An Historical Perspective on the Passage of TRA ’86 By Walter Primoff, CPA/PFS, CGMA January 2018 Editor’s Note: The Tax Cuts and Jobs Act, the most significant overhaul of the federal tax system since the Tax Reform Act of 1986 (TRA ’86), recently passed Congress and was signed into law by the President. This occasion presents […]
A Tax Reform Law for Our New Normal Publisher’s Column By Joanne S. Barry, CAE January 2018 In The CPA Journal‘s December 1986 issue, authors Stanley Rier and Leonard Goodman summed up their analysis of how that year’s major tax reform bill would affect individuals this way: “It appears that under the banner of tax simplification, Congress […]
By Michael Cohn Published January 22 2018, 12:29pm EST The Securities and Exchange Commission charged six CPAs Monday who were former senior officials at KPMG and ex-staffers at the Public Company Accounting Oversight Board with participating in a scheme to misappropriate and misuse information on the PCAOB’s planned inspection of the Big Four firm. The […]
By Edward Mendlowitz Published January 08 2018, 1:09 pm EST Back in 2010, I wrote a book called “Power Bites,” containing some concise management, leadership and lifestyle advice I give to my clients. I was recently asked to update the book, but after rereading it, I still like it the way it is. Here are […]
By Edward Mendlowitz Published January 01 2018, 3:38pm EST All of the accountants I know and interact with are nice caring people and I like them. However there is one area where I believe they are being shortsighted and neglectful—when they have not made arrangements for the continuation and sale of their practice should they […]
By Michael Cohn Published December 20 2017, 4:56pm EST The tax reform legislation that Congress approved Wednesday has a number of complexities that could prove problematic for tax professionals and their clients. “In the international tax arena, the 100 percent exemption for foreign source portion of dividends received from a 10 percent owned foreign corporations […]
By Sidney Kess, JD, LLM, CPA and Walter Primoff, CPA/PFS, CGMA December 2017 In the wake of the Equifax computer breach—in which key personal information of 145 million Americans was stolen—it may be correct to assume that anyone with a credit history is affected. In the words of noted cybersecurity expert Brian Krebs, “Assume you’re compromised, and take […]
By Vincent J. Love and Thomas R. Mansero December 2017 Co-authored by ACA member Vincent J. Love, Alternative Dispute Resolution for Accounting and Related Services Disputes, appeared in the December 2017 issue of the CPA Journal. It addresses the pros and cons of using ADR and gives examples of how mediation and arbitration clauses can be […]
By DON LEE DEC 10, 2017 | 7:00 AM | WASHINGTON Senate Majority Leader Mitch McConnell (R-Ky.) listens to reporters’ questions about the GOP tax bill passed by the Senate. (Mark Wilson / Getty Images) As soon as the last major tax overhaul was enacted in the fall of 1986, accountant Edward Mendlowitz remembers working around the clock to convert […]
By Daniel Hood Published December 06 2017, 2:04pm EST The accounting profession will change beyond recognition over the next 10 years, according to American Institute of CPAs president and CEO Barry Melancon—except he really thinks it will come much more quickly than that. “I really mean five years, but people get scared when I say that,” […]
Accountants Club of America, Inc.