Journal of Accountancy Podcast

Melanie Lauridsen, Vice President of Tax Policy & Advocacy at the AICPA, discusses the looming implications of a government shutdown on IRS operations. She highlights the contrast between the IRS's definition of filing season and the reality faced by tax practitioners. Lauridsen also sheds light on the IRS's controversial decision to phase out paper tax refunds and its potential impact. Additionally, she reveals estimated cost savings from preserving the state and local tax deduction, emphasizing the importance of guidance for upcoming tax provisions.

Jimmy Robinson, CPA, CGMA, the national chair of the AICPA Dealership Conference, and his co-presenter and co-worker Jesse Stopnitzky joined the JofA podcast to preview discussion points of their conference session later this month. Their expertise is industry-specific, but some of the topics are applicable to a broader audience. Robinson, a former dealership CFO, shared the key traits of strong finance leadership, and Stopnitzky offered advice for better succession planning. What you’ll learn from this episode: The aspect of M&A deals that is, to Stopnitzky, more art than science. How merger activity has changed since the COVID-19 pandemic. Robinson’s list of the key traits of strong finance leaders. Why succession planning involves far more than naming a successor. Disruptive events and key shifts in the automotive industry.

Sarah Ference, CPA, an author of the JofA’s Professional Liability Spotlight column, returns to the JofA podcast to discuss recent column topics and the advice CPAs can gain from them. In particular, Ference details some of the risks for CPA firms engaging in mergers and acquisitions, the subject of a recent two-part series. The articles discussed in this episode are: n  June: “Form 1065: Pay Attention or Pay Up.” n  July: “Professional Liability Risk Stemming From CPA Firm Acquisitions: Part 1.” n  August: “Professional Liability Risk Stemming From CPA Firm Acquisitions: Part 2.” n  September: “Start Risk Management With Employee Onboarding.” What you’ll learn from this episode: Why CPA firms should pay close attention to recent changes in tax compliance for partnerships. A summary of the two-part article on professional liability risk related to CPA firm acquisitions. The importance of cultural alignment in firm acquisitions. What “tail coverage” is and why it’s essential for post-transaction protection. How a strong onboarding process can serve to mitigate some risks for firms — and why that topic is timely this month.

In this insightful discussion, Annette Nellen, Esq., CPA, CGMA, a university tax professor and IRS Advisory Council member, tackles the complexities of H.R. 1 and the overwhelming misinformation in tax today. She emphasizes that despite the rise of AI tools, tax professionals must remain critical thinkers in their analysis. Nellen highlights permanent and new tax provisions, the importance of accurate guidance, and shares compelling court cases she's monitoring. Additionally, she discusses the significance of the upcoming National Tax Conference for practitioners.

Karim Ellis is the keynote speaker at the AICPA Governmental and Not-for-Profit Conference in October in Las Vegas. The early-bird registration deadline for the event is Friday. For Ellis, the qualities of a strong speaker are similar to the ones needed in a strong leader: empathy, preparedness, adaptability, and excellent storytelling skills. In this conversation, Ellis shares how he prepares for speaking, some of the rookie mistakes he made decades ago, and why the experience of taking some foul-tasting cough syrup has stuck with him. What you’ll learn from this episode: ·         The meaning for Ellis of the phrase “iron sharpens iron; rust sharpens rust.” ·         Why a speaker’s preparation is like baking a cake. ·         How Ellis adapts if he senses his message is failing to resonate with an audience. ·         An example from his childhood that illustrates the power of good storytelling. ·         His advice for conference attendees’ choice of seats for his session.

Sentiment about the U.S. economy improved slightly — but not nearly enough to be considered a positive outlook — in the latest quarterly Business and Industry Economic Outlook Survey by the AICPA and CIMA. For a breakdown of the results, the JofA podcast welcomed back Ken Witt, CPA, CGMA, associate director–Management Accounting Research & Development. He discusses finance decision-makers’ views on tariffs and inflation and the 12-month projections for revenue and profit. What you’ll learn from this episode: ·         The “softening” related to domestic economic conditions — and why that’s not enough to overcome mainly negative sentiment. ·         The percentage of executives who foresee a recession this year or next. ·         Finance leaders’ approaches in response to tariffs. ·         The top challenges beyond inflation facing survey respondents. ·         How respondents feel about the state of the global economy.

