Podcasts about aicpa

We'll be coming out with new episodes every month to help you along your CPA journey. Get insider tips, expert advice, and valuable insights to help you navigate your accounting career and CPA Exam process.   Your journey to becoming a CPA just got a whole lot more exciting! Check out these available resources: STUDENTS Register for free AICPA student affiliate membership here.  Check out upcoming AICPA student webinars here. Get a head start with our AICPA Career Guide here.  CANDIDATES Register for AICPA new candidate membership here. Check out the AICPA CPA Exam booklet here. Get a head start with our AIPCA CPA Exam Blueprints article here. 

Host Cary Sinnett and business transition advisor Mike Benedict discuss how to prepare business owners for one of their largest lifetime transactions—exiting their business. The conversation covers key aspects of pre-transaction preparation, valuation methods, building a sell-ready business, and leveraging tax strategies to maximize outcomes. Key Insights Pre-Transaction Preparation: Use a thorough quality of earnings review—similar to staging a home—to highlight strengths and avoid surprises during due diligence. Integrated Planning: Blend exit strategies with overall financial and estate planning to manage tax implications and valuation challenges seamlessly. Realistic Valuation: Rely on recast financials and market comparable to determine a fair, median value that avoids skew from outlier offers. Sell-Ready Business: Aim for a business that operates independently, with strong margins and a robust management team, to attract quality buyers. Strategic Tax Optimization: Apply targeted tax strategies and leverage specific IRS elections to minimize capital gains and enhance the net proceeds from a sale. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Guide: The Adviser's Guide to Financial & Estate Planning – 15th Ed Podcast: Building business owner wealth with tax advantaged plans Podcast: Deeper CPA financial planner connections with Mackey McNeill This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

As the demands on modern CPAs change, so also does the CPA Exam. Updates in the design and focus of the CPA Exam have been in effect for about a year now, and two AICPA experts joined the Journal of Accountancy podcast to discuss the changes, address misconceptions, and offer reminders on best practices. Any preparation for the CPA Exam should include a look at the CPA Exam Blueprints, according to Joe Maslott, CPA, director–Examinations. Mike Decker, vice president–CPA Exam and Pipeline offers insights into the changes and reminds candidates that the CPA Exam should be respected but not feared. What you'll learn from this episode: ·         Maslott's review of why the CPA Exam was redesigned for the start of 2024. ·         Decker's comments on misconceptions about the new exam. ·         The “relief valves” now offered for CPA candidates in exam timeframes. ·         Best practices and strategies for approaching the new sections of the exam. ·         Why pass rates are expected to rise.

On this episode uncover the latest updates related to disaster tax relief with the “Master of Disaster” Jerry Schreiber, CPA, and Brandon Nishnick, Manager, Tax Practice & Ethics —  AICPA & CIMA. Hear valuable insights and practical advice for tax practitioners who are dealing with disaster-related tax issues.  What you'll learn from this episode:  •    The latest legislation related to tax disaster relief •    What's considered a “qualified disaster” for tax purposes  •    Practical considerations around filing extensions for tax returns postponed due to disasters •    State disaster tax relief resources available •    How to obtain disaster relief when records are located in a disaster area AICPA resources Disaster Relief Resource Center — Preparing for disasters beforehand, deciphering tax relief opportunities and accessing resources during the recovery process help to protect personal and business assets. In the event of a disaster, AICPA & CIMA are here to help and provide resources to help you get on the road to personal and financial recovery. State Disaster Tax Relief Guide — There is inconsistency in the tax relief states offer following federally declared disasters. This resource serves as a guide to reduce confusion. IRS resources IR-2025-41 — IRS reminder: Disaster victims in twelve states have automatic extensions to file and pay their 2024 taxes. Publication 547, Casualties, Disasters, and Thefts — This IRS publication explains the tax treatment of casualties, thefts and losses on deposits. Other resources Federal Emergency Management Agency (FEMA) — Bookmark the FEMA website for FEMA responses to all declared domestic disasters and emergencies, whether natural or man-made.  Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The discussion underscores the importance of participating in professional communities like the AICPA FVS Section for continuous learning and support.  Bethany and Tade highlight how the FVS community has significantly contributed to their professional growth by providing key resources to assist with client engagements and a supportive community of professionals.    Using FVS Section resources in client work Networking benefits – connecting with supportive SMEs Community involvement aiding professional development Continue reading to learn about key resources available at AICPA-CIMA.com Guests:   Bethany Hearn, CPA/ABV, Partner, MH CPA PLLC and Tade Akinkugbe, ABV, ASA, Senior Manager, KPMG Host: Josh Shilts, CPA/ABV/CFF/CGMA, Director, Dean Dorton Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES MENTIONED IN THE EPISODE - the following are all available as part of an AICPA FVS Section membership.  Click here to learn more about joining this community. In addition to exlusive resources such as the following, you also get 16 credits of complimentary CPE If you're using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links.  Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (the PE/VC guide) Valuation of Privately Held Companies Equity Securities Issued as Compensation (the "Cheap Stock" guide) PE/VC Accounting and Valuation Guide Best Practices Primer on private equity and venture capital valuations Valuation of carried interest in private equity and venture capital firms | FVS webcast archive A CPAs guide to family law services – FVS Practice Aid Valuations for financial reporting toolkit FVS Estate and Gift practice aid and toolkit If you are not yet an FVS Section member, here are links to purchase 2 of our most popular guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies  From the FVS Valuation Podcast archives  - available to all Women Leaders in Business Valuation Using AI in Your Valuation Practice – Part 1 Using AI in Your Valuation Practice – Part 2 Recruiting Challenges in BV: The Perfect Storm LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com    

The discussion underscores the importance of participating in professional communities like the AICPA FVS Section for continuous learning and support.  Bethany and Tade highlight how the FVS community has significantly contributed to their professional growth by providing key resources to assist with client engagements and a supportive community of professionals.    Using FVS Section resources in client work Networking benefits – connecting with supportive SMEs Community involvement aiding professional development Continue reading to learn about key resources available at AICPA-CIMA.com Guests:   Bethany Hearn, CPA/ABV, Partner, MH CPA PLLC and Tade Akinkugbe, ABV, ASA, Senior Manager, KPMG Host: Josh Shilts, CPA/ABV/CFF/CGMA, Director, Dean Dorton Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES MENTIONED IN THE EPISODE - the following are all available as part of an AICPA FVS Section membership.  Click here to learn more about joining this community. In addition to exlusive resources such as the following, you also get 16 credits of complimentary CPE If you're using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links.  Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (the PE/VC guide) Valuation of Privately Held Companies Equity Securities Issued as Compensation (the "Cheap Stock" guide) PE/VC Accounting and Valuation Guide Best Practices Primer on private equity and venture capital valuations Valuation of carried interest in private equity and venture capital firms | FVS webcast archive A CPAs guide to family law services – FVS Practice Aid Valuations for financial reporting toolkit FVS Estate and Gift practice aid and toolkit If you are not yet an FVS Section member, here are links to purchase 2 of our most popular guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies  From the FVS Valuation Podcast archives  - available to all Women Leaders in Business Valuation Using AI in Your Valuation Practice – Part 1 Using AI in Your Valuation Practice – Part 2 Recruiting Challenges in BV: The Perfect Storm LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com    

Live from Transform 2025! Sarah Reynolds (they/them) is a creative, award-winning marketing executive and advocate for diversity, equity, inclusion, and belonging (DEIB). A veteran of the HR software market, Sarah is currently Chief Marketing Officer at Hibob, where they bring their deep industry knowledge, passion for storytelling, and keen eye for performance insights to bear in scaling HiBob's global reach. Prior to joining HiBob, Sarah was Chief Marketing Officer at Udacity, Head of Commercial Marketing at APTC, and Vice President of Marketing at Salary.com. An openly non-binary executive, Sarah writes and speaks widely about diversity and inclusion, pay equity, the future of work, and the intersection of bias, ethics, and technology. They have contributed to Forbes, Campaign US, Yahoo Finance, Training Industry Magazine, and the Society for Human Resources blog, and frequently speak at live and virtual events hosted by the National Association of Manufacturers, the Manufacturing Leadership Council, the Manufacturing Institute, WorldatWork, SHRM, HR Dive, AICPA, and more. Learn more about HiBob: https://www.hibob.com/ Connect with Sarah: https://www.linkedin.com/in/sarahlizreynolds/ In this fantastic covo, we dig into: - The state of the TA landscape - How pay transparency supports recruitment and retention efforts - Strategies and technology that can help implement pay transparency policies - Addressing gender, racial, and other pay disparities through benchmarking And so much more! Live from Transform 2025, we're bringing you an exclusive podcast series packed with insights from some of the brightest minds in hiring, talent strategy, and workforce transformation! In this series, we've got incredible guests from Okta, Tubi, Edelman, Greenhouse, Findem, and more, sharing how top organizations are rethinking hiring, culture, and talent acquisition in today's fast-changing world. Greenhouse combines a structured, data-driven hiring approach with AI-embedded workflows that empower recruiters to focus on strategic, high-impact work. From sourcing top talent to personalizing the candidate experience, Greenhouse streamlines and optimizes the entire hiring process. This ensures that every hire is the right hire—eliminating bias, creating fairness, and helping teams make smarter, faster decisions. Over 7,500 companies, including HubSpot, Duolingo, and J.D. Power, trust Greenhouse to build better teams and turn talent into a strategic advantage. Want to learn how today's top companies are winning the talent game? Tune in now and visit Greenhouse.com to transform the way you hire. Thanks for listening. Please follow us on Instagram @NHPTalent and X @AdamJPosner. Visit www.thePOZcast.com for all episodes

In this episode, Cary Sinnett is joined by renowned CPA and tax expert Bob Keebler to unpack the complexities of theft and casualty loss deductions under IRC Section 165. From pig butchering scams to IRA fraud and Ponzi schemes, this episode dives deep into the kinds of losses the IRS will—and won't—let you deduct, what qualifies as a profit motive, and how financial planners can guide their clients through one of the most emotionally and financially painful tax situations. Five Key Insights for CPA Financial Planners: Profit Motive Determines Deductibility To qualify under Section 165(c)(2), a theft or loss must stem from a transaction entered into for profit. Losses from romantic or emotional scams—where no profit motive exists—do not qualify. Five Scam Archetypes to Know A recent IRS CCA outlined five fraud scenarios: Compromised account scams Pig butchering (crypto fraud) Phishing and impersonation Romance scams Kidnapping/extortion schemes Only the first three had profit motives and were deductible. The IRA Trap: The Tax Hit Before the Scam If a client is duped into withdrawing funds from an IRA and then loses the money to a scam, they face a double blow—taxable income and no deductible loss. CPA advisors must flag this risk early. Documentation Is Critical for IRS Support To substantiate a theft loss, clients need: Bank records (e.g., wire transfers) Law enforcement reports A clear, detailed paper trail showing the loss and the attempt to recover funds Directing the IRS to the assigned FBI agent can strengthen the claim. Mitigation and Planning: Protecting Vulnerable Clients Encourage older or high-net-worth clients to follow a “1–2% rule” on risky investments. Foster opens dialogue with family members and advisors to prevent fraud and ensure support if it occurs. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. IRC Section 165 IRS CCA 2025-101015 (the ruling discussed) Revenue Procedure 2009-20 (Ponzi Scheme Safe Harbor) AICPA PFP Section Guiding your clients who are financial caregivers Scam Tracker Risk Report This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.  

No matter who's in charge, regulation, legislation, and education remain front and center when it comes to advocacy efforts in Washington, according to Mark Peterson, AICPA & CIMA executive vice president–Advocacy. Also important is understanding how to navigate a new administration's priorities.  In this episode of the Journal of Accountancy podcast, Peterson details some of the focus areas of the White House and Congress – tax legislation, an emphasis on government efficiency, and a change in regulatory approach. What you'll learn from this episode: ·         Peterson's overview of AICPA advocacy in Washington. ·         Why “navigate” is an important word for Peterson. ·         What has been normal and not normal in the change of presidential administrations. ·         Peterson's assessment of the potential path for tax legislation. ·         The “very different environment” related to regulation of public companies. ·         Advice for members in dealing with D.C. uncertainty.

