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CPA Conversations podcast
19 minutes | 12 hours ago
IRS Audit Survival Tips
According to guest Philip Karter, a tax controversy and litigation lawyer with Chamberlain Hrdlicka Attorneys at Law in Philadelphia, the frequency of IRS audits are down, but that doesn’t mean they are any easier for those who find themselves going through the process. In today’s podcast, Karter covers best practices for conducting yourself during an IRS audit, factors that may make you more likely to be audited, and ways by which you will be notified if you find yourself under the financial microscope. To read the full transcript click here.
19 minutes | 5 days ago
Internal Controls and Auditing Considerations in the New Normal
In a preview of their presentation at the Dec. 10-11 PICPA Accounting & Auditing Conference, Michael McAllister and Barry Pelagatti of RKL join us to discuss COVID-19’s effect on risk factors brought on by the pandemic, complications of the necessary rush to digitize business operations, and more. To read the full transcript click here.
19 minutes | 8 days ago
Prepare Clients for Unprecedented Year-End Financial Planning
Any time you describe anything as being an object “like no other,” you run the risk of being accused of hyperbole. However, when it comes to personal financial planning, the number of variants contributing to the environment this year – an ongoing pandemic, the results of a historic election, and financial volatility – makes this year-end like none we have seen. In a preview of his winter 2021 Pennsylvania CPA Journal Personal Financial Planning column, Will Velekei, senior financial adviser for Corbenic Partners in Bethlehem, Pa., discusses factors to be considered during a wild year-end planning season. To read the full transcript click here.
16 minutes | 15 days ago
When Safety Allows, Office Work Offers Major Benefits
We’ve all learned to appreciate the flexibility of telecommuting over these past few months out of necessity, but let’s not forget there is a case to be made that working in the office presents a number of benefits for CPAs. In her Careers & Lifestyles column for the winter 2021 Pennsylvania CPA Journal, Alyzabeth Smith, senior associate for Siegfried Advisory in Wilmington, Del., discusses several of the most prominent reasons, including a better ability to disconnect and bolstered team camaraderie. In this podcast, she offers a sneak preview of her column. To read the full transcript click here.
24 minutes | 22 days ago
With Historic Election on Tap, a Look at the Fiscal Health of Pennsylvania
On the eve of one of the most significant elections of our time, we meet with three guests – Republican Sen. Patrick M. Browne, Democratic Rep. Mathew D. Bradford, and Matthew Knittel, director of the Pennsylvania Independent Fiscal Office – to discuss the impact that the coronavirus pandemic has had on Pennsylvania’s governance, economy, small businesses, tax agenda, and more. To read the full transcript click here.
17 minutes | a month ago
Middle-Market M&A Suffers Amidst the Coronavirus New Normal
The number of middle-market private equity deals took a hit in the second quarter of 2020, showing minimal improvement in July through September. The primary reason is clear: COVID-19 created an environment that has organizations skittish about investing too heavily right now. To explore the current outlook for mergers and acquisitions, we met with Anthony DeCandido, an audit partner and coleader of the CT financial services practice for RSM US LLP. To read the full transcript click here.
12 minutes | a month ago
Second Marriages and Personal Financial Planning Priorities
At the PICPA Personal Financial Planning Conference on Nov. 5, Brian Carney, cofounder of RiversEdge Advisors in Wilmington, Del., will present a session on personal financial planning considerations for individuals entering into a second marriage. Among the topics he will discuss are budgeting concerns, assets and debt management, and estate planning. In this podcast, he offers a sneak peek at his upcoming presentation. To read the full transcript click here.
24 minutes | a month ago
Diversity and Inclusion Must Become a Part of Your Organizational DNA
The year 2020 will be remembered for many things, not the least of which has been a race relations awakening. The accounting profession, too, has joined in. Many firms have taken steps to build on previous efforts by forming in-house diversity and inclusion committees and bolstering board and executive involvement in said groups. For efforts like these to bear fruit, though, these actions must go deep; they must become part of an organization’s mission. So says Herschel Frierson, managing director of Crowe LLP in Indianapolis and chair of the National Association of Black Accountants. To read the full transcript click here.
17 minutes | a month ago
Stand Up to Societal Challenges by Bolstering Your Resilience
In a preview of her session at the Oct. 27 PICPA Women’s Leadership Conference, Karen Reivich, PhD, director of the resilience and positive psychology training program at the University of Pennsylvania, joins us to discuss the science of resilience. She also touches on ways resilience can be enhanced and overcoming psychological challenges during the COVID-19 pandemic. To read the full transcipt click here.
11 minutes | a month ago
Two Years After Wayfair: Its Effect on Sales Taxes and the Impact of COVID-19
It’s been over two years since the Supreme Court’s decision in South Dakota v. Wayfair, and its impact has been substantial. Add in the onset of the coronavirus pandemic, with its role in driving individuals toward online shopping, and you have a seismic impact in the tax world. In this podcast, Jennifer Karpchuk, shareholder and state and local tax practice cochair for Chamberlain Hrdlicka Attorneys at Law in Philadelphia, joins us to dissect current developments related to Wayfair and COVID-19. To read the full transcript click here.
