Today's CPA Letter Daily
Plan for your clients to get both PPP loans and the ERC
Jan 14, 2021
New legislation from the Consolidated Appropriations Act, 2021 creates a chance for some of your clients to take advantage of both Paycheck Protection Program (PPP) loans and the Employee Retention Credit (ERC). Several changes specific to the ERC can provide an opportunity for additional relief for your clients. The significant...
Taxpayers are unaware of remote worker state tax liabilities
Jan 5, 2021
During the COVID-19 pandemic, remote work has become common for many companies. What once was a relatively small percentage of remote workers has drastically increased. A recent survey found that many new remote workers are unaware of the potential state tax implications of working in a state or states different...
2021 busy season due dates can’t come soon enough
Dec 21, 2020
“There is no terror in the bang, only in the anticipation of it.”– Alfred Hitchcock In a good year, CPAs fret over due dates. I’m a glass half-full type of guy, but there aren’t too many measures that could be used to call 2020 a good year. (I digress for...
Unwavering in disruption: Reflections on an extraordinary year
Dec 18, 2020
In this interview, Barry Melancon, CPA, CGMA, President and CEO of the American Institute of CPAs (AICPA) and CEO of the Association of International Certified Professional Accountants (the Association), reflects on an extraordinary year and the steps we must take to prepare for 2021. You have described 2020 as a...
5 free resources to help market your services
Dec 17, 2020
Your to-do list likely includes items such as scheduling next year’s engagements, sending client information requests, preparing for year-end client accounting services processes, gathering and reviewing documents needed for early 2021 and contacting clients to plan for the year ahead. Taking time to market your services to prospects and clients...
Four steps to get started with data analytics
Dec 16, 2020
You know data analytics is changing the way accounting and finance professionals work. If you don’t know how to get started on your data analytics journey, let us help. We spoke to two experts during a recent LinkedIn Live lunchtime event called Hear from your peers: Building your skills and...
Business funding: A key new advisory category for your firm
Dec 15, 2020
CPAs are meeting the moment when it comes to small business relief. This is a new advisory service for the profession, one that will last through 2021 and 2022, in terms of lingering pandemic impacts. Beyond that, I firmly believe funding options will continue to be a valuable category for...
Do THIS — Not THAT in preparation for the upcoming tax season
Dec 14, 2020
Ready or not, tax season 2021 is rapidly approaching. And while we all hope that it will be better than tax season 2020, as John Wooden famously said, “Failing to prepare is preparing to fail.” So, why not hope for the best but prepare for the … unexpected? In thinking...
Young CPAs learn to adapt to lead a changing profession
Dec 11, 2020
The accounting profession has undergone major changes in recent years. New technologies are redefining client expectations and therefore how the profession works. Now, with the pandemic, the need to adapt has accelerated. The 2020 AICPA Leadership Academy gave 29 young CPAs from firms, businesses and academia across the nation the...
To avoid tax surprises, update your W-4
Dec 9, 2020
Paying taxes is probably low on the list of things that give Americans a warm-and-fuzzy feeling. But getting hit with a surprise tax bill when filing? That makes 34% of Americans feel concerned, 33% frustrated, 32% disappointed and 28% angry, according to a recent AICPA survey conducted by the Harris...
Anthony Pugliese and Lawson Carmichael, chairs of the AICPA’s Future of Learning Task Force, explore the state of education for CPAs, argue the case for change and encourage key leaders to provide input on this topic critical to the future of the profession.More on AICPA TV