Proudly sponsored by:

Dear Elizabeth,

As baby boomers inch closer to retirement, filling the pipeline of students entering the accounting profession has taken on greater urgency. With this in mind, I’m excited to share with you some of the Society’s recent career development initiatives. Last night, we hosted a Career Fair Prep session – 29 students from colleges across the state met with firm representatives to polish interviewing skills, fine-tune resumes and take professional headshots. Students also participated in mock interviews where they were critiqued in preparation for the MSCPA’s Career Fair/Graduate School Expo. Thank you to all of our volunteers for making this event a success!

The Career Fair/Graduate School Expo will be held on October 2^nd at the Sheraton Boston Hotel. Accounting students will meet employers from small, mid-sized and international firms, and learn about graduate programs that satisfy the 150-hour requirement. For firms, it’s a one-stop-shop to meet the best young hires in the industry. View a list of participating firms and colleges, and contact Barbara Iannoni if you’d like to add your firm.

We are also focused on engaging students before they graduate from high school. The Society will host two conferences for high school students later in the year. “Is Accounting for Me?” is an accounting conference where students explore the CPA profession and hear panelists speak on the role of a CPA and potential career paths. The first conference will be held on November 7^th at Babson College, and the second will take place on December 14^th at Bentley University.  

We are looking forward to welcoming the next generation of CPAs into the profession, and we are dedicated to providing programs that bring educated, well-rounded and motivated young professionals to your firm or business. For information about all of our student programs, visit CPAtrack.com, our website for students and future CPAs. To join our efforts, sign up for Student Outreach on our website. We welcome your input and/or participation. If you have any suggestions about our programs, please let us know.

Have a great weekend.

Eileen P. McAnneny, Esq.
President and CEO

LEGISLATIVE UPDATE:

IRS Update
- Scam Phone Calls Continue; Five Easy Ways to Spot Suspicious Calls
- Summer 2014 Statistics of Income Bulletin Now Available
- Interest Rates Remain the Same for the Fourth Quarter of 2014
- New YouTube Videos Provide Tips on Healthcare, Tax Returns

IRS Sued Over PTIN Fees
Two CPA tax practitioners have sued the IRS over fees the agency charges to issue and renew preparer tax identification numbers. The plaintiffs have asked the court to prevent the IRS from charging the fees and to refund amounts already paid by practitioners.

Coakley, Baker Vie for Corner Office
After Tuesday's primary, it’s official: Democrat Martha Coakley will face Republican Charlie Baker in the November general election. The latest polls have Coakley leading Baker by 5 to 9 points in her run for Governor.

233 Reps Sign Letter in Support of the Cash Method of Accounting
A bipartisan group of House members sent congressional leadership a letter calling for the preservation of the cash method of accounting. The letter, which was initiated by the AICPA and promoted by state societies, had 233 signatures. We are happy to report that because of the MSCPA’s efforts, the entire Massachusetts delegation signed on in support of the profession!

House Takes Up Short-Term Extension of the Internet Freedom Tax
The U.S. House is awaiting action on a temporary spending measure that includes an extension of the moratorium on taxing Internet access that is set to expire on November 1, 2014. The MA DOR has issued a TIR in the event that the Act expires.

CPE:

Are You Prepared?
Amidst changing regulations and increased scrutiny, the area of employee benefit plan audits has become even more complex. Are your employers prepared for a DOL audit? Are you prepared to advise them on what an audit involves and fines for non-compliance? Don’t be caught speechless, our programs will help you best prepare.

InfoShare: State Tax Amnesty Program (9/26)
The MA Revenue Department launched a two-month tax amnesty program, where residents who owe taxes face no penalties if they pay during the program. The amnesty program, which is believed to involve about 300,000 people, covers all major tax categories including individual income tax, withholding tax, sales tax, meals tax and others. Join MSCPA member and State Taxation Committee Chair Inez Mello as she explains the nuances of this time-sensitive, recently enacted program.

SAVE THE DATE - 2014 New England State and Local Tax Forum (11/19)
This conference will provide an annual update on significant state and local tax developments from across the nation with a particular focus on New England. The agenda focuses on nine topics with separate tracks, including market-based sourcing in Massachusetts and beyond, a multi-state unitary combination update, and top sales tax and non-income tax issues in 2014. Plus, hear about the top issues in New England SALT and get an update from the six-state New England Commissioner’s panel.

NETWORKING:

Upcoming Committee Meetings
- Federal Taxation (9/16)
- Accounting & Auditing (9/17)
- Litigation Consulting & Business Valuation (9/17)
- Management of an Accounting Practice (9/18)
- State Taxation (9/18)
- Alternative Investments (9/18)
- Nonprofit Accounting & Auditing (9/18)
- Physicians, Dentists & Other Healthcare Professionals (9/18)
- Regulated Investment Companies (9/18)
- Academic & Career Development (9/19)

South Shore Breakfast Forum (9/18)
Time for a Circular 230 update! New regulations became effective on June 12, 2014 – find out what you need to know from David Klemm, CPA, JD.

MEMBERSHIP:

NEW Member Benefit - Discounted Tickets to Boston Bruins
Hockey is back at the TD Garden! Members get discounted tickets to the team's three preseason games: 9/24 vs. Washington Capitals; 9/30 vs. NY Islanders; and 10/4 vs. Detroit Red Wings. Orders are available online only. Promo code is gobruins.

Photos: MSCPA Softball League Championship
On September 9^th, the MSCPA softball league championship game was played between McGladrey and EY. It was a very close back-and-forth game until the fifth inning when McGladrey exploded with runs and ended up winning 29-11. Congratulations!

NEWS & EVENTS:

Financial Literacy for Your Clients
The MSCPA offers resources to help you build strong client relationships. Share these articles with your clients to enhance their knowledge and help them become more financially savvy. Two articles were just posted on our resources page:
- Don’t Make These Common IRA Mistakes!
- Five Disaster Planning Steps for Small Businesses

What 5 Character Traits Do Accountants Need?
Clients and potential clients look for certain qualities in their accountants. Incorporate these five traits into your conversation and your life, and watch your career take flight.

New Tech Tools for the 24/7 Accounting Firm
Looking to boost productivity? Create a virtual workplace. Follow these steps and provide your staff with access to resources they need to work anytime and from anyplace.

What to Know Before You Ask for a Raise
Think you deserve a raise or a promotion? If so, it might be time to schedule a talk with the boss and make a formal request. But first, you need to think about how your organization's size and structure affect your strategy.