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Dear Hannah:

As I meet with members to better understand how the Society can best help you face your business challenges, I hear one resounding message — it's all about talent: recruiting, developing and retaining talented staff is the key to business growth. But it's not easy. According to the recently-released AICPA report Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits firms are expected to hire as many or more accounting graduates in 2015, exceeding the record levels of the previous year.

The MSCPA is taking an active role in working to fuel the pipeline to give you the talent you need to grow your business. Yesterday, I had the pleasure of attending a meeting of the Academic and Career Development Committee, which has four goals for the coming year:

  1. Attract, inspire and engage high school and college students to enter the profession, and promote the CPA brand to assure a continuous pipeline.
  2. Increase the number of scholarships offered in 2016 and recognize the award winners at a special event in May.
  3. Enhance relations among accounting educators, practitioners and the Society and plan opportunities for faculty and practitioners to network and establish lasting relationships.
  4. Attract and engage diverse students into the profession.

I recognize these are ambitious goals, but they are what is needed to fuel the pipeline and the future. After attending the meeting and seeing the concrete steps that are being taken, I am confident they will be achieved. Watch this space for specifics on events and opportunities to get involved.

Enjoy the last official weekend of summer.

Amy A. Pitter
President & CEO


NETWORKING:

Young Professional Alliance Networking Event (9/10)
NAIFA Massachusetts' Young Advisor's Team, the MSCPA and MAIA Young Agents are hosting a football season kickoff networking event on September 10 at 5:30pm at Terry O’Reilly’s in Newton. Tickets are $30.



Women in Great Places: An Evening in Law and Finance (9/21)

Join the MSCPA and the Women's Bar Association for an evening of cross-industry networking at the TD Garden. Attendees will also hear from Deborah Grossman of TD Bank who will discuss why women and minority-owned businesses are the fastest-growing segments in the US. Economy.


MEMBERSHIP:

Call for Panelists - Emerging Leaders Summit
By the year 2020, there will be five generations in the workplace. What challenges and opportunities does this bring, what motivates employee engagement, what are the best ways to communicate across generations and how can each generation work together? We’ll cover these topics and more through a panel discussion at the Emerging Leaders Summit on November 13. We are looking for members from various generations to participate in the panel. Email Kara Kieran for more information.

Volunteer Opportunities
- Boys & Girls Club of Brockton - Board Member/Treasurer
- Newton Community Farm - Treasurer





NEWS & RESOURCES:

Changes Proposed for CPA Exam would Enhance Higher-Order Skills Testing
The AICPA has proposed changes to the Uniform CPA Examination that have been crafted to reflect the profession’s evolution and keep the exam in step with the profession.

CPA vs. Non-CPA Infographic
The decision to become a CPA isn’t always an easy one. This infographic demonstrates that the time and money you’ll invest into the CPA designation is well worth it.




CPE:

Advanced Business Law for CPAs (9/17)
Get a solid understanding of complex legal issues that come up every day and learn how to respond to them. Issue identification is often what separates top financial officers and managers from others.

Excel Macros: Every Day Useful Tools (9/25 - AM Session)
Save time - learn how to avoid Excel's time consuming menu change, search and click routines. Everyday Excel tasks may take only a few clicks, but the power of macros takes even less effort.


LEGISLATIVE UPDATE:

IRS Plans Changes in Reportable Transaction Penalties
The IRS has proposed regulations changing the amount of the penalties for failing to include information required to be disclosed about reportable transactions.

IRS Offshore Account Penalties Increase, Hunt Continues

The IRS keeps updating its list of foreign banks where offshore accounts trigger a 50% (rather than 27.5%) penalty in the IRS's long-running Offshore Voluntary Disclosure Program. Outside of the listed banks, the norm within the OVDP remains 27.5%.


DOR Updates

-- Working Draft TIR; Income Tax, Withholding and Reporting Rules for Certain Wagering Income
-- DD 15-2: Approval of Principal Reporting Corporation
-- TIR 15-6: Historic Rehabilitation Tax Credit – Transferring Awards, Multi-Phased Projects, and Recapture


Attorney General Certifies 22 Ballot Questions, Includes So-Called Millionaires Tax
The Attorney General's Office cleared 22 initiative petitions this week, including a proposal to amend the Massachusetts Constitution to allow for a graduated income tax. The plan would establish a marginal income tax rate, and increase of 4%, on income over $1 million.


 
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Massachusetts Society of Certified Public Accountants - 105 Chauncy St., 10th Fl - Boston, MA 02111 - http://www.mscpaonline.org

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