January-February 2025

Flipbook

In this issue:

January 15, 2025

Take Note

TXCPA’s Advocacy Day and Midyear Leadership Council Meeting

January 28-29, 2025, Austin, TX

Make your plans now to attend the 2025 Advocacy Day and Midyear Leadership Council Meeting on January 28-29 in Austin! Hear legislative updates from knowledgeable and popular speakers on Tuesday morning, then head to the Capitol to engage directly with lawmakers and staff about TXCPA’s key legislative agenda items. This dynamic event is open to all TXCPA members – don’t miss your chance to make an impact!

Downright Austin, a Renaissance Hotel, Previously the Sheraton Austin Hotel at the Capitol, 701 East 11th St., Austin, TX 78701, 512-478-1111

Rate: $249 single or double + 15% occupancy tax; Parking: Self-parking discounted to $20/day; Cutoff Date: January 12, 2025

Click here for more details.

TXCPA's 2025 CPE Programs

Mark your calendar now for these conferences in spring and summer 2025!

View the upcoming schedule in the Education area of our website.

Free CPE Webcasts for Members

TXCPA Passport – CPE on Your Schedule

Newly updated courses are now available. Click here to see the current list and subscribe.

Clarification for Today's CPA Article on Mitigating Medicare Mistakes

The article, "Mitigating Medicare Mistakes: The CPA's Role in Navigating IRMAA Challenges," in the November/December 2024 Today’s CPA issue discussed strategies CPAs could recommend to help smooth out or reduce Modified Adjusted Gross Income (MAGI). It suggested tax-efficient investments, such as municipal bonds or life insurance policies, which might not count toward MAGI.

However, clarification is necessary: MAGI starts with Adjusted Gross Income (AGI) but requires adding back certain nontaxable items to arrive at MAGI. While tax exempt interest (such as interest on some municipal bonds) is excluded from AGI, it must be added back in computing MAGI for purposes of IRMAA. This add-back is required for determining Part B and Part D Medicare premiums under Title 42, Sections 1395r(i)(4) and 1395w-113(a)(7)(C) of the U.S. Code.

Boost Your Well-Being: Printable Physical Wellness Checklist

Positive physical health habits can help decrease your stress, lower your risk of disease and increase your energy. Check out this printable physical wellness checklist from the National Institutes of Health for some tips on improving your physical health.

If you're facing challenges related to addiction, substance abuse or mental health, TXCPA Peer Assistance is available to provide support. Go to tx.cpa/resources/acan.

Secure Your Future with TXCPA Member Insurance

Protect what matters most – your family, your home and your career – with the TXCPA Member Insurance Program. Designed exclusively for CPAs, our trusted, association endorsed insurance provides exceptional value and peace of mind.

Why choose TXCPA Member Insurance?

  • Tailored Protection: Coverage crafted specifically for professionals and their families.
  • Exclusive Savings: Enjoy special member rates from top-rated insurance carriers.
  • Meaningful Impact: Your participation helps advance the mission of the Texas Society of CPAs.

Learn more today! Visit txcpainsure.org or call 800-428-0272 and explore your options.

Now Hiring? Turn to the TXCPA Career Center

Post your open positions for new and experienced accounting staff on the TXCPA Career Center! Members receive exclusive discounts and internship postings are always free. Highlight your organization’s culture, benefits and growth opportunities to attract top talent. Visit careers.tx.cpa to get started and find your next superstar!

Management Accountants - Stand Out With the CGMA® Designation

The Chartered Global Management Accountant (CGMA®) designation is a globally recognized professional credential for management accountants. It was established through a joint venture between the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).

The CGMA designation signifies expertise in management accounting and is highly regarded by employers for leadership, strategic thinking, and financial analysis skills. Key features include:

  • Global Recognition - It is one of the most recognized management accounting designations globally.
  • Focus on Strategy and Leadership - It emphasizes strategic financial management and leadership skills.
  • Ethics and Professionalism - CGMAs adhere to a code of ethics and demonstrate professionalism.

To learn more, visit the CGMA website.

 

Thanks to the Sponsors of Today's CPA Magazine

This content was made possible by the sponsors of this issue of Today's CPA Magazine:

Accounting Biz Brokers

Accounting Practice Sales

Capstan

CPA Charge

efile4Biz

Goodman Financial

Poe Group Advisors

 


 

July-August 2025

Flipbook

In This Issue

  • Meet TXCPA’s 2025-2026 Chair Billy Kelley

    Billy Kelley, CPA and managing partner at Dutton, Harris & Co, is the 2025-2026 Chair of TXCPA. With a background in public accounting, industry and entrepreneurship, he is passionate about leadership, mentorship and strengthening the CPA pipeline.
    View Article

  • CPE: What to Know About Profits Interest

    Profits interest is a form of partnership ownership that offers recipients a share of future profits without a capital contribution. While offering strategic advantages, profits-interest contracts involve complex tax and accounting considerations and remain subject to potential regulatory changes.
    View Article
    CPE Creditable

