Dear Hannah:
I had an opportunity this
week to attend and co-chair the Innovation Enterprise Controller Summit. It served as a great reminder that financial professionals in industry, some
of whom are our members (and some are not), would really benefit from MSCPA events – everything from networking and continuing education, to the
career center. We need to do more to reach out to this group, and to include them in our efforts: I'm committed to doing just that, and I would love
to hear from you on how we can do more. Contact me at apitter@mscpaonline.org or at 617.556.4000 to share
your thoughts.
I also would like to bring your
attention to our upcoming Fraud & Forensic
Accounting Conference on December 2. The Thanksgiving holiday is fast approaching, and so is the deadline to register for this wonderful
educational opportunity. Attendees will hear from experts on topics ranging from cybersecurity and whistleblowing, to identity theft and tax refund
fraud. To learn more about the conference, click here.
Have a great weekend!
Amy A. Pitter
President & CEO
NETWORKING & MEMBERSHIP:
Upcoming Committee Meetings
Federal Taxation (11/17)
State
Taxation (11/18)
Small Firm Advisory
(11/18)
Accounting & Auditing
(11/18)
Real Estate (11/19)
Nonprofit Accounting & Auditing (11/19)
South Shore Breakfast Forum (11/19)
Bill Cusato, senior director of business development at Bedford Cost Segregation will discuss the new IRS depreciation
rules and cost segregation.  Photos: 2015 MSCPA High School Accounting
Conference at Babson College
On Friday, November 6, approximately 60 high school students from 11 schools gathered at Babson College to attend the
MSCPA's "Is Accounting for Me?" high school accounting conference.
 New Volunteer Opportunities
BabblingBrook Family Learning Center - Auditor
Biodiversity for a Livable Climate -
Auditor
Speed Mentoring: Call for Mentors (1/13)
The MSCPA’s speed mentoring event on January 13 (at 4:00 p.m.) is designed to give members a time-efficient
networking opportunity while providing access to professionals for real-time advice and guidance. We are looking for members to volunteer as mentors.
Each mentor will chat with a group of four or five CPAs for approximately five minutes before moving to the next group. The event will end with a
networking reception. All levels are welcome to volunteer as mentors. Please contact Julia Bowker if you are interested.
NEWS &
RESOURCES:
5 Mistakes All Young Accountants Should Avoid (But Most Make)
If you know
the top mistakes that prevent CPAs from realizing their full potential, you can avoid them—and take your career further, faster. MSCPA members
reveal the five biggest professional faux pas they’ve encountered, and share how young CPAs can build a successful career.
Two Roads That Will Lead to a Firm of the Future
There are two roads to becoming a “Firm of the
Future” – adaption by choice and adaption by obligation. Earlier this year, Intuit announced it would host a contest to identify firms
taking the first road.
The Critical Digital Attributes of
Top-Performing Companies
Companies with a leadership team that champions digital initiatives and takes the lead in digital strategy are more likely to achieve rapid
revenue and profit growth. These organizations, according to a global PwC report, look beyond technology that solves or mitigates today’s
business issues, thinking instead about how it can position them for the future.
CPE:
Fraud & Forensic Accounting and Auditing Conference (12/2)
Recognizing fraudulent or deceptive
practices is not always easy, but this conference will sharpen your forensic skills with techniques to uncover fraudulent activities and help you to
see them in their many guises. At this conference, you will:
1. Go"beyond the checklist" to discover how you can fact-find and detect
fraudulent activities in your clients’ files or even your own;
2. Uncover the psychology
behind corporate scandals and how research can provide clues to finding real solutions to fraud;
3.
Review the state of cybersecurity threats, techniques and recent case studies;
4. Delve into the
dirty details of identity theft and tax refund fraud;
5. Learn best practices to implement as part
of your Fraud Prevention Program; and
6. Much more!
LEGISLATIVE UPDATE:
PTIN Renewal Underway
The IRS is accepting renewal application for Preparer Tax
Identification Number (PTIN) applications and renewals for 2016. Anyone who prepares or assists in preparing federal tax returns for compensation must
have a valid 2016 PTIN before preparing returns. The IRS has lowered the cost to obtain a PTIN this year from $63 to $50.
October Revenue Collections Exceed Expectations
The DOR announced that the October tax receipts totaled $1.662 billion, up $92 million above the monthly benchmark. The increase was driven
by better than expected income and sales and use collections. FY 2016 collections are now $126 million above the fiscal year benchmark.
Highway
Bill Would Revive Private Collection of Tax Debt
A provision to revive the use of private debt collectors by the IRS was included in the House-approved highway funding bill last week. The
controversial practice is likely to face much opposition as Senate and House negotiators meet to reconcile the differences between the two versions of
the bill.
MassTaxConnect Demo (12/3)
As of
November 30, the DOR’s WebFile for Business is being replaced by their new portal, MassTaxConnect. The DOR will be presenting a live demo of
the new software, and their senior department and project staff will answer your questions as well as the questions your clients are sure to have.
Don’t miss this important opportunity for MSCPA members.
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