Podcasts about Jofa

Jody Grunden, CPA, stands out for more than his brightly colored Hawaiian shirts at accounting conferences and events. Grunden was one of the first firm leaders to embrace remote work, and he remains a proponent of it. His firm also was one of the first to offer outsourced CFO services. In this JofA podcast episode, Grunden reflects on his firm's growth, explains how cultures can mesh during a merger, and predicts where the future lies for CPAs. Hint: It's not in delivering financial statements to clients. In an earlier JofA interview, Grunden discussed not feeling fear when trying something new and explained why Monday is his favorite day of the week. What you'll learn from this episode: ·         The evolution of outsourced CFO service offerings. ·         Why Grunden says remote work “is the way to go.” ·         How off-site retreats helped grow postmerger culture. ·         What “remaining independent” means to Grunden. ·         The future of client advisory services. ·         Why a client's “graduation” should be celebrated.

One popular discussion topic at AICPA & CIMA ENGAGE 25 is the accounting talent pipeline. Liz Burkhalter, the AICPA's director—CPA Pipeline, is taking part in those conversations. On this episode of the JofA podcast, Burkhalter shared encouraging news related to the pipeline and reminded CPAs of how using their “circle of influence” can help to grow the profession. Related resources: n  National Pipeline Advisory Group (NPAG) report with recommendations n  JofA article on announcement of the Pipeline Pledge n  NPAG Pipeline Pledge landing page n  This Way to CPA landing page n  Next Stop: CPA podcast home page n  AICPA Student YouTube channel What you'll learn from this episode: ·         Two hot topics at ENGAGE related to accounting talent, according to Burkhalter. ·         The link between artificial intelligence and more attractive accounting opportunities ·         “Exciting” news related to student enrollment in accounting. ·         The reminder that established accountants can play a key role in helping address talent issues. ·         A summary of resources to assist members who want to get involved.

Sentiment about the U.S. economy and CPA decision-makers' organizations continues to decline in 2025. Second-quarter results released Thursday by the AICPA and CIMA show a rising percentage of pessimists and more concern about the affects of tariffs. To analyze the results further, the JofA podcast welcomed back Ken Witt, CPA, CGMA, associate director–Management Accounting Research & Development. In last quarter's Economic Outlook Survey, half of respondents were optimistic about their company's outlook for the next year. This quarter, that percentage dropped to 37% — and it's not the only area in which there is a decline. Related resources: n  JofA article on how finance leaders are countering tariff volatility. n  The AICPA and CIMA's tariff resource center. n  The previous quarter's podcast discussion with Witt. What you'll learn from this episode: ·         The declines in domestic economic sentiment and own-company optimism. ·         Where optimism about the global economy stands. ·         Changes in the list of top challenges facing CPA decision-makers. ·         The “big topic” in this quarter's survey. ·         An assessment of the impact of tariffs on respondents' business planning. ·         A summary of respondents' 12-month projections for revenue, profits, and spending.

Note: This episode was recorded on Wednesday, May 21, 2025, prior to the House of Representatives vote early Thursday morning May 22, 2025 — 215 in favor, 214 opposed, 1 voting present. See this Journal of Accountancy (JofA) article for updates on the bill that occurred overnight prior to the vote. In this joint episode with the JofA podcast, host Neil Amato discusses with Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the AICPA, the AICPA's perspective on several aspects of the budget bill that was voted and approve by the House of Representatives in the early morning hours of May 22, 2025.   What you'll learn from this episode: ·       An explanation of the pass-through entity tax (PTET) state and local tax (SALT) deduction ·       Some of the AICPA “wins” in the legislation ·       The top concern from a survey of members just after tax filing season ·       The definition of “fractures” AICPA resources 2025 Tax Reform Advocacy  — AICPA tax advocacy efforts on current developments on the tax changes that Congress is considering in 2025, including the expiring provisions of the Tax Cuts and Jobs Act of 2017 (TCJA). Planning for tax changes and tax reform — CPAs need to not only brace for tax law changes such as the Tax Cuts and Jobs Act (TCJA) and expiring provisions but also be proactive in planning for them. FAQs on Tax Reform via Budget Reconciliation — Tax reform FAQs that explain the budget reconciliation process, legislative timing, key issues and practical tips for CPAs.   Tax Section news and member FAQ — Get the latest tax news, a digest of key tax topics and commonly asked questions about resources and benefits.

This week's episode is a mix of CPA-centric news and a Q&A with a leader in the profession. First is a summary of the House Ways and Means Committee's tax bill, the AICPA's reaction to some of its provisions, and an update on paths to CPA licensure. Danielle Supkis Cheek, CPA, is the guest on the main segment, discussing how accountants can avoid head-spinning dizziness when it comes to artificial intelligence (AI) — and why the profession is well suited for technology adoption. Supkis Cheek, senior vice president–AI, Analytics and Assurance at Caseware, also discusses how organizations can use AI to scale operations. Finally, citing a set of criteria from Digital CPA speaker — and JofA podcast guest — Alex Dorr, Supkis Cheek rates the amount of drama she brings to the workplace. What you'll learn from this episode: ·         A summary of top JofA news items from earlier this week. ·         Why conference speakers on AI topics have a hard time providing timely slides for sessions. ·         The importance of the evergreen nature of accounting standards. ·         Supkis Cheek's explanation of professional skepticism's role in harnessing AI. ·         Detailing the public expectation gap as it relates to audits and technology. ·         Why Supkis Cheek considers the AI era a curation age instead of a technology age.

Sarah Ference, CPA, an author of the JofA's Professional Liability Spotlight column, returns to the JofA podcast to discuss recent column topics and the advice CPAs can gain from them. In the previous episode focused on Professional Liability Spotlight content, Ference detailed the January topic of risk management mantras. The articles discussed in this episode include: n  February: “Retired Partners: A Liability Risk?” n  March: “The Risk of Providing Unintentional Financial Advice” n  April: “Should I Disclose My Use of Gen AI to Clients?” In addition, Ference described the May column topic and several upcoming topics. What you'll learn from this episode: ·       The importance of considering the client's perspective related to disclosure of generative AI use. ·       An explanation of the concept of apparent authority. ·       Why guardrails are needed for retired partners who might still maintain an office at a firm. ·       How casual conversations with clients can expose a firm to risk. ·       A theme for upcoming Professional Liability Spotlight columns.

The latest Journal of Accountancy podcast episode is a wide-ranging conversation with two likely familiar names to listeners. April Walker, CPA, CGMA, AICPA & CIMA lead manager–Tax Practice & Ethics, and author John Garrett joined the show to discuss employee engagement in the hybrid and remote era, the importance of sharing and asking about hobbies, and why they are less likely these days to carry business cards to events such as conferences. Walker is the host of the Tax Section Odyssey podcast and the Reimaging Your Tax Practice webcast series. She has also been a host of tax-focused episodes on the JofA podcast. Garrett is a speaker, corporate consultant, and former Big Four accountant-turned-stand-up comedian. In previous episodes of the podcast, he has shared presentation tips and explained why our passions are essential to work success. What you'll learn from this episode: ·         Reviewing the concept of “bringing your whole self to work.” ·         Why, in Garrett's mind, employers should “value the worker as much as you value the work.” ·         Should you start a virtual team meeting with an icebreaker question? Why Walker says “yes.” ·         The speakers' opinions on business cards. ·         Words that could create “stronger and deeper connections” on a business card. ·         Why we should “shine a light” on outside interests.

In this Journal of Accountancy-branded podcast, a senior wealth strategist and managing partner share advice on how to initiate conversations with business clients about transition and succession planning.

David Zweighaft, CPA/CFF, is a co-author of this quarter's Eye on Fraud report, focused on financial tracing. Zweighaft joined the Journal of Accountancy podcast to discuss details in the report and share stories from his more than 30 years of experience in the field of forensic accounting. The discussion delves into particulars of the quarterly report and mentions an infamous municipal fraud case, which was one topic mentioned in a 2023 JofA podcast episode. Resources n  FVS Section home page n  CFF credential information page n  Eye on Fraud report for the first quarter of 2025 n  Understanding the Forensic Technology Landscape What you'll learn from this episode: ·         Zweighaft's definition of financial tracing. ·         Why human skills such as interviewing can be differentiators even as technology speeds up some tasks. ·         Some of the core accounting and auditing skills that apply to financial tracing. ·         The difference between direct and indirect financial tracing. ·         Details of the United States v. Melissa King case, a focus of the Eye on Fraud article Zweighaft co-wrote. ·         The value of hearing other professionals' stories in financial tracing.

