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CEO Corner
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Dear Hannah,
As one tax season ends, another begins. After what seemed like a never-ending 2020 tax season, this year’s busy season officially opens today as the IRS starts to accept and process 2020 individual tax returns. I hope this year goes as smooth as possible and with fewer curveballs than last year. Please know we are here to help should you have any questions or concerns.
There have been a few rumblings about, and requests for, an extension to this year’s April 15 filing deadline. The IRS has maintained that it does not plan to extend, although with the looming possibility of additional federal relief that may change. The feedback from our members remains split, and we will certainly keep you updated through all our publications, including here and in our weekly legislative brief.
We have been contacted by several of you with concerns about the inclusion of forgiven Paycheck Protection Program (PPP) loans in gross income for pass-through entities that will directly affect many of our small businesses, restaurants, professional services firms and others. We have been working diligently behind the scenes and in the media advocating for the Massachusetts Legislature to pass legislation that would disallow that income from being taxed.
Legislators across the political spectrum in both the House and Senate have co-sponsored the legislation, with more joining in every day. We have made good progress, but we need your help to get this over the goal line.
We have drafted this email for you to send to your state representative and senator urging them to act on this legislation as soon as possible. You can find your legislators and their contact information here. After you contact your representative and senator, please email Zach Donah at zdonah@mscpaonline.org and Larry Liuzzo at lliuzzo@mscpaonline.org to let them know who you contacted so they can follow up with your legislators on your behalf.
In sad news,
Thomas Feeley Sr., CPA,
passed away on February 5. He started
Feeley & Driscoll, P.C.,
in 1974 and led the firm until he retired in 2016. Most recently, he was an executive consultant for
BDO USA, LLP.
A longtime member and friend of the Society, Tom was chairman of the MSCPA Board of Directors from 1985 to 1986 and was on the Board of Directors for the AICPA from 1990 to 1994.
I spoke with his colleague,
Michael Poirer, CPA, CGMA, who said, “Tom was one-of-a-kind. In addition to knowing the accounting industry inside and out, he was a true leader and mentor to all, and he simply loved to see people succeed. I will miss our conversations and Tom’s advice and friendship.”
Our thoughts are with the Feeley family and Tom’s friends and colleagues.
Amy Pitter
MSCPA President/CEO
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MSCPA Fitness Challenge
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Top Teams This Week
Individual Category:
Green Beans Bookkeeping - 128,570 average steps
2-10 Participants Category:
Gotta Run - 184,563 average steps
11-20 Participants Category:
MSCPA - 85,513 average steps
21-30 Participants Category:
The JOey's - 75,047 average steps
31-50 Participants Category:
O'Connor & Drew - 75,454 average steps
Share your progress and take photos of you and/or your team staying active by tagging @MASocietyofCPAs and using the hashtag
#MSCPAFitnesschallenge
to be included on our website, in Friday@Five and
SumNews! Please send your photos to Hannah Naranjo. We know many of you are working remotely, so this is a great opportunity to get creative (ex. send a photo of your number of steps on your tracking device or a unique display you see on an afternoon run).
If you have questions, visit mscpaonline.org/fcfaqs.
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ConnectPay Tip of the Week:
Get those steps in while you wait! Are you waiting on a client to call you back, or stuck on hold with the IRS? Do some lunges to make the time go by faster.
| Get Involved
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Upcoming Committee Meetings
- Accounting & Auditing (2/17)
- Management of an Accounting Practice (2/18)
- Nonprofit Accounting & Auditing (2/18)
- Regulated Investment Companies (RIC) (3/10)
- Human Resources (3/17)
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| MSCPA Educational Foundation 5K Fundraiser (3/20)
Support future CPAs while focusing on your fitness! Join our first-ever virtual 5K on Saturday, March 20 by donating $25 to the MSCPA's Educational Foundation which provides scholarships and CPA Exam vouchers to worthy accounting students in Massachusetts! By joining, not only are you are committed to benefiting your physical and mental health, but you are committing to helping lift the financial burden for future CPAs! To learn more about initiatives of The Foundation, visit mscpaonline.org/edfoundation. SIGN UP
Please note:
Participants have the ability to sign up as an individual as well as register additional participants from their firm/company as a group. Firms/companies with the most active participants will also be featured in our SumNews magazine. To learn how to set up a firm/company team, click here.
Please share your participation on social media by using the hashtag #MSCPAVirtual5K.
After signing up with the link above, you'll be provided direct links to share your fundraising efforts.
