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Dear Elizabeth,

As 2014 draws to a close, I would like to extend a sincere thank you to you for helping to make our progress and prosperity possible this year.

This year, the MSCPA completed a strategic plan which will guide our organization in 2015 and beyond. We are more visible than ever on Beacon Hill, and continue to fight for your profession and we have developed a 2015 legislative agenda that we will share with you soon. Also, next month we will unveil a package of new and innovative benefits, including health and dental insurance. We are proud of these achievements and look forward to realizing our goals in the New Year.

As always, we remain dedicated to our mission of helping CPAs learn, connect and prosper in the accounting profession. It is our pleasure to serve you and thank you for allowing us to continue to support your firms and businesses. On behalf of the Board of Directors and staff of the MSCPA, I wish you and your loved ones a wonderful holiday season and a joyous New Year.

Best,

Eileen P. McAnneny, Esq.
President and CEO

LEGISLATIVE UPDATE:

IRS Update
• IRS, National Tax Groups Offer Help Selecting a Tax Preparer

DOR Updates
• Massachusetts Income Tax and Corporate Excise Deductions Where Federal Law Allows a Credit in Lieu of Deduction
• Tax Changes in the Fiscal Year 2015 Budget

What Practitioners Need to Know About Filing Status for Individual Taxpayers
Married taxpayers who file separately are not allowed to claim a number of tax benefits that are available if they file jointly, including the earned income tax credit. But filing jointly carries its own downside of joint liability. 

FASB Considering Revenue Recognition Delay to Reduce Uncertainty
FASB is investigating potential implementation problems as the board considers whether to delay the effective date of the new, converged revenue recognition standard.

Passage of Tax Extenders Contains Key Tax Breaks
Congress’s long-awaited passage of tax extenders legislation provides a short-term extension through only the end of this year of dozens of familiar tax breaks for businesses and individuals, along with a new savings program for the disabled.

CPE:

Tax Season is Just Around the Corner!

The Complete Guide to Payroll Taxes and 1099 Issues (12/29)
Payroll taxes have become an increasing burden for the average business and IRS penalties for noncompliance have risen dramatically in recent years. This course presents a comprehensive overview of federal payroll taxes, Form 1099 and related compliance issues.



The Top 10 Tax Topics of 2014 (12/30)
There are many issues in tax law that have a significant impact on clients. John Evanich of Surgent will explore those issues that have wide applicability and importance in 2014. It will deal with the practical aspects of understanding and planning for these areas of tax law.



Busy Season: A Guide to New Forms, Filing Issues and Other Critical Developments (1/6)
Get an up-to-date review of important tax form changes, new tax forms, key developments as they are reflected in the IRS forms and IRS filing issues and deadlines.

Advanced Individual Income Tax Return Issues (1/7)
Explore the tough tax issues for experienced practitioners and help them provide better planning strategies and results for their higher income clients.

NETWORKING:

Save the Date: Firm Administrator Breakfast (1/30)
All firm administrators are invited to join us on Friday, January 30 at Kevin P. Martin & Associates in Braintree from 8:30 – 10:00 a.m. The breakfast is a great networking opportunity and way for firm administrators to learn more about the MSCPA. The meeting will cover the MSCPA's 100% Membership Program, member benefits/discounts, website features for firm admins, networking events and CPE updates. Email Kara Kieran, kkieran@mscpaonline.org, to reserve your spot. 

MEMBERSHIP:

Hire an Intern
Help yourself while providing a valuable work experience that will allow a student to develop skills that are difficult to learn in a classroom setting. Make significant cuts in weekend or evening hours for your staff during busy season - hire an intern! Post your internship for free. 

NEW Volunteer Opportunity
Cosmic Sister - CPA with Nonprofit Experience

PHOTOS: Behind the Scenes at the Greater Boston Food Bank
On December 5th, MSCPA members visited the Greater Boston Food Bank. David Noymer, CPA, CFO and Tom Lacey, controller, gave a presentation about the history and operations of the GBFB followed by a tour of the Food Bank. Interested in hosting a Behind the Scenes event at your company? Contact Mona McCarthy, monam@mscpaonline.org.

List Your Firm in the 2015 College Student's Guide
Don’t miss the opportunity to include your firm in the 2015 edition of the College Student's Guide to Accounting Firms in Massachusetts. The print edition is distributed to accounting departments and career centers at colleges throughout the Commonwealth. 

NEWS & EVENTS:

The 7 Types of People You Need in Your Network
Look around: Do the people in your network have identical degrees and work for similar companies as yours? If so, it may be time to branch out.

CGMA Exam Information
Beginning January 1, 2015, all candidates will be required to pass a strategic case study exam in management accounting in order to obtain the designation. The good news is you can get your CGMA designation NOW if you meet the current experience requirements.

The Future of Peer Review
On December 15, the AICPA published a concept paper as part of the Enhancing Audit Quality initiative and is seeking MSCPA member input. The concept outlined in the paper was developed after two years of research and brainstorming by CPA profession leadership, staff, members and volunteers from across the country.