Today's daf is sponsored by Devorah & Binyamin Radomsky on the occasion of the Bat Mitzva of their daughter Tamar.  Today's daf is sponsored by Daphne Lazar Price "Excited to meet fellow Daf learners at the upcoming JOFA conference in NYC!" The verse describing a rebellious elder in Devarim 17:8 is extrapolated in a braita, explaining what types of cases could lead to a rebellious elder situation, as well as other related issues. Three different opinions are presented regarding what categories of disagreements would cause a rebellious elder to incur the death penalty: disagreement about Torah law, disagreement about matters punishable by karet, or about a rabbinic interpretation of Torah law, or even a very minor point of interpretation. How do all the cases in the previous braita align with Rabbi Meir's opinion that a rebellious elder can only be liable in a case that involves a prohibition punishable by karet?

Today's daf is sponsored by Devorah & Binyamin Radomsky on the occasion of the Bat Mitzva of their daughter Tamar.  Today's daf is sponsored by Daphne Lazar Price "Excited to meet fellow Daf learners at the upcoming JOFA conference in NYC!" The verse describing a rebellious elder in Devarim 17:8 is extrapolated in a braita, explaining what types of cases could lead to a rebellious elder situation, as well as other related issues. Three different opinions are presented regarding what categories of disagreements would cause a rebellious elder to incur the death penalty: disagreement about Torah law, disagreement about matters punishable by karet, or about a rabbinic interpretation of Torah law, or even a very minor point of interpretation. How do all the cases in the previous braita align with Rabbi Meir's opinion that a rebellious elder can only be liable in a case that involves a prohibition punishable by karet?

Nina Chmura, CPA, a partner at the firm Withum, was a co-presenter with two other CPAs at Digital CPA in Denver on the topic of firms growing their client advisory services (CAS) offerings. The title of the session: “How to Be the CEO of Your CAS Practice.” Speaking from the conference site, Chmura detailed some of the keys to CAS success in this Journal of Accountancy podcast episode. Chmura also reflected on her career journey. She is a 2012 graduate of the AICPA Leadership Academy, calling the experience “life-changing.” Chmura also found value in being part of a panel of guest editors for the May 2017 issue of the JofA. What you'll learn from this episode: ·       The focus on metrics — identification and evaluation of effectiveness. ·       How the CAS advice and themes apply to her role at Withum. ·       The link between satisfied advisory clients and happy employees. ·       Identifying which KPIs are truly key to success. ·       Chmura's surprise about being asked to be a JofA guest editor in 2017. ·       More on her advice about identifying personal KPIs.

Jennifer Wilson, the CEO of ConvergenceCoaching LLC, co-presented a session at Digital CPA in Denver that addressed talent and leadership differences in remote and hybrid work environments. In this podcast episode, Wilson, who also served as the independent facilitator for the National Pipeline Advisory Group's (NPAG's) work in addressing the accounting talent shortage, discussed some of the differing points of view that managers and employees have about remote work. She also emphasized the importance of telling a better story about accounting — one of NPAG's recommended strategies for rebuilding the pipeline. Also in this episode is a mention of two recent news articles that affect CPAs. First is the news of beneficial ownership information (BOI) reporting requirements being in effect again after a court order. Second, the JofA reported on cuts in the IRS workforce. What you'll learn from this episode: ·         The “consternation and angst” in discussions about in-office vs. hybrid or remote work. ·         Why Wilson said that managers shouldn't use the word “back” when talking about where work gets done. ·         Who bears responsibility for an individual employee's learning and skill development. ·         The key to unifying teams in an era of dispersed workforces. ·         Wilson's hope for the profession in the coming year. ·         A recap of recent JofA news articles about BOI reporting and the IRS.

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.

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.

Risk management, in the words of Sarah Ference, CPA, doesn't have to be overly complicated or time consuming. “It's really a mindset,” said Ference, an author of the JofA's Professional Liability Spotlight column and the guest on this week's episode of the JofA podcast. Ference shares several risk management maxims that have resonated with her – ones that are the focus of the January column, Risk Management Mantras to Add to Your Daily Practice. In addition, Ference details the topics in some previous Professional Liabillity Spotlights: n  October: 10 Tips to Help Avoid Wire Fraud Scams. n  November: Missed Due Dates: Diligence and The Lurking Danger. n  December: How to Not Lose Sleep Over NOCLAR. What you'll learn from this episode: ·         Some of the risk management mantras that stand out to Ference. ·         The difference between being friendly and objective with clients. ·         The answer CPAs should give to the question “Who's your most important client?” ·         Why Ference says that being a natural helper can get in the way of a firm's best interests. ·         Explanation of the mantras “trust your gut” and “take the high road.” ·         Highlights of other recent JofA Professional Liability Spotlight columns.

Massive mailbag time! The San Jose Hockey Now Podcast takes on all your questions…four hours worth! Beast asked: Do the San Jose Sharks regret signing Sam Dickinson so early? Because if they had waited for longer, he could be NCAA-eligible next year. (1:46) Grand Nagus Shark asked: Could the Sharks loan CHL prospects like Quentin Musty to European pro leagues? Chris asked: What does the future hold for Bordeleau and Gushchin? Scott Z asked: “Any chance one or both of Macklin Celebrini or Will Smith gets sent to the Barracuda after the NHL season?” (20:40) Jan “Yon” asked: Could Kunin or Goodrow get traded? Nick Valderrama asked: What would your asking price be at the Deadline for Granlund, Jake Walman, Cody Ceci, Mario Ferraro (42:35) or Nico Sturm? Also, which current/retired Sharks player would you most want to ADD NEXT to Keegan on the pod? (55:16) splash114 asked: When do the Sharks move on from Jan Rutta? Embrace_the_rebuild asked: What is your prediction for Kostin, Zetterlund, Kovalenko, and Mukhamadullin? Fin Coe asked: “Two areas where Mike Grier's team seem to have excelled so far are talent evaluation and goaltending development; are there any other areas that they seem particularly stronger or weaker on?” (1:11:05) “Also, who in the bottom-six deserves to still be playing here after the Trade Deadline? After the season ends?” Zeke asked: “Which younger players do you think it's time for the San Jose Sharks to cut bait with sometime this season or off-season?” (1:25:55) FaultySynapse asked: “Who would be some free agents the organization should target this off-season? One unlikely dream scenario pick and one realistic possibility?” Scott Stephens asked if the Sharks will be looking at a big-name free-agent D.  Douglas Fowler asked: “How long do we control Celebrini and Smith, and when do you foresee a long-term contract happening?” Also, when do we project Dickinson to make the NHL? (1:45:35) Bob Horenstein asked: “You know a lot about hockey and details. What's your background?” (1:47:42) Ricky W asked: “Do you think Mike Grier could use Eklund as a trade piece if a great opportunity presents itself?” (1:58:52) Sven_ asked: “Would you trade Eklund and Granlund for Elias Pettersson?” Stephen Akerson-Nagy asked if Macklin may get homesick for Vancouver in his career. Ryan Martinez asked about Dickinson getting AHL time this year. (2:07:20) Lincoln Race asked why Goodrow keeps getting played? Andrew Maloata asked why Ferraro and Ceci keep getting played? James R asked: Which current Sharks D are here for the long term Also, “beyond Askarov, any Cuda players you think will play meaningful minutes for the Sharks in the second half?” (2:30:48) Eric asked: Seeing how the San Jose Sharks have drafted under Grier, do you think their 2025 Draft top-five is, in order, Schaefer, Misa, Hagens, Martone, and Jackson Smith? Nimrod asked: What would Šimon Nemec cost the Sharks? Blue Science asked: What are some team micro-stats for where the Sharks are at right now? Joe Epstein asked: “Could Luca Cagnoni have a ‘Dan Boyle' type of true ceiling?” (2:44:13) Tejus Govindjie asked: “Bold prediction for 2025 Sharks? Can be for latter half of this season, off-season, or beginning of next.” Megabite thinks Celebrini is getting too much coverage and exposure. (2:51:45) Stephanie K asked: Should the Sharks use Celebrini's Calder Trophy chase as motivation? What would you be willing to trade to get Rasmus Anderson? Kevin asked: “Is there a reason the lines are different every game?” Lina/Leonard/Steven Stoker/Austin Dias all asked about Logan Couture. (3:06:55) Alex Genadinik: If the Chicago Blackhawks got the No. 1 pick of the 2025 Draft, would they go forward or defense? “What's the level of James Hagens in terms of comparing him to other top recently-drafted centers like Bedard or Celebrini,Will Smith, Fantilli or Carlsson?” Ben Gardner asked: Eklund, Clarke, and Guenther went No. 7 through 9 in the 2021 Draft…have Clarke and Guenther moved ahead Eklund in projected ceiling?  Fred Azevedo asked: Could an NHL team bring the ECHL back to Stockton? (3:22:12) matthias893 asked: “Any word on Gannon Laroque?” Gary To asked: What's one thing that Celebrini, Smith, and Mukhamadullin each need to work on to push them to the next level? Sharksmustbealways asked: “What's the panic level with Georgiev?” Falco5 asked: How often do you hold back info and opinions because you are concerned it might hurt your relationship with current players? Alaskanice asked about our best and worst in-person game experiences. timorous me asked Sheng about his favorite food on the road and Keegan about his Sharks fandom. el gato joe asked: Have you gotten players' thoughts on CTE? (3:42:30) CeleBeauty asked about the WJC, Dickinson's play, and 2025 draft eligible tourney players. Mabel Trager asked if Vlasic's Jofa chest pads are older than Celebrini. Meetyourmako asked what is the faceoff probability stat? Tony De Matei asked: “I know there are different types of sources ... I guess my main curiosity is what is their incentive to be a ‘source'?” (3:55:40)

