July-August 2026
FEATURED ARTICLE
Grounded in Faith, Guided by Purpose: The Journey of Angela RaganTXCPA’s incoming Chair Angela Ragan has built a career rooted in faith, service and leadership. Inspired by an early interest in accounting, she now helps clients navigate complex tax, business and estate planning matters. Beyond her professional success, Ragan is deeply involved in TXCPA, community service and church leadership. Her story reflects a lifelong commitment to integrity, compassion and serving others.
- Capital Gains
- Cryptocurrency tax
- DeFi transactions
- Digital Assets
- NFTs
- Regulatory guidance
- Tax strategies
As cryptocurrency continues to become more integrated into everyday financial activity, tax compliance for digital assets remains a growing focus for practitioners. This article offers practical guidance on cryptocurrency taxation, emphasizing the importance of continuing education, monitoring regulatory developments, and maintaining records to support accurate and compliant tax reporting.
By Thuminh Dang and Ran Li
- Community Engagement
- Fundraising
- Member Networking
- Professional Development
- Student Outreach
- Volunteer Recognition
TXCPA chapters across Texas hosted a variety of events. Highlights included the Brazos Valley Annual Meeting featuring career insights and advocacy updates, and outreach connecting accounting professionals with aspiring CPAs. Houston members celebrated VITA volunteers and strengthened community ties. TXCPA Panhandle raised scholarship funds through its first golf tournament, while South Plains members closed the year with a meeting focused on connections and member recognition.
- Audits
- Data management
- Documentation
- Estimation risk
- Liability exposure
- Texas Comptroller
- Texas Sales Tax
Texas sales tax audits are becoming more data-driven, making accurate recordkeeping critical to avoiding costly assessments. When businesses lack complete documentation, auditors must estimate liability, often leading to inflated taxes, penalties and interest. Strong internal controls, organized records and experienced audit support are essential to achieving successful audit outcomes.
By Michael J. Robertson
- Community
- CPA Licensure
- Leadership
- Member and volunteer engagement
- Professional Development
- TXCPA Advocacy
TXCPA's incoming Chair Angela Ragan welcomes the new year, highlighting members’ role in strengthening the profession through mentorship, innovation and engagement. Looking ahead, TXCPA will focus on navigating continued change, supporting members with education and advocacy, and protecting the value of the CPA license.
By Angela Ragan, TXCPA Chair
- Cash Flow
- Deal structuring
- Exit Planning
- Firm Culture
- Market position
- Strategic Fit
- Succession
Private equity firms and family offices prioritize acquisition targets with reliable cash flow, strong leadership and clear growth potential. Key factors include clean financials, a capable management team, and a defensible market position supported by loyal customers or exclusive relationships. Overall, businesses that prepare well in advance and strengthen these areas tend to achieve better outcomes in a sale or recapitalization.
By Evan Lee and Rick Stein
- Adaptive framework
- Audit materiality
- Blockchain
- Cybersecurity Risk
- ESG Reporting
- Explainable AI
- Professional judgment
- Risk assessment
Traditional materiality benchmarks like the 5% rule are no longer sufficient given modern risks such as ESG issues, financial volatility and cybersecurity. The Adaptive Materiality Framework allows auditors to reassess materiality dynamically when risk events occur. The framework improves consistency, transparency and audit quality while still relying on professional judgment.
By Achintya Ghayal
- 2026 Elections
- CPA Licensure
- CPA mobility
- Deregulation
- Key Person Program
- Legislative Priorities
- TXCPA Advocacy
- TXCPA PAC
Following key victories that expanded CPA licensure pathways and modernized practice mobility, TXCPA is preparing for the 2027 legislative session. We are monitoring potential deregulation efforts across the country that could weaken licensing standards and public protection. As we develop the 2027 legislative agenda, member involvement is key to help advocate for policies that support the profession’s long-term strength.
By Kenneth Besserman, JD, LLM
- ACAN
- Accounting Excellence Award
- Addiction support
- Leadership nominations
- Member Engagement
- Peer Assistance
- Student awards
- Word Game
In this edition of Take Note: Leadership Nominations; Accountants Confidential Assistance Network (ACAN); TXCPA's Mentor Match Program; Word Game - Texas Sales Tax Audits; Accounting Excellence Award Recipients
- Equity investment
- Exit Planning
- Firm valuation
- Growth opportunities
- M&A listings
- National Sales Tax
- Practice sales
- Texas Sales Tax
The Classifieds section of Today's CPA provides a one-stop destination to find practices for sale, connect with buyers, and access services that support growth, transition and market expansion.