Covering a wide array of topics, Trends and Hot Topics keeps an eye on what is new in the CPA profession and around the world.
It’s the season of thankfulness. And adding to the list of family, health and happiness, I’d like to share some of the blogs, apps and social media channels that we really appreciate. Friends and coworkers helped me compile a list of technology tips and tricks that make work and life a little easier.
Dan Nestle, senior communications manager at the AICPA, likes "Flipboard and Zite for news gathering."
Chris Ekimoff, CPA, CFE has two favorites: a travel app, TripIt, and, "of course, Thanksgiving wouldn’t be Thanksgiving without ESPN’s Fantasy Football app."
Continue reading "We Give Thanks for These Apps, Blogs and Social Media Tools" »
"People who complain about taxes can be divided into two classes: men and women."
I gave a test in my last tax reform blog. “What will be the greatest driver of tax reform?” and offered the following possible answers:
- Bipartisan compromise?
- Congressional leadership changes?
- Current events?
- Good tax policy?
Continue reading "“Taxation with Representation” – Where Are We with Tax Reform?" »
I am live blogging from the 2013 Digital CPA Conference taking place in D.C., today and tomorrow. Today's live blog is covering Simon Sinek's keynote, Start with Why. Simon is an author and leadership expert. The keynote includes a panel of experts from the CPA profession, including:
- Tom Hood, CPA, CGMA, CEO Maryland Association of CPAs
- Rick Solomon, CPA, CGMA, Chief Executive Officer, RAN ONE Americas
- Rene Lacerte, CEO, Bill.com
- Chris Ekimoff, CPA, Manager, Investigative Accounting and Financial Litigation, Hilton Worldwide
The best way for a team to confront danger to not only survive but to thrive is...together. When the conditions in our organizations are right, we naturally trust each other and cooperate. But when leaders neglect the environment in which their people must work, politics, silos, cynicism and self-intrest prevail; all things that make it even more difficult for us to work together. The best leaders know how to build those conditions and the best organizations are the ones in which the people work together to confront danger and seize opportunities. And the best part is that these "best conditions," seem to mimic the conditions in which we lived 50,000 years ago. Simon will explain what it takes to create a culture in which people work as they were designed - together. It is under these conditions we are at our natural best. (Email subscribers can view the live blog on our website.)
Continue reading "Leaders Eat Last: Why Some Teams Come Together and Others Don't" »
Across the county, state legislatures considered numerous issues that impact the CPA profession. In part two of this two-part post, we review issues dealing with: CPAs providing services for marijuana-related businesses, state board of accountancy reorganizations, sales tax on professional services and peer review.
Marijuana Businesses and CPAs
An issue with implications for the CPA profession centers on the legalization of marijuana for both recreational and medicinal use. While the sale and use of marijuana is illegal at the federal level, state governments and voters are increasingly showing a willingness, in certain jurisdictions, to decriminalize the drug. In November 2012, voters in Colorado and Washington approved ballot measures legalizing the recreational use of marijuana. A total of 19 states and the District of Columbia have laws permitting the use of marijuana for medical purposes. The AICPA, with input from the Colorado and Washington state CPA societies, has developed an issue brief that gives an overview of U.S. recreational and medicinal marijuana laws, the current legislative/regulatory environment and information for CPAs considering providing services to businesses that operate in these industries (including a list of questions for CPAs to ask themselves before considering this line of work).
Continue reading "Fall Review of State Legislative and Regulatory Issues: Part 2 of 2" »
of the multi-dimensional tax environment that now exists post-American Taxpayer Relief Act, CPA
financial planners must look at the tax impact on clients’ financial plans through a 5 to 10 year horizon. Ordinary income tax rates from the Bush Administration
were made permanent. The capital gains rate increased from 15% to 20% for
taxpayers with income greater than the threshold amounts. Phase-out of personal
exemptions and limitations on itemized deductions (Pease) become critical
in managing tax brackets by shifting income and deductions into certain years. This podcast from Bob Keebler provides a overview of theory, strategies and case studies in bracket management. Visit the AICPA PFP Section’s Post
ATRA & NIIT Toolkit for more in-depth resources on planning in
preparation for year-end. (Email subscribers can listen to the podcast on our website.)
Year-End Financial Planning: Bracket Management
Continue reading "Year-End Financial Planning: Bracket Management [PODCAST]" »