his entire career in Louisville, Ky., Mountain View, Calif., and his current home of Richmond He is on his second state society board, having previously served on the Kentucky Society of CPAs (KyCPA) Board

Rick White, CPA, has always put his clients first, even atthe expense of his own happiness. But it usually winds up working out for him in the end. White, the new chair of the VSCPA Educational Foundation, found himself at a professional crossroads several years ago as managing partner of Fairfax firm Swart, Lalande & Associates. White loved the small-firm lifestyle and could have kept on happily, but felt his book of clients would be better off with the resources of a larger firm. So he did

This is a story about one man’s journey through the world. This is how Ahmed Ismail, CPA, made his way from rural Ethiopia to Arctic Canada — and picked up a connection with the VSCPA along the way.

Editor’s Note: This is part of a series of profiles highlighting the diverse interests and careers of VSCPA members. Know a member (including yourself) who would make for an interesting profile? Email VSCPA Communications Manager Chip Knighton . Since 2009, VSCPA member Anne Hagen, CPA, has been chief financial officer (CFO) of the Masonic Home of Virginia. The roots for that role were put down decades ago amid milk, vegetables and cuts of meat. Growing up in Lynchburg, Hagen performed any supporting

We here at the VSCPA make an honest effort to avoid puns, but sometimes you just can’t avoid it, and discussing Staunton mayor Carolyn Dull, CPA, is one of those times. So let’s get it out of the way: Dull is not dull, and neither is her job.