In order to track your time, please use a free app such as "Runkeeper" or "Map My Run" and submit your final time when finished.
If you are unable to participate on March 20, you can submit a time until April 3.
| Virtual CFO Series
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The CFO Series provides a convenient, one-stop way for senior level financial managers and executives, CFOs and those who aspire to be CFOs, to choose multiple days of CPE with a single decision. Each day consists of an expert leading discussions about four different topics. This series features high-quality presentations and an interactive, executive level colleague-to-colleague approach with case studies, group discussions and team exercises.
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Developing Credibility: Inside and Outside the Organization (3/22)
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| Earn respect for you and your team, learn why it’s all about action, discover how to communicate your message quickly and clearly, and examine 10 tips for success and 13 signs of failure. REGISTER
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Become More Effective (3/23)
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| Learn how to think more critically, understand how to network more effectively, gain insights into how to manage compensation and bonus plans more effectively and discuss some of MS Word’s advanced features. REGISTER
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Career Center
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Job Postings
- Staff Accountant - Candlewick Press
- Associate Wealth Advisor - Vigilant Capital Management, LLC
- Grant Accountant - Conservation Law Foundation
- Audit and Tax Professional - Bernard L. Donohue, III, CPA
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Per Diem Job Postings
- Seasonal Tax Preparer/Reviewer - Solar & Kilcoyne, PC
- Seasonal Tax Preparer - Scappini & Pina, P.C.
- Senior Tax Preparer- Susan E. Gallant, CPA, MST
- Seasonal Tax Accountant - Doug J. Murstein, CPA & Associates, Inc.
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| Member News
| LGA, LLP, Woburn, announced that
MARY-JOAN (MJ) PELLETIER POTVIN, CPA, CGMA, MSA,
joined as manager of client service innovation and learning and development. The firm also announced that:
- COURTNEY CHAGNON and
TOBIN GROSS
joined as professional support;
- DAVID LEVINE and
DEREK REILLY
joined as tax co-ops;
- MADALINA LOGHIN, CPA, CFP, joined as a tax manager;
- PETER MUWONGE, MBA, joined as a principal in the firm’s business advisory services practice to lead the business development efforts for its investment banking activities; and
- SUJAL PATEL
joined as an associate in the firm’s audit and assurance service line.
MEYERS BROTHERS KALICKA, P.C., Holyoke, announced that LISA WHITE, CPA, and
SUSAN STEBBINS, CPA,
were promoted to senior managers. The firm also announced that
KARA GRAVES, CPA,
was promoted to employee benefit plan niche leader and
JOSEPH LEMAY, CPA,
was promoted to manager.
TONNESON + CO, Wakefield, announced that MICHELLE HARDEN, CPA,
joined as a tax manager. The firm also announced that:
- JOSIE HOPKINS
joined as a client services associate;
- ANDREW MASTROCOLA and
BRITTNEY SUDANOWICZ
joined as tax interns;
- ALISHA MAYNARD
joined as a tax associate;
- CAITLIN MCCALL, EMILY NOLAN
and SHILA WAMBUA
joined as audit interns;
- ROSANNA SELVAGE joined as a senior client services accountant; and
- CAITLIN MCCALL, EMILY NOLAN
and
SHILA WAMBUA
joined as audit interns.
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Kind of Payer Error on W-3
Florida Homestead Exemption
Mechanics of PPP Loan Forgiveness (Now That We Know How It Is Treated)
How to Handle Moving Funds to Ex Spouse from IRA Distribution
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| I'm currently working...
|  |  |  | *See the results in next week’s Friday@Five!
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MENTAL HEALTH SURVEY FOR
SUMNEWS
ARTICLE
The MSCPA is currently working on an article for an upcoming issue of
SumNews
that focuses on mental health during the pandemic and are helping the author collect data. If you are interested, please fill out this anonymous brief survey to help us gather the data.
TAKE THE SURVEY
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| MSCPA RAFFLE: "WHEN I GROW UP I WANT TO BE....AN ACCOUNTANT" CHILDREN'S BOOK
Enter our raffle to receive a
FREE copy of Adrian Mayse Ph.D., CPA's first-ever published children's book, "When I Grow Up I Want to Be....an Accountant."
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| VOLUNTEER OPPORTUNITIES
CPA - Empowerment Through Integration
Advisor/Preparer - Massachusetts PTA
Treasurer - Friends of Spy Pond Park
CPA or Accountant - Safety for NonProfits, Inc. (S4NP)
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105 Chauncy Street, 10th Floor, Boston, MA 02111
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