Bio

Native of Kentucky. Degrees: B.S. from Western Kentucky and MS and Ph.D. from University of Alabama. Thirty years of teaching accounting and over 110 refereed journal articles.

Expertise

Dr. Knight’s areas of interest and expertise include corporate financial reporting, professional ethics, and federal taxation. Her research focuses on strategies that help CPAs find new client financial and tax service areas or add value to existing service areas.

Education

  • Ph D, The University of Alabama (Accounting) — 1981
  • MA, The University of Alabama (Accounting) — 1978
  • BS, Western Kentucky University (Accounting) — 1974

Research & Teaching

Research Interests

  • Federal Taxation
  • Financial Planning

Teaching Interests

  • Financial Accounting
  • Professional Ethics

Honors

  • 2012: One of most productive researchers receiving doctorate in accounting during years 1971-2009., AAA Issues in Accounting Education, Nov. 2012, pp. 943-978.
    Ranked number 3 in Research Productivity for year of graduation (1981). Study shows that faculty in doctoral institutions, faculty out of their doctoral program 10 or fewer years, faculty in professorial roles, and male faculty are significantly more productive than faculty in non-doctoral institutions, faculty who have been out of their doctoral programs more than 10 years, faculty in administrative roles, and female faculty. Thus, despite spending most of my career in non-doctoral institutions, graduating more than 10 years ago, serving in administrative roles seven years of my career, and being a female, I am the 3rd most productive researcher among faculty who received their accounting doctoral degrees in 1981.
  • 2006: Outstanding Alumnus, Gordon Ford College of Business, Western Kentucky University
    Awarded for "professional and business accomplishments and contributions"
  • 2006: Outstanding Accounting Alumnus, Department of Accounting, Western Kentucky University
    Department of Accounting Alumni achievement award for "significant accomplishments as an accounting educator."
  • 2005: T.B. Rose Fellowship, Rose Family Endowment
    Awarded for working with two Calloway colleagues to develop and implement a cross- disciplinary case competition involving accounting and finance students. External accounting and finance professionals judged the case competition and intensely questioned the students about their findings and recommendations. The upsshot was a rich dialog between the students and professionals. Case subsequently submitted and accepted for publication.
  • 2004: Outstanding Graduate Teaching Award, Wake Forest University
    Selected by Master of Science in Accountancy Students in accounting.
  • 2003: Most Prolific Authors in Accounting, Advances in Accounting
    Intended to recognize most prolific authors of accounting literature: ranked 2nd for year of doctoral graduation, 1981, and tied for 7th overall in Hasselback, et.al. student published in Advances in Accounting. 2003
  • 2003: Delmer P. Hylton Professor of Accountancy, Wake Forest University
    Named in honor of the founder of the accounting program, Delmer P. Hylton. Awarded to recognize “a superior scholar and teacher of accountancy.”