Simple Agreement for Future Equity (SAFEs), convertible notes, and embedded derivatives are among financial instruments which feature optionality, which can obscure confidence in the expected value of the associated future economic benefits.  Published guidance is limited, and adding to the complexity, some alternative investment transactions have optionality features lurking within, dormant, and not readily apparent.  This presents a wrinkle for practitioners who try to value assets which could morph into something else tomorrow.  Listen to how specialists in this area approach these issues, and read below for key AICPA resources to improve your own valuation analyses. Key Takeaways Applications and limitations of formal valuation guidance How optionality characteristics influence financial instrument design Best practices for valuing instruments with optionality features Approaches for early stage assets lacking underlying valuations Guests: Oksana Westerbeke, Partner, and Jared Hannon, Director, Grant Thornton Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links.  2024 AICPA & CIMA Forensic & Valuation Services Conference - for purchasesession: Full conference package  Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies From the FVS Valuation Podcast archives  Valuing Complex Financial Instruments 409a Valuations - What You Need To Know Valuation Considerations in Equity Compensation  LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com  

Simple Agreement for Future Equity (SAFEs), convertible notes, and embedded derivatives are among financial instruments which feature optionality, which can obscure confidence in the expected value of the associated future economic benefits.  Published guidance is limited, and adding to the complexity, some alternative investment transactions have optionality features lurking within, dormant, and not readily apparent.  This presents a wrinkle for practitioners who try to value assets which could morph into something else tomorrow.  Listen to how specialists in this area approach these issues, and read below for key AICPA resources to improve your own valuation analyses. Key Takeaways Applications and limitations of formal valuation guidance How optionality characteristics influence financial instrument design Best practices for valuing instruments with optionality features Approaches for early stage assets lacking underlying valuations Guests: Oksana Westerbeke, Partner, and Jared Hannon, Director, Grant Thornton Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links.  2024 AICPA & CIMA Forensic & Valuation Services Conference - for purchasesession: Full conference package  Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies From the FVS Valuation Podcast archives  Valuing Complex Financial Instruments 409a Valuations - What You Need To Know Valuation Considerations in Equity Compensation  LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com  

On this episode (an updated version of the previous episode ERC updates & deadlines) Chris Wittich, MBT, CPA, Partner — Boyum Barenscheer, discusses the latest updates on the employee retention credit (ERC) as the five-year anniversary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, approaches. He emphasizes the upcoming deadline for submitting 2021 ERC claims by April 15, 2025. Also covered is the latest guidance from the IRS on how to handle income tax returns for ERC claims, the challenges faced by clients related to slow IRS ERC claim processing and tips for addressing claim denial letters. What you'll learn from this episode:  Reminder of the upcoming April 15 deadline to submit ERC claims What the updated IRS FAQs say about reflecting salary deductions for claims and denials What to tell your clients about processing times for current ERC claims Different types of IRS correspondence that are being received related to ERC claims  AICPA resources Employee retention credit guidance and resources — A library for comprehensive guidance, essential tools and the latest news on the ERC. IRS FAQs about the Employee Retention Credit — On March 20, the IRS provided updated FAQs on income tax and ERC. Traction with the Tiger — Hosted by Chris Wittich, Traction with the Tiger is a podcast series for staying ahead in accounting, business and beyond. Chris covers hot topics, shares key business tips and welcomes engaging guests to provide expert insights, inspiration and actionable advice. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

In this episode of the AICPA Personal Financial Planning Podcast, host Cary Sinnett speaks with expert CPA estate planner Bob Keebler about the latest legislative efforts to repeal the estate tax. They discuss the implications for financial planners, strategies to consider, and how advisors can proactively help clients navigate potential changes. Key Takeaways: Estate Tax Repeal on the Horizon Bills have been introduced in Congress to repeal the estate tax while retaining the gift tax and repealing the generation-skipping transfer (GST) tax. The likelihood of repeal is uncertain, and any repeal may be temporary depending on future political shifts. Potential Scenarios for Estate Tax Reform Three possible outcomes: extension of the current Tax Cuts and Jobs Act (TCJA), total repeal, or a sunset of the current exemption levels. A sunset would likely be the least favorable for high-net-worth individuals, while total repeal could create new planning challenges. Implications for Estate Planning Strategies Portability rules could be affected, potentially eliminating the ability for a surviving spouse to use a deceased spouse's unused exemption. Trust structures, such as bypass and GST-exempt trusts, may need to be reviewed and adjusted before any legislative changes take effect. Planning Ahead: A Limited Window for Action Advisors should consider creating GST-exempt trusts in 2025 before any repeal is enacted to preserve tax benefits. Reviewing and updating existing estate planning documents is critical to avoid unintended consequences if the tax law changes. Access resources and events related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Understanding Estate Tax Sunset | Navigating Tax Changes for Expiring TCJA Provisions Estate planning for the TCJA sunset of the double exclusion amount Planning for tax changes and tax reform This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.      

On this episode Chris Wittich, MBT, CPA, Partner — Boyum Barenscheer, discusses the latest updates on the Employee Retention Credit (ERC) as the five-year anniversary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, approaches. He emphasizes the upcoming deadline of submitting 2021 ERC claims by April 15, 2025 and addresses the complexities surrounding the statute of limitations for ERC claims and income tax returns. The episode also highlights the challenges faced by clients in managing tax liabilities, the slow IRS ERC claims processing and tips for addressing claim denial letters. What you'll learn from this episode:  Reminder of the upcoming April 15 deadline to submit ERC claims Complexities surrounding the statute of limitations for income tax returns where an ERC claim was filed What to tell your clients about the processing times for current ERC claims Different types of IRS correspondence that are being received related to ERC claims AICPA resources Employee retention credit guidance and resources — A library for comprehensive guidance, essential tools and the latest news on the ERC. Traction with the Tiger — Hosted by Chris Wittich, Traction with the Tiger is a podcast series for staying ahead in accounting, business and beyond. Chris covers hot topics, shares key business tips and welcomes engaging guests to provide expert insights, inspiration and actionable advice. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Brad and his guests discuss the AICPA's post-implementation review of Statement on Auditing Standards No. 143: Auditing Accounting Estimates and Related Disclosures. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources:Statement on Auditing Standards No. 143: Auditing Accounting Estimates and Related DisclosuresAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group

Gary Thomson, CPA, Founder and Principal of Thomson Consulting, and Sarah Johnson Dobek, Founder and President of Inovautus Consulting, explore how strong governance can drive successful business model transformation. They share practical insights on how firms can adopt effective governance frameworks to guide their transformation strategies, ensuring sustainable growth and adaptability. You'll learn key approaches to structuring governance that can help your firm navigate change for new opportunities. To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com  

This week on the pod: Judge orders 6 agencies (including IRS?) to rehire fired probationary workers, we dig into the tax trick Dr. Oz used to pay no Medicare taxes, AICPA in pointless talks with the IRS, Digits takes on QuickBooks with AI-powered GL, remote accounting jobs in retreat, and more!SponsorsOnPay - http://accountingpodcast.promo/onpayRelay - http://accountingpodcast.promo/relayChapters(01:29) - Listener Feedback and Criticism (02:37) - Political Discussions and Their Impact on Accounting (12:34) - IRS Workforce Cuts and Technology Issues (20:44) - Dr. Oz and the Limited Partner Tax Strategy (33:15) - Viewer Comments and AI Discussion (33:56) - Digits and AI (52:29) - Remote Accounting Jobs: Trends and Insights (58:32) - Deloitte's Audit Integrity (01:00:53) - IRS Drama: Chief Counsel Clash (01:02:03) - Podcast Wrap-Up and Listener Engagement  Show NotesDr. Mehmet Oz may have underpaid Medicare and Social Security taxes, Senate Democratic memo findshttps://www.nbcnews.com/politics/congress/dr-mehmet-oz-medicare-social-security-taxes-democrats-memo-rcna196237 DOGE proposes cutting IRS workforce by a total of nearly 20%https://www.cnn.com/2025/03/13/politics/doge-irs-workforce-cuts-downsizing/index.html Judge orders Trump administration to reinstate thousands of fired employees at VA, Defense Department and other agencieshttps://www.cnn.com/2025/03/13/politics/judge-opm-probationary-employees-fired-hearing/index.html AICPA CEO Releases Statement on IRS Services for this Tax Seasonhttps://www.aicpa-cima.com/news/article/aicpa-ceo-releases-statement-on-irs-services-for-this-tax-season Introducing Autonomous General Ledgerhttps://digits.com/blog/agl-announcement/ Building AI that Actually Works: 10 Key Lessons from Calendly's CPO and Head of UXhttps://www.saastr.com/10-key-lessons-from-calendlys-cpo-and-head-of-ux-on-building-ai-that-actually-works/ Only 9% of SMB finance teams are still working fully remotehttps://www.cfo.com/news/only-9-of-small-medium-SMB-cfos-are-still-working-fully-remote-return-to-office-strategies/740312/ Opportunity to Attract and Retain Highly Motivated Working Parents via Enhanced Flexibility, Stronger Support Systemshttps://kpmg.com/us/en/media/news/kpmg-working-parents-survey-2025.html Steak n Shake's parent company gets an adverse opinion from auditorhttps://www.expressnews.com/business/article/steaknshake-biglari-auditor-adverse-opinion-20204740.php The IRS just demoted its chief counsel who clashed with Elon Musk's DOGEhttps://fortune.com/2025/03/13/irs-chief-counsel-doge-elon-musk/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

GDP Script/ Top Stories for March 13th Publish Date: March 13th From the BG AD Group Studio Welcome to the Gwinnett Daily Post Podcast. Today is Thursday, March 13th and Happy birthday to Adam Clayton I’m Peyton Spurlock and here are your top stories presented by KIA Mall of Georgia. Jackson EMC’s Right Choice Homes Program Celebrates 20 Years Josh Fricks promoted to partner at Duluth's RYBD Nearly two dozen Gwinnett high schools made Georgia's AP Honors list Plus, Leah McGrath from Ingles Markets on eggs All of this and more is coming up on the Gwinnett Daily Post podcast, and if you are looking for community news, we encourage you to listen daily and subscribe! Break 1: 07.14.22 KIA MOG STORY 1: Jackson EMC’s Right Choice Homes Program Celebrates 20 Years Jackson EMC’s Right Choice homes program, celebrating 20 years, honored local homebuilders for their commitment to energy-efficient construction. Since 2004, over 17,000 Right Choice homes, spanning 27 million square feet, have been certified, saving homeowners energy and money. Awards recognized builders in categories like Diamond, Platinum, Gold, and Multi-Family, with Chafin Communities earning Builder of the Year in the Diamond Class. Leadership and Community Spotlight Awards highlighted individual and community contributions to energy-efficient building. Jackson EMC praised long-time participants for their dedication to comfort and sustainability. STORY 2: Josh Fricks promoted to partner at Duluth's RYBD Rhodes, Young, Black and Duncan (RYBD) has promoted Josh Fricks, CPA, to partner, recognizing his leadership and contributions since joining in 2018. Fricks, a University of North Georgia graduate, specializes in tax planning, optimizing tax structures, and guiding mergers and acquisitions for small businesses. An active member of the Georgia Society of CPAs and AICPA, he stays ahead of industry trends to deliver innovative solutions. Managing Partner Robin Sansone praised Fricks’ dedication and expertise, highlighting his impact on the firm and its clients. STORY 3: Nearly two dozen Gwinnett high schools made Georgia's AP Honors list Twenty-three Gwinnett County high schools were recognized as 2025 AP Honor Schools for their students' performance in Advanced Placement courses. The Georgia Department of Education highlighted schools in categories like AP STEM, Humanities, and Access and Support, among others. Superintendent Calvin Watts praised the achievement, crediting students, staff, and families. Schools like Archer, Brookwood, and Duluth earned recognition across multiple categories, reflecting Gwinnett's commitment to rigorous academics and expanding AP access. These honors showcase the district's efforts to foster academic excellence and prepare students for college success. We have opportunities for sponsors to get great engagement on these shows. Call 770.874.3200 for more info. We’ll be right back Break 2: Ingles Markets 10 STORY 4: Police catch three men allegedly trying to steal mail from apartment complex Three men were arrested for attempting to steal mail from The Fields At Peachtree Corners Apartments in Gwinnett County on March 1. Police responded to a theft-in-progress call and found damaged mailboxes, mail scattered on the ground, and suspects inside the mailbox building and a vehicle. Brandon Wyche, Duane Keith, and Demontre Shavers face charges including burglary, mail theft, and narcotics possession. Authorities encourage anyone with information to contact detectives or Crime Stoppers, which offers cash rewards for tips leading to arrests. STORY 5: Braselton’s Annual PathFest Returns PathFest, Braselton’s annual community celebration, is set for Saturday, March 15, featuring a parade and scavenger hunt. The parade, showcasing decorated golf carts, bikes, and walking groups, will travel along the Braselton LifePath starting at Ace Hardware and ending at Primrose School. At 11 a.m., the “Back to School”-themed PathQuest scavenger hunt begins, with teams solving clues and completing challenges via a new interactive app. Winners, announced at 3 p.m. at Jack’s Public House, will receive up to $350 in eGift cards. Break 3: And now here is Leah McGrath from Ingles Markets on eggs *** INGLES ASK LEAH (EGGS)*** We’ll have closing comments after this Break 4: Ingles Markets 1 Signoff – Thanks again for hanging out with us on today’s Gwinnett Daily Post Podcast. If you enjoy these shows, we encourage you to check out our other offerings, like the Cherokee Tribune Ledger Podcast, the Marietta Daily Journal, or the Community Podcast for Rockdale Newton and Morgan Counties. Read more about all our stories and get other great content at www.gwinnettdailypost.com Did you know over 50% of Americans listen to podcasts weekly? Giving you important news about our community and telling great stories are what we do. Make sure you join us for our next episode and be sure to share this podcast on social media with your friends and family. Add us to your Alexa Flash Briefing or your Google Home Briefing and be sure to like, follow, and subscribe wherever you get your podcasts. Produced by the BG Podcast Network Show Sponsors: www.ingles-markets.com www.kiamallofga.com #NewsPodcast #CurrentEvents #TopHeadlines #BreakingNews #PodcastDiscussion #PodcastNews #InDepthAnalysis #NewsAnalysis #PodcastTrending #WorldNews #LocalNews #GlobalNews #PodcastInsights #NewsBrief #PodcastUpdate #NewsRoundup #WeeklyNews #DailyNews #PodcastInterviews #HotTopics #PodcastOpinions #InvestigativeJournalism #BehindTheHeadlines #PodcastMedia #NewsStories #PodcastReports #JournalismMatters #PodcastPerspectives #NewsCommentary #PodcastListeners #NewsPodcastCommunity #NewsSource #PodcastCuration #WorldAffairs #PodcastUpdates #AudioNews #PodcastJournalism #EmergingStories #NewsFlash #PodcastConversations See omnystudio.com/listener for privacy information.

