CPA Practice Advisor - 3

AUGUST 2020
VOLUME 30
NUMBER 7

6
ON THE COVER:

2020 INNOVATION
AWARDS
8	Innovation Awards
Announced
By Isaac M. O'Bannon,
Managing Editor

ISSUE FOCUS:
MULTI-STATE
TAXATION

19	
As States Look to
Bounce Back, Tax
Leaders Need to Engage
with Lawmakers
By Michael J. Bernard, J.D.

2020 PRODUCT REVIEWS
20	TAX DOCUMENT
AUTOMATION
By Mary Girsch-Bock

COLUMNS

4	FROM THE EDITOR:
NASBA: Is It Time for a
COVID-19 CPE Break?
By Gail Perry, CPA, Editor-in-Chief

6	FROM THE TRENCHES:
Do You Have a Clear
Vision for Tax Document
Automation?
By Randy Johnston

23	THE LEADERSHIP ADVISOR:
Communication Methods in
Our New Work Environment
By Amy Vetter, CPA.CITP, CGMA

38 	THE LABOR LAW ADVISOR:
Age and Other PostPandemic Discrimination
Claims
By Richard D. Alaniz, J.D.

33 	THE MILLENNIAL ADVISOR:
Office Space: You're Not
Home Alone
By Garrett Wagner, CPA.CITP

24	 FIXED ASSET MANAGEMENT
By Mary Girsch-Bock

23

47 	BRIDGING THE GAP:
Creating a Data Culture
By Amanda Wilkie

32

FEATURES

5 	WHO REALLY WON THE
SCOTUS RULING ON TRUMP'S
TAXES?
By Ken Berry, J.D.
CPA Practice Advisor Tax
Correspondent

27 	HEALTH-RELATED BENEFITS
UNDER THE CARES ACT
By Mike D'Avolio, CPA, J.D.

30	STATE INCOME TAX

44	
How to Conduct a Business
Insight Review
By Jim Buffington, CPA

YEAR IN THE LIFE OF A
PAYROLL ACCOUNTANT:

36	A Primer on IRS Continuous
Wage Garnishments
By Arnold van Dyk, Esq.

39	How to Modernize Your Firm
By Larry Furr

COMPLEXITY
By John Paek, Michael Spencer and
Sherfon Coles-Williams

31	
What is a Series LLC and Why
Your Clients Should Care
By Nellie Akalp

32	APPS WE LOVE:
At-Home Education Apps
By Gail Perry, CPA - Editor-iin-Chief

MARKETING YOUR FIRM

35	SEO Keyword Tips to Boost
Your Firm's Google Ranking
By Becky Livingston

42	
CARES Act Causing Business
Valuation Concerns
By James Gallagher

46	 AICPA NEWS
	
A round up of recent 		
	
association news and events.
34	THE PROADVISOR SPOTLIGHT:
Sponsored Content

Streamlined Invoicing and
Tasks Among New Features
in QuickBooks Online
Advanced
SPECIAL ADVERTISING SECTION

2020
ACCOUNTANTS PRODUCT
& SERVICE GUIDE
PAGES 28 AND 29

WEB EXCLUSIVES
CHECK OUT OUR PRODUCT & SERVICE GUIDE
www.CPAPracticeAdvisor.com/directory
IRS ENCOURAGES REPORTING OF CASH
TRANSACTIONS
www.CPAPracticeAdvisor.com/21147237

WHAT IS A SERIES LLC AND WHY YOUR
CLIENTS SHOULD CARE
www.CPAPracticeAdvisor.com/21147745

MORE AMERICANS TAPPING EMERGENCY
SAVINGS DUE TO COVID
www.CPAPracticeAdvisor.com/21147393

DIGITAL CPA CONFERENCE TO BE ALL-VIRTUAL
www.CPAPracticeAdvisor.com/21148649

IRS SETS PTIN FEE AT $36
www.CPAPracticeAdvisor.com/21146570

AUGUST 2020 ■

www.CPAPracticeAdvisor.com

3


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CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor

From the Editor: NASBA: Is it Time for a COVID-19 CPE Break?
Who Really Won the SCOTUS Ruling on Trump's Taxes?
From the Trenches: Do You Have a Clear Vision for Tax Document Automation?
Innovation Awards Announced
Multi-State Taxation: As States Look to Bounce Back, Tax Leaders Need to Engage with Lawmakers
2020 Product Review: Tax Document Automation
The Leadership Advisor: Communication Methods in Our New Work Environment
2020 Product Review: Fixed Asset Management
Health-Related Benefits Under the CARES Act
2020 Accountants Product & Service Guide
State Income Tax Complexity
What is a Series LLC and Why Your Clients Should Care
Apps We Love: At-Home Education Apps
The Millennial Advisor: Office Space: You're Not Home Alone
The ProAdvisor Spotlight: Streamlined Invoicing and Tasks Among New Features in QuickBooks Online Advanced
Marketing Your Firm: SEO Keyword Tips to Boost Your Firm's Google Ranking
Year in the Life of a Payroll Accountant: A Primer on IRS Continuous Wage Garnishments
The Labor Law Advisor: Age and Other Post-Pandemic Discrimination Claims
How to Modernize Your Firm
CARES Act Causing Business Valuation Concerns
How to Conduct a Business Insight Review
AICPA News
Bridging the Gap: Creating a Data Culture
CPA Practice Advisor - 1
CPA Practice Advisor - 2
CPA Practice Advisor - 3
CPA Practice Advisor - From the Editor: NASBA: Is it Time for a COVID-19 CPE Break?
CPA Practice Advisor - Who Really Won the SCOTUS Ruling on Trump's Taxes?
CPA Practice Advisor - From the Trenches: Do You Have a Clear Vision for Tax Document Automation?
CPA Practice Advisor - 7
CPA Practice Advisor - Innovation Awards Announced
CPA Practice Advisor - 9
CPA Practice Advisor - 10
CPA Practice Advisor - 11
CPA Practice Advisor - 12
CPA Practice Advisor - 13
CPA Practice Advisor - 14
CPA Practice Advisor - 15
CPA Practice Advisor - 16
CPA Practice Advisor - 17
CPA Practice Advisor - 18
CPA Practice Advisor - Multi-State Taxation: As States Look to Bounce Back, Tax Leaders Need to Engage with Lawmakers
CPA Practice Advisor - 2020 Product Review: Tax Document Automation
CPA Practice Advisor - 21
CPA Practice Advisor - 22
CPA Practice Advisor - The Leadership Advisor: Communication Methods in Our New Work Environment
CPA Practice Advisor - 2020 Product Review: Fixed Asset Management
CPA Practice Advisor - 25
CPA Practice Advisor - 26
CPA Practice Advisor - Health-Related Benefits Under the CARES Act
CPA Practice Advisor - 2020 Accountants Product & Service Guide
CPA Practice Advisor - 29
CPA Practice Advisor - State Income Tax Complexity
CPA Practice Advisor - What is a Series LLC and Why Your Clients Should Care
CPA Practice Advisor - Apps We Love: At-Home Education Apps
CPA Practice Advisor - The Millennial Advisor: Office Space: You're Not Home Alone
CPA Practice Advisor - The ProAdvisor Spotlight: Streamlined Invoicing and Tasks Among New Features in QuickBooks Online Advanced
CPA Practice Advisor - Marketing Your Firm: SEO Keyword Tips to Boost Your Firm's Google Ranking
CPA Practice Advisor - Year in the Life of a Payroll Accountant: A Primer on IRS Continuous Wage Garnishments
CPA Practice Advisor - 37
CPA Practice Advisor - The Labor Law Advisor: Age and Other Post-Pandemic Discrimination Claims
CPA Practice Advisor - How to Modernize Your Firm
CPA Practice Advisor - 40
CPA Practice Advisor - 41
CPA Practice Advisor - CARES Act Causing Business Valuation Concerns
CPA Practice Advisor - 43
CPA Practice Advisor - How to Conduct a Business Insight Review
CPA Practice Advisor - 45
CPA Practice Advisor - AICPA News
CPA Practice Advisor - Bridging the Gap: Creating a Data Culture
CPA Practice Advisor - 48
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