Publications

  • Knight, L. & Knight, R. (Forthcoming 2013). Tax Considerations When Dividing Property in Divorce: Marital Estate Division Offers Challenges and Opportunities for Advisers. Journal of Accountancy, 215 (4), 64-69,8.
  • Knight, L. & Knight, R. (2013). The Benefits and Limitations of Prenuptial Agreements. CPA Journal, 83 (9), 62-66.
  • Knight, R. & Knight, L. (2013). The Benefits and Limitations of Prenuptial Agreements. CPA Journal, 83 (9), 62-66.
  • Knight, R. & Knight, L. (2013). he S Corporation Loss Limitation Rules Are Not All Too Clear!Taxes (CCH)45-54.
  • Knight, R. & Knight, L. (2013). Tax Considerations When Dividing Property in Divorce: Marital Estate Division Offers Challenges and Opportunities for Advisers. Journal of Accountancy, 215 (4), 64-69, 8.
  • Knight, L. & Knight, R. (2013). Taxpayers' Reliance on Professional Tax Advice: Examining the Tax Penalties Under IRC Section 6662. CPA Journal, 83 (2), 36-41.
  • Knight, R. & Knight, L. (2013). Taxpayers' Reliance on Professional Tax Advice: Examining the Tax Penalties Under IRC Section 6662. CPA Journal, 83 (2), 36-41.
  • Knight, L. & Knight, R. (2012). Foreign Currency Strategies Can Produce Unforeseen Tax Consequences. CPA Journal (August 2012), 42-47.
  • Knight, L. & Knight, R. (2012). Are the Rules Clear for the Profit Motive Requirement? Journal of Tax Practice and Procedure (CCH), 14 (2), 43-48.
  • Knight, L. & Knight, R. (2012). Before Being Too Creative With A Partnership, Look At The Anti-Abuse Rules. Taxes (CCH), 90 (4), 73-78, 90-91.
  • Knight, L. & Knight, R. A. (2011). Will a Tax Transaction Survive a Judicial Doctrines Attack?Taxes-The Tax Magazine (CCH), 89 (11), 29-42, 54..
  • Knight, L., Nix, W. E. & Knight, R. A. (2010). New Life for Charitable Lids. Journal of Accountancy , 210 (3), 50-56.
  • Knight, L., Nix, W. E. & Knight, R. A. (2008). Educational Expenditures: Strategies for Today and Tomorrow Practical Tax Strategies, forthcoming (co-authors: Wayne E. Nix and Ray A. Knight).Practical Tax Strategies260 - 271.
  • Knight, L. G. & Knight, R. A. (2005). Withdraw Without Penalty. Journal of Accountancy, 200 (2/August 2005), 48-55.
  • Knight, L. & Knight, R. A. (2003). Mutual Fund Redemptions. Journal of Accountancy, 195 (3), 55-61.
  • Knight, L. & Knight, R. A. (2002). Preserving the Family Legacy: 'Repeal' of Estate Tax in 2001 Tax Act Doesn't Eliminate Succession Planning for Family Businesses. Journal of Accountancy (3), 34-41.
  • Knight, R. A. & Knight, L. (2000). Counseling Clients on Credit. Journal of Accountancy61-72.
  • Knight, L. & Knight, R. A. (1999). Internal-Use Software and the Research Credit. Journal of Accountancy, 188 (6), 79-84.
  • Knight, L., Knight, R. A. & Schnee, E. (1999). Shifting the Burden of Proof. Journal of Accountancy, 188 (3), 89-96.
  • Knight, L. & Knight, R. A. (1998). Corporate Spin-Offs: A Well Planned Prescription for Ailing Companies. Journal of Accountancy, 185 (6), 47-54.
  • Knight, L. & Knight, R. A. (1997). What Happened to Limited Partnerships?Journal of Accountancy, 184 (1), 37-42.
  • Knight, L. & Knight, R. A. (1997). Dispute Resolution with the IRS and Taxpayer Bill of Rights 2. Akron Tax Journal, 13, 27-83.
  • Knight, L. & Knight, R. A. (1997). New Competent Authority Procedures. CPA Journal, 67 (3), 36-39.
  • Knight, L. & Knight, R. A. (1996). Getting Started in Electronic Tax Research. Journal of Accountancy, 182 (2), 43-50.
  • Knight, L. & Knight, R. A. (1996). Retroactive Disqualification of Pension or Profit-Sharing Plans. CPA Journal, 66 (7), 32-34.
