Meet TSCPA Member: Caton Brooks, CPA
The career path for TSCPA member Caton Brooks, CPA, shows how a “backup” plan can become a fulfilling career.
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TSCPA 2022 Year in Review
As we close out the fiscal year that ended on March 31, I want to take a moment to reflect on our accomplishments. Looking back, I am extremely proud of what we have achieved. This past year, we put our strategy into action and made significant progress in advancing our five strategic priority areas: Connections, Professional Development, Advocacy, Students and Emerging Professionals, and Diversity, Equity, and Inclusion.
View MoreMistakes Happen: Common 401(k) Plan Errors and How To Fix Them
From ERISA to the Internal Revenue Code (“IRC”) to regulations to pieces of sub-regulatory guidance hidden away on governmental websites, a complicated web of sources governs qualified retirement plan compliance—and for all the parties involved, ensuring retirement plans adhere to the litany of federal legal requirements can be overwhelming. Despite the best of efforts, mistakes can and do happen all too often.
View MoreNavigating Tennessee’s Network of Entrepreneurship Resources for Your Clients
In the wake of the Great Resignation of 2020, the state of Tennessee witnessed the emergence of over 75,300 new businesses in 2021, marking a remarkable 97.4% rise from 2017 figures as reported by the Tennessee Secretary of State. This surge in entrepreneurial activity creates ample possibilities for CPAs to expand into an advisory role.
View MoreAccounting for Receivables and Payables on Cash-basis Balance Sheets: How To Account For Your Client’s Bookkeeping Software Functionality
The use of bookkeeping software, such as Quicken, QuickBooks and Peachtree/Sage50, has permeated the accounting field in recent years. Most of these bookkeeping software market themselves as your client’s business partner.
View MoreUsing Digital Innovation
As a company’s clientele expands, the organization must grow with it. Using digital innovation can help you reach clients and customers through low-cost, measurable channels.
View MorePrepare for What’s Next: The Proposed Accounting Standard Update on Accounting and Disclosure for Certain Crypto Assets
An important goal of the Financial Accounting Standards Board (FASB) is listening to the concerns, insights and other feedback of stakeholders. One primary concern communicated by stakeholders via the 2021 FASB invitation to comment on the Board’s agenda related to crypto assets.
View MoreTennessee Department of Revenue Issues Notices on Tennessee Works Tax Act Changes
The Tennessee Department of Revenue has recently issued Important Notices #23-04 through #23-11 regarding changes made by the Tennessee Works Tax Act (SB275/HB323), which was passed in April by the Tennessee General Assembly.
View MoreFASB Issues Proposal To Clarify Accounting Guidance Related to Profits Interest Awards
The Financial Accounting Standards Board recently published a proposed Accounting Standards Update intended to improve generally accepted accounting principles by adding illustrative guidance to help entities determine whether profits interest and similar awards should be accounted for as a share-based payment arrangement within the scope of Topic 718, Compensation—Stock Compensation.
View MoreSEC Adopts Amendments on Private Fund Reporting and Share Repurchase Disclosure
The Securities and Exchange Commission recently adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds, as well as amendments intended to modernize the disclosure requirements relating to repurchases of an issuer’s equity securities.
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