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Dear Elizabeth,

I was fortunate enough to attend the AICPA’s Annual Council Meeting earlier this week. As always, the AICPA put on a first-rate event, and holding it in Boston this year made it especially great. In between showcasing our fair city, networking with colleagues throughout the country, having perfect weather and eating all of the local delicacies, I actually learned a lot, too.

If I had to summarize the theme of the meeting in a phrase, it would be this: change is coming. Whether the presenters were speaking about the peer review program and the requirements going forward; continuing professional education and the future of learning; the criteria for obtaining a CGMA designation; or the value proposition for state societies, there was a consistent underlying message: the way we do things must adapt to the rapidly changing world in which we live. Failure to adapt really means failure to thrive. Jared Weiner, a futurist, made the case for why this is so in our multidimensional, no boundaries and meta-space economy. Luke Williams, Professor of Innovation at NYU’s Stern School of Business, made the case for why disruptive thinking is necessary to stay ahead of one’s competitors. “Nimbleocity” and “templosion” were introduced to my lexicon.

I am sharing this with you to encourage you to use these last few months of 2014 to think about things differently. Challenge your long-held assumptions about how your business and workforce are organized; reconsider your value proposition for clients and how you articulate it; and reevaluate your organization’s goals and tactics. In short, challenge your status quo. I promise to do the same at the MSCPA.  

Have a forward-thinking weekend!

Eileen P. McAnneny, Esq.
President and CEO

LEGISLATIVE UPDATE:

IRS Updates
- IRS Announces 2015 Pension Plan Limitations
- Budget Cuts Place Improvements to Taxpayer Advocate Service on Hold

DOR Update 
- Annual Update of Real Estate Tax Credit for Certain Persons Age 65 and Older

Retirement Plan Deferral Limit Increases in 2015
The IRS announced cost of living adjustments affecting dollar limitations for retirement plans, as well as other retirement-related items for tax year 2015.

Coakley, Baker Clash at Debate
During a feisty debate Tuesday night, the Democratic nominee said, "We're exploring ways to do a more graduated income tax," but Coakley later took back her comments. Baker, the Republican nominee, cited past ballot initiatives in which voters rejected the constitutional change as reasons for opposing the change.

New IRS Appeals Procedures Complicate Tax Dispute Resolution
Written by MSCPA member Morris N. Robinson, LLM, CPA and Attorney Patricia Weisgerber, LLM, this article describes and evaluates the new IRS Appeals Office policy for handling IRS audit appeals.

CPE:

Registration Now Open - Emerging Leaders Conference (12/5)
Join the MSCPA's first-ever Emerging Leaders Conference! This interactive and high-energy conference promises to teach you the skills necessary to take your career to the next level. Learn from nationally-recognized speakers and a panel of your peers, while building connections with your colleagues. Young professionals - This is the one conference you don't want to miss!

It's Time to EXCEL

Take Excel Spreadsheets to the Next Level - Advanced Features (11/21)

Excel Macros: Every Day Useful Tools (12/4)
Save time - Avoid Excel's time consuming menu change, search and click routines. Everyday Excel tasks may take only a few clicks, but see the power of macros that takes even less effort. Small time savings many times a day will increase your efficiency. No previous macro experience is required.

NETWORKING:

Committee Meeting this Week

South Shore Breakfast Forum (10/30)
Get an update on Massachusetts divorce laws from Robin Lynch Nardone, JD.

Young Professional Networking with the Boston Bar Association (11/20)
Join the MSCPA and the Boston Bar Association for an evening of cross-industry networking. This is an excellent opportunity to meet other young professionals, build your network and develop referral sources.

MEMBERSHIP:

Temporary Workforce
Looking for temporary work? Employers post temporary and seasonal job opportunities on our website. If you're one of the many accounting professionals who is looking for temporary work, browse our website and find the right position.

NEWS & EVENTS:

5 Technologies to Develop More Business for Your Firm
There are five technologies firms can use to attract more business.

VIDEO: What You Need to Know About the 2015 CPA Exam
Are you sitting for the CPA Exam in 2015? Changes are happening - find out what you need to know in order to be successful. 

Top 8 Annoying Business Buzzwords
What's buzzing in your office? This survey identified the top eight used and abused terms in accounting firms.

Who Can Claim the Premium Tax Credit?
Recent litigation led to conflicting decisions— find out what this means going forward.