  • Knight, L. & Knight, R. A. (1996). Tax Implications of Executive Reassignments and Terminations. CPA Journal, 66 (6), 34-39.
  • Knight, L. & Knight, R. A. (1996). New Rent-to-Own Contract Method Will Require Most Dealers to Request Change-of-Method Permission. Journal of Taxation, 84 (4), 225-229.
  • Knight, L. & Knight, R. A. (1996). Family Loans and Loan Guarantees.Journal of Accountancy, 180 (4), 17-20.
  • Knight, L. & Knight, R. A. (1995). Reporting Cash Transactions. Management Accounting, 77 (13), 41-45.
  • Knight, L. & Knight, R. A. (1995). Certain Leaseback Transactions Invite IRS Scrutiny. Journal of Accountancy, 179 (5), 51-54.
  • Knight, L. & Knight, R. A. (1995). An Application of the Analytic Hierarchy Process to Tax Policy Decisions: The Termination of Overfunded Pension Plan. American Journal of Tax Policy, 12 (1), 101-130.
  • Knight, L., Knight, R. A. & Roohani, S. (1995). Deductibility of Mortgage Points and Interest. Journal of Accountancy, 179 (2), 75-78.
  • Knight, L. & Knight, R. A. (1994). Minimize the Tax Consequences of Divorce. Journal of Accountancy, 178 (4), 94-100.
  • Knight, L. & Knight, R. A. (1994). Simplified Employee Pensions: The Best Plan for a Small Business. CPA Journal, 64 (6), 40-43.
  • Knight, L. & Knight, R. A. (1994). Treatment of Bad Debts Is Affected by Taxpayer's Status as a Large Bank or Thrift. Journal of Bank Taxation, 7 (4), 170-175.
  • Knight, L., Knight, R. A. & Lee, P. K. (1994). Abandoning a Partnership Interest: Is the Loss Ordinary or Capital?CPA Journal, 64 (3), 16-20.
  • Knight, L., Knight, R. A. & Sellers, B. (1994). Private Letter Rulings: When/How/If. Journal of Accountancy, 177 (3), 62-68.
  • Knight, L., Knight, R. A. & Nix, W. E. (1994). Qualifying as the Innocent Spouse. National Public Accountant, 39 (2), 19-21, 28-29.
  • Knight, L. & Knight, R. A. (1994). The S&L Crisis: A Learning Experience for Accountants. Journal of Bank Cost and Management Accounting, 7 (3), 60-69.
  • Knight, L. & Knight, R. A. (1993). Pay the IRS First, or Else!Management Accounting, 73 (6), 28-32.
  • Knight, L. & Knight, R. A. (1993). Allocation and Apportionment of Expenses for the Foreign Tax Credit. International Tax Journal, 19 (4), 30-46.
  • Knight, L. & Knight, R. A. (1993). Three Key Methods for Valuing Profitable Closely Held Companies. Journal of Corporate Accounting and Finance, 5 (1), 79-94.
  • Knight, L. & Knight, R. A. (1993). Income Tax Consequences of Real Estate Foreclosures. Journal of Accountancy, 175 (7), 44-50.
  • Knight, L. & Knight, R. A. (1993). Keystone Consolidated Industries: Supreme Court Holds Property Contributions to Pension Plans for Funding Obligations to Be Prohibited Transactions. Tax Executive, 45 (4), 300-303.
  • Knight, L. & Knight, R. A. (1993). Supreme Court Develops New Test for Home Office Deductions. Tax Adviser, 24 (7), 414-421.
  • Knight, L. & Knight, R. A. (1993). Foreign Currency Transactions: When Do You Recognize Gain or Loss?Journal of Corporate Accounting and Finance491-497.
  • Knight, L. & Knight, R. A. (1993). The Excludability of Damages Received for Personal Injury After the Supreme Court's Decision in Burk. Akron Tax Journal, 10, 89-110.
  • Knight, L. & Knight, R. A. (1993). REITs: An Attractive Investment Vehicle. CPA Journal, 63 (4), 34-42.
  • Knight, L. & Knight, R. A. (1993). Planning: The Key to Small Business Survival. Management Accounting, 74 (8), 33,34.
  • Knight, L. & Knight, R. A. (1993). The Tax Consequences to Individuals Who File Bankruptcy. CPA Journal, 63 (2), 36-40.
  • Knight, L., Knight, R. A. & Sutton, B. J. (1993). New Guidance Helps CPAs Minimize Tax Penalties. Journal of Accountancy, 175 (1), 46-51.
