content
10
“ One of the challenges with the NOCLAR interpretations is the auditor ’ s requirement to address and resolve noncompliance issues .” october
12
19 12
16 Navigating NOCLAR
The practical application and additional pressure on the auditor in the field are important considerations of how NOCLAR could affect your practice as a CPA .
3 It ’ s Material : Outside the Box
To survive and thrive in today ’ s dynamic environment , CPAs need to think beyond their comfort zones and embrace innovation and creativity to increase their value for their firms and clients . DENISE LEDUC FROEMMING , CPA , CAE , MBA
10 Taxes and Special Needs
It ’ s important that the profession be aware of tax implications related to the cost of caring for individuals with special needs and what expenses related to that care are tax deductible . REGINA M . LEVY , CPA
news & resources
8 Capitol Beat
12 Safe Harbor
For tax professionals who have had to review a client ’ s expenses for repair , acquisition or production of tangible property , the question of whether to capitalize or expense is one that continues to stump even the most experienced CPAs . NICHOLAS GALLETTA , CPA , AND CELIA LAU , CPA
19 Lease Accounting
Understanding the challenges of how to assess and account for lease modifications is crucial for companies to ensure compliance . GARY KRAUSZ , CPA / CFF
California
CPA
magazine . calcpa . org Volume 93 , No . 4 , October 2024
California Society of Certified Public Accountants
Associate Director , Communications Aldo Maragoni aldo . maragoni @ calcpa . org
Art Direction & Design Lynn LaRocca-Low lynnlarocca @ gmail . com
Office 500 Capitol Mall , Suite 2350 Sacramento , CA 95814 ( 800 ) 922-5272
www . calcpa . org
California CPA ( ISSN 1530-4035 ) is published monthly except for February and April by the California Society of Certified Public Accountants , 500 Capital Mall , Suite 2350 ; Sacramento , CA 95814 . Periodicals Postage Paid at Sacramento , CA . Members receive California CPA regularly . Nonmember subscription rate : $ 75 per year , or $ 8.50 per issue ; foreign rate : $ 110 per year . Remit U . S . funds only .
© 2024 California Society of Certified Public Accountants .
All correspondence pertaining to advertising or nonmember subscriptions should be addressed to the Advertising Department ; POSTMASTER : Send address changes to : California CPA ; Customer Services ; California Society of CPAs ; 1800 Gateway Drive , San Mateo , CA 94404 . Publication of an advertisement in California CPA does not constitute endorsement of the product or service by California CPA or the California Society of Certified Public Accountants . Items published in California CPA , unless otherwise specified , represent the views of the authors and individuals quoted .
2 CALIFORNIA CPA OCTOBER 2024 www . calcpa . org