15 minutes | 2 months ago
Questions You Need to Ask Clients Who Own Small Businesses
As we have seen with all the activity surrounding the Paycheck Protection Program, now is a perfect time for CPAs to show value when working with clients who own small businesses. However, it is important to know the right questions to ask to bring into focus the areas where you can be most beneficial. To figure out what to ask, including whether or not your client has ever dealt with adversity, we spoke with Bryce Sanders, president of Perceptive Business Solutions Inc. To read the full transcript click here.
21 minutes | 2 months ago
Future-Proof Your Firm by Appealing to the Modern Client
What will it take to ensure a successful future for your CPA firm? Perhaps it is setting your firm apart from the competition in the technological realm? Maybe it’s marketing your firm in the avenues that draw the modern client’s eyeballs? Well, according to Robert Schulte, founder of LumaTax Inc., the answer is “both,” as well as many other steps you can take. To read the full transcript click here.
20 minutes | 2 months ago
How to Get Valuable Client Referrals Without Asking
Client referrals are a time-honored avenue of prospect generation for CPAs. However, coming out and asking for referrals can be a delicate matter to the firm/client relationship. Today’s guest, Stacey Brown Randall, author of Generating Business Referrals Without Asking, shares ways to ensure client referrals without having to be so forward as to inquire about them. To read the full transcript click here.
19 minutes | 2 months ago
Time May Be Ripe for a CPA Move into Consulting
The economic uncertainly introduced by the COVID-19 pandemic might make it seem like a bad time to take a significant career leap, but business strategist and consultant Veronica Sagastume believes the timing could not be better. She discusses the signs that a CPA may be ready for such a step, ways that CPAs can generate revenue for their consulting business, and the importance of establishing a personal brand identity for a new venture. To read the full transcript click here.
14 minutes | 3 months ago
Don’t Ignore Your Team’s Resistance to Change
The accounting profession is in a perpetual state of change, which has been amplified by the coronavirus pandemic. Because of this state of flux, it is important for a manager to know when their team is ready for change and when they definitely are not. In today’s podcast, Liz Uram, owner of The Coach and Mentor Group, provides some details on the signs that a team is resistant to change, including the inability to adjust behavior, employee turnover, and more. To read the full transcript click here.
12 minutes | 3 months ago
Demand for Accounting Advisory Services on the Rise
While accounting advisory services have been a need for a long time, the onset of coronavirus-concerned issues, such as the Paycheck Protection Program, Economic Injury Disaster Loans, and others have brought this opportunity to the forefront for CPA firms. We are joined by Randy Johnston, executive vice president of K2 Enterprises, to discuss what sorts of services constitute advisory as well as emerging advisory areas for 2020 and beyond. To read the full transcript click here.
16 minutes | 3 months ago
Financial Institutions: Be Wary of COVID’s Effect on Current Expected Credit Losses
In a preview of the panel discussion he will be moderating at the Sept. 22 PICPA online Financial Institutions Conference, Patrick J. Mulloy, CPA, partner, audit services, for RSM US LLP in Philadelphia, discusses the impact of coronavirus on current expected credit losses. Among the aspects he shares with us are allowances for loan loss calculation and the process for determining Paycheck Protection Program loans and grants. To read the full transcript click here.
28 minutes | 3 months ago
A CFO’s Perspective on COVID Recovery and Disaster Preparedness
In a preview of his fall 2020 Pennsylvania CPA Journal Business & Industry column, Michael F. De Stefano, CPA, chief financial officer for RKL in Lancaster, Pa., discusses the experience of his organization when it became clear that the coronavirus pandemic was going to be more than just a fleeting inconvenience, including applying for a Paycheck Protection Program loan, becoming experts on new communications channels, and taking steps to reduce burnout among colleagues and staff. To read the full transcript click here.
46 minutes | 3 months ago
Behind the Scenes of Moving Accounting Education Online
In a preview of their fall 2020 Pennsylvania CPA Journal Education column, Duquesne professors Valerie Trott Williams and Robert Kollar recount the obstacles they faced when their university was forced to move all classwork online as part of the coronavirus pandemic. They discuss the effect the move had on student grades, the time it took to prepare for online courses, lessons learned for when courses resume, and more. To read the full transcript click here.
20 minutes | 3 months ago
Enhancing CPA Firm Success with Artificial Intelligence
As futuristic as the terms “artificial intelligence” and “machine learning” may sound, they are currently being used in the home and the business world. In the accounting profession, though, they could be better leveraged. Robert Schulte, founder of LumaTax Inc., joins us to talk about the benefits to accounting and finance functions, benefits for CPA firms and clients due to adoption of advanced technology, and areas in which artificial intelligence could be used more. To read the full transcript click here.
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