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Your Weekly MassCPAs
Member News
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Dear Hannah,
There are a few exciting
initiatives the Society has engaged in over the summer to fuel
the pipeline that you should know about before recruiting
season begins:
- We just signed a Memorandum of
Understanding (MOU) and committed
$25,000 to Bristol Community College in Fall River to
support the expansion of business oriented and
accounting-focused innovation pathway programs in public
high schools. This
builds on our work with Middlesex Community College for
the same purposes and two successful early college academy
programs at Haverhill and Chicopee High Schools. Each
program offers college-level courses and credit to
interested high school students at no cost.
Participating students will
learn the fundamentals of accounting and other business
domains. In addition to classroom studies, students will
also get real-life experiences through internships,
career-readiness workshops and mentoring opportunities,
all supported by accounting firms and businesses in the
area. For information about how you can participate,
contact Allie
Orlando, our director of academic and career
development.
- 25 high school students were
introduced to accounting as a career last week at our
Accounting Careers Exploratory (ACE) Leadership Program. Throughout the week, they
participated in mock interviews; took an innovative look
at the profession from our colleagues at Color of
Accounting; networked with accounting firm leaders; toured
Fenway Park and enjoyed a presentation from Timothy Zue,
CFO of the Boston Red Sox; attended a “dress for success”
session at Macy’s; and competed in our case study
competition where they were mentored by volunteers and
presented their ideas for a new business. They were lively
and creative – and excited to join our profession! Thank
you to Suffolk University and our sponsors and volunteers
from BDO US, LLP, Deloitte LLP and Grant Thornton LLP. To
view photos from the program, click
here.
I know you won’t be
recruiting any of these high schoolers in the fall – but our
strategy is getting the next generation excited about
accounting as they enter college, and these programs are making
a difference.
Have a great weekend and
stay safe in this never-ending heat wave!
Amy Pitter
MassCPAs President and CEO
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Important Legislative Updates
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Formal
Legislative sessions ended on Monday. Below is a snapshot of what
was done and what stalled.
Signed
$52 Billion
FY23 Budget; Updates Personal Income Tax Conformity Date
Governor Baker signed the FY23 budget last Thursday, which
includes an update to the Massachusetts income tax conformity
date from the current 2005 version of the Internal Revenue Code
(IRC) to the one in effect as of January 1, 2022. We are grateful
to the Baker Administration, Legislature and staff members who
met with us numerous times over the last few months as we
advocated for this update.
Enacted
and Laid Before the Governor
Massachusetts
Cannabis Industry Reform – Senate
bill 3096
The Legislature passed the conference committee bill and laid it
before the Governor for his signature. MassCPAs submitted a
letter to Governor Baker in support of the section that would
decouple Massachusetts from section 280E of the IRC. You
can read our letter here.
Veterans
and Military Families – Senate
bill 3075
The Legislature passed the conference committee bill and laid it
before the Governor for his signature. MassCPAs testified in
support of the section of the bill that would expedite the
licensure process for relocated military spouses holding
out-of-state professional licenses. You
can read our testimony here.
$4+
Billion Economic Development and Tax Relief – House
bill 5034
In a move that surprised seemingly everyone working in state
government and politics, the Legislature failed to pass its
economic development bill, which housed the tax relief proposals
that included changes to the estate tax code, senior circuit
breaker, earned income tax credit and more.
Due
to a cap on the amount of revenue the state can collect each
fiscal year, as
stipulated by law established in 1986, Massachusetts
taxpayers may be set to receive roughly $3 billion back from the
state. Because of these one-time rebates to Massachusetts
taxpayers, legislators hit the brakes on the tax relief proposals
mentioned above and did not pass by the end of formal legislative
sessions this past Monday.
This
week, in an article
by The
Boston Globe, MassCPAs President and CEO Amy
Pitter continued our calls for an update to the state’s estate
tax. Legislative leaders have committed to working on this
important legislation into the fall and we will continue our
advocacy efforts with them to ensure these critical updates are
adopted.
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Click
here to read the full Legislative Brief from this week!