It's no secret anymore: Barry Melancon, CPA, CGMA, is retiring as CEO of AICPA & CIMA. He was first named CEO of the AICPA nearly 30 years ago, and he leaves the now global organization with a legacy of change. His last official day is Dec. 31, and Mark Koziel, CPA, CGMA, is his successor. In this episode of the JofA podcast, recorded earlier this week at Digital CPA in Denver, Melancon explains why he's not counting down the days of his tenure, why there likely will be more recreation in his future, and why he expects he will “still wake up every day and think about the profession.” What you'll learn from this episode: ·         Why Melancon hasn't been counting the days until his tenure as CEO ends. ·         His “stellar” assessment of how he will transition into retirement. ·         His relationship over the years with incoming CEO Mark Koziel, CPA, CGMA. ·         The “unsettled” nature of the world and how accountants can help. ·         Why Melancon prioritized the profession and the members before thinking of the organization. ·         The “humbling” messages he has received.

The potential for less regulation is one factor driving optimism among CPA decision-makers in a quarterly survey, according to Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development. Witt joined the JofA podcast to discuss fourth-quarter results of the Business and Industry Economic Outlook Survey — statistics that were dramatically different from the third quarter. The executives are mostly optimistic about the domestic economy in 2025. They also have a brighter outlook as it relates to their own organizations, although that increase since the third quarter was more muted. What you'll learn from this episode: A breakdown of the quarter-over-quarter change in optimism. What challenge returned to its familiar top spot in this quarter's survey. The reasons that optimists and pessimists feel the way they do, according to Witt's analysis. The hiring outlook for 2025.

In this joint episode with the JofA podcast, host Neil Amato discusses with Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the AICPA, what tax practitioners can expect regarding tax legislation. The conversation covers key tax topics following the 2024 election, including the future of the Tax Cuts and Jobs Act (TCJA), beneficial ownership information (BOI) reporting, and disaster relief efforts. Melanie provides insights into the challenges and opportunities facing tax professionals in 2025, emphasizing the importance of staying informed.   What you'll learn from this episode:  The latest updates on disaster relief for BOI reporting.  Melanie's insights about the potential future of the TCJA provisions.  How IRS funding might be impacted by the new administration AICPA resources   Planning for tax changes – CPAs need to not only brace for tax law changes such as the Tax Cuts and Jobs Act (TCJA) and expiring provisions but also be proactive in planning for them.   Tax Advocacy – Advocacy is a core element of our purpose and value proposition. It is a strong mechanism for promoting trust and confidence in the CPA and CGMA credentials around the world.   Transcript April Walker: Welcome back to the AICPA's Tax Section Odyssey podcast, where we offer thought leadership on all things tax facing the profession. I'm April Walker, lead manager from the Tax section, and today we have a joint episode with the JOA, providing information on several important tax topics, such as BOI, disaster relief, and also upcoming potential tax legislation. Let's hear more. Neil Amato: Welcome to the Journal of Accountancy podcast. This is Neil Amato with the JofA. This episode is a special collaboration between the JofA and the Tax Section Odyssey podcast. It's Nov. 19 as we're recording, two weeks since the 2024 election. With the election over, we have results. We also have questions about the future of several tax topics. Here to provide some analysis and clarity on those topics is Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA. Melanie, welcome back to the podcast. Melanie Lauridsen: Thank you for having me back, Neil. Amato: We talk pretty regularly, pretty much a quarterly basis. It's safe to say that even if we keep this discussion fairly narrow in scope, there is plenty to discuss, so we'll get right to it. I'm going to tease for the listeners that there will be discussion of the future of the Tax Cuts and Jobs Act. But first, I'd like to ask about BOI reporting, beneficial ownership information reporting, as that's been in the news lately as well. What's the latest from your lens, the advocacy lens, on the topic of FinCEN's disaster relief for BOI? Lauridsen: Good topic, Neil. Disaster relief is something, regardless of what it is, whether it's tax or BOI, it is critical that people are able to get it as quickly as possible in the largest scope possible. With BOI, we are grateful that FinCEN did offer disaster relief for victims of various hurricanes, most notably Hurricane Milton and Hurricane Helene, which created quite a bit of damage to the areas they hit. But, unfortunately, the scope of the relief, particularly for those victims of Hurricane Helene, is not as broad and as encompassing as we would have liked it to have been. They did offer a filing relief for those victims. However, they didn't extend it to entities that had been created prior to 2024 and therefore had a Jan. 1, 2025, deadline. We know that [for] some of the entities, it took everything away. It destroyed everything, and those entities have years to rebuild, and they really could use an extension. With that in mind, we are actually working with various state CPA societies, and we are also working with FinCEN in order to broaden the scope that was issued, in particular for victims of Hurricane Helene. Of course, we are working with people on the Hill because there are a lot of questions around the Corporate Transparency Act and BOI reporting to begin with, much more so also with disaster relief that they would like to see some expansion of the scope, too. Amato: Yeah, and on that topic of the reports that are in versus the reports that are expected, it's still a pretty small number. I know people like to do things at the last minute, but it's something like 6.5 million of 32 million, so still a long way to go. Lauridsen: There is an awareness issue there, and FinCEN is highly aware that there is an awareness issue because, like you said, 6.5 million filings of 32.6 [million], there's a little bit of a disconnect, especially when we're in November. So we're talking there's a month and a half to file to meet those other — what is it? — 20-plus million filings that we have to go in 1½ months? I don't think they're going to be able to meet those numbers, so, yes. But a couple of things to note about that 6.5 million. Of those 6.5 million, the majority of those filings are for entities that were created in 2024 and had that 90-day deadline, and also for the 30-day corrected and updates that are needed, and that's the 30-day deadline needed. A lot of the existing entities, those that were created prior to 2024, still need to file. Now, FinCEN realizes that their numbers are not where they want them to be, and they are now focusing on awareness and not so much on enforcement. But they are, like I said, making pushes for awareness, and they were even on our AICPA Town Hall, so you can look at the archive there because we did host Phil Lam for that. But also, the other day, I was watching national television, and I saw one of their commercials. I just about fell out of my seat. I didn't think the messaging was as clear as it could have been, but they are trying to make efforts there. Amato: Was this the coffee shop ad that you saw? Lauridsen: Yes, it is. Amato: We wrote about that earlier this year, that the outreach had begun. But still, I guess, a ways to go on that topic. Let's look ahead to one item that was popular at the tax conference. It's popular in the news headlines, and I know it's something you're paying attention to: the Tax Cuts and Jobs Act. It's a very open-ended question, but I'll ask it anyway: What's the future of the Tax Cuts and Jobs Act? Lauridsen: Well, Neil, we would all love to know exactly what the future is. But, the Tax Cuts and Jobs Act, it's interesting because a lot of people said prior to the election, we always knew that tax was going to be on the agenda. People were saying that, it all depended on if it was Democrat or Republican that ended up taking the presidency. Ultimately, the same topics are at stake. TCJA was always something that was going to be debated and discussed, regardless of who ended up being in office and who will be in office. The difference is we definitely know that President-elect Trump would like to see TCJA provisions become permanent. Now, the reality is all those provisions cost money, and there are real dollars associated with it. Even though we are going to be seeing in 2025 the trifecta effect, where the Republicans have swept across the board, it doesn't mean that everybody is in line with the same provisions, and therefore it doesn't mean we know exactly what will be coming. A lot of what is to come becomes an argument of how much things cost and how much things don't cost and what can be included and what can be agreed on. The debate is still very much alive as to what will happen with TCJA. I think, this is my pure speculation, I think we're going to see a hybrid of all the things that are there and not necessarily everything becoming permanent. But who's to say? Things could absolutely change. Amato: Do you want to talk about any of the particulars within that, for example, the SALT cap, estate tax policies, the future of the corporate tax rate? Lauridsen: All of those pieces are very interesting. The SALT cap, let's start with that one. The SALT cap, we have heard that they would like to eliminate the SALT cap. On a personal level, sure. I would love to see that go away. I know quite a few people feel that way about it. But the reality is that it costs money. Right now, the SALT cap at the $10,000 cap is a revenue raiser, and it helps pay for other aspects of it. If they were to eliminate it, that will cost a lot more money than what is anticipated. If we were to see a change, again, this is pure speculation on my part, obviously, we have to wait and see how things play out and what indicators we see. Right now, we haven't seen any specific indicators, but I wouldn't be surprised if the SALT cap ends up being raised slightly, not completely eliminated because, again, it costs money to eliminate it. Amato: OK, state tax policies next. Lauridsen: You said estate? Amato: Estate. Sorry, estate, not state, as opposed to state and local tax. Now, estate tax. Lauridsen: With estate tax policy, there's definitely a desire and a will to see the cap also eliminated because with TCJA, after TCJA, it will cut in half of what we're seeing. Who knows what we'll see in that play. Again, it costs money to be able to have no limit for estate tax planning purposes. I do think like the SALT cap we're going to see something come out in the middle. Maybe it'll maintain, maybe it might increase, but completely unlimited — I don't see that happening, either. Amato: Then finally, the corporate tax rate as it relates to the TCJA. Lauridsen: The corporate tax rate, that is definitely something that has been discussed. We have heard during the campaigns from President-elect Trump that he would like to lower the corporate tax rates, but please keep in mind that the current corporate tax rates in TCJA, again, they cost money. What is paying for those corporate tax rates are those small business provisions that we would like to see come back. For example, Sec. 174, the R&E expenditures. We would like to see that 100% bonus depreciation. We would like to see that come back, but those are some of those provisions that pay for that lower corporate tax rate. Of course, there's the [Sec.] 163(j) interest expense deduction and Sec. 199A, the qualified business income. Again, all those pieces come into play into that corporate tax rate because, technically, those are the pay-fors for that corporate tax rate, so it's a handoff. Amato: Good description of the pay-for aspect of it. Anytime there's a change in administration, I guess the IRS funding topic comes up. The IRS has said many times that the funding it received under the Inflation Reduction Act was helping it provide better service. Now, I guess that funding is going to be up for debate. What do you see as the future there? Lauridsen: Well, that is definitely something. The funding for the IRS, specifically, the Inflation Reduction Act, the IRA as we call it, is something that we are definitely going to keeping an eye on because, if you take a look at the Inflation Reduction Act, the majority of the money, $80 billion — that was allocated towards enforcement. Now there was a piece that was allocated to IRS services, and it is that piece, that portion where we've seen the increased answering of the telephone, the hiring of people at the IRS to be able to provide services with that. Now, we know that that particular funding for IRS services from the Inflation Reduction Act is set to run out by 2026. If the money runs out, what do you think will happen? We'll see decreased IRS services. The way we're looking at it is we do know there is interest in clawing back the Inflation Reduction Act funding and, specifically, for the enforcement piece of it. Our position is, well, let's not take it away from the IRS. Let's rebalance it and shift it over to services. One thing to note, though, is enforcement is a critical function of the IRS. Not everything under enforcement is audits, liens, and levies — all these things that people don't want to see happening. There are pieces of enforcement like Chief Counsel's Office that is covered under enforcement, and Chief Counsel are the ones who provide the regulations and those guides, the guidelines to people in order to be compliant with their taxes. It is a critical function of the IRS. Now, do they need as much as they got? I would venture to say and would like to see some of that money going from enforcement to IRS services and not necessarily clawed back. Amato: That's great. Now, I said we're two weeks since the election. We're also about one week since the AICPA & CIMA National Tax Conference. I know you were there. I know you were busy yourself, but maybe, as you interact with members, as you interact with people in Washington, if you could then look ahead to 2025, what do you see as challenges that are tax-related and also opportunities for the new year? Lauridsen: Some of the challenges that our people have, and we've actually done some informal surveys, too, and the results are the same and we're seeing this trend. There's a lot of growing concern with new legislation coming and, in particular, retroactive legislation or midyear legislation, which makes it particularly hard for members to be able to keep up with it. Retroactivity doesn't help because then you have to amend returns if you already started down that process. Of course, with both last-minute legislation and retroactive legislation, you have to keep on top of the tax changes. Now, you should do that on every given year, but when they do it retroactively or midyear, it makes it particularly hard when you're in the middle of filing season. That is one of the biggest challenges that our members are concerned about. Also, with new legislation, that means we are waiting on guidance from the IRS. The IRS [process] can be very time-consuming in looking at the rules to able to provide guidance. Again, people just want to be compliant. People aren't trying to get out of it. They just want to be compliant, and they need some guidance. That's another concern that we see there. Of course, other challenges that we're seeing associated with Sec. 199A — we would love to see the extension of that to continue, but ideally, we would also like to see the expansion of Sec. 199A. Again, that costs money, and where is that money going to come by in order to be able to achieve something along those lines within it. But, there are opportunities, Neil. Some of those opportunities there's mobile workforce, opportunities there's an appetite for that hopefully that we can see move forward, and that would be something that would make a lot of people's lives a lot easier. That essentially is saying to put a safe harbor that if you work less than 30 days in a state, then you don't file at that state level. It would have to be over 30 days to be able to move forward with that. The expanded use of 529 accounts to be able to pay for studying to sit for the CPA Exam or to be able to get your financial planning certification associated with that. There are pieces of opportunities. Another piece of opportunity that we would like to see — maybe we'll see a change with the Form 1099-K, with the threshold. Remember that was at $600, and there's been a debate where it could be, so maybe we'll see an increase in that threshold filing. Of course, disaster relief. We would love to be able to see some of the bigger positions that we've had associated with disaster relief to make a real difference for victims of disasters. Amato: Good points all. Thank you very much, Melanie. I'll give you the opportunity to give a closing thought if you have one. Lauridsen: My closing thoughts are, I think 2025 is a huge tax year. I think we just need to buckle down and get ready for that roller coaster that's going to be coming, and it's always important to keep up to date and follow through, but in this year, changes are happening. They're happening quickly. I think podcasts like this, webcasts, things like the AICPA Town Hall, they become even more critical for people to keep up to date. Amato: Great. We will keep having you on. We'll see you again in 2025, and thank you for being on the show today. Lauridsen: Thank you, Neil.  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.

