January-February 2025

Flipbook

In this issue:

January 15, 2025

TXCPA Thanks Our 2024-2025 Professional Group Membership Program Participants!

A big thank you to the firms and companies that participated in TXCPA’s 2024-2025 Professional Group Membership program for membership renewals and new member activations. Are you ready to make membership renewal a breeze while adding more value for your team? Connect with Kristie Estrada, Manager of Membership Operations and Acquisition, at 800-428-0272, ext. 8560, to learn about our group billing option.

A.J. Brune & Associates PLLC
ABIP PC
Ablon & Co PLLC
Adam Valdez CPA PLLC
Adami Lindsey & Co LLP
Adamson & Company LLC
ADKF PC
Alexander Lankford & Hiers CPAs Inc
Allman & Associates Inc
Anderson Spector & Company PC
Anderson, Johns, Yao & Davis CPAs, P.C.
Andre + Associates PC
Anita L Woodlee Roach & Associates PC
Aprio
Armanino LLP
Armstrong Backus & Co LLP
Armstrong Vaughan & Assoc PC
Arnie & Company
Arnold Walker Arnold & Co PC
Asel & Associates PLLC
Atchley & Associates LLP
ATKG LLP
Axley & Rode LLP
B Hensley & Co LLC
Bailes & Co PC
BAKC LLP
Barg & Henson CPAs PLLC
Barrett & Thomas PC
Barry & Capers PC
Barry M Wuntch LLP Certified Public Accountants
BDO USA LLP
Beaird Harris & Co PC
Beal & Wilkes PC
Beasley Mitchell & Co
Benedict McCabe LLC
Benton Duroy & Ivey PC
Bland Garvey PC
Blazek & Vetterling
Bock & Associates LLP
Bolinger Segars Gilbert & Moss LLP
Bolton Sullivan Taylor & Weber CPAs
Brammer Begnaud & Lattimore CPAs
Brewer Eyeington Patout & Co LLP
Bright & Bright LLP
Britts & Associates LLP
Brockway Gersbach Franklin & Niemeier PC
Brown Graham & Company PC
Brunott CPA & Associates, LLC
Bryant & Welborn LLP CPAs
Buckley & Associates PC
Bumgardner Morrison & Company LLP
Burchell Denson & Morrison LLC
Burds Reed & Mercer PC
Burkhart Peterson & Co PLLC
Burnett Oil Co Inc
Burton McCumber & Longoria LLP
Butterworth & Macias PC
BWC & Associates Inc
Calhoun Thomson & Matza LLP
Calloway Stinson and Company
Candy & Schonwald
Cantrell & Associates PC
Canutillo Independent School District
Carameros & Rawls
Carpenter & Langford, PC
Carr Riggs & Ingram LLC
Carter & Company
Castle & Company CPAs PLLC
Cavett Turner & Wyble LLP
CB&C CPA PC
CD Bradshaw & Associates PC
Cherry Bekaert LLP
Chilton Wilcox & Fortenberry
City of Fort Worth
CLA
CMMS CPAs & Advisors
CohnReznick LLP
Coleman Horton & Company LLP
Collier Johnson & Woods PC
Colonial Savings FA
Conder Kletchka & Associates PLLC
Condley and Company LLP
Cook Parker and Associates LLC
Crawford Carter & Durbin LLC
Croucher Hackett Calleros & Co PC
Crowe LLP
CrownQuest Operating LLC
Cuellar Morales Gonzalez & Co PLLC
D Williams & Co PC
Daniels & Erickson PC
Davidson Freedle Espenhover & Overby PC
Dawson Geophysical Company
Delta Centrifugal Corporation