  • What’s Happening Around Texas - July-August 2025

    Members in Austin held a happy hour to wrap up tax season and Houston members volunteered at the Botanic Gardens. Permian Basin members teamed up with UTPB students for a city cleanup. Southeast Texas gathered for a Spring Meeting and Victoria enjoyed a festive Member Appreciation Event.
    View Article

  • 2025-2026 TXCPA Chapter Officers

    Introducing TXCPA’s 2025-2026 chapter leaders – a dynamic group of professionals ready to elevate the accounting profession. With passion, purpose and a bold vision, they’ll guide our chapters forward and help shape the future of TXCPA across the state.
    View Article

  • Optimizing Auditor Precision: Addressing Biases in Large Language Model Technologies

    Large Language Models (LLMs) are transforming accounting and auditing by improving efficiency, uncovering financial trends and analyzing unstructured data, but using them also introduces risks, especially biases from training data and algorithms. Professionals are encouraged to stay educated on AI trends to use LLMs effectively.
    View Article

  • Meet the Chair

    In his first message as TXCPA Chair, Billy Kelley discusses his passion for TXCPA and goals for the year. He also reflects on the recent Annual Meeting in Galveston and encourages member engagement.
    View Article

  • TXCPA’s Successes and Key Issues from the 89th Texas Legislative Session

    TXCPA had a highly successful 89th Legislative Session, securing two major wins. Senate Bill 262 creates an additional pathway to CPA licensure and Senate Bill 522 modernizes CPA practice mobility. These achievements strengthen the CPA pipeline and protect the public.
    View Article

  • How ESG Can Create Value for Your Business

    The SEC has introduced climate-related disclosure rules to improve transparency for investors, sparking both support and criticism. This article highlights how businesses can view Environmental, Social and Governance (ESG) not just as a compliance issue but as a value-creating strategy.
    View Article

  • Increasing Your Marketing Prowess: How CPAs Can Market with Confidence

    This article discusses common misconceptions that CPAs have about marketing and how even the most successful innovators have marketed their ideas effectively. It offers practical tips for CPAs to market themselves authentically by focusing on excellent client service, continuously improving their skills and committing to execution.
    View Article

  • Take Note

    In this edition of Take Note: Accounting Opportunities Month; TXCPA Leadership Nominations; Accountants Confidential Assistance Network (ACAN); CGMA® Designation for Management Accountants; TXCPA’s 2025 CPE Programs; Accounting Excellence Awards Presented
    View Article

  • Classifieds

    The classified ad section features listings for practice sales, firm buyers and specialized services. Whether you're expanding, selling or exploring niche opportunities, these ads connect you to valuable prospects and resources.
    View Article

CHAIR
Mohan Kuruvilla, Ph.D., CPA

PRESIDENT/CEO
Jodi Ann Ray, CAE, CCE, IOM

CHIEF OPERATING OFFICER
Melinda Bentley, CAE

EDITORIAL BOARD CHAIR
Jennifer Johnson, CPA

MANAGER, MARKETING AND COMMUNICATIONS
Peggy Foley
pfoley@tx.cpa

MANAGING EDITOR
DeLynn Deakins
ddeakins@tx.cpa

COLUMN EDITOR
Don Carpenter, MSAcc/CPA

DIGITAL MARKETING SPECIALIST
Wayne Hardin, CDMP, PCM®

CLASSIFIEDS
DeLynn Deakins

Texas Society of CPAs
14131 Midway Rd., Suite 850
Addison, TX 75001
972-687-8550
ddeakins@tx.cpa

 

Editorial Board
Derrick Bonyuet-Lee, CPA-Austin;
Aaron Borden, CPA-Dallas;
Don Carpenter, CPA-Central Texas;
Rhonda Fronk, CPA-Houston;
Aaron Harris, CPA-Dallas;
Baria Jaroudi, CPA-Houston;
Elle Kathryn Johnson, CPA-Houston;
Jennifer Johnson, CPA-Dallas;
Lucas LaChance, CPA-Dallas, CIA;
Nicholas Larson, CPA-Fort Worth;
Anne-Marie Lelkes, CPA-Corpus Christi;
Bryan Morgan, Jr, CPA-Austin;
Stephanie Morgan, CPA-East Texas;
Kamala Raghavan, CPA-Houston;
Amber Louise Rourke, CPA-Brazos Valley;
Shilpa Boggram Sathyamurthy, CPA-Houston, CA
Nikki Lee Shoemaker, CPA-East Texas, CGMA;
Natasha Winn, CPA-Houston.

CONTRIBUTORS
Melinda Bentley; Kenneth Besserman; Kristie Estrada; Holly McCauley; Craig Nauta; Kari Owen; John Ross; Lani Shepherd; April Twaddle; Patty Wyatt