Professional News

By Michael F. Cade, CPA, CGMA  Professionals in nearly every industry will sometimes reach a point where they begin looking for deeper meaning in their work. For many, including CPAs, a transition to the nonprofit sector, to a mission-focused organization, provides a sense of purpose and an

By Reema Patel, CPA Three years ago, Councilor, Buchanan & Mitchell, PC (CBM), created a plan to address what former managing partner Pete Reilly, CPA, CVA, called “pale, male, and stale” — a makeup of firm leadership that he felt needed to change. Pete was a visionary, and he began having

By Monica H. Kaden, ASA, ABV, CHFP, MBA When preparing an economic damages report, it is important to 1) include certain components discussed in this article, 2) ensure that the expert report is specific to the damages being calculated, and 3) identify the actual harm done to the plaintiff. I was

By Kristy M. Scott, CPA, CISA, CIA Internal audit departments serve a crucial role in many organizations of varying sizes and purposes in both the private and public sector. The International Professional Practices Framework (IPPF) is the conceptual framework providing authoritative guidance from

By Tori Smith Harold Martin, CPA, played guitar at an AICPA conference. Jessica McClain, CPA, is a season ticket holder for the Washington Commanders. Jonathan Saad, CPA, enjoys playing golf and tennis in his free time. Hope Cupit, CPA, has a son whose football games air on ESPN. But you’d never

by Mark L. Lubin, CPA, JD, LLM Busy tax practitioners often focus on issues of immediate urgency, which can sometimes leave them susceptible to making errors when determining the tax basis of interests in business entities, including C corporations, S corporations, and partnerships. (References to

By Deborah Schaub, CPA, C&B Accounting Getting audited is a common fear of business clients, especially if they fall into the “target” groups of Schedule C filers, pass-through entities and millionaires. Although most may never have to experience an audit, professionals need to hope for the best

By Philip Karter, JD, LLM, and Kevin F. Sweeney, JD Changes to the nation’s tax system are on the horizon, and one of the biggest impacts will likely be a reinvigorated, well-funded IRS. And a well-funded IRS certainly means an increase in IRS audits. Businesses and high-income individuals would be

By Christopher R. Cicalese, CPA, MSTFP, Alloy Silverstein Accountants and Advisors If the pandemic has taught the accounting profession anything, it is that traditional accounting firms full of paper, office hours and in-person meetings are officially on the outs and firms must start to adapt to the

By Nicole DeRosa, CPA Tax controversy can be very unnerving and daunting for businesses and individuals, as most people only hear the worst of the worst and thus view tax notices and audits in a negative light. As a client’s trusted advisor, it is very important for CPAs to take control of the