Desroches Partners LLP
Doeren Mayhew
Dorchester Minerals LP
Durbin & Company LLP
DWG CPA PLLC
Eckert & Company LLP
Edgar Kiker & Cross PC
Edgin Parkman Fleming & Fleming PC
EEPB PC
Eide Bailly LLP
EisnerAmper LLP
El Paso Community College
Erickson Demel & Associates PLLC
Estate of Thomas O’Connor
EW Tax and Valuation Group LLP
Exencial Wealth Advisors
Faske Lay & Co LLP
Fasken Oil & Ranch Ltd
Fayez Sarofim & Co
First National Bank Texas
Fisher Herbst & Kemble PC
Fitts Roberts Kolkhorst & Co PC
Flat Fee Consulting LLC
FMW PC
FORVIS LLP
Fox Byrd & Company PC
Freemon Shapard & Story
Frierson Sola Simonton & Kutac PLLC
Gage & Company CPAs LLP
Gant McGee & Baber PC
Garza & Morales LC
Garza Accounting Professionals PLLC
Garza Gonzalez & Associates
Gaskill Pharis & Pharis LLP
George Morgan & Sneed PC
Gibson Ruddock Patterson LLC
Gilliam Wharram & Co PC
Glenn Prather & Co
Goff & Herrington PC
Goldman Hunt & Notz LLP
Gollob Morgan Peddy PC
Goodman Financial Corporation
Gowland Morales & Smith PLLC
Grier Reeves & Lawley PC
Guinn Smith & Company Inc
Hahn & Oldham PC
Ham Langston & Brezina LLP
Hampton Brown & Associates PC
Harold W Shelburne CPA
Harper & Pearson Company PC
Harrison Waldrop & Uherek LLP
Hartman Wanzor McNamara LLP
Haynie & Company
Heard McElroy and Vestal, LLC
Henry & Company PC
Henry & Peters PC
Hess & Rohmer PC
HM&M
Hoak & Thorp CPAs PC
HoganTaylor LLP
Holtman Wilson & Terrell PC
Horne LLP
Houston ISD
Houston Methodist Hospital
Howard Cunningham Houchin & Turner LLP
HRSS LLP
Hudgins Crosier Sumpter PC
Hupp Bauer Hanson & Lewis
Hurd Enterprises Ltd
Huselton Morgan & Maultsby PC
Ingram Wallis & Co PC
J and K CPA LLC
Jaynes Reitmeier Boyd & Therrell PC
Jeffery A Davidson CPA PC
Jennings Hawley & Co PC
JLK Rosenberger
Johnson & Sheldon PLLC
Johnson Granado & Company PC
Jones Hay Marschall & McKinney PC
JTaylor & Associates LLC
Keller & Associates CPAs PLLC
Kelsey-Seybold Clinic
KHA Accountants PLLC
Kimbell Art Foundation
Kimbell Art Museum
Kimberling McFarland and Associates PC
KM&L LLC
Knuckols Duvall Hallum & Co PC
Kurtz & Company PC
Lain Faulkner & Company PC
Lamar University School of Accounting & Information Systems
Lane Gorman Trubitt LLC
Lange Poteet & Co LLP
LaPorte CPAs & Business Advisors
Lauterbach Borschow & Company PC
Lawrence Blackburn Meek Maxey & Co
Lemert Holder Ohm PLLC
Lewis Kaufman Reid Stukey Gattis & Co PC
Lott Vernon & Co. PC
LPF PLLC
LPT CPAs and Advisors PLLC
LSK CPAs PLLC
M & K CPAs
M2G Ventures LLC
Maddox Thomson & Associates PC
Mangold Anker Phillips PLLC
Marcum LLP
Martinez Rosario & Company LLP
Mason Warner & Company PC
Massey Itschner & Co PC
Massing & Elliott CPAs PLLC
Maxwell Locke & Ritter LLP
Mays & Associates PLLC
Mazur & Vernon
McCall Gibson Swedlund Barfoot PLLC
McClanahan and Holmes LLP