On March 5, the AICPA published a comprehensive set of criteria for reporting on the digital assets known as stablecoins. The criteria are designed to address “the need for consistency, transparency, and trust in the stablecoin environment.” Jay Schulman, CPA, is a principal at RSM, and he's focused, in his job and his role on AICPA committees, on digital assets. In this episode of the Journal of Accountancy podcast, Schulman explains areas of focus for the AICPA's Digital Assets Working Group and the group's attestation subcommittee. That work includes the stablecoin criteria. Resources: n  Accounting for and Auditing of Digital Assets (practice aid) n  Blockchain Universal Glossary n  Stablecoin Reporting and Assurance landing page What you'll learn from this episode: ·         Schulman's explanation of the difference between bitcoin and stablecoins. ·         The reasons that an AICPA committee and subcommittee on attestation are focused on stablecoins. ·         Examples that remind Schulman of how different generations view money. ·         Why Schulman refers to the criteria as “transparency-oriented.” ·         The resources Schulman recommends related to stablecoins and the priorities of the Digital Assets Working Group.

To celebrate Women's History Month, we are excited to share a special episode for our FVS Valuation podcast which explores the diverse backgrounds of several business valuation leaders, their paths into a career in business valuation, and their journeys to becoming experts in the field.  The conversation highlights the many routes that can lead to success in business valuation, including  The significance of obtaining the Accredited in Business Valuation (ABV) credential and how it has impacted their careers Their strategies for achieving a healthy work-life balance while excelling in their professional roles The role of mentorship and support systems in their career development and success Please be sure to register for our upcoming Fireside Chat on Tuesday, 3/25, where we will have an extended conversation with our esteemed guests and gain further inspiration and insights from their experiences. Register now to secure your spot!  Guests:  Bethany Hearn, CPA/ABV, Partner, MH CPA PLLC Kathy Johnson, CPA/ABV/CFF/CGMA, Vice-President, J.S. Held LLC Tiffany Mellow, CPA/ABV, Practice Leader and Shareholder, Perkins & Co  Host:  Nene Glenn Gianfala, CPA/ABV, Senior VP and Shareholder, Chaffe & Associates, Inc.  Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links.  Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic From the FVS Valuation Podcast archives  Women in FVS, A Multigenerational Perspective - Part 1 Women in FVS, A Multigenerational Perspective - Part 2 Increasing Engagement with FVS Emerging Professionals This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com      

Why Are Accounting Firms Quietly Dropping DEI?Accounting firms are making drastic changes to their DEI programs, and not in the way you might think. KPMG has officially ended its "Accelerate 2025" program, following similar moves from Deloitte and others. Meanwhile, governing bodies like AICPA, CIMA, and ACCA are doubling down on DEI's importance. So, what's really happening? In this episode, Rob Brown breaks down:Key Takeaways:✅ Why KPMG, Deloitte, and others are scaling back DEI✅ The legal and political forces driving this shift✅ How these changes impact recruitment and retention✅ What firms risk by pulling back on DEI initiatives✅ The burnout crisis hitting DEI professionals in firms✅ What governing bodies like AICPA & ACCA say about DEI✅ How accounting leaders should navigate this challengeKiller Quotes:

Cary Sinnett and Dan Snyder discuss the repeal of the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP), major changes impacting public workers, spouses, and retirees. Learn who is affected, how to claim retroactive payments, and key financial planning strategies. Key Takeaways: Who's Affected? Retired public workers, teachers, police, firefighters, and spouses previously impacted by GPO/WEP. What Changed? The Social Security Fairness Act (Jan 2025) repeals GPO & WEP, allowing full Social Security benefits. Retroactive Payments: Eligible recipients may receive lump sums dating back to Jan 2024. Apply immediately to maximize benefits. Tax Planning Alert: Lump sums are taxable with no withholding—prepare for potential Medicare IRMAA impacts. Action Steps for Advisors: Identify affected clients, review tax strategies, and ensure timely applications. Access resources and events related to this podcast. Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links: Guide: Social Security Planning Webcasts: How to Guide Clients Through the Maze of Social Security Decisions IRS Publication 915: Social Security and Equivalent Railroad Retirement Benefits This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

On this episode, Mark Gallegos, CPA, MST, Partner — Porte Brown, discusses strategies for thriving during tax season. Mark highlights his current challenges but reiterates the importance of staying educated and focused in order to foster a spirit of collaboration and support to get through busy season. What you'll learn from this episode:  Practical tips on supporting staff during busy season How to stay focused and avoid getting distracted with all the noise The importance of providing support and guidance to your colleagues Tips on managing workflow and deadlines AICPA resources Reimaging your tax practice — Tackle today's top practice management issues with insights and tips from pioneers in the tax community. Join the upcoming session on March 19 at 3pm ET to hear about Tax Season Triage: Your questions answered. Beneficial ownership information (BOI) reporting — Access resources to learn about the BOI reporting requirement under FinCEN's Corporate Transparency Act (CTA). Transforming Your Business Model: Talent — Tap into the Private Company Practice Section (PCPS) toolkit for resources around attracting, retaining and developing talent to ensure the growth of the profession and position your firm for success.  Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Private equity-backed firms are reshaping the professional services landscape. In this episode, Tim Brackney, CEO of Springline Advisory, and Josh Beck, Managing Partner at MarksNelson Advisory LLC, share insights into their collaboration and strategic approaches to firm growth and transformation. Discover how Springline's model helps firms unlock value, enhance operations and scale successfully. From leadership alignment to strengthening people-first cultures, this conversation reveals how firms can leverage private equity to evolve their business model while staying true to their core values. To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com  

In this episode, Jamie Lopiccolo, CPA, CGMA, Founder and Managing Member of Capocore Professional Advisors, and Will Hill, Owner of Will Hill Consults, discuss marketing and pricing tax advisory services. They explore the importance of identifying client needs through effective listening and highlight the significance of understanding clients' pain points and gaps to move beyond traditional tax. What you'll learn from this episode: How to use effective listening techniques to identify client needs and help uncover pain points and gaps The importance of moving beyond traditional tax services to offer comprehensive advisory solutions. How to potentially classify tax advisory opportunities into different pricing buckets and the importance of adjusting pricing based on scope changes. The importance of involving team members in advisory services early on, even if they feel unprepared, as this helps them learn and grow in their roles. AICPA resources Broadridge Advisor Spotlight for Tax Section Members — Tax Section members can access sample resources from Broadridge Advisor which provides client education and communication tools on personal financial planning. 2025 Tax and Financial Planner — This digital, month-by-month planner is designed for Tax and PFP Section members and serves as a field guide to summarize key due dates, action items, client engagement ideas and financial planning tips. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The new head of the AICPA, Mark Koziel, shares his thoughts about the profession, his plans for the organization, and more.  

Guests Matthew Payze and Stewardt Cornelissen join us from South Africa. Together we discuss their experiences in studying for CGMA, and share their advice and views on studying for the qualification via the FLP pathway.   The CGMA Finance Leadership Programme (FLP) is the online pathway to the prestigious Chartered Institute of Management Accountants' Professional Qualification. Find out more about the FLP at https://enroll.cgma.org/ or https://www.aicpa-cima.com/resources/landing/the-cgma-r-finance-leadership-program. CONNECT  If you're on LinkedIn, feel free to connect with show host Kevin Gormley Connect with Matthew at  www.linkedin.com/in/matthew-payze-347195198 or find out more about Collivery at https://collivery.net/ Connect with Stewardt at https://www.linkedin.com/in/stewardt-cornelissen-0b664ab3/ Your feedback and comments welcomed at podcast@aicpa-cima.com This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here.

Mark Koziel, CPA, CGMA, was less than a week into his tenure as AICPA & CIMA CEO when he joined the Journal of Accountancy podcast for a two-part conversation. In part one, published Thursday, Koziel discussed wanting to hear from members about their challenges and success stories. In part two, he talks about how accountants can work with artificial intelligence tools, why he initially was interested in pursuing work with the FBI, and the value he sees in a hybrid work environment for some firms.  Koziel has invited members to send email to AskMark@aicpa-cima.com and "tell me how the Association can help you, your career, and the profession." What you'll learn from this episode: ·         The career-related questions Koziel used to ask fellow CPA firm partners. ·         One aspect of Koziel's preparation to become an accountant that he would have changed. ·         The key things he learned as an employee of the grocery store Wegmans. ·         What he says to students considering a career in accounting. ·         More on how client advisory services have “erupted” over the years.

SponsorsCPA.com - http://accountingpodcast.promo/cpaRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casRho - http://accountingpodcast.promo/rhoChapters(00:00) - Welcome to The Accounting Podcast (00:54) - Chaos Created by Doge (01:32) - Top Stories of the Week (02:17) - Listener Mail and Additional Topics (05:09) - Live Stream Interaction (06:42) - DOJ and Treasury Payment Freeze (17:40) - Young Engineers at DOJ (24:15) - Automation Features for Seamless Transactions (24:44) - Addressing Viewer Questions on Treasury Policies (25:34) - Debate on Federal Fund Vetting and Spending (27:57) - Government Bureaucracy and Political Battles (33:31) - The Role of Young Auditors in Government Agencies (40:38) - Adobe's Tax Tips: Helpful or Harmful? (43:54) - Final Thoughts on Government Efficiency and Partisanship  Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Topics include:  Profession update: Key issues areas of focus for the profession  DC update: Insights from the fast-changing D.C. landscape  Technical updates: Essential IRS news and resources for busy season     Speakers:   Mark Koziel, President and CEO, AICPA  Erik Asgeirsson, President and CEO, CPA.com  Mark Peterson, EVP, Advocacy, AICPA  Melanie Lauridsen, VP, Tax Policy and Advocacy, AICPA  Robert Durak, Director, Audit and Accounting Technical Services – Public Accounting, AICPA Michael Brand, Member, BMSS, LLC

Mark Koziel, CPA, CGMA, was officially just a few days into his role as CEO of AICPA & CIMA when he took time to join the Journal of Accountancy podcast for a conversation that will be shared in two parts. Part one is below, and part two will be published in the coming days. Koziel — named in October to succeed the now retired Barry Melancon, CPA, CGMA — discussed the importance of hearing about the successes and challenges facing members, how he hopes to create communities, and more in this interview. Koziel also invited members to send email to AskMark@aicpa-cima.com and “tell me how the Association can help you, your career, and the profession.” Related links: n  The news of Koziel's hiring, succeeding Barry Melancon as CEO. n  Melancon's words about Koziel in a December podcast conversation. n  Koziel's previous JofA podcast appearance, as part of a 2022 episode when he was the CEO of Allinial Global. What you'll learn from this episode: ·         Three facts for members to know about Koziel, in his words. ·         What he sees as the profession's strengths and opportunities. ·         Why he calls accounting pipeline concerns “not a U.S.-only problem.” ·         Koziel's “listening tour” with members and his request for feedback. ·         More about his ideas for creating communities within the global membership of AICPA & CIMA. ·         Koziel's thoughts on the evolution of the profession. ·         The important distinction between outsourcing and offshoring. ·         A look ahead to part two of the conversation.

