Tax accounting (methods and periods)

When a tax cut is a profit hit

Companies with deferred tax assets may report surprisingly lower net income in 2017 even though they will benefit from lower income tax rates under the new tax law in 2018.

Trading virtual currencies

Tax preparers must reckon with not only transfers for property but also for other virtual currencies.

New PATH for depreciation

Changes to 15-year and bonus depreciation rules and Sec. 179 expensing may deliver tax savings to business clients.

New Form 3115 is required, IRS announces

The IRS alerted the public that a new Form 3115, Application for Change in Accounting Method, has been issued with a revision date of December 2015, the first revision since 2009.

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Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.