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, understands why accounting skills are often ranked outside the top five of key skills in informal polling of finance audiences. “It's not because they're less important, but because the other skills are more important,” Hood said. The core requirements remain, but the ability to adapt and add new skills has grown in importance with the pace of transformation accelerating. In this episode of the JofA podcast, Hood expands on some recent themes of his travels and what he looks forward to from the Future of Finance Summit in December. What you'll learn from this episode: ·         Why mindset is more important in transformation than the toolset of technology. ·         Details of a recent report about skills from the Pennsylvania Institute of CPAs. ·         The skills that rank ahead of the “table stakes” of technical accounting skills. ·         Why it's important to “grab these new skills.” ·         The new way that Future of Finance Summit attendees will get a summary of the event.

Stig Nybo is not afraid to admit that he's made mistakes. He's also happy to have been part of a movement that improved the thinking around retirement savings. Nybo, a keynote speaker at the Employee Benefit Plans Accounting, Auditing, and Regulatory Update, a Dec. 4-5 virtual event, co-wrote the book Transform Tomorrow: Awakening The Super Saver in Pursuit of Retirement Readiness. In this episode of the JofA podcast, Nybo talks about finding passion at work, why attempts to fix things can lead to breaking other things, and the “entire ecosystem” that's aiming to drive better retirement-savings habits. What you'll learn from this episode: ·         The circumstances that led to Nybo co-authoring a book emphasizing saving for retirement. ·         The 2019 JofA podcast guest that Nybo interviewed for his book. ·         Why his message is about more than saving, creating retirement plans, or auditing such plans. ·         Why he agrees with the words of Mark Twain when it comes to career choice. ·         The issues Nybo and others aimed to fix related to retirement saving – and what got “broken” in that process.

Digital disruption is everywhere, including in the practice of internal audit. An audit leader joined the JofA podcast recently to discuss how technology can be harnessed instead of feared or resisted. Anthony Pugliese, CPA/CITP, CGMA, president and CEO of The Institute of Internal Auditors (IIA), said it is understandable for fast-moving technology to be daunting. But such technology presents opportunities as well as risks. One tie-in is the new tools' ability to attract the next generation of talent for auditing. In this episode, Pugliese reviews recent IIA research, reminds auditors about the importance of curiosity, and discusses some of the misconceptions facing the profession. What you'll learn from this episode: ·         Highlights of recent research by The IIA about top risks. ·         Some of the “misconceptions” about internal auditing, according to Pugliese. ·         How the “slow trek” of blockchain integration into processes differs from today's tech implementations. ·         The “most golden thing” auditors can do. ·         A reminder of the timeline for adoption of international auditing standards.