  • Knight, L. & Knight, R. A. (1992). Controlled Party Transactions: Intangible and Tangible Property Transfers - At Arm's Length. Journal of Corporate Accounting and Finance, 4 (2), 179-191.
  • Knight, L. & Knight, R. A. (1992). Criminal Tax Fraud: An Analytical Review. Missouri Law Review, 57 (1), 175-222.
  • Knight, L. & Knight, R. A. (1992). Deducting the Interest on Loans to Buy Policies. Best's Review, 93 (8), 80,81,92.
  • Knight, L. & Knight, R. A. (1992). Calculating Child Support Awards: New Opportunities for CPAs. Journal of Accountancy, 174 (5), 109-112.
  • Knight, L. & Knight, R. A. (1992). How to Avoid Income on Employee Reimbursements. Taxation for Accountants, 49 (5), 278-282.
  • Knight, L. & Knight, R. A. (1992). Preserving Family Net Worth. CPA Journal, 62 (9), 18-24.
  • Knight, L. & Knight, R. A. (1992). The Point of No Return for Tax Deductions of Acquisition Cost. Mergers & Acquisitions, 27 (2), 41-44.
  • Knight, L. & Knight, R. A. (1992). Deductibility of Losses in Leveraged S Corporations. CPA Journal, 60 (9), 28-32.
  • Knight, L. & Knight, R. A. (1992). Meeting the Nondiscrimination Pension Plan Rules. Arkansas Business and Economic Review17?26.
  • Knight, L. & Knight, R. A. (1992). Planning to Use the Rule of 78's Method to Allocate Interest. Journal of Bank Management and Cost Accounting, 5 (1), 49-59.
  • Knight, L. & Knight, R. A. (1992). Qualifying as a Tax-Exempt Social Club. Journal of Tax Exempt Organizations, 4 (2), 45-57.
  • Knight, L. & Knight, R. A. (1992). REITs Reemerge as Attractive Investment Vehicles. Real Estate Review, 22 (2), 42-48.
  • Knight, L. & Knight, R. A. (1992). The Liquidity Crisis: Pension and IRA Assets As a Solution. CPA Journal, 62 (6), 38-44.
  • Knight, L. & Knight, R. A. (1992). Qualifying as a Separate Line of Business for Nondiscrimination Pension Plan Rules. Tax Executive, 44 (2), 117-123.
  • Knight, L. & Knight, R. A. (1992). Tax Matters Partner Not Only One Who Can Challenge IRS. Taxation for Accountants, 47 (6), 342-347.
  • Knight, L. & Knight, R. A. (1992). Tax Planning for Pension Plan. Management Accounting, 73 (8), 47-51.
  • Knight, L. & Knight, R. A. (1992). How the IRS Reconstructs Income Without Records. Taxation for Accountants, 48 (1), 29-35.
  • Knight, L., Knight, R. A. & Winter, M. (1991). Computer Integrated Manufacturing. Australian Accountant, 61 (11), 38-44.
  • Knight, L., Knight, R. A. & Phebus, D. C. (1991). How to Deal with the Earnings Adjustment to the AMT. Journal of Corporate Accounting and Finance, 3 (2), 225-238.
  • Knight, L. & Knight, R. A. (1991). Utilizing Corporate Tax Attributes Following Ownership Changes. CPA Journal, 60 (12), 42-50.
  • Knight, L. & Knight, R. A. (1991). Non-Qualified Deferred Compensation Plans Backed by Rabbi Trusts are Gaining Popularity. Tax Executive, 43 (6), 410-413.
  • Knight, L. & Knight, R. A. (1991). Investment Funds Must Adhere to Complex Distribution Rules to Qualify as Regulated Investment Companies. Journal of Taxation of Investments, 9 (1), 40-48.
  • Knight, L., Phebus, D. C. & Phebus, D. C. (1991). Tax Treatment of Takeover Costs: Was the Merger Friendly or Hostile?Journal of Corporate Accounting and Finance, 3 (1), 57-64.
  • Knight, L., Knight, R. A. & Phebus, D. C. (1991). Meeting the Tax Court's Tests to Deduct Payments to Captive Insurers. Corporate Taxation, 4 (2), 42-47.
  • Knight, L. & Knight, R. A. (1991). Tax Harmony in the European Community Leaves Much to Be Desired. Tax Executive, 43 (4), 257-258.
  • Knight, L. & Knight, R. A. (1991). Real Estate Mortgage Investment Conduits: Mortgage Vehicles for the 1990s. Accounting Horizons, 5 (2), 55-63.