Maryellen and Ross delve into the subjectivity and controversy surrounding discount rates, the importance of understanding the asset and forecast inputs, and the application of market participant assumptions.  Including these key takeaways: Subjectivity in Discount Rates: Understanding the significant subjectivity and controversy in determining discount rates. Qualitative Assessments: The role of qualitative assessments in aligning discount rates with associated risks. Resources and Guides: Utilizing available resources to enhance valuation analyses. Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Guests Maryellen Galuchie, CPA/ABV, Managing Director, Advisory Services, Grant Thornton Ross McSwain, ABV, Sr. Manager, Advisory Services, Grant Thornton Host  Nene Glenn Gianfala, CPA/ABV, Vice President – Valuation Advisory Group, Chafe & Associates Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links.  Available for purchase   Accounting and Valuation guides  - Business Combinations 2024 AICPA & CIMA Forensic & Valuation Services Conference - Full conference package Session only:  Determining the Appropriate Discount Rate for Valuing Intangible Assets in a PPA Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuations for Financial Reporting Toolkit - A resource for professionals who prepare valuations for financial reporting purposes From the FVS Valuation Podcast archives Supporting Company Specific Risk and Reconciliation under ASC 805 with Charles Gallman and Ross McSwain Fair Value with Mark Zyla Byteful Insights: Valuing Tech and Data- a conversation with the IVSC  LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com  

In this episode, I speak with Mark Koziel as he steps into his new role as CEO of the AICPA, succeeding Barry Melancon, who led the organization for nearly 30 years. Mark shares his vision for the profession, bringing a global perspective from his experience at both the AICPA and Allinial Global.We discuss key challenges like talent shortages, technology, and regulatory shifts, as well as the importance of community and keeping the profession strong for future generations. From private equity risks to new opportunities, Mark sees every challenge as a chance for growth.Whether you're a CPA, student, or leadership enthusiast, this conversation is packed with valuable insights. Resources:Mark Koziel LinkedIn ProfileJournal of Accountancy article, "Mark Koziel to become CEO of the Association of International Certified Professional Accountants", by Kim Nilsen

In this insightful episode, we break down the fundamentals of long-term finance, exploring the key financing options available to companies—from equity and debt instruments to venture capital and business angels. Learn the crucial differences between ordinary and preference shares, rights issues, and convertible debt, and understand how companies structure their financial strategies for growth.We also dive deep into Earnings Per Share (EPS), the finance vs. operating lease debate, and the essential principles of IFRS 15 revenue recognition. Our discussion includes a step-by-step guide to ensuring compliance with international accounting standards. Whether you're a student, finance professional, or business owner, this episode provides a strong foundation in corporate finance essentials. Tune in now!

Subscriber-only episodeIs profit the only measure of success?In this episode, we explore alternative business models that prioritize stakeholder value over mere financial gains. We kick off with the Mendelo model, a powerful tool for stakeholder mapping, using Green Bean Coffee as a case study. Learn how businesses categorize stakeholders based on power, legitimacy, and urgency to shape effective operating models.Next, we dive into value capture strategies, examining cost, revenue, and value-sharing models—with Patagonia as a prime example of embedding core values into business operations. We also discuss Solar Innovations' use of the #CIMA model for strategic decision-making and reveal how these frameworks can be applied to your career, investments, and personal life.Whether you're a business leader, student, or entrepreneur, this episode will transform the way you view business strategy. Tune in now!

DISCLAIMER: The information in this presentation is provided as education only, with the understanding that neither the presenter nor ENNIS Legacy Partners or GRF CPAs & Advisors is engaged to render legal, accounting, or other professional services. If you require legal advice or other expert assistance, you should seek the services of a competent professional. Neither the presenter nor ENNIS Legacy Partners or GRF CPAs & Advisors shall have any legal liability or responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly, by the information contained in this presentation.============================================“We want you to help you build a business that is sellable and exit successfully on your own terms and conditions.” - Pat Ennis============================================

