Pennsylvania CPA Journal

Personal Financial Planning Mitigate the Tax Impact of the Death of an Owner/Shareholder By Michael C. DeFillipo, CLU, ChFC With the current estate tax exemption levels set to sunset at the end of 2025 (if not before), business owners and their CPAs may need to take appropriate steps in the tax and legacy planning process. A key factor to framing a solution is to first understand how the owner’s interest in the business will affect their overall net worth and potential estate tax exposure. Read

Get Comfortable Wrapping Yourself Around Python By J. L. “John” Alarcon, CPA, CGMA, CITP, Kevin C. Moffitt, PhD, and Cory Ng, CPA, DBA, CGMA Examine the open-source programming language Python and why it has emerged as an important contributor to certain accounting roles, such as audit, internal audit, IT audit, business planning and forecasting, as well as traditional accounting roles. Read

Business & Industry New Employment Model Demands New Fraud-Fighting Efforts By Scott Koman, CPA, CFE, MAFF, and Mark Banks, CPA, CFE, MAFF Explains how corporate CPAs, like it or not, are on the front lines in the fraud battles our companies constantly face, and new methods are needed to win the fight. Read

Features Build the Best Accounting Profession Through Diversity, Equity, and Inclusion By Bernice Jenkins, CPA, CMA, Loreal Jiles, and J. Stephen McNally, CPA, CMA Explore diversity, equity, and inclusion in the accounting landscape, highlighting insights from recent research in the area of DE&I, explaining why DE&I truly matters in the accounting profession, and suggesting practical actions to be taken by CPA firms looking to bolster DE&I with their organizations.

Features Columns Accounting & Assurance Material Misstatements: Find Them Before They Find You By Charles B. Hall, CPA, CFE Explores the dangers material misstatements present to the accuracy of the audit opinion. Read Federal Tax Are Your Clients Prepared for a Wave of IRS Audits? By Philip Karter, JD, LLM, and Kevin F. Sweeney, JD Advises CPAs to ensure their clients are ready for a possible uptick in federal audits due to changes in tax legislation.

Features Columns Accounting & Assurance Attest Flexibility: New Examination and Revised Review Engagements By James J. Newhard, CPA Reviews statements of standards for attestation engagements that affect both examination and review engagements. Read Business & Industry The Pandemic’s Impact on Business Insurance Coverage By Michael F.