Earlier this month the 102nd Michigan Legislature convened bringing in 74 freshman legislators to the new session, none of whom are CPAs. Last week, legislative committee assignments were announced. The MICPA analyzes committee updates that stand to have the greatest impact on the profession, including the Regulatory Reform and Tax Policy in the House of Representatives and Regulatory Reform and Finance in the Senate.
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Planning for retirement in the age of waning pensions and increasing life spans presents unique challenges for financial advisors and the clients that trust them to map their financial future. ProfessionFOCUS speaker Carlos Dias Jr., founder, president, Dias Wealth, shares his insights on the seven risks retirees should avoid.
The U.S. Senate Appropriations Committee released the fiscal year 2023 Omnibus Appropriations bill which includes $1.7 trillion allotted to various programs and defense funding. Despite some speculation that the bill would include tax extenders, none were present. There are, however, numerous items that are included which could impact CPAs and their clients. The MICPA has created a brief overview of the most relevant components, all of which are expected to pass as a part of the bill, in some form, by Friday, Dec. 23.
The holiday season is well underway, with celebrations and gift exchanges having already begun for many. Before you resort to stuffing cards with twenty-dollar bills or placing your orders for concert tickets in 2023, make sure the items you have in mind aren’t on this list of the top five last-minute gifts you should probably avoid.
The phrase ‘client experience’ is more than business trend buzz. According to TaxDome CEO Ilya Radzinsky creating a seamless client experience boost referrals and sets firms apart from their competition. Find out what five steps she says organizations can take to start building a better experience for the clients today.
For the first time since 2019, the MICPA will host its annual awards ceremony in person tomorrow at the Suburban Collection Showplace in Novi! Join us as we honor the best and brightest in the Michigan accounting profession and raise funds to support future accounting students through the Michigan Accounting Foundation scholarship program.
According to MICPA member, Plante Moran Partner Kris Ray, visibility is the key to building a more diverse profession. Find out how Kris helped build Plante Moran’s first staff resource group, PM Pride, growing its membership from just six people to more than 250 members over the span of decade.
The importance of building a strong professional network cannot be understated, especially in a profession as nuanced as accounting. You never know when you may need to call on an expert for insight on a niche topic or advice on applying freshly updated standards. Find out how the MICPA is uniquely positioned to help its members connect with other CPAs, especially for those who aren’t surrounded by other accountants at work, and how you can start building these relationships before the year is over!
The IRS treats unpaid payroll taxes very seriously. In fact, 72% of all tax revenue comes in the form of these payroll taxes held “in trust” by an employer on behalf of their employees” credited withholding for the IRS. Delinquent payroll taxes can snowball into an avalanche of accumulated IRS debt very quickly. Expert tax attorney, Venar Ayar, JD, LLM, founder of Ayar Law, shares how to best handle these potentially devastating tax situations, which could threaten to wipe out a client’s business.
Expanding the CPA pipeline is a top priority within the profession, and the MICPA is making moves by taking steps to bring today’s industry into the classroom. Find out how our partnership with the AICPA and other state societies is bringing CPAs and accounting college students to high schools all over Michigan this November. Plus, find out how you can help the State of Michigan implement the recently passed HB5190, which adds financial literacy to the state high school required curriculum.