Scott Simmons is co-managing partner at the firm Crist Kolder Associates. In more than two decades handling executive searches for clients, he's seen the qualifications for the CFO role change dramatically. The pressure on CFOs to deliver value has also grown. While some skills remain constant, of course, so do the paths to landing a CFO role. In this JofA podcast episode, Simmons takes listeners through some of the recent statistics in the firm's annual Volatility Report, discussing the importance of escaping one's comfort zone and developing new skills to be in line for a job as finance chief. What you'll learn from this episode: The number of CFOs at larger companies who have Big Four accounting backgrounds. The companies and C-suite positions Crist Kolder tracks in its annual Volatility Report How candidates can develop CFO skills without first becoming a CFO. Why an investor relations rotation should be something aspiring CFOs “jump” to accept. The major college athletics conference that has produced the most CFOs in companies tracked in by Volatility Report.

The AICPA & CIMA National Tax Conference will take place on November 11 and 12 in Washington, DC. Join Brandon Lagarde, Tax Partner at EisnerAmper, and April Walker, Lead Manager on AICPA & CIMA's Tax Practice & Ethics team, to learn more about what to expect from the upcoming conference. Conference sessions will feature topics such as: The impact of election results on tax legislation: Investigate the potential legislative outlook based on the recent election results and how it might affect tax policies. Tax Cuts and Jobs Act (TCJA) expiring provisions: Provisions of the TCJA are scheduled to sunset at the end of 2025; learn more about how to prepare and explore planning opportunities. Practical tax strategies: Sessions at the conference will cover various tax tactics, including gifting and income tax planning strategies, for clients who are not currently subject to estate tax. Ethical dilemmas in tax practice: A session will discuss common ethical dilemmas faced by tax practitioners and provide insights on how to handle them. The future of tax practice: Investigate the importance of transforming tax practices with year-round advisory services and how to implement these changes in a tax firm. AICPA resources AICPA & CIMA National Tax Conference — For tax practitioners, there's no better place to get immersed in current events than the AICPA & CIMA National Tax Conference; in-person and virtual options are available. Reimagining your tax practice — Join us for free upcoming live roundtable sessions to tackle today's top practice management issues with insights and tips from pioneers in the tax community. TCJA expiring provisions — This detailed, downloadable resource offers an in-depth look at the expiring provisions under the TCJA and other recent legislation. It categorizes changes across individual tax, estate and gift tax and business tax provisions, organized by year of expiration. Transcript Neil Amato: Welcome back to the Journal of Accountancy podcast. This is Neil Amato with the JofA. I'm excited to be joined for today's episode by two top flight tax experts in this special collaboration episode with the Tax Section Odyssey podcast with our guests, we're discussing the AICPA & CIMA National Tax Conference which begins November 11th in Washington. Those guests, April Walker, lead manager with the tax practice and ethics team and host of the aforementioned Tax Section Odyssey. Also Brandon Lagarde, tax partner at EisnerAmper and Chair of the Tax Conference Planning Committee. We have a lot to get to. We're excited to have you on. First, a quick welcome, April and Brandon, thanks for being repeat guests on the JofA podcasts. April Walker: Thanks so much for having me Neil. I'm excited to be here. Brandon Lagarde: It's very exciting to be here Neil. Thank you for having me. Neil Amato: Yeah, we're glad to have you both on as I said, the Tax Conference is November 11th, less than a week after election day. Brandon for you first, tell me what you're looking forward to about this event which is at the Omni Shoreham Hotel in Washington? Brandon Lagarde: Yeah. I'm looking forward to just go into DC. It's going to be a week after the election, hoping that we know who the president will be and what the makeup of Congress will be at that time. Again, it's going to be a great atmosphere, a great opportunity to go to the nation's capital, to hear from some of the best tax minds out there. Neil Amato: April, I know you're a repeat attendee at that conference. You're also running sessions, recording podcasts, taking part in panels. What do you look forward to from the event? April Walker: It's always a busy conference for me and I love being in DC and it's very exciting for me to be there, like Brandon said right after the election. Speaking of that, really what I'm looking forward to most is hearing more about what the potential legislation outlook could look like based on those results, based on those election results. I think we'll hear more about we've talked a lot about the Tax Cuts and Jobs Act, the TCJA, that it potential expiration, what that means. We'll really be able to dig into that at the conference. I'm excited about that. Neil Amato: It's almost like we planned this. My next thing was going to be the TCJA. Some of the provisions of that Act, the Tax Cuts and Jobs Act, are scheduled to sunset at the end of 2025. Clearly, there is a lot of uncertainty about the provisions right now as we record and the first part of October. But I imagine that topic is going to be a popular one at the conference. Brandon, What do you think? Brandon Lagarde: Yes, absolutely and that's why, again, being there at the heart of it all after the election and getting to hear from presenters and speakers about just what the future holds for tax professionals, end of 2024 is going to be really important for us. 2025 is going to be incredibly important for tax practitioners to understand and remind ourselves of here are all these provisions that we've been dealing with for the last seven years that are going to expire. What's going to happen? Where are we going to be? A lot of planning opportunities, lot of reason to get in front of clients to learn about what we have in the horizon. Again, that's why this conference, particularly just the time of the year. It is in the election cycle, and heading into 2025, 2026. It's probably the most important conference that's ever taken place. This is just a really important time for us to get together and to really try to figure out what's going to happen. Of course, we're not going to know exactly at that time, but at least start to have a better understanding, a clear picture of what we can expect and what should we be talking to clients heading into 2025? What are some things that need to be doing? Because you can't just turn on the switch in November of 2025 and start to really think about this. Right now is really the time to get ahead of it and remind ourselves what provisions are expiring? What do we need to start thinking about planning opportunities to get ahead of it? That's what's at stake at this time. April Walker: I love Brandon that you're setting the bar really high. The most important conference of all time. Here we go. Neil Amato: Yeah, that's great and because it's the most important conference of all time, we will include a link to the conference registration page with the agenda information and all of that in the show notes for this episode. One of the items on that agenda is being led by Marty Finn. He's a previous guest on the podcast. He has a session on tax and financial planning. When estate taxes don't matter. Now not to steal Marty's thunder. But can you give me a little preview of the highlights of that session? Brandon Lagarde: Certainly. We will spend a lot of time at this conference again, learning about the estate tax world and the sunset provisions and trying to navigate that. But the reality is a lot of our clients are not subject to estate tax. A lot of our clients are not having to worry about the sun setting provisions. We thought it was important to have sessions that not just focused on the top 1% of our clients, but to the 99% or to the large majority of our client base. Things like gifting strategies, what we need to be talking to clients about, who aren't necessarily dealing with the estate tax. Income tax planning strategies around that. Really just as practitioners, what do we need to be talking to clients about? We're not super focused on just estate tax and the ultra wealthy or the wealthy. That's one thing that we really try to work hard as committee in this conference is to find sessions that have a very practical application. That we can take away tips and tricks and things to our client base and back to our hometown and not just focused on the very academic discussion that a lot of tax practitioners like to have. That they can relate to. Try to have sessions that are very practical in nature and the Marty session is definitely one of those. He's going to do a great job giving some really good tips and tricks to people to bring home. Neil Amato: I liked the practical part you mentioned, and that leads me into another session that I want to ask you about. This is one that April is taking part in with Dan Moore and Mark Gallegos.The title of the session is Tax Practice makeover, transforming with year-round advisory services. Tell me some more about that session. April Walker: Yeah. I'm really excited about that session. A lot of what I do here at the AICPA is try to help practitioners think about the future, the future of Tax Practice, the future of what a firm could look like. So we had this idea to do like a makeover of a practice. We're going to talk about some of the different aspects of a practice that you could make over- billing, client focus. One of those is about adding advisory services. We'll talk more about that. So come and join us and learn how you could do a makeover of your practice. Neil Amato: That's great. Now another session with an intriguing title, this is you, Brandon and you April, test your tax ethics IQ. Now one that sounds like one that people have to do some homework on or some pre-reading, maybe I don't know, but tell us about that session. What's a flavor of it that you can tell attendees about now? Brandon Lagarde: We're going to try have fun with this session. Play some games that have come up with like a quiz atmosphere. I think April going to try bring a buzzer for people to buzz in and answer our questions. But really focus on ethical dilemmas. We're faced with ethical dilemmas daily, with clients who are either trying to push the boundaries a little bit or just get into some situations where they find themselves in a bad place. We're constantly being asked to address the situation with our client base. Whether you need amended return for XYZ reason. Can you take on a client because of what's going on? Do you need a fire a client? Because they may be trying to push the envelope a little bit. Really, there's a lot of ethical dilemmas that we face as practitioners. This is really a time for us to again, have some fun with it. To the extent that ethics is fun. We're going to try to test the audience and see what they think. It's always amazing if you ask a room of people what they think about certain tax ethic issue or are really just a tax topic. In a room of 100 people, there are probably 100 different opinions on what should be done. I think it can be fun. We're going to try have fun with it. Again, I really trying to also provide some education so if you find yourself in these situations, here's some things to consider. But again, April and I, we hope to have fun with that. April Walker: Just come visit us. There is no pre-work. To answer your question, Neil, there is no pre-work to the session. We'll take a lighthearted take on a potentially tough, dry subject. Neil Amato: Great, and this quiz is not graded. You still get the CPE as long as you're showing up, right? April Walker: Absolutely. Neil Amato: Well, good. One of the themes that I'm hearing is providing advice on the topic of expanding services beyond just, "Hey, we're going to do taxes for someone." But if someone said to you, maybe after a session, "Hey, I really liked what you said there. But gosh, I'm a smaller firm," or "It's only me. I don't know where to start." What do you tell them? April Walker: What I would do, if they came up to me and I hope they do. You can come up to me at our booth. You can come up to Brandon and I if you see us. We will likely be posted up in the bar at the Omni. Come see us anytime. But what I would tell you, we talk to small firms all the time. One thing I recommend them is come to a session that I do that's on the computer. It's not live at the conference, but it's called Reimagining your tax practice. I'm really more about re-imagining and having makeovers and that sort of thing it seems like. But in those sessions we really talk about the nitty-gritty. Sometimes it's hard to think about this big process of going from X to Y. We like to talk in those sessions about practical ways. I like to focus on the practical. How to actually get where you're going, or how to change things in your practice or how to change how you're operating. That's probably what I would say if you came up to see me wherever you might find me. Neil Amato: This has been great. We've mentioned session by Marty Finn. We've mentioned some sessions you are taking part in. Of course, we've mentioned that key acronym these days, TCJA. Brandon, in closing. Anything you'd like to add as we wrap up this Tax Conference preview episode. Brandon Lagarde: Yeah. Certainly. A couple of other terms you'll hear out there. AI, which we have a session. Transforming your tax practice. One thing we like to emphasize about all of our conferences, but certainly this one is, there'll be lots of sessions with lots of smart people talk speaking at these sessions with great content. A lot of times your challenge is which sessions do I go to. Because it's such a great hour, hour-and-a-half of content. You'd have to choose. At the moment, you do have to pick a session. But you have access to recordings of all the sessions after. I often go back and watch sessions that I wasn't able to attend because of that great content. It's just a wealth of information. Again, you get a little parting gift when you leave. Not only do you meet up, making new friends, meet people at the conference, talk about challenges you're facing with your colleagues and also hear some of the best speakers in DC and have a great time there. But you also get to have access to all the recordings after and watch the sessions after that you missed, and that is invaluable to have access to that content. Neil Amato: April, how about you? Anything to add in closing? April Walker: I think one thing that's really important about this conference being in DC, and we haven't mentioned yet, is the ability to have IRS speakers that come and speak to us. We're going to have the taxpayer advocate, Erin Collins. We'll have other IRS speakers scattered throughout the conference.That's another opportunity to really hear where they are on certain things and be able to ask them questions. Neil Amato: Yeah. That's great. It's a good reminder that there is that access to IRS officials every year at this conference. Really thank both of you for your time. Again, look forward to the conference November 11th, Brandon, April. Thanks for being on the JofA podcast. 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.