On this episode, Nicole Graham, Risk Consultant — Aon, and Stan Sterna, Vice President — Aon, the national administrator and broker for the AICPA Member Insurance Programs, discuss identifying high-risk clients and managing conflicts of interest. They share their experiences and insights on professional liability risks, client acceptance and continuance protocols and the importance of maintaining objectivity and ethical standards in the accounting profession. What you'll learn from this episode: Why it's critical to have and follow client acceptance and continuance protocols. How to properly manage a conflict-of-interest situation within a firm. Best practices on termination of client relationships. The importance of having an engagement letter in place particularly when dealing with high-risk clients. AICPA resources Client Termination Practitioner Checklist and Notification Letter Terminate a client relationship by following these helpful practice management reminders and then formally communicate the termination to your client. Say “I do” to engagement letters This podcast centers around the importance of engagement letters for tax practitioners.    Client Continuance Evaluation Tool Tool designed to help CPA firms determine whether or not they should continue working with a client or terminate the relationship.   Transcript April Walker: Hello, everyone, and welcome to the AICPA's Tax Section Odyssey podcast, where we offer thought leadership on all things tax-facing the profession. I'm April Walker, a lead manager for the Tax Section, and I'm here today with Nicole Graham and Stan Sterna. They are both with Aon, and I'm going to let them tell you a little bit about what they do. We're here together recording, which is always exciting to be able to do that in person at Digital CPA in Denver, and they are doing a session called identifying conflicts of interest and high-risk clients. I thought, that sounds really interesting and something our listeners might want to learn more about. Stan, we'll start with you. Tell us a little bit about your background and where you're coming at this session. Stan Sterna: Sure, thank you, April. I have a legal background. I started off practicing law, about 34 years ago, I'm dating myself. My entire career has been defending professional service firms and then an opportunity to take a position with Aon, who is the national administrator and broker for the AICPA Insurance Program, of which CNA is the underwriting partner, the carrier and had worked with Aon for a long time and they wanted me to come over and serve as a risk control consultant for not only the program but also for some of the larger firms as well. I came over about 2016 and I currently advise firms on professional liability risks, cyber risk. I'm also involved in doing presentations like I am here today at Digital CPA and other industry events, writing articles for the Journal of Accountancy, as well as other publications. I like to look at ourselves as risk advisors as not somebody that puts a stop sign up and says, don't do anything or don't do something. It's giving folks in the accounting profession the tools in order to manage the risk while providing services and expanding and growing their practice. April Walker: Nicole, what's your perspective on this topic today? Nicole Graham: Well, I am here to scare everyone just a little bit. April Walker: That's okay. Nicole Graham: But I'm Nicole Graham. I am like Stan, a recovering attorney. I was in litigation practice for almost 18 years. For the majority of that time, I represented professional service firms in professional liability litigation and also disciplinary actions. I did that for a long time and decided to take off the boxing gloves, stop fighting every day, and instead take all those lessons learned and now try to work with firms proactively to avoid some of those pitfalls. April Walker: Let's talk about identifying high risk. High risk could mean different things to different people. Stan Sterna: I think the first thing you need to do, April, is you have to have client acceptance and continuance protocols in place. That's vital to identifying, is this client a right fit? You have to have that process, but as part of that process, you have to identify initially what is the risk appetite of the firm. What is your ideal client? It could be by industry, it can be by size. It could be by geographical location. It could be by the amount of revenue they make if it's a company or income. Identifying what is your ideal client, I think, is the first step. Then you have to not only, and I think this is important, evaluate a client when they're coming through the door to see if it fits the risk appetite at a firm, but also you have to continually and regularly monitor the client and whether or not the client is still a member or still fits within your risk appetite. That's what we call client continuance. Sometimes client acceptance, everybody does client acceptance and might not be in one shape or the other, might not be the best client acceptance. April Walker: It's not formal maybe. Stan Sterna: Everybody's evaluating even folks that don't have written criteria or developed any concrete parameters. In some subconscious level, you're thinking, is this somebody that I want to work with or have as a client? But on the other hand, continuance seems to get short changed, especially in the tax area. One of the things that we've seen when we've dealt with a tax claim is situations where you have a client who maybe doesn't pay on time, or the client is constantly providing information at the last minute, and you're scrambling and you have to get extensions. But yet, when the client came in the door, it seemed like a perfect fit for the firm. You're not re evaluating the situation, whether it's the demeanor of the client, the way they cooperate or maybe just circumstances change with the client that at least should be the impetus for looking at the client and rethinking is this client a good fit for our particular firm? Unfortunately, we've seen a lot of claims in the past, both Nicole and I, where continuance was the issue and not monitoring, is this a potentially high risk client? I think, in the tax area, one of the biggest risk flags or red flags is not paying fees and/or not giving information on time. Unfortunately, when people don't pay fees and they're constantly either slow paying or they want to pay a fraction of it, if you pursue those fees, a lot of clients will turn around and point the finger at the accountant and say, well, there was something that you did that I didn't like, and that's the reason why I'm withholding fees. A lot of them it's a ruse to be frank with you, a client ruse in order to avoid either paying the fees or have some leverage in negotiating the fees. April Walker: Sure. Stan Sterna: Folks people are dedicated to the profession and I'm sure there's a lot of folks out there that absolutely love what they do and they love their clients, but for the most part, people aren't doing tax work for free. This is not a hobby. April Walker: This is not nonprofit. Stan Sterna: You should get paid. We've seen plenty of circumstances in the past where you know it's a problem client. Every time you say, well, I'm in the midst of preparing your returns for this year, I need to get paid from last year, and they'll put it off because they don't necessarily want to get in a situation where they're going back and forth with the client. Some folks will look back and go, well, the founder of our firm brought that client and it's a legacy client, and yeah, they don't pay, or yes, they're always questioning what I'm doing. They always want to, and these are other red flags, take shortcuts when preparing their taxes or giving you incomplete information. Then you continue to say, look the other way and muddle through it and file a return with the best information available. Keep your fingers crossed. April Walker: That's not a good risk plan. Stan Sterna: That's not a good risk risk plan. In that situation, you should really look at that individual. It could be a friend. It could be a legacy client and decide, do we really continue together on this path in a tax preparer client relationship? Is it in my best interest to do that? April Walker: These are good things. I'd like to pivot a little bit now and we'll talk about with Nicole, and certainly a high risk client could be, or another way of looking at it would be a conflict of interest. Talk to me Nicole a little bit about what kind of conflict of interests do you see that are problematic and how practitioners can recognize that, and also, take the next step as far as what do they do if they identify something as conflict of interest? Nicole Graham: A conflict of interest is really just being able to identify and manage situations where there are competing interests or relationships. CPAs are required to maintain and protect their objectivity when they're providing client services. That is paramount to their duties to their client under the code of conduct, and something that we have to protect. Nicole Graham: The way that the conflict of interest comes up is you have clients that could be adverse to one another. April Walker: A divorce situation? Nicole Graham: Correct. Or you have business partners who are going through a business dispute and you represent both of the business partners. We see that a lot. When you look at these relationships and competing interests, you have to ask yourself questions. Am I able to remain objective while providing service to both affected clients, you also need to make sure that you are not putting your personal interest before client interest because there are your own self-interest or the interest of interests that your firm has or that close family members or close friends have that could affect your objectivity in providing client services. This is something that you need to look at when you're evaluating a potential conflict. You should be asking yourself, who are the stakeholders, do I have any personal issues that I need to address or any personal interests? Yes, no. Does this affect a client? For example, do I already represent a competitor in that industry, and would providing strategic insights to these competitors be a conflict? Could it be to the detriment of my other client? These are things you need to look at. If you have a conflict, it doesn't necessarily mean you have to turn away the business, but it is something that you need to evaluate and you need to evaluate it from the beginning. If however, you identify the conflict, you can then proceed with a representation, but you have to meet a little test. If you look at Section, I think it's 10.29 of circular 230, it identifies the ways that you can manage the conflict and still represent the client. You have to have a reasonable belief that you can provide the affected clients with proper objectivity and diligence in the representation. You have to make sure that you're not violating any laws by representing them both and you have to have informed consent and waiver by the client and it must be in writing, and it must be done sooner rather than later. Don't wait till the end of the representation to address it. In identifying how you go about this, we usually refer to it as the ACE framework. Awareness, communication, and exit, awareness, identifying the conflict, and once you identify it through asking yourself these various questions, then you have to communicate the conflict to the client. When you do that, you have to be specific about the potential conflict. You want to make them aware of it, you want to make them aware of the potential implications. You want to tell them your idea for how you plan to manage what guardrails you're going to put in place during the provision of services to protect them. You want to get their consent. You want to get it in writing. You want to document it, and then you also need to keep that documentation. Then if you decide through your analysis though, that the conflict can't be properly managed, that despite all the guardrails you can put in place, you still feel that there is exposure to you or your firm in going forward with the representation, then you should consider not taking on that client or disengaging, you have to eliminate the conflict. April Walker: Very helpful, Nicole. In your ACE framework, E is for exit. We've got exit and terminating the relationship. Nicole Graham: It's really when you're evaluating how to put in different guardrails, for example, can you have separate engagement teams to help both clients who might have competing interests and form an ethical wall? Then you realize, actually, I don't have enough people with the requisite expertise to form two engagement teams. Well, then that means you cannot take on both representations, you're going to have to eliminate the conflict, so you'll have to figure out which of the clients to move forward with and which one to let go. That's one of the most basic ways I've seen firms have to exit from a situation where they didn't have the resources to put in the proper guardrails, like having separate engagement teams. April Walker: That makes sense. Stan, where do you see termination in this risk area, and how do you help your clients with that? Stan Sterna: It's an important part. Like I said, not every client is a good fit for a firm. There's going to be clients that you really shouldn't touch with a 10 foot pole. There is a method to terminating that if you do it effectively, can help mitigate your risk. This is in the context of not only conflicts of interest, but high-risk clients that you don't want to take on. Most claim scenarios involving client termination involve terminating in such a way that the client feels you left them in a lurch, and that there was some deadline that is going to be missed because you left him in a lurch and maybe you didn't tell him about that deadline. That is really, I think, the core focus of claim scenarios involving termination. How do you terminate? Is there a good or is there a bad way? I think there is a good way. Once you make the decision, we need to terminate this client. I'll say April, more and more firms, and I'm encouraged by this, are culling their clients. The way to do that is once you identify this as a client that maybe for whatever reason is one that the firm is no longer going to continue with, what you should do it should be in writing definitely. Claim scenarios involving accountants' liability situations are document intensive. This is not a car accident type of case where there are eyewitnesses, it is going to fall back on documentation. Documenting a letter by a traceable delivery method, whether it's certified, whether it's traceable electronic communication, registered mail, whatever, a traceable delivery system or delivery method that says we are terminating. The ABC CPA firm is terminating the engagement effective immediately returning all original documents to them and then saying in the letter, you have important deadline and it's coming up here. You have to file your returns by this date or you have to file an extension by the state. We'll gladly connect with your successor tax preparer when you identify them and provide them whatever information they need so that they can I'm not going to do any work. But if they need some documents that we have or just want to converse, we'll make ourselves available. Then one thing we always hear from clients is that they want to get into a tit-for-tat with the client. I want to put in the letter everything that I felt they did that made my life miserable. We always advise, don't do that. The termination letter is not an opportunity to go through a give and take, a back and forth with my client. It's not productive. You don't have to do that. You should have a termination clause and your engagement letter says, we can terminate at any time. If you want to put in there because the fees aren't being paid, I would say each side should be allowed to terminate. That's not the point to do it. Plus, when you start arguing facts, facts they're subjective. People have their own ideas and their own version. Another important thing is, I think you should always say there's unpaid fees and that you owe me the outstanding fees because I don't want to give the disgruntled client the opportunity to say, well, obviously you terminated because you did something wrong and you didn't ask for your fees. That's why you didn't really pursue your fees. Saying, hey, it's legitimate work we did. This is the work that's finished. You owe us X amount. I think further buttresses the strength of the termination letter. There is a mitigating way to mitigate risk. Nicole Graham: I just wanted to add a point on when you in your termination letter advised that there are outstanding fees, I would always characterize enclosing your final bill. You don't want a situation where they think paying the bill means that they get to stay on as a client or that they get to argue that. Definitely characterize it as the final bill for services and that making it clear that there will be no further services. April Walker: Thank you so much. Nicole and Stan. This has been a lot of good information for our listeners to think about. Nicole, is there anything else you would like to leave us with as we're thinking about conflict of interest? Nicole Graham: Sure. I think it's really important to have your conflict management practices and protocols in place. You want to make sure that you have your framework really built out and you want everyone in your firm to know what these practices and procedures are and explain to them why they're needed. These are not just for your intake people to go through because during the course of an engagement, these conflicts can change and if you have a conflict that changes, you need to address that with the client because you no longer have informed consent if they don't know that there was a change. That's good. That's why it's imperative that not just your intake people know, but the whole firm knows and understands why you do that. It's important to create a culture where people are aware of their ethical obligations, they feel comfortable raising these questions and concerns to the appropriate channels within the firm. You want to make sure that your tone of the top is really stressing your ethical responsibilities, that there are clear reporting channels for your people to address their concerns with. Really, as Stan said, documentation is so key in these engagements, you want to make sure that your conflict management process is properly documented. You want to have everything documented from when you identified the conflict to however it was managed and resolved, whether it was exiting the engagement with the client and having your disengagement letter or having your informed consent and putting your guardrails in place. That should all be properly documented. Consistency is key because if you have the practices and procedures in place, you need to follow them. Because if you have a deviation from your practices and procedures, that will be exploited by a plaintiff's attorney and you're going to have to answer that in a lawsuit. A good way to have consistency is training and education with your people. Make sure that they are aware you have continuous training and workshops to stress their ethical responsibilities in managing these conflicts. April Walker: I know that when I was in practice, we had a yearly review of the client list and we had to sign and say that there were no conflicts or if there were, we had to address them. I don't know if yearly was sufficient, but that was the message that I heard that it was important. Nicole Graham: I think that's a great idea. I will say, to make it where that exercise doesn't become a check the box exercise for your practitioners, have that statement that they have to sign go out at the same time you're doing the training. So all of the things you're telling them to consider about ethics and conflicts are top of mind when they're reviewing that. April Walker: Makes sense. Nicole Graham: Stan, what's some closing thoughts you'd like to leave us with today? Stan Sterna: Well, I think the first thing I'd like to note is that tax claim severity has been increasing in recent years. I've been doing this a long time and for years, tax claim frequency was and still is the highest. We receive more claims involving tax services than any other service offering and that's not surprising. It's the bread and butter of what CPAs do and accountants do. But we've seen an increase and it's driven mainly by FBAR and syndicated conservation easements, promoting them, lack of due diligence with regard to it and IRS disallowing the deduction and then the accountant gets sued. Those are some substantial damages involved. The other thing is tax is always the lowest service line in terms of use of engagement letters. Obviously, as an auditor, our attest engagements are required to have engagement letters. But a lot of folks and we get a lot of questions from folks or a lot of comments that are tax preparer only and saying something along the lines of, well, I've never used engagement letters or my clients there's no expectation. I've had these clients for years and years. It's monotonous. It makes it look like I'm trying to hide something or cover my bases and all that. It's really not true. You got to look at it this way, and it's an analogy that Nicole and I use a lot when we're talking to folks is you certainly wouldn't have somebody come into your home and do work on your house without a contract, without an engagement agreement, without knowing what they're going to do, what's the limitations of what they're going to do, what is the scope of what they're going to do, how much they're going to get paid, all those things. Why would the expectation be that the client is going to get their tax returns prepared or have tax work done without an engagement agreement? Just doesn't make make sense.  They shouldn't be offended by it. It should just be something that is just as beneficial for them as it is for the CPA is Number 1. Number 2 is that when you're dealing with a high-risk client, one of the first things that we go to high-risk client or not, Nicole can tell you this when we would deal with defending CPAs in a professional liability claim, first thing we would ask for is the engagement letter. Let me see what you're doing, what you agreed to do and with certain clients or with any client? What are your liability limitations that you have in engagement agreement? A lot of folks use and we recommend highly and we have templates of terms and conditions where you can limit the liability. You can have damage caps if the other side agrees to it. You can shorten the statute of limitations. You can pinpoint what venue and what law will apply. A lot of different things to help limit your exposure. It's going to ultimately be the court's decision if you end up unfortunately in litigation as to whether or not they're going to uphold these provisions. Well, I know some will if it's clear and concise, and it's not otherwise boilerplate in the engagement agreement. They'll look at two sophisticated parties, both going back and forth negotiating an engagement agreement. It was pretty clear what the expectation was and everybody knew what was intended. But even if it's not used or the court does not uphold it, we use it claims in defending the claim. In settlement negotiation, you can use it as leverage to say to the other party, you're asking for exorbitant damages. You really need to discount them considerably because I have this cap, let's say, a damage cap in a provision limiting your damages to $10,000. Even in situations where maybe the court didn't uphold the cap, maybe it's subject to appeal, maybe a court just denied a summary judgment motion to limit the damages and said, you know what, we'll let the jury decide later. You can use that as leverage. It's always an argument unless it's dead in the water, unless they dismiss it with prejudice, it's something that you can use if it's subject to appeal or if it's just going to be something they're going to argue at trial as an issue of fact and the court didn't dismiss it. I think those are two critical things that I'd like to tell your audience since we had the opportunity today. April Walker: Those are good. I appreciate you giving us information and I know our listeners will appreciate it. Again, sometimes it's not the most fun topic to talk about or to hear about, but important nonetheless. Stan Sterna: You're right. It's not fun, but it's fun when you avoid a bad situation because you remember something that either you read or maybe something Nicole and I said today, that makes it where you feel like it's well worth it. April Walker: Very good. Thank you so much, Nicole and Stan. The name of our podcast is Tax Section Odyssey, so I like to think about our journeying together, we're journeying together as an odyssey towards a better profession. Just for a little bit of fun, I like to hear from our guests on what their journeys outside of tax are. Just quickly give me if you have a travel, something planned maybe for the holidays or something coming up that you're excited about. Nicole Graham: Well, I'm very excited for the holiday season, but not for traveling, but I'm excited for traveling this winter for the ski season. I will be traveling up to Vermont to go skiing, I'll be traveling locally in Pennsylvania to go skiing, and I'm hoping to make it back out to these parts since we're in Denver to do a little skiing. Unfortunately, I can't tack on any days to this conference. But I'm very excited for the ski season. April Walker: Wonderful. What about you, Stan? Stan Sterna: Well, I'm almost hesitant to say this as a risk advisor, but I'm hoping to have a casualty-free holiday season. I ended up three stitches in my index finger at Thanksgiving carving the turkey, so I'm just going to watch someone else carve it and just eat and enjoy my holidays hopefully casualty-free. I love it. That sounds good. April Walker: Just enjoying without a trip to the urgent care or the emergency room. That's perfect. Thank you again so much. Again, this is April Walker from the AICPA Tax Section. This community is your go-to source for technical guidance and resources designed especially for CPA tax practitioners like you in mind. This is a podcast from AICPA & CIMA together as the Association of International Certified Professional Accountants. You can find us wherever you listen to your podcast and we encourage you to follow us so you don't miss an episode. If you already follow us, thank you so much and please feel free to share with a like-minded friend. You can also find us at aicpa-cima.com/tax and find our other episodes. One of which is an episode specifically about engagement letters with our CNA friends. You can find that and get access to other resources mentioned. Thank you so much and thank you for listening. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscrip

It's not even five weeks into 2025, and already there's a bevy of news affecting tax practitioners. Melanie Lauridsen, the AICPA's vice president–Tax Policy & Advocacy, joined the Journal of Accountancy podcast amid all the tumult to update listeners on several fronts. Lauridsen discussed the latest on beneficial ownership information (BOI) reporting and the Supreme Court, how IRS service might be affected by various executive orders, and what aspects of a new tax bill or bills are being followed closely by the AICPA. One bit of related news happened Thursday, one day after recording. The Senate Finance Committee released a discussion draft, the bipartisan Taxpayer Assistance and Service Act, which includes provisions the AICPA strongly supports. Resources: Melanie Lauridsen on LinkedIn The AICPA's BOI resource center JofA coverage of the IRS rescinding some job offers What you'll learn from this episode: A recap of court cases related to beneficial ownership information reporting requirements. The potential effects of an IRS hiring freeze on tax filing season. The role that retirements could play in future IRS service. Details of the AICPA's interest in proposed Circular 230 regulations. Why tax legislation this year could come in pieces instead of in one bill.

