CPA Practice Advisor

CPA Practice Advisor CPA Practice Advisor is the definitive resource for information to tax and accounting professionals

Top news this week #1: 2025 Ensuring Success Online CPE and CE Conference Draws Thousands of Tax and Accounting Pros-
12/13/2025

Top news this week #1: 2025 Ensuring Success Online CPE and CE Conference Draws Thousands of Tax and Accounting Pros-

The event is ongoing on Dec. 10-11, 2025, with 7 hours of NASBA-certified CPE credit on each day (14 hours total). A total of five sessions also qualify for IRS-certified CE credit.

Top news this week #2: How the 50 States Rank By Tax Burden (Updated for 2025)-
12/13/2025

Top news this week #2: How the 50 States Rank By Tax Burden (Updated for 2025)-

Residents of Hawaii are burdened by taxes the most, while Alaska residents have the lowest tax burden, a new WalletHub study found.

Top news this week #3: Department of Education Unclassifies Accounting as a Professional Degree-
12/13/2025

Top news this week #3: Department of Education Unclassifies Accounting as a Professional Degree-

The definitions of professional degree programs help determine loan eligibility, which can be a critical differentiator for a student striving to complete an accounting degree program and become a CPA.

Top news this week #4: IRS Issues Guidance for Workers Who Received Tips or Overtime in Tax Year 2025-
12/13/2025

Top news this week #4: IRS Issues Guidance for Workers Who Received Tips or Overtime in Tax Year 2025-

The Treasury Department and the IRS issued guidance on Nov. 21 for employees who are eligible to claim the deduction for tips and for overtime compensation under the One Big Beautiful Bill Act for the 2025 tax year.

Top news this week #5: Tax Court Rules No Tax-Free Pass on S Corp Income-
12/13/2025

Top news this week #5: Tax Court Rules No Tax-Free Pass on S Corp Income-

With an S corporation, the owners are of the business essentially taxed like partners in a partnership. In contrast, C corporation owners must cope with “double taxation” where income is first taxable to the corporation and then distributions are taxed to the owners.

Top news this week #6: What Would the U.S. Look Like Without Income Tax? Trump Says We’re About to Find Out-
12/13/2025

Top news this week #6: What Would the U.S. Look Like Without Income Tax? Trump Says We’re About to Find Out-

President Donald Trump made the bold claim about an income tax-free America during a Dec. 2 Cabinet meeting, after touting the impact of his trade policies and potential “dividend” stimulus checks.

Top news this week #7: 5 Ways Hackers Use AI to Break Into Small Businesses—And How to Stop Them-
12/13/2025

Top news this week #7: 5 Ways Hackers Use AI to Break Into Small Businesses—And How to Stop Them-

A cybersecurity expert shares practical defense strategies for each attack type, stressing that employee training and affordable security tools can level the playing field.

Top news this week #8: Social Security Experts Urge Recipients to Do These 5 Things Before Dec. 31-
12/13/2025

Top news this week #8: Social Security Experts Urge Recipients to Do These 5 Things Before Dec. 31-

As the year draws to a close, experts say Social Security recipients may benefit from reviewing several key items before Dec. 31 to help avoid payment issues, tax surprises or reporting problems in 2026.

Top news this week #9: Kansas Accountant, Who Created Fictitious ‘Middle Finger Ranch’ for Fraud Scheme, Sentenced to 4...
12/13/2025

Top news this week #9: Kansas Accountant, Who Created Fictitious ‘Middle Finger Ranch’ for Fraud Scheme, Sentenced to 4 Years in Jail-

Quintin Flanagin, 45, of Colby, KS, was sentenced to 48 months in prison on Dec. 3 after admitting this past summer to defrauding clients, who were his family members, and using part of the money to build a home.

Top news this week #10: Salary and Hiring Trends in Accounting: What CPA Firms Should Know to Stay Competitive-
12/13/2025

Top news this week #10: Salary and Hiring Trends in Accounting: What CPA Firms Should Know to Stay Competitive-

Firms are competing directly for accounting and tax professionals with corporate employers who are often prepared to offer higher pay and more flexibility to maintain work-life balance.

For CPAs, accountants, and tax professionals, the OBBB delivers sweeping reforms, some long-awaited from the Tax Cuts an...
12/13/2025

For CPAs, accountants, and tax professionals, the OBBB delivers sweeping reforms, some long-awaited from the Tax Cuts and Jobs Act (TCJA) of 2017 and some unexpected.-

For CPAs, accountants, and tax professionals, the OBBB delivers sweeping reforms, some long-awaited from the Tax Cuts and Jobs Act (TCJA) of 2017 and some unexpected.

Navigating today’s job market takes courage. Career experts weigh in on how to make your next move—even if you’re stayin...
12/13/2025

Navigating today’s job market takes courage. Career experts weigh in on how to make your next move—even if you’re staying put.-

Navigating today’s job market takes courage. Career experts weigh in on how to make your next move—even if you’re staying put.

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