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CEO Corner
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Dear Hannah,
We've been hearing from members who have questions about the new Paid Family and Medical Leave law. For those who aren't aware, in 2018, Massachusetts signed into law a statute that provides paid family and medical leave (PFML) benefits to workers. This program provides temporary income replacement to eligible workers who are welcoming a new child into their family, are struck by a serious illness or injury, need to take care of an ill or ailing relative and for certain military considerations.
Employers and employees must begin making contributions in 2019, with benefits becoming available to employees in 2021. Draft regulations were published late last month, and will be available for public comment on March 29. For more information about the new law, click here.
There are certain requirements employers and employees must meet to determine their eligibility for the program, which is raising questions among both business owners and individuals. This new law will significantly impact your business, and for members in public accounting, your clients will come to you first with their questions. Understanding PFML will not only enrich discussions with your clients, but it will also further establish your role as their trusted business advisor.
The MSCPA reached out to the MA Secretary of Labor and Workforce Development Rosalin Acosta to help our members navigate the new law. We are collecting your PFML questions and will submit them to Secretary Acosta to answer. Please submit your questions(s) here before Monday, February 18. Secretary Acosta's responses will be compiled into a Q&A that will be emailed to members in March and posted on the MSCPA's website. We hope this will help you understand the law and its impact on your clients and business.
Have a great weekend!
Amy Pitter
MSCPA President/CEO
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Get Involved
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Join the MSCPA Find a CPA Directory
Join the MSCPA's Find a CPA Directory, the place where people go to find a CPA in their area based on their unique needs. The MSCPA promotes the Directory to taxpayers throughout busy season via paid advertisements. Already a member of the Directory? Click here to renew your listing. JOIN
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Upcoming Nonprofit Roundtables (3/12)
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Upcoming Committee Meetings
- Governmental Accounting & Auditing (2/15)
- Litigation Support & Business Valuation (2/26)
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| Legislative Updates
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IRS Holds Off on Transcript Faxing Changes
The IRS will extend its transcript faxing service beyond the planned February 4 end date. The IRS is reviewing options for a new timeframe and the agency has received extensive push back from the profession, including the MSCPA. To read the letter that the MSCPA's Taxation Committee sent to the Commissioner urging the agency to reconsider the new transcript proposal, click here.
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Governor Files Supplemental Budget, Includes Foreign Income Provisions
Governor Charlie Baker filed a supplemental budget bill this week, which includes a provision to follow the Federal eight-year election and establishes a 60% deduction for foreign deemed repatriated earnings. The MSCPA has been working with the Legislature and Administration to secure these provisions since the Department of Revenue (DOR) released a working draft TIR, which establishes the departments view that the income is taxable in Massachusetts. LEARN MORE
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| Networking Event
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| On Wednesday, February 6, over 30 members gathered in Springfield to watch the Thunderbirds play the Hershey Bears! A pre-game networking event was held at Red Rose Pizzeria. VIEW PHOTOS (download password: tb)
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CPE
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Blockchain Technology - What Every CPA Should Know (2/12)
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Get up-to-speed on this revolutionary technology. You will learn about the concepts, nomenclature, technology and potential applications related to Blockchain. This session will help prepare you to participate in conversations about Blockchain with your colleagues, peers and others. REGISTER
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Communicating Financial Information to Non-Accountants (2/13)
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| Do you ever get blank looks when you present your company's financial statements? Does your board nod knowingly, during your presentation, but never seem to have any meaningful questions? Learn how to effectively communicate to anyone so they understand your message, and how you can motivate them to act now. REGISTER
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Surgent's IRS Tax Examinations and Hot Issues (EXI4) (2/14)
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| Due to IRS issue focused examinations, CPAs need to understand what types of returns are selected for examination and ways to help clients survive an IRS audit with little or no change. As a result of issue focused examinations, CPAs must understand the high audit risk area issues and what the IRS is focusing on when a return is examined. REGISTER
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Ethics and Opportunities of Voice-Enabled Digital Assistants (2/15)
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| Learn key ethical considerations and practical business opportunities for practitioners related to voice-enabled digital assistants. These technologies include Google Assistant, Amazon Alexa, Apple Siri, Microsoft Cortana, Samsung Bixby and others. The rapid rise of these electronic gadgets and services (and the products that can be used with them) are upending how people interact with computers and access artificial intelligence. REGISTER
| Featured Member Benefits
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The Boston Bruins (Now - 3/27)
Discounted tickets are available for upcoming Bruins games in February and March! To view and purchase tickets,
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Disney on Ice Presents Mickey's Search Party (2/15 - 2/24)
See your friends from Peter Pan, Frozen, The Little Mermaid, Coco, Beauty and the Beast, Moana and more as they help Mickey in his quest. To purchase discounted tickets, click here and enter promo code
19DOI240.