  • Knight, L. & Knight, R. A. (1991). When Is a Corporation a Personal Service Corporation?Corporate Taxation, 4 (1), 39-45.
  • Knight, L. & Knight, R. A. (1991). Three Ways to Break Up a Corporation to Meet Owners' Needs. Taxation for Lawyers, 19 (6), 346-352.
  • Knight, L. & Roohani, S. (1991). Plans Must Be Amended to Avoid Age Discrimination. Taxation for Accountants, 46 (2), 80-86.
  • Knight, L., Knight, R. A. & Donohoe, P. (1991). FIRREA and the Demise of the S&L Tax Shelter. Journal of Bank Management and Cost Accounting, 4 (2), 44-57.
  • Knight, L. & Knight, R. A. (1991). Substance Over Form: The Cornerstone of Our Tax System or a Lethal Weapon in the IRS's Arsenal?Akron Tax Journal, 8, 91-107.
  • Knight, L. & Knight, R. A. (1990). How to Avoid the Tax Preparer Penalties: A Checklist Approach. The Practical Accountant, 23 (11), 29-34.
  • Knight, L. & Knight, R. A. (1990). The Use of Boot in B-Type Reorganizations. Tax Executive, 42 (6), 351-58.
  • Knight, L. & Knight, R. A. (1990). Lobbying, Campaigning, and Section 501 (c)(3)--What Is Allowed?Journal of Taxation of Exempt Organizations, 2 (3), 17-22.
  • Knight, L. & Knight, R. A. (1990). Notice 89-99: The Good News and the Bad News Concerning Section 2036(c). Successful Estate Planning Ideas2051-59.
  • Knight, L. & Knight, R. A. (1990). Helping a Client Select the Best Value in Life Insurance. Journal of Financial Planning, 6 (9), 163-172.
  • Knight, L. & Knight, R. A. (1990). Tax Consequences of Divorce. CPA Journal, 60 (5), 54-60.
  • Knight, L. & Knight, R. A. (1990). Identifying Highly Compensated Employees is Necessary for Keeping a Plan Qualified. Taxation for Accountants, 44 (4), 224-227.
  • Knight, L. & Knight, R. A. (1989). Barriers to the Application of the Constructive Receipt Doctrine. Tax Executive, 41 (2), 199-215.
  • Knight, L. & Knight, R. A. (1989). Disregarding the Separate Corporate Entity of Captive InsuranceCompanies: A Violation of the Moline Properties Doctrine?Journal of Corporation Law, 14 (2), 399-417.
  • Knight, L., Knight, R. A. & Marshall, L. L. (1989). Using Experience to Avoid Accruing Service-Based Accounts Receivable. Journal of Taxation, 71 (5), 336-341.
  • Knight, L., Knight, R. A. & Nix, W. E. (1989). Tax Planning Strategies for SFAS 96. CPA Journal, 59 (10), 20-28.
  • Knight, L. & Knight, R. A. (1989). Disregard of the Corporate Entity and Nominee Corporations After Bollinger. University of Toledo Law Review, 21 (1), 203-232.
  • Knight, L., Knight, R. A. & Duncan, P. H. (1989). Have Recent Tax Acts Provided a Level Playing Field for Corporate Mergers and Acquisitions?Accounting Horizons, 3 (3), 28-37.
  • Knight, L. & Knight, R. A. (1989). Section 89: Qualification and Nondiscrimination Rules. CPA Journal, 59 (7), 21-Oct.
  • Knight, L. & Knight, R. A. (1989). Do the Foreign Tax Credit and the New Source of Income Rules Create the Potential for Double Taxation?International Tax and Business Lawyer, 7 (2), 249-274.
  • Knight, L. & Knight, R. A. (1989). Real Estate Reporting Requirements: Compliance Can Be Burdensome. Journal of Real Estate, Accounting, and Taxation, 4 (2), 41-48.
  • Knight, L., Knight, R. A. & McGrath, N. T. (1989). Double Jeopardy: the AMT and FAS 96. Journal of Accountancy, 167 (5), 40-51.
  • Knight, L. & Knight, R. A. (1989). New Ways to Manage Soaring Tuition Costs. Journal of Accountancy, 167 (3), 46-52.
  • Knight, L. & Knight, R. A. (1989). The Earned Income Exclusion for Foreign Residence. CPA Journal, 59 (2), 16-23.
