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Dear Elizabeth,

It’s been a big week, both in Massachusetts politics and at the Society. While it’s a relief to have the election season behind us, big changes could be on the horizon with the Republicans controlling Congress for the first time in eight years. For the full scoop, read the latest edition of The Capitol Account, the MSCPA’s advocacy newsletter. Hot off the press, our November issue features information on the recent statewide elections, and updates on the MSCPA’s activity regarding legislation, litigation and regulation. Read it here.

In case you missed it, earlier this week we also released the Fall issue of SumNews. Your printed magazine is on its way to your mailbox, but you can read it online now. Find out what you need to know about 2014 year-end planning, see if you have the 10 characteristics of an influential leader, learn how to break up with problem clients (before tax season!), read our guide for students and young professionals on Obamacare and much more. The Fall issue also launches A Day in the Life, our profile series on MSCPA industry members. In this magazine, we follow Chuck O’Donnell, CPA, the CFO of food manufacturing giant, Hans Kissle Corporation. I visited him on the job, and I can tell you, it’s not what you’d expect!

As in politics, it’s never a dull moment at the Society. But, that’s what keeps life—and your profession—exciting. Have a great weekend.

Eileen P. McAnneny, Esq.
President and CEO

LEGISLATIVE UPDATE:

IRS Updates
- Tax Relief for California Earthquake Victims
- IRS Announces Tax Guidance Related to Ebola Outbreak
- Information Reporting Program Advisory Committee Issues Annual Report
- In 2015, Various Tax Benefits Increase Due to Inflation Adjustments
- Scam Phone Calls Continue; IRS Unveils New Video to Warn Taxpayers
- Plan Now to Get Full Benefit of Saver’s Credit

What the 2014 Republican Win Means for Business Tax Legislation
With the Republican party firmly in control of both houses of Congress, what are the prospects for comprehensive tax reform? Not as favorable as you might think.

CPE:

#ThrowbackThursday Sale - Extended through the Weekend!
Now until Monday, you pay 1999 pricing for The Market Basket Saga: A Grocery List of Lessons for CPAs Working with Family Businesses, our program specifically designed to help you work with family businesses. Don’t miss this chance to gain CPE at a nostalgic price!

Don't Miss It: Fraud & Forensic Accounting Conference (12/2)
Featuring case studies, tips on how to prevent fraud from happening to your clients and pointers on how to securely navigate the cloud, the Fraud Conference includes speakers with a wide variety of specialties and expertise. Join representatives from K2 Enterprises, the Bitcoin Foundation, Certified Fraud Examiners, State Auditor Suzanne M. Bump and more for tips to deter criminal activity and minimize your risk.

NETWORKING:

Committee Meetings Next Week

Speaking Opportunity at Hingham High School
We have received a request for a CPA to visit Hingham high school on Monday, November 17. If you would be interested in volunteering please let us know.

NEWS & EVENTS:

PHOTOS: Women's Leadership Summit and Women to Watch Awards
On October 23, over 120 women attended the Women’s Leadership Summit at the Westin Waltham. The Summit concluded by honoring the 2014 Women to Watch Award recipients.

Three Serious Mistakes to Avoid When Offering Tax Advice to Clients
Doling out poor advice is a serious offense for CPAs—one that can be extremely costly to clients and put them in financial jeopardy. Here are three serious mistakes to avoid when advising your clients, and what the right advice should be for each situation.

2014 MAP Survey Results
The AICPA PCPS/TSCPA National Management of an Accounting Practice (MAP) Survey is the profession’s premier benchmarking study, which allows firms to see where they stand in relation to their peers. View the results of the 2014 survey, and find out what it means for Massachusetts CPAs.