McClelland and Hine Inc
McIlvain & Associates LLC
McMahon Vinson & Hubbard LLP
Meador & Jones LLP
Meadows Collier Reed Cousins Crouch & Ungerman LLP
Melody T Schexnayder PC
Melton & Melton LLP
Mesch PLLC
Mewbourne Oil Company
Mohle Adams LLP
Moore Camp Phillips & Patterson LLP
Moore Truelove Pharis Meyers & Marsh CPAs PLLC
Mosher Seifert & Company CPAs
Moss Adams LLP
MUFG Capital Analytics LLC
MWH Group PC
Neffendorf & Blocker PC
Nelda C & HJ Lutcher Stark Foundation
Newton Newton Downs & Blair PC
Nommensen Williams Sticker & Doyle PC
Okafor & Associates PC
Oliver Rainey & Wojtek LLP
Oroian Guest & Little PC
Pannell Kerr Forster of Texas PC
Pattillo Brown & Hill LLP
Pena Briones McDaniel & Co PC
Perkins Dexter Sinopoli & Hamm PC
Perry D Reed & Company
Petro Hunt LLC
PriceKubecka PLLC
Prothro Wilhelmi & Co PLLC
PSK LLP
PYCO Industries Inc
Rally Credit Unioin
Ramdas Accounting
Randolph-Brooks Federal Credit Union
Ratliff & Associates CPAs PC
Raven A Herron PC
RBMS LLP
Redfield Miller & White LLP
Reynolds & Franke PC
Robison Johnston & Patton LLP
Roloff Hnatek and Co LLP
Ron Kirby CPA
RSM McGladrey Inc
RSM US LLP
Salmon Sims Thomas PLLC
Saville Dodgen & Co PLLC
SBNG PC
Scalco Johnson Leahy & Dudek CPAs PLLC
Schriber & Associates PLLC
Seale & Associates PC
Seidel Schroeder & Company
Shelton Mead & Shelton CPAs
Shenandoah Petroleum Corporation
Snow Garrett Williams
Sol Schwartz & Associates PC
Sommerville & Associates PC
Southside Bank
Spies Kneese & Bailey LLC
Spillar Mitcham Eaton & Bicknell LLP
Sproles Woodard LLP
Squyres & Co LLP
Stallop Compton & Robillard PLLC
Star of Hope Mission
Stedman West Interests Inc
Stephen F. Austin State University College of Business
Steven Bankler CPA Ltd
Stewart Martin Dudley & Webb PC
Stovall Grandey & Allen LLP
Strickler & Prieto LLP
Sutton Frost Cary LLP
Swank Salch & Henderson PC
SWBC
T J Hayes & Co PLLC
TETCO, Inc.
Texas Farm Bureau Insurance Cos
Texas Health Resources
Texas Society of CPAs
TG Advisors PLLC
The Blum Firm PC
The Bonadio Group
The CJ CPA Group, PLLC
The Henry Levy Group
The K FORD Group CPAs
The MB Group LLC
The Palisades Group, LLC
Thomas & Thomas CPAs PLLC
Thomas Edwards Group
Thomas V Stephen & Co PC
Thompson Derrig & Craig PC
Tiller Ketterman & James LLC
Todd Hamaker & Johnson LLP
Turner Stone & Company LLP
Tyler ISD
United Way of Greater Houston
University of Texas at Tyler
Vail & Park PC
Van Houten & Associates PC
VeraBank
Vernon E Faulconer Inc
Wathen DeShong & Juncker LLP
Weaver and Tidwell LLP
Weinstein Spira & Company PC
Wenzel & Associates CPAs LLC
West Texas A&M University
Whitley Penn LLP
Wilf & Henderson PC
Williams Steinert Mask LLP
Williamson County
Wilson Haag PLLC
Wind Energy Transmission Texas, LLC
Wolfe and Company PC
Woodland Advisors LLC
Your Part-Time Controller LLC
YWRD PC