Becoming a CFO isn't easy. Neither is completing an iron-distance triathlon. Janice Stucke, CPA, is doing both, and she relies on accounting skills to improve in triathlon and applies triathlon persistence to her role as finance chief. Stucke is the CFO of CREW Network, the acronym standing for Commercial Real Estate Women. In this JofA podcast episode, Stucke shares her somewhat unconventional path to becoming a CPA, how she developed interest and expertise in technology implementations, and how she has dealt with panic-inducing moments. What you'll learn from this episode: ·         Stucke's nontraditional path to becoming a CPA. ·         What “your comfort zone will kill you” means for Stucke, who is preparing to compete in a 140.6-mile Ironman triathlon: 2.4-mile swim, 112-mile bike, and 26.2-mile run. ·         How Stucke has navigated fear and anxiety before and during competitions. ·         Time management and other prioritization advice. ·         Details on the spring 2025 CFO Conference.

Jeff Drew, the JofA's editor-in-chief, is the guest on today's episode, the 400th in the history of the JofA podcast. He's recapping for listeners some of the top articles of the summer and looking ahead to content in future issues. Drew, a former JofA senior editor and manager with the AICPA's Private Companies Practice Section, has focused on content for the daily and monthly magazines for more than a decade. He reviews or previews coverage on numerous topics, including the retirement of AICPA & CIMA CEO Barry Melancon, CPA, CGMA. Resources September JofA: HTML version | Flipbook Articles (HTML links) How academia is tackling the accounting talent shortage Rewriting accounting's employment narrative Taxation of influencers: Gifts with strings attached? Using ChatGPT-4o with Excel Using ChatGPT to build a standard operating procedure   Summer feature articles ·         Single-owner firms: The thrill of flying solo ·         What not-for-profits need to know about UBIT ·         How CPAs can benefit from not-for-profit board service ·         Guiding not-for-profits through post-pandemic challenges ·         What to know to avoid deficient not-for-profit audits Technology Q&A ·         How to find errors in Excel formulas ·         How to create a watermark in Excel ·         Identify and delete duplicates in Excel ·         Get more out of Teams with these 5 features ·         4 features for enhancing PDFs ·         Building an HR guide with ChatGPT  Professional Liability Spotlight IRS funding and a potential rise in malpractice claims Issue links: August HTML | Flipbook July HTML | Flipbook June HTML | Flipbook Podcast episodes: Barry Melancon part 1 Barry Melancon part 2 If you have article ideas or other magazine feedback, you can reach Drew at Jeff.Drew@aicpa-cima.com. What you'll learn from this episode: ·         The “incredible range of backstories” in an article focusing on sole practitioners and sole proprietors. ·         The focus of several recent Technology Q&A articles. ·         Highlights of a summer Professional Liability Spotlight article. ·         The link between Barry Melancon and Muhammad Ali. ·         A preview of the October digital edition of the JofA.

Carla McCall, CPA, CGMA, managing partner of the firm AAFCPAs, began her one-year term as AICPA chair in May. In this JofA podcast episode, she said that “whirlwind” was a good description of the first few months in the role, “but in a good way.” “If you truly love what you do, somehow it doesn't seem so arduous and it goes by real quick,” McCall said, labeling interactions with numerous people in the profession as “rewarding.” In this episode, McCall reflects on what she's learned about herself, why her firm has benefited from her “front-row seat,” and her message to accountants about doing their part to grow the talent pipeline. Resources n  McCall's June 2023 appearance on the show n  More about McCall's points of emphasis as AICPA chair and AICPA & CIMA co-chair

Ken Witt, CPA, CGMA, AICPA & CIMA associate director – Management Accounting Research and Development, discusses in this JofA podcast episode the reasons that finance executives in a quarterly AICPA & CIMA survey continue to lower their optimism about the U.S. economy. He also reveals what CPA decision-makers now view as their organization's top challenge. For the first time in a long time, it's not inflation. On the episode that detailed the previous quarter's survey, Witt noted that inflation “seems to be settling out a little bit.” This quarter's survey data shows that was an accurate assessment, as inflation concerns are diminishing somewhat. What you'll learn from this episode: ·         Details about Witt's assessment of this quarter's results as “interesting.” ·         The surprising parts of the third-quarter data. ·         Updated projections for revenue and profits in the coming 12 months. ·         How election-year uncertainty is affecting CPA decision-makers' business forecasting efforts. ·         The percentage of finance executives who say that a potential lowering of the federal funds rate would have a favorable impact on their business.

On this episode of the JofA podcast, Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, explains some of the tax-related repercussions of recent Supreme Court decisions. One case could have a dramatic effect on future rulemaking, and the other could have a decades-long retroactive effect. On June 28, the Supreme Court overturned its decision in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), holding that the Administrative Procedure Act (APA) requires courts to exercise their independent judgment in determining the meaning of statutory provisions, and courts may not defer to an agency's interpretation of the law just because a statute is ambiguous (Loper Bright Enterprises v. Raimondo, No. 22-451 (6/28/24)). On July 1, the Supreme Court decision expanded the time frame to sue federal agencies, holding that the six-year statute of limitation for lawsuits challenging regulations does not start to run until a plaintiff is injured by final agency action (Corner Post, Inc. v. Board of Governors of the Federal Reserve System, No. 22-1008 (7/1/24)). What you'll learn from this episode: ·         Background on the Loper Bright and Corner Post decisions. ·         Why Lauridsen said that one of the rulings was unexpected. ·         Why Sec. 6045 broker regulations could now be “vulnerable.” ·         The reasons that, according to Lauridsen, the Loper Bright decision will not likely affect beneficial ownership information reporting requirements. ·         How legislators on Capitol Hill have reacted to the decisions.

