#cpa
Guidance on choosing, working with, and understanding Certified Public Accountants
ASC 842 treats many service contracts — IT hosting, 3PL warehousing, power purchase agreements, equipment-as-a-service — as leases when the contract names an identified asset and the customer directs its use. This guide covers the two-test framework, the four contract categories where embedded leases hide, the practical-expedient trade-offs, and a procurement-to-accounting screening workflow.
A practical guide for HOA boards, treasurers, and small-firm CPAs on the Section 528 election, the four Form 1120-H eligibility tests, the 30% flat rate trade-off versus Form 1120, and why every association should record an annual Revenue Ruling 70-604 vote.
A small-business guide to the forced cash-to-accrual switch: how Form 3115 works, how the Section 481(a) catch-up is calculated and spread over four years, and why the de minimis safe harbor is an annual election rather than a method change.
A step-by-step guide to ASC 205-40 — how management evaluates substantial doubt about going concern within one year of issuance, which mitigating plans qualify, what to disclose under each of the three outcomes, and how to coordinate with auditors under AU-C 570 and PCAOB AS 2415 to land an unmodified opinion.
Section 6751(b) requires a real IRS supervisor to personally approve penalties in writing before assessment. A working guide to using Chai, the Graev trilogy, and the December 2024 final regulations to defeat accuracy-related, fraud, and information-return penalties — which penalties qualify, what documents to demand, and how to raise the argument at Appeals before paying for Tax Court.
A practitioner's walkthrough of Circular 230—Sections 10.22, 10.29, 10.34, 10.36, 10.37, and 10.51—covering conflicts of interest, return-position standards, written-advice hygiene, and how OPR investigations actually proceed.
Form 8275 is a one-page disclosure statement that, when attached to a tax return, can neutralize the 20% Section 6662 accuracy-related penalty and the Section 6694 preparer penalty for gray-area positions that have a reasonable basis.
Form 8275 lets taxpayers disclose debatable tax positions with the IRS to defeat the 20% Section 6662 accuracy-related penalty when a position has at least a reasonable basis. Covers when to use Form 8275 versus Form 8275-R, what counts as adequate disclosure, timing rules, and Section 6694 preparer-penalty protection.
A practical guide to AR-C 70 preparation, AR-C 80 compilation, and AR-C 90 review engagements — what each delivers, typical fee ranges, and how private companies match the right tier to lender, surety, and investor requirements without paying for unused assurance.
How private-company controllers build the ASC 740 income tax provision—current and deferred components, valuation allowances, UTBs, and the new ASU 2023-09 disclosures that take effect for fiscal years beginning after December 15, 2025.
How private company controllers can build a clean ASC 740 income tax provision in 2026 — current and deferred tax, Schedule M-1 reconciliation, valuation allowances, uncertain tax positions, and the new ASU 2023-09 disaggregated income-taxes-paid and qualitative rate disclosures.
Form 8886 discloses reportable transactions to the IRS. Missing it triggers a Section 6707A penalty up to $200,000 per year for entities and keeps the assessment statute open indefinitely on listed transactions under Section 6501(c)(10). This guide breaks down the five categories, the penalty math, filing mechanics, and the foreign currency loss trap that catches accidental filers.