To order over the phone, please contact Tina Anderson with the TD Garden at 617.624.1810 or tanderson@bostonbruins.com.
GET TICKETS
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Employer Toolkit
The Massachusetts Employer Health Coalition has created a toolkit for you to brand and share with your team. These resources are available for you to help spread awareness on healthcare savings, specifically patient overuse of ER services and to encourage employees to consider all potential options when seeking care. LEARN MORE
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Flat Rate Discounts on UPS Shipping
Members now have access to new-and-improved flat rate pricing with savings of 45% on domestic next day/deferred, 25% on ground commercial/residential and up to 50% on additional services. In addition, members can take advantage of the UPS Smart Pickup® service for free. LEARN MORE
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Member News
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ADELSON & COMPANY PC,
Pittsfield, announced that
ALLISON BEDARD, CPA was named a shareholder and director and ZACHARY ZIEMBA, CPA was named associate manager of audit services.
JOHNSON O'CONNOR,
Wakefield, announced that
ALEXANDER APARO, CPA
rejoined the firm as a senior accountant.
MARCUM LLP,
Boston, announced that
MARK CUMMINGS, CPA joined as an assurance services partner. The firm also announced that LINDSAY TIMCKE, MBA
joined as a principal in the firm's Advisory and Consulting practice and as a member of the firm's Cybersecurity and IT Risk & Assurance Services group.
SHARE YOUR NEWS
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| MSCPA Fitness Challenge
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Top Teams This Week
Sole Proprietor/individual Category: Christopher Pulick - 105,296 average steps
2-10 Participants Category:
KLR Fit Fam - 63,170 average steps
11-50 Partipants Category: O'Connor & Drew, P.C. - 42,573 average steps
Don't forget to take photos of your team or your walking routine and share them with us using #MSCPAfitnesschallenge! If you haven't already, please send your team photo to Hannah Naranjo at hnaranjo@mscpaonline.org.
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Horrifying Massachusetts DOR Audit Experience
199A Footnote
Smaller Returns Affecting Car Sales?
Massachusetts DOR
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With tax season in full swing, we are interested in hearing what IRS scams some of you may be hearing from clients. Please contact Hannah Naranjo with any examples of tax scams you hear throughout busy season.
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FEBRUARY MONEY MANAGEMENT ARTICLES
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NOMINATE A 2019 MARKETER OF THE YEAR
For the sixth year,
INSIDE Public Accounting
has partnered with the Association for Accounting Marketing to sponsor the 2019 Marketer of the Year Award.
Nominations are due on Monday, February 25.
To be eligible, nominees must have held a senior-level marketing position in an accounting firm for at least three years, although not necessarily at the same firm.
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Board of Directors and/or Nonprofit Accountant - International Social Work Solutions, Inc.
Board Member - Ibis Reproductive Health
Help with Tax Filings - New England Sci-Tech, Inc.
Board Member - Bridges Together, Inc.
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Senior Auditor - Confidential
Tax Senior - Confidential
Senior Auditor, Investment - John Hancock
Assurance - Audit Staff - EY
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Tax Accountant - Medaglia & Co., Inc.
CPAs - NorthGate Advisors Ltd
Tax Accountant - Michael J. Raymond CPA
Deputy Director - Mass Cultural Council
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©2018 mscpaonline.org | Massachusetts Society of CPAs
105 Chauncy Street, 10th Floor, Boston, MA 02111
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