  • Knight, L. & Knight, R. A. (1988). Have Incentive Stock Options Lost Their Value as a Management Compensation Tool?Tax Executive, 40 (2), 131-136.
  • Knight, L. & Knight, R. A. (1988). An Update on Tax Free Reorganizations. CPA Journal, 58 (2), 58-64.
  • Knight, L., Knight, R. A. & McGrath, N. T. (1988). Civil Tax Penalties: Taxpayer Awareness of the Provisions and the Process for Appeal. Memphis State University Law Review, 19 (1), 27-Jan.
  • Knight, L. & Knight, R. A. (1988). Deferred Payment Farm Contracts Can Delay Recognition of Income. Taxation for Lawyers, 17 (2), 98-102.
  • Knight, L. & Knight, R. A. (1988). Recent Developments Concerning the Completed Contract Method of Accounting. Tax Executive, 41 (1), 73-85.
  • Knight, L. & Knight, R. A. (1988). Tax Status of Hybrid Securities. CPA Journal, 58 (9), 44-50.
  • Knight, L. & Knight, R. A. (1988). The Deductibility of Expenses for Accrual Basis Taxpayers: Continued Controversy Under the All Events Test. Journal of Corporate Taxation, 15 (3), 245-270.
  • Knight, L. & Knight, R. A. (1988). The Deductibility of Interest Expense While Owning Tax-Exempt Securities. Missouri Law Review, 53 (4), 731-759.
  • Knight, L. & Knight, R. A. (1988). New Possibilities for Captive Insurance Subsidiaries. CPA Journal, 58 (5), 48-55.
  • Knight, L. & Knight, R. A. (1988). Securing a Deduction for Payments to Captive Insurance Companies: Crawford Shows the Way. Taxes: The Tax Magazine374-386.
  • Knight, L. & Knight, R. A. (1988). New Strategies for Income Shifting After the Tax Reform Act of 1986. Review of Taxation of Individuals, 12 (2), 116-128.
  • Knight, L. & Knight, R. A. (1988). The Most Controversial Aspect in the Taxation of Cooperatives: What is Patronage-Sourced Income?Taxes: The Tax Magazine, 66 (3), 176-184.
  • Knight, L. & Robertson, J. (1988). The Awarding of Attorney's Fees: The Impact of TRA '86 and Recent Judicial Developments. Taxes: The Tax Magazine, 66 (2), 123-133.
  • Knight, L. & Knight, R. A. (1987). Avoiding Tax Liability After Signing a Joint Return: Qualifying for Innocent Spouse Relief is Not an Easy Task. CPA Journal, 56 (11), 78-87.
  • Knight, L. & Knight, R. A. (1987). Unrelated Business Taxable Income: Can Tax Exempt Organizations Aggregate Income. Tax Adviser, 18 (10), 775-79.
  • Knight, L. & Knight, R. A. (1987). Merger Mania: Did the Tax Reform Act of 1986 Reduce the Tax Incentives for Corporate Takeovers, Mergers, and Acquisitions?Tax Executive, 40 (1), 79-86.
  • Knight, L. & Knight, R. A. (1987). Obtaining Deductions for Contributions of Qualified Conservation Property. Journal of Taxation of Investments, 4 (4), 336-46.
  • Knight, L. & Knight, R. A. (1987). Legal Kickback Payments: Are They Deductible as 'Ordinary and Necessary' Business Expenses?Tax Executive, 39 (3), 267-77.
  • Knight, L. & Knight, R. A. (1987). True Leases vs. Disguised Installment Sale/Purchases: Factors the Courts Use to Distinguish. Tax Adviser, 18 (3), 185-91.
  • Knight, L. & Knight, R. A. (1986). A New Approach to Judicial Review of Interpretative Regs. The Journal of Taxation, 65 (6), 326-31.
  • Knight, L. & Knight, R. A. (1986). A Temporary Lease in Conjunction with the Sale of a Personal Residence. CPA Journal, 57 (10), 82-86.
  • Knight, L. & Knight, R. A. (1986). Claiming the Home Office Deduction. Journal of Accountancy, 160 (6), 85-98.
  • Knight, L. & Knight, R. A. (1984). Leasing Pursuant to the Sale of a Personal Residence: A Prudent Means of Coping with a Depressed Housing Market?Tax Adviser, 15 (12), 746-51.
  • Knight, L. & Knight, R. A. (1984). Procedural and Administrative Changes: The Pitfalls of ERTA and TEFRA. Taxes: The Tax Magazine, 62 (7), 459-66.