Tom Vartanian, executive director of the Financial Technology & Cybersecurity Center, joined the JofA podcast recently to discuss concerns about the rapid pace of technology adoption. Although he sees the benefits technology has had, he also sees drawbacks. “It's not that we shouldn't have technology, it's not that we shouldn't applaud tecnology,” Vartanian says in the episode. “It's just that our balance is off.” Vartanian, a former federal banking regulator and the author of nine books, is a keynote speaker Sept. 9 at the AICPA & CIMA Conference on Banks & Savings Institutions, which is co-located with the AICPA & CIMA Conference on Credit Unions. What you'll learn from this episode: Why Vartanian senses “irrational” euphoria about rapid technology advances. The speaker's reminder about the original, limited purpose of the internet. Details on the assertion of “going back to fundamentals” when it comes to cybersecurity. The difference in approach between a regulated bank and a third-party service provider. The value of strong leadership in mitigating cybersecurity concerns.

Tony Nitti, CPA, discusses a recent U.S. Supreme Court decision that some observers viewed as having the potential for wide-ranging changes in tax law. In the end, the decision was a narrow one, but the details of what was addressed and what wasn't make for an interesting conversation on this collaborative podcast episode. Nitti, partner–National Tax at EY, joins April Walker, CPA, CGMA, lead manager–Tax Practice & Ethics at AICPA & CIMA, for this episode, jointly produced by the JofA and the Tax Section Odyssey podcast. On June 20, the Supreme Court upheld the constitutionality of the Sec. 965 transition tax in a narrow opinion that applies only to passthrough entities (Moore, No. 22-800 (U.S. 6/20/24)). The Court found it was not required to address whether it is a constitutional requirement that income must be realized before it can be taxed. Nitti and Walker discussed the ruling in a late June recording. Resources: n  The unabridged version of the Walker and Nitti conversation on the Tax Section Odyssey page. n  Journal of Accountancy news coverage of the June 20 Supreme Court ruling. n  A November 2023 conversation about the Moore case. What you'll learn from this episode: ·         Details of the Supreme Court vote and the facts of the Moore case. ·         Why Nitti said that an expected “showdown” didn't happen. ·         What Nitti observed about the case from its oral arguments in late 2023. ·         How the case could open up further discussion on the taxation of unrealized gains and the constitutionality of a wealth tax. ·         The value, in Nitti's eyes, of reading the dissenting opinions.

Calvin Harris, CPA, knew he wanted to be an accountant well before he got to college. He had several mentors who helped him make that decision. It's one reason he believes that accountants need to reach students early and tell a better story about the profession. Harris was first on the JofA podcast in February 2022, when he was CFO of the National Urban League. Today, he's CEO of the New York State Society of CPAs and keenly aware of some of the profession's issues related to available talent. He discussed some of the ways accountants can help attract candidates to the profession and commented on the draft recommendations in the recently published report by the National Pipeline Advisory Group. What you'll learn from this episode: How technology has energized Harris and how it's empowering young CPAs. How Harris's mother, a former high school teacher, influenced his career choice. The crucial role diversity and inclusion can play in the future of the profession, according to Harris. Why telling a better story — and telling it early and often — is a must to address accounting pipeline concerns. How Harris, later in life, added the New York City Marathon to his list of accomplishments.

Byron Patrick, CPA/CITP, CGMA, took time from his schedule during AICPA & CIMA ENGAGE a few weeks back to join the JofA podcast. Patrick, recently named CEO at a startup company, has been a regular on the show over the years, talking mainly about technology topics. He continued that theme in this episode, discussing artificial intelligence, how the roles of chief technology officer and chief information officer have changed over the years, and why accounting professionals shouldn't feel overwhelmed by all the tech-focused changes taking place. Also, click here for the podcast episode from nearly five years ago in which Patrick discussed the use of emojis in email. What you'll learn from this episode: Why Patrick calls ENGAGE “the premier event of the year.” Details about the AICPA and CPA.com Startup Accelerator. A summary of key messages and themes from a technology-focused ENGAGE session. Patrick's advice for fellow accountants who might feel overwhelmed by the speed of technology-based changes.

Sara Lord, CPA, is chair of the Auditing Standards Board (ASB), which recently issued a new standard that completes the suite of quality management standards ahead of an important implementation deadline in late 2025. Lord, who discussed advice for firms on implementing the standards on a JofA podcast episode in 2022, joined the show again last week to talk about the end of a journey. In this episode, Lord details the terminology changes made official by the ASB's May 14 vote. In the conversation, there is a mention of the standard being available sometime in June. Since recording, the link has gone live and is available here: Statement on Standards for Attestation Engagements No. 23. What you'll learn from this episode: ·         An explanation of the changes implemented by the ASB in a May vote. ·         Why the May vote marks “the end of a standard-setting journey.” ·         Why Dec. 15, 2025, is an important date for implementation of the standards. ·         Implementation guidance, including where to find resources. ·         The sense of “rejuvenation” Lord feels each year at ENGAGE.  

Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, explains in this JofA podcast episode why finance decision-makers in the second-quarter Business and Industry Economic Outlook Survey are less optimistic now compared with the first quarter. Witt summarizes the survey results, including CPA decision-makers' expectations for revenue and profit increases and the top challenges facing them and their businesses. What you'll learn from this episode: ·         Why Witt says the outlook this quarter is “mixed.” ·         An overview of respondents' sentiment about the domestic and global economies. ·         The “signs of strength” in KPIs, including revenue and profit projections for the next 12 months. ·         One metric that Witt will monitor in the third-quarter survey results.

Trisha Nomura, CPA, CGMA, and Abel Soares III, CPA/PFS, don't live far from each other, but they didn't know the other's story until Soares was featured in an AICPA & CIMA Member Spotlight Series video. They joined the JofA podcast recently to discuss how connecting has led to mutual admiration — and opened up new ideas for mentoring. The episode is in recognition of Asian American Native Hawaiian/Pacific Islander (AANHPI) Heritage Month and intended to celebrate the diverse voices of the profession. Resources n  AICPA & CIMA home page for diversity, equity, and inclusion n  Full index of the Member Spotlight Series focused on diverse voices: What you'll learn from this episode: ·         How Nomura and Soares learned that they were essentially neighbors. ·         The background of each CPA and why it matters — particularly this month. ·         Their advice for fellow accountants on being more entrepreneurial. ·         The inspirational emails Nomura has received after speaking to students about accounting. ·         Why Soares wanted to go “beyond the numbers” with his firm's focus. ·         Their ideas for helping to grow the profession.

Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation for AICPA & CIMA, joins the JofA podcast for this episode to guide CPAs on how to approach the new SEC rule on climate-related disclosures. The SEC adopted the rule March 6. But, about a month later, it put a stay on the rule's implementation, in response to multiple legal challenges to the rule. Some argued that the SEC overstepped its authority, and others said the SEC didn't do enough. Either way, it's likely the rule will affect corporate reporting going forward, despite the lack of clarity now. Beers explains that and more, underscoring the importance of not waiting to understand the rule. Resources n  May 23 webinar mentioned by Beers n  AICPA and Center for Audit Quality summary document n  JofA March 6 article on rule adoption n  JofA March 14 need-to-know summary  What you'll learn from this episode: ·         Ami Beers' rundown of the recent timeline of sustainability reporting and the SEC's adoption of its rule on climate-related disclosures. ·         What the data, in multiple surveys from the AICPA and the International Federation of Accountants, shows about companies' reporting on climate information. ·         What's next regarding the legal challenges affecting the rule. ·         Why Beers said “there's a lot to unpack” regarding the rule. ·         Why, despite legal hurdles, Beers believes the rule should remain on CPAs' radar. ·         The importance of legislation in the European Union and California on climate-related reporting.

Roger Kenyanya, vice president of finance at home improvement store Lowe's, took part in the inaugural AICPA and CPA.com AI Symposium about three months ago in New York. Why did he refer to the event as a “humbling, full-circle moment” in a LinkedIn post? Find out on this episode of the JofA podcast. Kenyanya, a member of the Future of Finance Leadership Advisory Group, shares how both the finance function and overall business are harnessing the power of AI. He also details his career journey and notes how the skill sets of next-generation finance employees will change. What you'll learn from this episode: ·         The “significant milestone” in Kenyanya's career — in his junior year of college. ·         Kenyanya's path to his current role as a finance leader at Lowe's. ·         His takeaways from a January symposium about AI. ·         Some of the ways AI is being harnessed at Lowe's. ·         How the skill set for tomorrow's finance employees is changing and the three-pronged focus of that shift for Kenyanya and Lowe's. ·         The peer “platform to collaborate” that Kenyanya said is valuable.

