PCAOB to shake up inspections in 2021

In its 2021 inspections of audit firms, the Public Company Accounting Oversight Board will be paying particular attention to the impact of COVID-19, according to members of the board.

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Protecting Your CPA License

For all licensed Michigan CPAs, the Michigan Specific Ethics 2019-21 Edition course is designed, first and foremost, to protect your license. Steer clear of any violations, get clarification on continuing education requirements, and use the opportunity to ask experts your questions about licensure and compliance as you take a deep dive into Michigan’s accountancy law and administrative rules.

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holiday table

2020 Gift Guide for the CPAs in Your Life – Including You!

The holiday season is well underway, but there is still time to do some last-minute gift buying for the accountant(s) in your life! From gag gifts to practical picks, we scoured the web for the perfect gifts any CPA would be thrilled to receive (or buy for themselves)!

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2021 Tech Outlook: Popular Now, Popular Next and What to Avoid Along the Way

The pandemic pushed the pedal to the floor on tech adoption in 2020, launching many accounting firms down a technological runway from which there is no turning back. The MICPA takes a look at emerging trends, predictions and precautions for the year ahead.

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AICPA Demands Swift Action on PPP Deductibility

In a recent letter to the U.S. Legislature, the AICPA calls for swift action in defining the rules of deductibility regarding qualified business expenses forgiven under Paycheck Protection Program (PPP) loans. The letter specifically asks for clarification on Congress’ intent for the expenses under the Coronavirus Aid, Relief and Economic Security (CARES) Act which was potentially contradicted by IRS Notice 2020-32 which states no deduction is allowed therefore creating an additional tax burden for struggling businesses amid the pandemic.

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IRS National Tax Security Awareness Week

WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry today marked the second day of National Tax Security Awareness Week by announcing an improved feature that will be available on all 2021 online tax preparation products.

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PPP Forgiveness: Apply Now Or Wait?

Application for Paycheck Protection Program loan is not yet available with every lender, but many businesses are already gearing to apply. In a recent article published by Forbes, MICPA board member and Chief Growth Officer at Sequoia Financial Group Leon LaBrecque, JD, CPA, CFP, CFA, discusses whether businesses should jump to apply at the first opportunity or wait it out.

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An Evolving Conversation About Mental Health Within the Profession

What was just beginning to see the light of day in the early weeks of 2020, mental health awareness received a significant frontward push amid remote work transitions and stay-at-home orders. From stigma to priority, the subject of mental health within the accounting profession is undergoing something of a global renaissance

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Your Guide to Supporting Local Business

And beyond. As 2021 swiftly approaches, Michigan is already one week into its three-week pause with renewed social distancing and partial shutdowns. While public safety is the utmost concern, Main Street expects significant impacts from fewer shoppers. But is shopping the only way to support small businesses? Find out what local business owners can do to not only drive sales this holiday season, but also support one another through the coming months

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Preparing CPAs to Discuss the National Debt

As the need for federal aid persists, now is the perfect time to prepare yourself for the inevitable conversation surrounding national debt. Michael Doorley, founder of the U.S. Debt Forum and Advisor at Fordham University, explains how to prepare for these conversations by understanding the theories surrounding national debt and why the conversation can no longer be delayed.

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