Month: April 2019

Dynamic Ranges and the OFFSET FUNCTION

In our January and February 2019 newsletters we discussed the OFFSET function. Recall that the syntax of the OFFSET function is OFFSET(cell  reference, rows moved, columns moved,height,width). As we explained in our last two articles, we begin in the cell reference and based on the rows...


Will Private Company GAAP Alternatives Soon Be Made Available to Nonprofits?

The Financial Accounting Standards Board (FASB) has proposed that two GAAP alternatives currently available only to nonpublic business entities also be made available to nonprofit organizations.   The accounting alternatives were originally codified into GAAP through ASU 2014-02 and ASU...


Recent Tax Changes to Keep in Mind For 2019

Now that tax season is over, it is important to look at some recent tax changes that affect compliance and planning for 2019.  These changes have been brought about by the Tax Cuts and Jobs Act (TCJA), new regulations, revenue procedures, notices, and other rulings. Medical deduction: The...


IRS Issues Form for Base Erosion and Anti-Abuse Tax

The Tax Cuts and Jobs Act added a new provision to the Internal Revenue Code called the “Base Erosion and Anti-abuse Tax” (BEAT). The IRS recently issued Form 8991, Tax on Base Erosion Payments of Taxpayers with Substantial Gross Receipts, which taxpayers will use to report their tax liability...


Future CPA Kristen Cournane Shares Her Top 3 CPA Study Tips

One of the most difficult aspects of studying for the CPA Exam is finding which methods work best for you individually. One size doesn’t fit all and everyone’s learning style is different! Thankfully, it’s possible to learn a few things from candidates who have already taken the exam. ...


My CPA Exam Success Story: From Opera Singer to Certified Public Accountant

Angela Zullinger has trained as a professional musician since the age of 15, working as a freelance opera singer, pianist and music teacher. After starting a family, Angela reconsidered her work in the music industry and transitioned her efforts to accounting, starting with an online master’s...


5 CPA Exam Challenges and How to Overcome Them

Upon first glance, the CPA Exam can seem daunting. The process itself is long and if it’s not done right, can be very costly. According to data released by the AICPA, the 2019 CPA Exam pass rates show that the highest cumulative pass rates for any section is just under 60%.   While that...


Accounting for Leasehold Improvements and Lease Incentives Under New Rules

Lease incentives are any payment made to, or on behalf of, a lessee to fund items that would otherwise be a lessee’s expense. This includes reimbursement for moving expenses or assumption of a lessee’s pre-existing lease.   Lease incentives reduce lease payments used for lease...


IRS Publishes GILTI Tax Forms

The IRS has published both of the forms U.S. shareholders need to compute amounts tied to global intangible low-taxed income (GILTI). The GILTI provisions were enacted as part of the Tax Cuts and Jobs Act (TCJA) and apply to all U.S. persons that own at least 10 percent of a foreign corporation. ...