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Curated CPE Bundles
Take the courses that matter most to you when it fits in
your schedule! We’ve packaged a selection of courses based
on member feedback, so you can get up to speed at your
convenience. Bundles include:
- Accounting & Auditing
- Industry
- Tax
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FREE Training with MassCPAs
Since last July, 237 firms/companies
took advantage of the updated state Workforce Training
Express Fund and saved more than $750,000 on
their CPE with MassCPAs. This year, more than 100
firms/companies have already taken advantage
of this incredible opportunity.
To qualify, you must register and apply
for reimbursement three weeks prior to the start of the
program/event.
Visit
our website for details or contact Julia Ekelund.
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New Member Benefit: HUB Go-Live
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Marketing
Committee Meeting (8/9)
Join the Marketing Committee next Tuesday, August 9, from
9:00-10:00 a.m. for a discussion led by Will Casserly, an account
director at Hinge, on how firms can address recruiting and
retention with their firm's culture.
To register,
click
here.
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August Committee Meetings*
*Registrants can now view the Zoom link
for their upcoming meetings here.
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Join MassCPAs on Wednesday, August 17,
for a joint networking reception along with the Financial
Planning Association of New England NexGen group, the
Boston Estate Planning Council and Trusts and Estates
Consortium. You'll enjoy happy hour at the rooftop pool at
Hotel Colonnade in Boston and meet some of Boston’s best up
and coming CPAs, attorneys, financial planners and other
experts. This is a great opportunity to help you grow your
business through referrals down the road. REGISTER
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Join fellow MassCPAs members at Fenway
Johnnie's on Wednesday, August 24, for a fun night of
networking before heading to Fenway to watch the Red Sox
vs. the Toronto Blue Jays. REGISTER
Please
note: This is a member-only event. Tickets
are limited, and seats will be in the Right Field
Grandstand. Maximum of four member registrations per
transaction.
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Wind up for the Karter Kup Tennis
Scramble on the grass courts of the Tennis Hall of Fame in
Newport, RI! All members and non-members are welcome, and
we all skill levels are encouraged to participate. Sign up
as an individual or foursome.
REGISTER
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Business
Skills Virtual Bootcamp
Take
your leadership skills to the next level by registering for our Business
Skills Virtual Bootcamp! This series
will strengthen the core leadership, business and communication
skills you need to lead teams, manage clients and succeed in your
organization.
Register
below for our remaining sessions of the series:
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Latest
HUB Discussions
Paid
Family and Medical Leave (PFML) Benefits
Small South Shore Nonprofit
MassCPAs Announces Our First HUB Go-Live!
Looking for a Controller (Work Primarily Remote)
READ MORE
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*See
the results in next week’s Friday@Five!
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Have you
read the July issue of SumNews?
80% Yes!
20%
Not yet
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Calling
All CPAs – Share Your “Why”
As part
of MassCPAs efforts to attract the next generation of CPAs to
the profession, we are seeking members to share their
"why" - why you became a CPA and why you remain one.
We are looking to highlight the career and personal benefits
that only come with having this designation. Please take this one-question survey to tell
us your “why.” We will share responses with high school and
college students, and feature them on our social media,
throughout the fall.
TAKE
THE SURVEY
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MassCPAs
is looking for external articles to include in SumNews. If you
or someone from your firm are interested in authoring an
article on a timely topic, please reach out to Lindsey
Baker.
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MassCPAs
President and CEO Amy Pitter will host a one-hour virtual or
in-person session to help your staff stay updated on the
profession and find out how they can make the most of their
memberships! The agenda can be tailored to fit your firm's
unique needs. To schedule your visit, contact Jill
Foley. Attendees earn one CPE
credit.
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Experienced
Tax Preparer - Kemalian & Associates, LLP
Experienced Audit & Tax Professionals - Joseph B. Cohan
& Associates PC
Tax Manager/Senior Tax Staff - Kenneth Freed & Company, PC
Tax
Professional - FFC CPAs, LLC
VIEW
ALL JOBS
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CPA -
Jeffrey E. Dorenfeld, CPA
Experienced
Associate - E.L. Mann, PC
VIEW
ALL PER DIEM JOBS
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Treasurer/CPA
Consultant - Massachusetts PTA
LEARN
MORE
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©2022 masscpas.org | Massachusetts Society
of CPAs
105 Chauncy Street, 10th Floor, Boston, MA
02111
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