“Maybe I never will change the whole world. But every day, I can change my world.” Those are the words of profession leader Lindsay Stevenson, CPA, CGMA. She’s back on the JofA podcast, this time in person from her house in South Dakota. Stevenson discussed technology adoption, how her firm approaches remote work, and why keeping a journal at least for part of the year is important to her. Stevenson, chief transformation officer at the firm BPM, also addressed how she views fear as it relates to career moves — and how she thought about that differently in a 2019 conversation. What you’ll learn from this episode: The reason her firm has geographical regions and a virtual region. Why unplugging is difficult but necessary for Stevenson. Why she likes an at-home vacation more than a big trip. Her approach to overcoming fear and how that approach has changed in the past six years. AI: its danger, its potential, and how she is using it. The gratitude-based journaling practice she recommends.

“We’re not short on things to do.” Those are the words of Mark Koziel, CPA, CGMA, CEO of the Association of International Certified Professional Accountants and president and CEO of the AICPA. He’s been in that role since the start of the year and traveled all over the world hearing from members. Summer’s end seemed like a good time for a progress report on a variety of fronts from Koziel, who at the time of publication was visiting Asia. This is a special edition of the podcast, published jointly on the Journal of Accountancy and FM channels. What you’ll learn from this episode: ·         Koziel’s ideal walkup song, nearly a year after his introduction included Ozzy Osbourne’s “Mama, I’m Coming Home.” ·         The skills gap affecting businesses around the world. ·         Global influence on accounting and standard setting. ·         Advocacy success, specifically in the United States. ·         The significance of preserving the passthrough entity tax deduction. ·         Examples of the perseverance that helped deliver that advocacy victory. ·         An update on CPA licensure efforts.

Jen Wilson admittedly loves her work. As partner and co-founder at ConvergenceCoaching LLC, she’s on the road often, advising accounting firms and profession leaders. Sometimes, that travel and love of work can give her colleagues cause for concern. “It troubles them if they can't see me unplug,” Wilson said. This episode of the JofA podcast, the second of a three-episode Midwest series focusing on summer travel, features Wilson talking about the value of time away. It was recorded in person, at her house in Bellevue, Neb. Wilson discussed the benefits of a two-week, end-of-year closure and why despite understanding the importance of a refresh, she sometimes takes work with her on vacation. Additionally, as the independent facilitator for the National Pipeline Advisory Group (NPAG), Wilson is plugged in to the talent issues facing the profession. She provided an update on where things stand with accounting talent with 2026 about four months away. What you’ll learn from this episode: ·         Wilson’s background as a longtime resident of Nebraska. ·         The reasons she travels often for work in the summer. ·         Why Wilson sometimes takes work with her on vacation – and her family’s reaction to that decision. ·         The benefits of an extended, full-company closure. ·         Her assessment of the accounting talent pipeline. ·         The meaning she finds in the quote, “Your direction is more important than your speed.”

For Carrie Kruse, CPA, CGMA, mental clarity is one goal of going on vacation. Also, Kruse likes to be tested while away from her job as economic development administrator for Iowa’s capital city, Des Moines. In Kruse’s words, she loves “to be challenged in ways outside of my professional sphere.” Recently, that challenge was a hike of more than 100 mountainous miles in Europe. That challenge also meant she unplugged from work for two weeks, which helped to ensure she returned to Iowa refreshed. This conversation is the first of a three-episode road trip to the Midwest with a theme of summer travel and the importance of taking time away. Episodes with finance leaders in Nebraska and South Dakota are coming later in the summer. What you’ll learn from this episode: ·         The particulars of Kruse’s economic development role. ·         Why she says that Des Moines punches above its weight. ·         The type of vacation Kruse takes depending on the time of year. ·         How a recent trip to Europe underscored the importance of unplugging. ·         The value of serving on the Government Performance and Accountability Committee.