Welcome to the AICPA Personal Financial Planning Podcast, hosted by Cary Sinnett. In this episode, Cary is joined by Brooke Salvini, Chair of the Personal Financial Planning (PFP) Executive Committee, and Oscar Vives, Chair of the PFS Credential Committee. Together, they dive into pivotal advancements in CPA financial planning, including the integration of Personal Financial Planning into the CPA exam, updates to PFP standards, and the evolving role of technology and artificial intelligence in the profession. Key Discussion Points: Introduction and Guest Backgrounds Brooke shares her tenure as Chair of the PFP Executive Committee and the dynamic changes during her leadership. Oscar highlights his leadership role in the PFS Credential Committee and his experience in financial planning since 2007. Major Milestones in 2024 Launch of the new CPA exam featuring Personal Financial Planning topics. Simplified pathways for earning the PFS credential, including express routes for experienced professionals. Outlook for 2025 and Beyond The impact of rapidly advancing technology and artificial intelligence in financial planning. Updated roadmaps to help CPAs incorporate financial planning into their services, regardless of their current practice model. Enhancements to PFP standards to keep pace with the evolving profession. Personal Financial Planning Engagements Redefining financial planning to include services such as retirement planning, tax strategies, and business structure advice. Addressing misconceptions about investment management as a barrier to financial planning. Exciting Developments for CPA Financial Planners The upcoming PFP Advanced Conference, returning in January 2026, blending the best of previous summits and conferences. Resources available at AICPA.org/PFP, including standards, templates, and the updated PFP roadmap for 2025. Resources Mentioned: Visit aicpa.org/PFP for tools, resources, and updates. Understanding and applying the statement on standards in PFP services SSPFPS Pre-Engagement Checklist Explore the pathways to earn the PFS designation. PFS Credential PFS Infographic  PFP/PFS infographic Review the tax and planning calendar for quarterly service opportunities. Digging Deeper with your clients  

