January 15, 2025

Take Note

TXCPA’s Advocacy Day and Midyear Leadership Council Meeting

January 28-29, 2025, Austin, TX

Make your plans now to attend the 2025 Advocacy Day and Midyear Leadership Council Meeting on January 28-29 in Austin! Hear legislative updates from knowledgeable and popular speakers on Tuesday morning, then head to the Capitol to engage directly with lawmakers and staff about TXCPA’s key legislative agenda items. This dynamic event is open to all TXCPA members – don’t miss your chance to make an impact!

Downright Austin, a Renaissance HotelPreviously the Sheraton Austin Hotel at the Capitol, 701 East 11th St., Austin, TX 78701, 512-478-1111

Rate: $249 single or double + 15% occupancy tax; Parking: Self-parking discounted to $20/day; Cutoff Date: January 12, 2025

Click here for more details.


TXCPA's 2025 CPE Programs

Mark your calendar now for these conferences in spring and summer 2025!

View the upcoming schedule in the Education area of our website.

Free CPE Webcasts for Members

TXCPA Passport – CPE on Your Schedule

Newly updated courses are now available. Click here to see the current list and subscribe.


Clarification for Today's CPA Article on Mitigating Medicare Mistakes

The article, "Mitigating Medicare Mistakes: The CPA's Role in Navigating IRMAA Challenges," in the November/December 2024 Today’s CPA issue discussed strategies CPAs could recommend to help smooth out or reduce Modified Adjusted Gross Income (MAGI). It suggested tax-efficient investments, such as municipal bonds or life insurance policies, which might not count toward MAGI.

However, clarification is necessary: MAGI starts with Adjusted Gross Income (AGI) but requires adding back certain nontaxable items to arrive at MAGI. While tax exempt interest (such as interest on some municipal bonds) is excluded from AGI, it must be added back in computing MAGI for purposes of IRMAA. This add-back is required for determining Part B and Part D Medicare premiums under Title 42, Sections 1395r(i)(4) and 1395w-113(a)(7)(C) of the U.S. Code.


Boost Your Well-Being: Printable Physical Wellness Checklist

Positive physical health habits can help decrease your stress, lower your risk of disease and increase your energy. Check out this printable physical wellness checklist from the National Institutes of Health for some tips on improving your physical health.

If you're facing challenges related to addiction, substance abuse or mental health, TXCPA Peer Assistance is available to provide support. Go to tx.cpa/resources/acan.


Secure Your Future with TXCPA Member Insurance

Protect what matters most – your family, your home and your career – with the TXCPA Member Insurance Program. Designed exclusively for CPAs, our trusted, association endorsed insurance provides exceptional value and peace of mind.

Why choose TXCPA Member Insurance?

  • Tailored Protection: Coverage crafted specifically for professionals and their families.
  • Exclusive Savings: Enjoy special member rates from top-rated insurance carriers.
  • Meaningful Impact: Your participation helps advance the mission of the Texas Society of CPAs.

Learn more today! Visit txcpainsure.org or call 800-428-0272 and explore your options.


Now Hiring? Turn to the TXCPA Career Center

Post your open positions for new and experienced accounting staff on the TXCPA Career Center! Members receive exclusive discounts and internship postings are always free. Highlight your organization’s culture, benefits and growth opportunities to attract top talent. Visit careers.tx.cpa to get started and find your next superstar!


Management Accountants - Stand Out With the CGMA® Designation

The Chartered Global Management Accountant (CGMA®) designation is a globally recognized professional credential for management accountants. It was established through a joint venture between the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).

The CGMA designation signifies expertise in management accounting and is highly regarded by employers for leadership, strategic thinking, and financial analysis skills. Key features include:

  • Global Recognition - It is one of the most recognized management accounting designations globally.
  • Focus on Strategy and Leadership - It emphasizes strategic financial management and leadership skills.
  • Ethics and Professionalism - CGMAs adhere to a code of ethics and demonstrate professionalism.

To learn more, visit the CGMA website.