 

 

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

 

 

January-February 2025

Flipbook

In This Issue

  • Assessing AI From a Tax Perspective, Part 1

    The article evaluates the potential use and limitations of AI in addressing tax-related queries during tax season. While AI tools show promise for aiding tax professionals and easing the CPA shortage, their responses are often inaccurate or misleading. The technology can assist with basic tasks, but it is not yet reliable enough to replace the educated judgment of tax professionals.
    View Article

  • CPE: Goodwill and Unit of Accounting

    This article provides an in-depth analysis of goodwill accounting under ASC 350, which defines goodwill as the excess payment over the fair value of acquired assets in a business combination. It covers the complexity of goodwill accounting, its significant financial implications and the importance of informed management judgment in acquisitions.
    View Article

  • What’s Happening Around Texas - January-February 2025

    November's Service Month and Career Awareness Month showcased our members' dedication to making a difference, highlighting their meaningful community impact. Through charitable efforts, educational outreach and career awareness initiatives, their collective generosity was a bright light for the accounting profession.
    View Article

  • The Impact of State Sales Tax Law on Federal Income Tax Returns for Businesses

    State sales tax rules impact federal income tax reporting for businesses operating in multiple states. Proper reporting is crucial to avoid audit risks and ensure compliance with gross receipts thresholds, which can influence tax methods and deductions. Tax practitioners should align financial accounting and tax reporting practices to minimize discrepancies and simplify compliance.
    View Article

  • Communicating with Senior Clients

    Recognizing typical age-related changes and making small adjustments can enhance how CPAs communicate with senior clients. Communication differences are not all related to a person’s generation category. The recommendations in this article draw from research and years of professional practice, as well as personal experience.
    View Article

  • Critical Timing for Licensure Discussions in Texas

    The new year brings a new legislative session in Texas. TXCPA will be advocating for important developments that directly impact your profession and the future of the CPA pipeline in Texas. We encourage you to stay engaged with us as the session progresses.
    View Article

  • Proposed Two-Track Path to a CPA License is Getting Serious Consideration

    A proposed two-track path to CPA licensure aims to address the shrinking pool of potential new entrants into the accounting profession. Traditionally, CPA licensure requires passing the Uniform CPA Exam, completing 150 semester hours of education and completing supervised work experience.
    View Article

  • Spotlight on CPAs: Shristi Upreti Sharma

    TXCPA member Shristi Upreti Sharma discusses her career journey, sharing key milestones and valuable lessons for aspiring CPAs. Passionate about accounting from a young age, she has actionable advice for students pursuing the CPA path, highlighting dedication, strategic planning, mentorship and resilience as essential elements for success.
    View Article

  • Government Affairs: Hold on Tight! Big Changes in the Accounting Profession for 2025

    The 89th Texas Legislative Session begins January 14, 2025, where there will be debates on property taxes, water resources, infrastructure, school choice, and CPA licensing reforms. Key bills for the accounting profession are SB 262 and HB 1757 that include proposals for an alternative CPA licensure pathway, and SB 522 that includes mobility protections. TXCPA will actively advocate for these and other measures.
    View Article

  • FASB’s New ASU 2024-03: Another Step Toward Greater Transparency in Financial Reporting

    The Financial Accounting Standards Board (FASB) issued ASU 2024-03 on November 4, 2024, to enhance financial reporting transparency by mandating more detailed expense disclosures in financial statements. This update, shaped by investor feedback during FASB’s 2021 agenda consultation, aims to help investors better assess a company’s performance, cash flow prospects and industry standing.
    View Article

  • Driving Strategic Growth: ASC 280 Segment Reporting Disclosure Fuels Investor Insight

    Updates to ASC 280 require public companies to disclose detailed segment-level financial data to meet growing investor demands for more insights. Implementing these changes involves identifying operating segments, ensuring data readiness and maintaining compliance with reporting standards. Enhanced transparency will help build investor confidence and support sustainable growth in a competitive, evolving market.
    View Article

  • TXCPA Thanks Our 2024-2025 Professional Group Membership Program Participants!

    TXCPA thanks the firms and companies that participated in our 2024-2025 Professional Group Membership program for membership renewals and new member activations. With our streamlined group billing option, renewing memberships is a breeze, while offering your team added value and benefits!
    View Article

  • Take Note

    In this edition of Take Note: Advocacy Day and Midyear Leadership Council Meeting; TXCPA's 2025 CPE Programs; Clarification for Today's CPA Article on Mitigating Medicare Mistakes; Printable Physical Wellness Checklist; Secure Your Future with Member Insurance; TXCPA's Career Center; Management Accountants - Stand Out With the CGMA® Designation
    View Article

  • Classifieds

    The classified ad section features listings for practice owners looking to sell, professionals seeking firms to purchase and a variety of specialized services. Whether you're looking to expand, sell or explore niche opportunities, this section connects professionals with valuable business 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

 

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