In this episode, Brian Davis, owner of One Stop CPA, discusses how technology has transformed the way his CPA firm operates and interacts with clients. Brian highlights the importance of using technology to provide a top-notch, virtual client experience. He shares insights on tools that have enhanced client engagement and streamlined his firms' operations. What you'll learn from this episode: Examples of ways to use technology to enhance a client's experience How remote work and serving clients virtually has worked for his firm The benefits of offering subscription model billing The importance of investing in client education as you introduce new tools and processes AICPA resources Tech stack wars in 2024 | Reimagining Your Tax Practice — With the amount of technology products out in the market, how do they perform in reality? Hear from Jason Staats on the latest products available for practice management and more on this archived Reimagining Your Tax Practice session. Transitioning to a tax-focused CPA financial planner | Reimagining Your Tax Practice — Tax return compliance is continuing to become more of a commodity. Your clients see you as their trusted adviser and ask about a range of topics that affect their financial well-being. In this Reimagining Your Tax Practice archived session, learn more about practitioners who offer financial planning services and how that has impacted their practices. Transforming Your Business Model…Technology — The Private Companies Practice Section (PCPS) is developing tools around technology designed to help firms not only identify elements of their current business model that may be holding them back but also offering solutions to help them adapt in this changing environment. Transcript April Walker: Hello, everyone, and welcome to the AICPA Tax Section Odyssey podcast, where we offer thought leadership on all things tax, facing the profession. I'm April Walker, Lead Manager for the Tax section, and I'm today with Brian Davis. Brian is the CEO of One Stop CPA, which is a firm that focuses on tax, tax planning, and advisory. We're going to hear more about that. Brian, let's start off with telling me a little bit about your firm and how you got started and what you think, are your distinguishing characteristics. Brian Davis: Definitely. Well, excited to be here. Thanks for having me. Definitely, so my firm is One Stop CPA. It's a traditional small firm. We do compliance. I'm a CPA. We do tax compliance, tax planning, we do accounting services. It's a team of five, including myself, some onshore, some offshore. And the thing that I think distinguishes our product in our service that we deliver to our clients is how we deliver it. We use technology and pair it with insights. We pair it with traditional advisory things that we're giving the clients, and we try to give them that feel as if they're getting in person, top-notch experience because all of the clients that we work with are all virtual. So that gives us the ability to work with a remote team. It gives us the ability to deliver the clients nationwide. I think it's a little, I think it's definitely helped me grow business, get me a little bit more work-life balance, all the above. April Walker: All positive things. So for those who are listening, I mean, I think COVID taught us a lot of things - that we don't always have to be in person, although it's lovely to be in person. I love being next to people. But we don't have to be in person with our staff, with our clients. Maybe talk a little bit about that, how you still get that really great relationship with your clients and your staff, even being remote. Brian Davis: Sure, yeah. Definitely. COVID changed a lot within my firm. I went out on my own in 2017. This was pre-COVID. I went out for a lot of the reasons that are popular now, but back then it was not as popular as it's becoming. The commute to work, having to meet in person just to get a tax return signed, mailing off things. All these different things, I saw them as, these are not the values that customers appreciate. They're looking for me to help them do so many other things, save them, strategize on how to lower their tax bill, how to help them grow their business, how to go for an exit one day. I want to sell this, we can have that on a phone call. I could actually deliver even better results to you. I just started to think, before COVID, it was a little bit tougher to sell clients on this service. It was a lot of teaching. You have to tell your client, hey, well, you have to e-sign your returns, so go to your email. And it's like, I'm not used to this. This is not how we do things with our last accountant. After COVID, of course, that exploded. A lot of clients would reach out to us and say, yeah, if you could get this done for us remotely, that'd be great. So from there, I also switched over to the subscription model around  March 2020. When we made that switch because it's hey, well, we want to serve you guys, and we want to give you all the things that you now need to do remotely. So technology is a big part of that. The way you educate your clients, the way they feel. Because you're losing a little bit of the touch when they're not in person. I can't offer you a drink when you come to the office, but there's even things now where you could send a client a gift card. Here's a five dollar Starbucks gift card, so we could out grab a coffee. There's all these cool little ways where you can just make that customer feel so good, even though we're doing it all the time. April Walker: We're going to talk a little bit about while we're here together, talk about technology. So maybe talk a little bit about where you see those biggest friction points with your clients and how you think technology or how you've explored technology helping some of those friction points. Brian Davis: Definitely. I made all the mistakes when I started my firm. I would do compliance-only work. I would do tax prep only, and I would have different segments of clients that I would deal with in different ways. Well, this person likes to sign in person. This person likes to drop off a package in the mail. When you look into this technology, when we look at things as a firm, it's always well, these clients wouldn't adopt it. These clients wouldn't like it. I wouldn't be able to attract these style of clients. But when you meet a client, and you say, hey, this is our portal. This is how we do business. Take a good look at it, give them a free trial, maybe if you're seriously considering them, and then try to do a test. Did you see this message that I just sent you there? Here's a template. Did you get it? Cool. So that's how we communicate. Believe it or not, nowadays, more and more people, no matter their level of skill and technology, if you could simplify it for them, they appreciate that. Whenever I'm looking at new technology, I'm looking for, I love the new features and how I could make all this money using it and save time. But it's also, will the client feel a disconnect or will they feel like I'm throwing them into the tech dark hole? You could lose a good client because they don't feel that personal touch. Even though we're investing in different technologies and moving to greater things that help us on the back end, we also want to at the same time, if not even more important, when you're making sales, when you're delivering, you want to make them feel comfortable with your tools. If your tool is so hard for them to navigate, it's going to create that for them. April Walker: That's right. What are some exciting things that you have implemented lately around technology? Brian Davis: Definitely. Well, I'll highlight two of my favorites. They know that they're my favorites. TaxDome is my client portal that I use. Before TaxDome, I was doing the spreadsheet and notepad method of workflow management, which is not the right way. April Walker: Maybe in Excel spreadsheets. Brian Davis: Excel spreadsheets. Before that and then implementing TaxDome, it helped me map out how I want to grow the team, how I see myself. Like, which task within this job that we're doing, do I want to, one day off load to somebody, so that I could free up more time for myself to do sales, do client services, help people do like advisory one on one because that's where the value is to the client. They don't care if you're in the back turning out bookkeeping and entering in numbers on your 10 key. They want to know the results, and it's the client experience. So TaxDome is great because when I started it, I was slow to implement. I would pick a few clients, test out on myself. I'm a client, too. I would test out my firm's tax return process and say, Hey, what went smoothly? What can we tweak and make better before we go live with this with everyone? But the feedback I would get from clients is this is so great. I love how easy that was. It's on the app. I can download an app. Everybody knows how to download an app. April Walker: Most everybody, yeah. Brian Davis: Most people. If you're going to work with us, you got to be able to e-sign your return. That's one of the things TaxDome makes. I was getting the feedback that clients really like the experience, and I like the back office side of it, which there are other options out there. I just know that doing TaxDome, clients loved it. Another one is spotlight reporting. A lot of clients are used to seeing their QuickBooks reports black and white, ledger. What's more fun than watching that with the client and just going through a list of fixed assets? Here's your security department. They don't want to see that. You got to make these numbers kind of come alive for the clients have a discussion. Spotlight Reporting connects directly to your QuickBooks file, your Zero files, and you can create your own advisory dashboards. A lot of clients I have will ask, well, how I'm I on pace compared to last year? I would say, well, let me run that report on QuickBooks. Let me do the prior year comparison. Now, I have a custom bar chart, and it shows month by month, how you're doing this year, how you're doing versus last year. Another one that I made was a EBITA monitor. It looks like an EKG machine. When I'm showing doctors, hey, this is your EBITA monitor, I say, this is like a heart rate monitor. When you're having these conversations, it's better to have a nice report that you can get them to collaborate with you because there's nothing more boring than reading a report and everybody's just staring at you, and that comes across. Spotlight's another one. When I show people the reports, it's like, this is great. It really answers my questions, and now we could move forward to the future planning conversation where I could make the big bucks with advisory. April Walker: Sure. I want to talk about advisory. Let's lean into advisory. Did you start doing advisory right away, or how did you implement that and what have you seen, the changes and maybe the client satisfaction? I don't want to lead the witness. Brian Davis: Like I said, I made all the mistakes when I started our firm. I was doing advisory, but I wasn't charging for it. I was doing tax compliance. I was charging by the form. This is your form. You need some bookkeeping write-up work. But clients would reach out. Hey, we have some questions surrounding the tax, not necessarily doing the tax return. We have some year-round support questions. We want to go buy a car. What's the best way to do it. I got to come up with a way where I could not just be quick with them in five seconds, get them off the phone. No, I want to actually help you walk through this process. Clients would rely on us for those things. It's not just for the compliance. That's part of why I branded my company one stop, because I want them to feel like it's not just that we're coming to do your tax return and bill you by the form. We're adding that other piece, the advisory, to take advantage of different things. That's under the umbrella of your subscription. Now taking on clients, that's part of the package. You have to sign up for some piece of the advisory and the taxes will come along with it, but you can't do this tax prep. The advisory journey, it's been a journey for me, for sure. It's still, always working on ways to make it better. But things like TaxDome puts them at ease with the compliance part. All your stuff's there. You get audited. You have your forms and your backup. We saved it in a portal. If you want to look at some reporting, we can, support an advisory conversation with these nice cool. People like pretty colors. It's the colors and the pictures. April Walker: Hundred percent that's what I like, too. On that, with this subscription advisory and learning how to charge for that, how has that evolved? Where are you now now with that? Because I feel like that a lot of firms that I talked to just cannot figure it out- cannot figure out value pricing, cannot get away from time and billing, you know, everyone has a different answer, and there's not one right thing. Brian Davis: I mean, the subscription model, of course, it has its little pieces where you, it has to make sense for what you're offering. Just because you subscribe doesn't mean I'm going to go back and do your five years of catch up filings and year to date books. There's also those one time services. Usually when we meet a new client, there's going to be some advisory diagnostic assessment fee. That's just we try to be as upfront about the pricing that we're going to charge them going forward, so we can see do even want to take this client on for this one time service. It's been a journey to get there. As you get more revenue, you can make these decisions. April Walker: A little more picky. Brian Davis: You could be a little bit more picky, but that's been the journey. The price I advertise and go for now is probably 10X what I was thinking in the beginning. Because I was going off of what I think the customers are ready to pay. But if I explain it to them, so you can't just go straight into the pricing conversation. I heard it from the conference before one of the speakers, it's malpractice to just price without a diagnosis. That's one of the medical rules, the medical oaths. We have to diagnose what you're looking for, to put you in the right package. But I do the three tiers of package thing, but the way I do it is I show the big package, the good one. First all the cool features. Sounds great, right? Well, these are the other options, but once I've showed you this one, you're sold. I showed you all the tech that comes with it, and now I start to piece away some of the reporting. Hey, you can't get those cool pretty colors, you want to have that. April Walker: You get the simple quickbooks report. Brian Davis: How can I give you support for those big questions? If you're going through, when I got my start, I got lucky. I got a couple of clients that were in the medical profession that were doing deals where they were getting ready to sell their practices. I got a first hand experience of what a private equity investor would come in and say, Here's our due diligence questions. I said, "Well, you know, half of these are financial statements." I could pull those out. But there's some other things they're asking you that the customer wasn't even tracking. It's these cool reports bring that alive. It shows them, okay? We can support you in more than just getting your taxes and having the financials for the bank and the IRS. We have it so that you can make better decisions and if you're going to add or remove shareholders, this supports that, as well. That's part of the part of the pricing well, as far as pricing, it's all based on what we're including so you got to have your packages premade and a lot goes into that. But one thing I would do is try to not my prices and packages have one name. The name explains  what [it is]. Advanced, starter and small. And there's limited seats on small. We're probably already booked. That's how you propose it to the clients. So you are either going to get one of the two. I'm not going to give them all the options. I'm going to recommend one and if they decide they want the smaller one, well, hey, we'll take them on maybe, and you could grow into the big package. But a lot of times, what I'm seeing, is sometimes I meet with good clients and go through this process, the intake proposal, the discovery assessment, and they realize, no, you don't get this advanced. You're not going to get the results you're asking me for. April Walker: What they really need. Brian Davis: Because it's not a solution that everybody explains and a lot of times when I meet clients, they don't have this. All virtual -  nobody's using the same tech stack as me. It's a little bit of training and education that you're doing. So what I do like about some of these software vendors now, they're working with us accountants to help us sell in. Here's how you can grow your advisory practice and just the idea of it. Well, being that we're talking to just smaller firms, smaller firm practitioners and owners, we undervalue how agile we are. We can implement something, and that could be the start of something great. It's just, you got to do it one software tool at a time, one employee at a time, one customer. April Walker: That brings up another thought I had is, is there a magic time to add a new software or do you not limit that? Brian Davis: I mean, you got to keep an open mind so you're definitely not going to you don't want to keep moving your clients from portal to portal software to software that's a big no no because then they'll look at you like, am I an on the job training client or you know what you're doing. You know, would you move me from this one to this one? Definitely demoing the like I said, if you're doing your own taxes, test your firm out. You could do your own and say, Hey, how do I feel as a customer, or pick a couple of friends or those friend clients and say, Hey, I'm going to send you down this pipeline. How did you feel about the experience? Then I mean, we're small firms. We can implement. Like that spotlight reporting is something I implemented. Immediately, I started to see that customers were reacting well to it, so I put it in my offer in a way. Hey, well, my new customers get this. My old customers, well, I'm trying to tell them hey, this is where we're going. Maybe we'll keep you for this year, but we'll have this conversation and revisit. Hopefully your business grows and you need this. You can't you're not a one even though I have the name one stop CPA, we're not one size fits all. That's the thing you have to educate. It's a lot of proposals and presentations. That's why I like to use YouTube and Loom. They help with I don't have to do a presentation to everyone and lose my voice. I could make a nice intro. Give you the presentation that applies to yours, what I'm trying to talk to you about. Then I jump in on the back end of I mean, big companies do it. April Walker: Absolutely. I'm sure we're going to talk about it a decent amount. We're just getting started at this conference today, but AI. What's your take on it? How are you using it? How has it made your life better or your firm's life better? Brian Davis: Oh, it's made my life better, everything. I mean, we learn how to do recipes on there, everything. You could almost use it for anything outside of that. April Walker: Absolutely. Brian Davis: But AI, I mean, it's great and you have to know it's just like another tool. You have to know how it applies to your firm and how you're using it. Of course, we have to be careful with security and making sure you're not uploading personal data. What I talked about in the session is think about who the customer is. If you're on a free version of ChatGPT, you're the customer. They're using your input to build the model. But if you pay for the workspace, the app it costs a little bit more money, you can control those settings, and now you can get even more advanced with, endless opportunities. I mean, I have when I'm doing video deliveries that, now sometimes I'll do a tax return and I'll send you a Loom video that will kind of answer the questions I know you're going to have so that that way, when you look at it, you're not hey, I got questions, and I'm busy because I'm at digital CPA. Let me show the video, send it to you. I have a script writer that will help me write the script. There's so much different ways you can play around. I mean, I feel like AI is just getting better and better, so I can't say that I'm an expert on it because it's who it is. It's it's such an early stage but it's great. I'm definitely impressed with it. I try to do as much improvement as I can because it's kind of an assistant. We used to go to Google, research different articles, different people's opinions on tax. Now, you could kind of use it as a research assistant. April Walker: To get you started, at least. Brian Davis: Hey, I'm researching these tax things and I have these questions. This is the idea that I want to present to the client. How would you approach that? Of course, I'm not going to just forward that, but it's definitely better to have that with you kind of just to help you out. I see it as another team member. It's like another team member. April Walker: Yeah, we use Copilot. Brian Davis: Well, one way that I'll be using it now, and I got to give a shout out to Automation Town, it's a community that I'm part of with Chad Davis. One thing I even expressed him, I said, well, the Zoom AI summary after I have my discovery call, Zoom gives a pretty decent, recap of the meeting. But I can't just forward that to the client because there's sometimes there's little, I want to put all that. It's kind of look at it before you send anything to a client. Before I start running off tasks to people, I want to put a little bit of, that would be me, something I would go and manually do. I said, well, he kind of laid out a way where you can combine Zoom's AI summary that comes to you by email with a zappier integration that can create a new Google document with action plan, potential action task for the team, a potential agenda recap that you can send to the client. Then pair that with you tell it stuff about your firm. Well, hey, we talked about this, we want offer this afterwards, and now it already knows what you mean. It can get very customized. You just got to play around with it. It's so cool. There's so many different ways people are using it, and you don't have to be any kind of super tech-forward. You can play around with it. April Walker: I think that's right. I mean, just keep in mind the security aspects, and don't put personal information in there, and then just have fun. Brian Davis: Yeah, get those settings right where you're not uploading your life to the cloud. You know, it's analyzing everything, but, once you're in there, I mean, it's helped me design chat messages that I send to clients just enhancing, hey, I want to come across this way because when we're accounting, you wouldn't even want to see some of the emails I used to send to people just to summarize our meeting. April Walker: Oh my gosh I know. Brian Davis: You got to be an accountant to read this but you know, you could say, hey, read this so it's easier to digest. It's great that you could do those. It's pairing it with our knowledge. As accountants, we got so much that we're good at. Now there's these tools that help us out. April Walker: Brian, we've had a great conversation today. I love it. I don't know if you have listened to our podcast before. It's called Tax Section Odyssey. On it, I like to think about taking an Odyssey together, journey together towards a better profession. We'll pip it a little bit to do you have any dreams outside of the world of tax that you have a bucket list or any travel you've got planned that's still there. Brian Davis: No, well, I definitely want to start traveling in the future. Again, before COVID, that was the one thing when I went out on my own, I got to start traveling. That's why I was hooked on, okay, I got to make this firm work because then I could keep doing these trips. My son, he's 11 months now, so when he's starting to walk, he's starting to stumble so when he starts walking, we want to  spend the summer in a different country and those things. I'd love to do that. April Walker: My daughter had a passport before she was two, so do it. Brian Davis: Right. Exactly. Definitely looking forward to some travel, and just building the firm that can run smooth. I don't plan on selling my firm anytime. I do enjoy being an accountant. I kind of lost that love when I was at the firms and having trouble breaking through to the partners - hey, we should do this, there's some tools that we could use to save me time. We have to document every 15 minutes that we're doing. Now that I got out on my own, I saw that there's a better way that you could actually run an amazing firm. I know that there's a shortage of accountants that are trying that are getting into it because it's  seen as this heavy, burdensome job and there's definitely ways you could break through. In the future, you know, just being a part of that, whether it means helping accountants that are kind of coming up in my shoes. I talked to a lot of my friends and fellow CPAs that just  may have met me on a Zoom or something or met me on a community chat or something, and they're just, you know, looking for these tips to help them get out on their own. What is the tech stack you use? What should I maybe start off with?. Maybe some kind of coaching thing where I'm just helping out profession a little bit. That's something like an Odyssey. April Walker: I love that. That's great. On an Odyssey. Brian, thank you so much for joining me today. I enjoyed it. Brian Davis: This is great. Thanks for having me. April Walker: Of course. Again, this is April Walker from the AICPA Tax section. This community is your go to source for technical guidance and resources design, especially for CPA tax practitioners like you in mind. This is a podcast from AICPA and CIMA together as the Association of International certified Professional Accountants. You can find us wherever you listen to your podcasts, and we encourage you to follow us so you don't miss an episode. If you already follow us, thank you so much, and please feel free to share with a like-minded friend. Thanks again for listening. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

DISCLAIMER: The information in this presentation is provided as education only, with the understanding that neither the presenter nor ENNIS Legacy Partners or GRF CPAs & Advisors is engaged to render legal, accounting, or other professional services. If you require legal advice or other expert assistance, you should seek the services of a competent professional. Neither the presenter nor ENNIS Legacy Partners or GRF CPAs & Advisors shall have any legal liability or responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly, by the information contained in this presentation.============================================“We want you to help you build a business that is sellable and exit successfully on your own terms and conditions.” - Pat Ennis============================================

Topics include:  BOI news  DC and profession update   Tax season and financial planning  Key technical updates     Speakers:   Mark Koziel, President and CEO, AICPA  Erik Asgeirsson, President and CEO, CPA.com  Mark Peterson, EVP, Advocacy  Lisa Simpson, VP, Firm Services, AICPA  Dan Snyder, Director, Personal Financial Planning, AICPA

Our guest is Jason Nye, CIMA's Senior Manager in Operations for the UK. Together we take a look at the UK market for Finance & Accounting and provide useful insights for anyone considering this sector as a career.   Jason talks about his background, the market for jobs in the UK, what careers are open to CIMA students, where people can find roles, and how to start studying CIMA. We also discuss what types of companies have CIMA opportunities and how are they structured. Finally we share some employability tips.  Find out more on the UK market at https://www.tiktok.com/@cimaearlycareersuk and https://www.instagram.com/cimaearlycareersuk/           ABOUT US. The CGMA Finance Leadership Programme (FLP) is the online pathway to the prestigious Chartered Institute of Management Accountants' Professional Qualification. Find out more about the FLP at https://enroll.cgma.org/ CONNECT. Get in touch with show host Kevin Gormley via LinkedIn. Connect with Jason Nye at  https://www.linkedin.com/in/cimajason/ Your feedback and comments welcomed at podcast@aicpa-cima.com This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here.