 

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

 


 
  • Building the CPA Pipeline: A Faculty Perspective

    The CPA profession faces a shrinking pipeline, with fewer candidates entering the field even as demand grows. Faculty research highlights strategies to boost Exam success to better equip students, especially first-generation and future candidates under Texas’ new additional licensure pathway. Strengthening these supports is key to preparing the next generation of CPAs and securing the profession’s future.
    View Article
  • CPE: Joint Ventures and Equity Method Accounting

    Joint ventures enable organizations to combine resources under shared control to achieve strategic objectives, yet their accounting treatment has often posed challenges. To address this, FASB issued ASU 2023-05. This article examines the new guidance and its implications for equity method accounting.
    View Article
  • From Pipeline to Mobility: TXCPA Champions Two Major Wins for the Accounting Profession

    TXCPA achieved two landmark victories at the 89th Texas Legislature: an additional CPA licensure pathway for candidates and a modernized mobility law that strengthens practice standards in Texas. These wins not only expand opportunities for future CPAs but also set a precedent for other states, reinforcing TXCPA’s role as a leading advocate for the profession’s future.
    View Article
  • Finding Community and Purpose: Mariella Bosquez’s Journey in Accounting and TXCPA Houston

    Mariella Bosquez’s path to accounting was anything but traditional, but through TXCPA Houston she found both community and purpose. From psychology major to active student leader, her story shows how diverse backgrounds, mentorship and involvement can open doors and inspire the next generation of CPAs.
    View Article
  • Saved by the Byrd Rule: PCAOB Survives the One Big, Beautiful Bill

    Lawmakers looked to eliminate the Public Company Accounting Oversight Board (PCAOB) by folding its duties into the SEC, but the effort was blocked under Senate budget rules. Supporters argued the move would save money, while critics warned it would weaken audit oversight and investor protection. For now, PCAOB remains intact.
    View Article
  • TXCPA’s 2024-2025 Outstanding Chapter Awards Recognize Leadership, Service and Impact

    TXCPA’s Outstanding Chapter Awards celebrate small and medium-sized chapters that go above and beyond in leadership, service and community impact. This year, the San Angelo, East Texas and Rio Grande Valley chapters were recognized. Together, their achievements highlight the dedication and creativity shaping the profession.
    View Article
  • Your Old Plan vs. a Better Plan: How Accounting Firms Can Attract More CAS Clients

    Many firms still rely on outdated, exhausting methods like cold calls, referrals and random networking to win CAS clients - but those days are over. By embracing SEO, accounting firms can attract a steady stream of qualified, high-value clients who are already searching for their services, resulting in more revenue, stronger client relationships and the freedom to focus on delivering value.
    View Article
  • What’s Happening Around Texas - September-October 2025

    From networking luncheons and campus connections to hospital tours and a gathering at the Rusty Axe Brewing Co., members in Brazos Valley, Dallas, East Texas, and El Paso came together in a variety of ways. Professionals and students are finding community, inspiration, camaraderie, and fresh opportunities while chapters are setting bold visions for growth.
    View Article
  • Celebrating Our 2025-2026 TXCPA Faculty and Student Ambassadors!

    Through our Ambassador Program, TXCPA works with Texas educators and students each year to share resources and engage the next generation of CPAs, building connections on campuses across the state. TXCPA Ambassadors help us strengthen our presence and learn more about what we can do to help build and support the CPA pipeline.
    View Article
  • Stronger Together: Empowering the Next Generation

    The September/October issue of TXCPA’s magazine shines a spotlight on building the CPA pipeline and supporting future professionals. The issue is packed with ways to grow and stay connected. Most importantly, it’s a reminder that the future of our profession is built together - with your passion, time and voice.
    View Article
  • TXCPA Pipeline Resources at a Glance

    TXCPA’s Pipeline Resources offer something for everyone in the accounting pipeline — students, candidates, educators, and employers. Whether you’re exploring the field, teaching it or hiring talent, TXCPA connects you to the tools, people and opportunities that make an impact.
    View Article
  • The Statement of GreenHouse Gas Emissions

    Global standards for climate disclosure are rapidly evolving and companies are under pressure to measure and report indirect emissions across their value chains. A proposed Statement of GreenHouse Gas Emissions could give investors and stakeholders clearer, more comparable insights into corporate sustainability performance.
    View Article
  • 110 Years Strong: TXCPA Returns to Its Roots at the Tremont House

    TXCPA marked its 110th anniversary by returning to the historic Tremont House, celebrating a legacy of leadership while setting bold goals for the future. From legislative victories and a new tiered membership model to expanded student outreach and the launch of AcctoFi, the organization is driving transformation across advocacy, education and member engagement.
    View Article
  • Take Note

    In this edition of Take Note: Insurance Benefits Tailored for TXCPA Members; Enhancing Your Social Wellness; Stand Out as a Leader with the CGMA® Designation; TXCPA’s Career Center; Your Next Learning Opportunity
    View Article
  • Classifieds

    The classified ad section features listings for practice sales, firm buyers and specialized services. Whether you're expanding, selling or exploring niche opportunities, these ads connect you to valuable 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