2015 - Page 5 of 22 - Journal of Accountancy

The magazines

October 1, 2015

Succession planning and CPAs’ golden opportunity

CPAs advising small and midsize businesses should take a leading role when it comes to guiding succession planning.

October 1, 2015

New direction for CPA exam

Changes proposed by the AICPA would enable testing of higher-order skills that newly licensed CPAs use in their work.

October 1, 2015

FASB clarifies electricity contract scope exception

The standard removes derivatives and hedging label from some agreements.

October 1, 2015

GASB requiring new government tax incentive disclosures

The standard aims to provide more information for financial statement users.

October 1, 2015

D.C. Circuit confirms Tax Court’s jurisdiction in son-of-boss case

The court will determine the partners’ accuracy-related penalties in a partnership proceeding.

October 1, 2015

PTO and constructive receipt

Paid-time-off plans can create problems with the timing of, and cross-year accounting for, payroll tax liabilities.

October 1, 2015

Estimated tax issues for divorcing couples

Problems can arise when taxpayers try to properly allocate estimated tax payments.

October 1, 2015

Regs. direct where to file refund claims

The rules apply to claims for credit or refund filed on or after July 24, 2015.

October 1, 2015

Property-related litigation costs held includible in home office deduction

The IRS failed to show that combating ‘running wild’ dogs, mold, and noise was exclusively a personal expense.

October 1, 2015

Crowdfunding and income taxes

See how to address this increasingly common source of income with tax clients.

October 1, 2015

Substance-over-form doctrine used to nix growth within Roth IRAs

Purported DISC commissions paid to Roth IRAs as owners of a holding company are recharacterized as dividends to shareholders and excess contributions.

October 1, 2015

Hiring at public accounting firms hits all-time high

Hiring and enrollment in accounting programs are at all-time highs. Master’s degrees are taking off, too, and firms are getting creative in their pursuit of in-demand talent.

October 1, 2015

CPAs: Criminal-pursuing agents

For most CPAs, a lunch with clients is hardly a life-threatening experience. It’s different when you’re an undercover FBI agent posing as an accountant whose clients are mob bosses.

October 1, 2015

Crowdfunding brings new opportunities for CPAs

The explosive growth of crowdfunding will allow CPAs to bring more value to businesses by auditing or reviewing their financials, advising them on taxes and best practices, and helping them minimize risk.

October 1, 2015

FASB should look again at not-for-profits reporting

A reader responds to a recent JofA article on FASB’s project on NFP reporting.

October 1, 2015

IRS will no longer require additional Sec. 83(b) election statement with return

To facilitate e-filing, the IRS proposed to amend Regs. Sec. 1.83-2(c) to eliminate its requirement that taxpayers making a Sec. 83(b) election file a copy of the election statement with their tax return for the year of the transfer of property for which the election is made.

October 1, 2015

FASB issues formal notice of revenue recognition deferral

Delay addresses preparers’ implementation concerns.

October 1, 2015

Keep pace with tech changes

These seven tips can help CFOs mitigate technology risks and maximize returns.

October 1, 2015

Hardware & software: Gadget central

To stay abreast of the newest technologies, I maintain links to more than a dozen gadget websites for my own use, each of which typically posts about 10 to 15 brief articles daily about new and emerging gadgets.

October 1, 2015

Return due dates changed

Tax provisions in the highway funding act also overturn the Supreme Court’s Home Concrete holding that an overstatement of basis does not cause a substantial omission of gross income triggering the extended six-year statute of limitation for assessment.