Blake and David explore the controversial H-1B visa program's impact on the accounting profession, particularly how firms like Deloitte reportedly pay visa holders 10% less than U.S. workers and the potential implications for audit quality. They also examine Bench's sudden shutdown and subsequent acquisition and then discuss Barry Melancon's farewell interview with the Financial Times as he steps down as AICPA CEO, where he defended the 150-hour rule, his legacy, and his impact on the profession. SponsorsOnPay - http://accountingpodcast.promo/onpayBoomTax - http://accountingpodcast.promo/boomtaxTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(05:01) - Sponsors and H1B Visa Discussion (11:14) - H1B Visa Impact on Accounting (26:53) - Bench Accounting Shutdown (45:17) - VCs and the Tough Decisions (47:42) - Challenges in Automating Bank Transactions (48:58) - H1B Visa Workers and Financial Misconduct (52:19) - Predictions for 2025 and Beyond (58:12) - Private Equity's Impact on Accounting Firms (01:08:15) - Barry Melanson's Legacy and the Future of CPA (01:15:23) - Conclusion and CPE Credits (01:16:45) - Bitcoin and Quantum Computing  Show NotesRobert Sterling – Twitter - H-1B DATA MEGA-THREADhttps://x.com/RobertMSterling/status/1873174358535110953 Deloitte employees with H-1B visas were paid 10% less than US workers, report findshttps://www.hrdive.com/news/deloitte-employees-with-h-1b-visas-were-paid-10-less-than-us-workers/735162/ Bench to be acquired after abruptly shutting downhttps://techcrunch.com/2024/12/30/bench-to-be-acquired-after-abruptly-shutting-down/ ‘Most important man in accounting' warns against lowering standardshttps://www.ft.com/content/033792af-18e4-4d69-92f9-5b78b01f2012 Meet Willow, our state-of-the-art quantum chiphttps://blog.google/technology/research/google-willow-quantum-chip/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it's not year-end close time. And it's relevant even for those not engaged in the company's closing process – the episodes have something for everyone.In this next episode of our series, we discuss tax accounting and reporting reminders with Jennifer Spang, PwC's National Office income tax accounting leader. We cover a variety of tax accounting and reporting topics, including the impact of recent election results and the associated tax impacts expected in 2025.In this episode, we discuss:2:40 – Anticipated tax implications following the 2024 US election results10:50 – Pillar Two 17:36 – The FASB's disclosure standard 21:58 – Uncertain tax positions27:56 – Inflation Reduction Act credits and valuation allowances32:43 – Advice for year-end income tax accountingFor more information about key developments at the AICPA & CIMA conference, see our publication, 2024 AICPA & CIMA Conference: Current SEC and PCAOB Developments and see our publication, Accounting for Pillar Two: Frequently asked questions for the latest on the topic.Also, check out our other episodes in this miniseries:Year-end toolkit: Audit reminders for preparersYear-end toolkit: Year in review from the corner officeYear-end toolkit: Accounting and reporting reminders for 2025And please follow this podcast on your favorite podcast app for more episodes.Jennifer Spang is PwC's National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 30 years of experience helping companies in a variety of industries navigate complex tax accounting matters.Guest host Kyle Moffatt is PwC's Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

Join hosts Nicole Harger and Adam Olsen as they break down the key takeaways from the 2024 AICPA & CIMA Conference on Current SEC & PCAOB Developments! In this episode, they dive deep into the latest shifts in SEC & FASB priorities, the rising impact of AI on the accounting industry, and the evolving landscape of ESG reporting. Packed with expert analysis and actionable insights, we provide you with everything you need to stay ahead in accounting and finance.

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it's not year-end close time. And it's relevant even for those not engaged in the company's closing process – the episodes have something for everyone. In this next episode of our miniseries, we discuss audit-related reminders for preparers with Brian Croteau, PwC's US Chief Auditor. In this episode we share timely insights for preparers to consider for the year-end audit, which is another important part of year-end accounting and reporting. In this episode, we discuss auditing considerations related to: 3:13 – Key takeaways from the AICPA & CIMA Conference: Current SEC and PCAOB Developments12:06 – Accounting policies and controls20:28 – The execution or modification of significant contracts and agreements23:08 – Complete and accurate disclosures within the financial statements 26:48 – Independence28:54 – Known or suspected fraud or illegal acts 34:44 – AI in financial reportingFor more information about key developments at the AICPA & CIMA conference, see our publication, 2024 AICPA & CIMA Conference: Current SEC and PCAOB Developments. Also, check out our other episodes in this miniseries:Year-end toolkit: Year in review from the corner officeYear-end toolkit: Accounting and reporting reminders for 2025Additionally, follow this podcast on your favorite podcast app for more episodes.Brian Croteau is the US Chief Auditor. He oversees the establishment and maintenance of PwC's audit policies and practices, leads efforts to directly support PwC's audit quality objectives, and plays a key role in the monitoring and assessment of audit quality. He also leads the firm's efforts related to its relationship with the PCAOB, including supporting all aspects of the PCAOB's inspection process. Brian currently serves as a member of the PCAOB's Standards and Emerging Issues Advisory Group (SEIAG) and the SEIAG's Emerging Issues in Auditing subcommittee. Prior to rejoining PwC, he served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC where he played a key role in the SEC's oversight of the activities of the PCAOB, managed the resolution of auditor independence issues and ethical matters, and monitored audit and independence standard setting internationally. Kyle Moffatt is PwC's Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

This milestone episode celebrates 30 years of professional growth and client success, highlighting the dynamic evolution of the financial planning profession and the firm's commitment to innovation and excellence. Five Key Takeaways: The Evolution of a Career in Financial Planning: Growth and succession is vital for a long-lasting impact. Lyle Benson introduces his son Chris. Chris Benson shares his journey from aspiring engineer to CPA financial planner, highlighting the pivotal moments that shaped his career, including his transition from a large CPA firm to the family firm. The Critical Role of Tax Planning: Tax returns form the foundation of the firm's financial planning process. Tax strategy is woven into every aspect of wealth management, creating a seamless, cyclical approach to client service. Fixed Fees vs. AUM Model: The firm operates on a fixed-fee model, aligning services with client value while minimizing conflicts of interest, offering an alternative to traditional AUM-based fees. Technology Transforming the Profession: Advances in technology, such as digital systems and portfolio management tools, have revolutionized client service and firm efficiency. AI is seen as an augmentation tool rather than a replacement for human advisors. The Value of Community and Professional Networks: Active involvement in organizations like the AICPA and peer study groups has provided invaluable support, resources, and growth opportunities for both Chris and the firm. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Innovative Technology for Integrated Tax and Financial Planning Building a financial planning and tax business Investment advisory business models Build your tax and financial planning advisory services PFP/PFS Drop-in Session - February 26, 2025, at 3pm ET Listen to other episodes in the Deeper CPA Financial Planner Connections podcast series. This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Blake and David take a look at several significant developments in the accounting world, including Trump's controversial IRS Commissioner nomination of former Congressman Billy Long. They also dig into updates on the Macy's accounting scandal and explore Square's potential move into accounting software with their new head of Product Accounting Solutions hire. They also share insights from the AICPA's 2024 CAS benchmark survey showing significant growth in client accounting services practices and much more!SponsorsRoboDebit - http://accountingpodcast.promo/robodebitRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casTaxBandits - http://accountingpodcast.promo/taxbanditsChapters(00:28) - Welcome to The Accounting Podcast (00:40) - Digital CPA Conference Highlights (01:17) - CAS Practices on the Rise (02:22) - IRS Commissioner Nominee: Billy Long (03:42) - Employee Retention Tax Credit Controversy (14:45) - Macy's Financial Misstatements (28:30) - Intuit Assist: A Closer Look (29:48) - The Evolution of Bill Scanning with AI (31:25) - AI's Impact on Accounting Tools (33:06) - AI and Tax Returns: The Future of Automation (34:54) - Relay: The Ultimate Small Business Bank (36:19) - Supermicro's Accounting Scandal (40:48) - Square's Move into Accounting Solutions (57:21) - The Rise of Client Advisory Services (01:00:55) - Closing Remarks and Future Insights  Show NotesHe Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S.https://www.nytimes.com/2024/12/06/us/politics/billy-long-trump-irs-tax-credit.html Brainsky Unleashed (Instagram) – Billy Long – December 6, 2024https://www.instagram.com/brainskyunleashed/reel/DDQS_GjRn4P/ Macy's employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources sayhttps://www.cnbc.com/2024/12/11/macys-m-earnings-q3-2024.html Macy's Probe Found Employee Acted Alone in $151 Million Accounting Scandalhttps://www.wsj.com/business/retail/macys-m-q3-earnings-report-2024-c7363662 LinkedIn – Andy Schwartz – Profit Labs Update – December 6, 2024https://www.linkedin.com/posts/andy-schwartz-233b359_profit-labs-update-i-am-excited-to-share-activity-7269157016051298305-rYAW/ Amazon integrates QuickBooks for sellershttps://www.accountingtoday.com/news/amazon-integrates-intuit-quickbooks AICPA and CPA.com Benchmark Survey: CAS Practices Report 17% Growthhttps://insidepublicaccounting.com/2024/12/09/aicpa-and-cpa-com-benchmark-survey-cas-practices-report-17-growth/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsForwardly - https://www.forwardly.com/Client Hub - https://clienthub.app/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Congratulations to Blake for making Accounting Today's Top 100 Most Influential People list!  Today, Blake and David dig into several significant developments in accounting, including a federal court's decision to block BOI reporting nationwide. They also examine which of the 57% of accounting firms plan to raise fees in 2025 and take a look at the AICPA's Experience Learn and Earn (ELE) program. There's also talk about new PCAOB reporting requirements for audit firms and the recent acquisition of Dext by Iris Software Group. SponsorsOnPay - http://accountingpodcast.promo/onpayZoho - http://accountingpodcast.promo/zohoSmartVault - http://accountingpodcast.promo/smartvaultChapters(00:31) - Celebrating Achievements and Social Media Impact (03:16) - Key News Stories: Price Increases and Regulatory Changes (04:17) - BOI Reporting Requirement Blocked (14:21) - Raising Prices in Accounting Firms (17:39) - Experience, Learn, and Earn Program (22:26) - AICPA and Overtime Pay Ruling (30:12) - PCAOB's New Reporting Requirements (34:48) - Debating the Future of Auditing (35:50) - Impact of AI on Auditing (37:21) - Evaluating PCAOB's Effectiveness (38:32) - PCAOB Sanctions and Penalties (45:00) - Macy's Financial Controversy (48:31) - EY's AI Interview Bot (53:29) - AI's Impact on Productivity (58:14) - Dext Acquisition by Iris (01:01:58) - Closing Remarks and Future Topics  Show NotesAccounting Today - The 2024 Top 100 Most Influential People https://arizent.brightspotcdn.com/c3/0f/2649ee17493eab95634bbc91f5f7/top-100-most-influential-people-updated.pdf Federal Court Enjoins Enforcement of the CTA Nationwide; Reporting Companies “Need Not Comply” with January 1 Deadlinehttps://natlawreview.com/article/texas-federal-court-blocks-corporate-transparency-act-halts-nationwide-enforcement Survey Says 57% of Firms Are Raising Prices Next Yearhttps://cpatrendlines.com/2024/11/14/survey-says-57-of-firms-are-raising-prices-next-year/ Experience, Learn, and Earn https://experiencelearnearn.org/ Expanded Access Now Available for AICPA-NASBA ELE Programhttps://nasba.org/blog/2024/11/15/expanded-access-aicpa-nasba-ele-program/ Texas Judge Tosses Biden Overtime Expansion for Millionshttps://news.bloomberglaw.com/daily-labor-report/overtime-expansion-for-4-million-workers-tossed-by-texas-judge Follow up to the "AICPA is illegally hiding salary info on job postings". After several emails, I convinced them to comply with the lawhttps://www.reddit.com/r/Accounting/comments/1g0ib4z/follow_up_to_the_aicpa_is_illegally_hiding_salary/ PCAOB Adopts Auditor Performance Metrics, Increased Firm Reporting Rules https://tax.thomsonreuters.com/news/pcaob-adopts-auditor-performance-metrics-increased-firm-reporting-rules Critics see chance to close down US audit regulator under Trumphttps://www.ft.com/content/e9a7247f-84fd-4df7-8163-6518954470e9 Macy's says employee hid up to $154 million in expenses, delaying Q3 earningshttps://apnews.com/article/macys-accounting-quarter-b1cb0927d9b6a58ee4396838df7973c9 KPMG Survey: AI Adoption Across US Finance Functions Reaches Highest Levels, with ROI Exceeding Expectationshttps://kpmg.com/us/en/media/news/ai-adoption-across-us-finance-functions-reaches-highest-levels.html IRIS Software Group Announces Intent to Acquire Dext Software Ltd.https://dext.com/us/iris-announces-intent-to-acquire-dextNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifieds Client Hub -