Featuring Asim Jofa, CEO and Founder of the luxury fashion line, Asim Jofa, in Pakistan.   (Recorded 4/18/24)

Danielle Supkis Cheek, CPA, vice president and head of Analytics & AI for Caseware, had an interesting way to continue her exploration of the ethics of using AI tools in accounting: She asked ChatGPT to give her an answer. The response helped in her assessment of such tools. She shared more about that result — and answered our questions — in this episode of the JofA podcast.  What you'll learn from this episode: ·         What a well-known generative AI tool had to say about the risks of using large language models in accounting. ·         The surprising thing an early version of ChatGPT said about Supkis Cheek. ·         The top-of-mind AI ethics concerns for the accounting profession. ·         How the development of smaller-scale language models, with accounting specifics, can improve confidence in large language models. ·         An explanation of the MAYA principle as it relates to AI. ·         Thoughts on taking a “measured approach” when it comes to AI auditing.

To Jen Croneberger, it's easy for many in society to spend a lot of time planning to do big things but not always carrying out those plans. Taking an “if/then response approach” to life prevents accomplishing big goals, and so Croneberger advises people to take big leaps, even if they're uncertain about having a safety net. That's one of several leadership concepts discussed on this JofA podcast episode. Croneberger, an author and consultant, is the keynote speaker June 17 at the AICPA & CIMA Not-for-Profit Industry Conference. In this conversation, she previews that session, explains the words behind the acronym BRAVE, and shares the importance of human-focused leadership in an AI-driven world. Croneberger also responds to the topic of a JofA episode from April 2022 about how belief differs from arrogance. What you'll learn from this episode: ·         A preview of Croneberger's keynote session at the AICPA & CIMA Not-for-Profit Industry Conference in June. ·         Why leadership is “a behavior, not a title.” ·         Some of the ways she applies a sports background to her role as a consultant. ·         Why Croneberger likes the leadership advice “Go before you're ready.” ·         How we can use digital devices to improve self-care. ·         The importance, in Croneberger's mind, of speaking openly about topics such as depression.

Hamza Khan believes the four-day workweek to be “an inevitability.” It is the sort of workplace trend that could help to diminish burnout, which is the main topic of this JofA podcast episode with Khan, an author and entrepreneur. This episode is the first of a two-part conversation with Khan, who has given keynote presentations at several AICPA & CIMA events, including the Global Women's Leadership Summit and the CFO Conference. Khan spoke last year on the JofA podcast about the difference between managing and leading, and he'll talk on the next episode about how strong leadership should include meaningful one-on-one meetings.

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, together as the Association of International Certified Professional Accountants, has his finger on the pulse of the profession. He's traveled all over, talking to everyone from corporate CFOs to newly minted accountants and accounting apprentices, and he's sharing some of the insights gained from those discussions on this episode of the JofA podcast. Hood, who has been in his current role for three years after a long stint as CEO of the Maryland Association of CPAs, takes time to reflect on his move to the “global stage,” to explain the issues that most concern finance leaders, and to detail an early apprenticeship success story. What you'll learn from this episode: ·         Hood's reflection on three years in an AICPA & CIMA executive role. ·         The “pre-Internet” computer technology Hood's company used when he was a CFO. ·         One example of how the power of peers has built the Future of Finance Leadership Advisory Group. ·         Why the story one bank's apprentice provides hope in addressing the accounting talent pipeline drought. ·         The top-of-mind issues for finance leaders for this year and into 2025.

Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, explains in this JofA podcast episode why finance decision-makers in the first-quarter Business & Industry Economic Outlook Survey are more optimistic now compared with the end of 2023. Witt summarizes the survey results, including CPA decision-makers' expectations for revenue and profit increases and the top challenges facing them and their businesses. What you'll learn from this episode: ·         A breakdown of sentiment about the domestic economy and CPA decision-makers' own organizations. ·         Projected increases in revenue and profits for the coming 12 months. ·         The top challenges facing finance executives. ·         The hiring outlook for the coming year and how it differs by company size.

The AICPA & CIMA CFO Conference begins April 24 in Charleston, S.C. Sandy Sloyer, CPA, CGMA, and Misty Geer, CPA, CGMA are long-time members of the conference planning committee, and they joined the JofA podcast to discuss how priorities have changes for finance leaders over the past few years — and how the conference agenda has been adapted as a result. Here's a link to the list of conference sessions. What you'll learn from this episode: ·         Attendance options for the April conference. ·         How the conference planning committee adapted to the pandemic era. ·         Key issues facing CFOs and the finance function these days. ·         Agenda highlights, along with some of Geer's favorite speakers from previous years. ·         Sloyer's feeling every year when the conference ends. ·         Why the event is for current CFOs and aspiring ones.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, returns as a guest on the JofA podcast to update listeners on the focus areas of tax advocacy.   Her team is paying close attention to employee retention credit claims, beneficial ownership information (BOI) reporting requirements, and IRS contingency plans in the event of a government shutdown.   Resources: January advocacy conversation with Lauridsen on the JofA podcast JofA coverage of the federal court opinion holding the Corporate Transparency Act unconstitutional and the appeal of that court decision Tax Section landing page, with extensive resource library on topics mentioned, including resources specific to the employee retention credit What you'll learn from this episode: ·         Recent developments related to BOI reporting – who has to file reports and who doesn't. ·         Why BOI reporting often falls to tax practitioners. ·         The differences between BOI requirements and the customer due diligence rule. ·         Why March 22 is important as it relates to government funding. ·         Lauridsen's analysis of a tax bill now with a congressional committee.

The factors contributing to a decline in the accounting talent pool are many, and so are the strategies to address the issue.  In this podcast episode, Sue Coffey, CPA, CGMA, AICPA & CIMA's CEO–Public Accounting, explains what early research has shown about why students are showing less interest in accounting. She also details the steps that multiple entities, including the National Pipeline Advisory Group (NPAG), are taking to grow the pipeline. In the interview, Coffey discusses CPA licensure, the 150-hour educational requirement, CPA practice mobility, and other issues important to her and the profession. Resources NPAG survey page: https://www.accountingpipeline.org/survey/ AICPA & CIMA business model transformation tools JofA content: n  Podcast episode with NPAG Chair Lexy Kessler, CPA, CGMA n  Podcast episode with NPAG independent facilitator Jennifer Wilson n  Podcast episode about including accounting in STEM curriculum with Jan Taylor, CPA, CGMA, and Lauren Pfingstag-Vahey n  Article on the formation of NPAG What you'll learn from this episode: ·         The main goals of the National Pipeline Advisory Group (NPAG). ·         Why the recently released NPAG survey is aimed at current professionals and students. ·         What NPAG research is showing about the reasons for a decline in CPA candidates. ·         Coffey's response on whether the AICPA is being stubborn about the 150-hour education requirement for CPA licensure. ·         The importance of audit transformation in Coffey's mind. ·         Some of the regulatory agencies she speaks to as part of advocacy efforts.

Wassia Kamon, CPA, was a featured speaker at the Future of Finance Summit in Orlando late last year, and she joined the JofA podcast from the event to discuss how leaders can overcome their own biases to be more inclusive.   Kamon, vice president of finance at the Low Income Investment Fund in Atlanta, points out that with social media and other commonly used applications, it's very easy for us to choose our own news, friends, and interest areas — or have algorithms choose the focus areas for us. That can be detrimental to people expanding their understanding of the world and learning about others. Kamon also explains a few types of bias and how they can hold people back, and she explains why it's important to mix progression planning with succession planning. What you'll learn from this episode: ·         Why we're now in the “golden age of self-curation,” according to Kamon. ·         The danger of “blocking people” if you're in a leadership role. ·         An explanation of implicit bias and status quo bias. ·         The meaning of leading in a “roundabout” way — and how it differs from a “traffic light” approach. ·         How Kamon once reacted when approached by a manager about receiving a promotion. ·         The importance of being “receptive to change.”

Bring together three of the top experts in the accounting technology space, and you're bound to learn something (often, many things) new. That's been the premise of the JofA Accounting Technology Roundtable since 2011. It held true again in 2024.  After discussing artificial intelligence and automation in Part 1 of the roundtable, published Wednesday, the three panelists — Automata Practice Development's Wesley Hartman, IntrapriseTechKnowlogies' Donny Shimamoto, CPA/CITP, CGMA, and Boomer Consulting's Amanda Wilkie — turned their attention to several other topics, including one that is new to the roundtable — people tech.  What is people tech and why does Shimamoto think it's going to be a big deal for accounting firms and finance departments this year and beyond? Find out in this episode. What you'll learn from this episode: ·         What "people tech" is and why "HR tech" is not an adequate description ·         Ways accounting firms and finance departments can use the technology “for good” ·         Why AI can't solve all problems, especially within people tech. ·         Why CPAs should be paying more attention to digital assets than blockchain. ·         The type of cybersecurity plan now required for many firms. ·         Where Web 3.0 stands and why it may be a little behind schedule. ·         A simple reminder about taking small steps when implementing technology.