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CEO Corner
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Dear Hannah,
The concern around the coronavirus is growing - especially after a diagnosed case in Massachusetts. Even though it's busy season, CPAs must think about how they will respond to concerns from employees, clients and customers. For some, it may mean expanding work from home options or hosting virtual meetings with clients or stakeholders rather than face-to-face interactions. In addition to preparing your own workplace, CPAs must also be advised on how to help clients prepare their businesses for a
possible pandemic.
The MSCPA is monitoring developments and has launched the Coronavirus Resource Center for CPAs, which provides information and resource links, to help keep our members and their firms, companies and clients safe. To visit the resource center, click here.
While we hope the coronavirus won't affect any of our members, hope is not an effective business strategy. We will continue to update the resource center as new information becomes available, so please check back often.
Lastly, it is with sadness that I inform you that Walter Goldstein of Edelstein & Company, LLP, and a past MSCPA board chairman, recently passed away. Together with Alan Edelstein, Walter started Edelstein & Company, LLP in 1968, and many of their contributions to the firm still exist today. Walter was a dear friend of the Society and a leader within the profession, and he will be greatly missed.
On behalf of the MSCPA, I wish you a healthy, safe and wonderful weekend.
Amy Pitter
MSCPA President/CEO
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Featured Networking Event
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Party on the Pike with hundreds of CPAs and accounting professionals from across the state at our networking event of the year! Join us on May 11 at WGBH in Brighton as we kick off a new membership year by welcoming our new Board of Directors, celebrating scholarship and award winners and recognizing new CPAs. Connect and network with peers in the profession as you enjoy cocktails and food on us! REGISTER
If you'd like to purchase 10 or more tickets, please reach out to Katlyn Ribeiro for a discounted rate.
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MSCPA Fitness Challenge
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We're already one month into this year's Fitness Challenge! See how close your team is to the IRS's office on the map on the ChallengeRunner website by selecting the three dots on the Leaderboard and selecting "Map," or in the ChallengeRunner app by clicking on the Leaderboard and selecting "Map."
Top Teams This Week
Individual Category:
CPYAY - 698,450 average steps
2-10 Participants Category:
KLR Fit Fam - 430,428 average steps
11-20 Participants Category:
Deloitte - 330,538 average steps
21-30 Participants Category:
Powers & Sullivan, LLC - 256,943 average steps
31-50 Participants Category:
O'Connor & Drew, P.C. - 264,045 average steps
We love seeing you in action! Please keep sharing photos of you and your team by tagging @MASocietyofCPAs and using the hashtag
#MSCPAFitnesschallenge! If you haven't already, please send your team photo to Hannah Naranjo to be included on our website, on social media, in Friday@Five and in
SumNews! To view photos of your competition, click here. If you have questions, click here. Thanks to Integrated Partners for sponsoring!
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CPE
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Artificial Intelligence for Accountants (3/10)
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Get an overview of artificial intelligence (AI) and how it can help accountants boost their revenue, relevance and value, discuss AI case studies, leading AI categories, key AI resources and communities online, AI starter strategies for accountants and more. REGISTER
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SECURE Act and Other 2019 Tax Legislation (3/10)
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Examine the key issues of the new SECURE Act, updates to the Extenders Act and Disaster Relief Act and changes to the Affordable Care Act, discuss disaster relief provisions such as pension plan distributions, relaxed limitations on casualty losses, employee retention credit and more. REGISTER
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FASB's New Lease Accounting Standard (3/12)
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Dive into the new standard on leases and address what you need to know now, learn the impact the new standard will have on large entities, how it will affect the financial statements of small and mid-size entities and more. REGISTER
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Legislative News
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Transportation Bill Update
This week, the House of Representatives debated the transportation bill and the corresponding transportation bond bill. The House adopted just 10 of the 84 amendments with the rest being rejected or withdrawn. On Thursday, the House overwhelmingly approved the $18 billion bond bill that authorizes funding for transportation projects across Massachusetts over 10 years. Included in the bill is funding dedicated to highway improvements, MBTA repairs and an increase in the Chapter 90 reimbursements, which go to municipalities to assist in road repairs and reconstruction.
As we wrote last week, the transportation bill is projected to raise anywhere between $522 million and $612 million in additional revenue and establishes a five-cent increase to the gas tax, increases fees on ride-hailing services such as Uber and Lyft, increases the corporate minimum tax on corporations with more than $1 million in sales. The bill also forms a commission to study the feasibility of congestion pricing and tolls along some of the busiest thoroughfares in the Greater Boston area.
We are pleased that the transportation crisis is being addressed, but we remain concerned that imposing a tiered corporate minimum will have negative impacts on the growth of the business. The tiered corporate minimum structure will particularly disadvantage the small business community, companies with small profit margins and start-ups that are not yet profitable. Unfortunately, an amendment to raise the totals sales threshold to $2.5 million was withdrawn during Wednesday's debate.
As transportation talks head toward the Senate, we continue to engage in discussions with legislators to voice our concerns and remain vigilant of any proposals that could impact the accounting profession. To learn more and to discuss this with our government affairs team, please reach out to Larry Liuzzo.
| Member News
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Robbie the Robot
AAFCPAs
Meet Robbie the Robot of the AAFCPAs! Read our interview with Robbie from our September issue of
SumNews
to learn how he came to be at AAFCPAs, how he interacts with staff and brings value to clients, how the firm sees technology changing the accounting profession and more. MEET ROBBIE
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LGA, Woburn, announced that the firm will be celebrating its 40th
anniversary in 2020.
SHARE YOUR NEWS
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Bookkeeper Recommendation
Four Member LLC
Coronavirus Resources and Information for Members
Message from the Massachusetts Society Accounting and Auditing Committee
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The MSCPA's Vendor Directory lists service providers and vendors who tailor their products and services to the changing needs of CPAs and accounting professionals. It also includes MSCPA Corporate Partners which are companies that have supported the Society and worked closely with its members over the past several years. Submit an application to join the MSCPA's Vendor Directory and reach over 11,000 CPAs and accounting professionals. To view the Directory, click here.
JOIN
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Member of Concord Consortium's Finance Committee - Concord Consortium
Volunteer Board Member - Brockton Area Multi-Services, Incorporated (BAMSI)
Treasurer or Bookkeeper - Boston Chapter of Massachusetts AEYC
Venture Fund Volunteer - United Way of Massachusetts Bay and Merrimack Valley
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SEC Analyst - American Outdoor Brands Corporation
Senior Director- eCratchit, Inc.
Controller - Massa Products Corporation
Director of Accounts Payable and Payroll - Salem State University
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Audit/Tax - Sandler & Company PC
Senior Tax Manager - Nune Khachatrian, CPA, P.C.
Tax Accountant - Abbott and Company LLC
Tax Preparer - Coval Anderson Coval LLC
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105 Chauncy Street, 10th Floor, Boston, MA 02111
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