May-June 2026

In this issue:

May 08, 2026

Celebrating Progress. Shaping What’s Next.

Jodi Ann Ray, CAE

CEO’s Message

By TXCPA President and CEO Jodi Ann Ray, CAE

As we close the 2025-2026 membership year, this issue of Today’s CPA offers an opportunity to pause, reflect and celebrate what we’ve accomplished together – while also turning our attention to the future of the profession and our organization.

Our cover story, “Building What’s Next: TXCPA’s 2025-26 Year in Review,” captures the scope of that progress. From advocacy wins and expanded professional learning opportunities to meaningful investments in technology, volunteer leadership and member engagement, this year’s accomplishments reflect the power of a connected member community. These successes belong to you – those who gave your time, talents and energy, and helped move the profession forward.

You’ll also find important insights across this issue that underscore the evolving role of CPAs. Our accounting and auditing article explores the California Climate Accountability Package and its broader implications, while our Governmental Affairs update keeps you informed on issues shaping the regulatory environment here in Texas and across the country. Feature articles examine positioning strategies for CAS firms and option-based contracts and foreign currency transactions, all timely content designed to support you in a changing marketplace.

We’re equally proud to highlight the profession’s impact beyond the balance sheet. In “Spotlight on the Accounting Profession,” the Justice for Fraud Victims Project showcases how a Texas university, a CPA professor and an accounting firm are expanding an important initiative to serve the public interest.

As we celebrate the progress of 2025-2026, we are already focused on what comes next. The work ahead will continue to broaden opportunities, embrace innovation and advocate for the profession. And it will all continue to be fueled by the engagement of our members, volunteers and leaders. I encourage you to attend the Annual Meeting of Members on June 24-25 in San Antonio, participate in committees, add your voice to our advocacy efforts, and connect with your peers across Texas.

Together, let’s honor what we’ve achieved and commit to shaping an even stronger future for the profession in 2026-2027.

Thank you for your membership!

How can we help?

I’d love to hear your feedback and answer your questions. Drop me a note at jray@tx.cpa or connect with me on LinkedIn at linkedin.com/in/jodiannlafreniereray/.

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:

8amCPACharge

Accounting Biz Brokers

Accounting Practice Sales

Goodman Financial

Paychex

TXCPA Member Insurance

July-August 2026

In This Issue

women in leadership

Grounded in Faith, Guided by Purpose: The Journey of Angela Ragan

TXCPA’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.
View Article
CPE: Cryptocurrency Tax Rules and Challenges Explained

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.
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Tax Technology
Students

What’s Happening Around Texas - July-August 2026

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.
View Article
Texas Sales Tax Audits: Why Recordkeeping Determines Who Wins … and Who Pays 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.
View Article

Texas Sales Tax
volunteer advocacy

Celebrating a New TXCPA Year

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.
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What Private Equity and Family Offices Look for in Acquisition Targets

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.
View Article

succession planning
risk management

Beyond the 5% Rule: Transforming Audit Materiality with Blockchain and Explainable AI

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.
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TXCPA Advocacy – A Preview of 2027

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.
View Article

volunteer advocacy
Texas Sales Tax

Take Note

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
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Classifieds

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.
View Article

succession planning