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Dear Hannah:

The season of giving is upon us! If you’re still looking to make a difference before 2016, I’ve got some ideas that will not only make you feel great, but also come back to benefit you as well.

The first is by making a donation to a Community Development Corporation (CDC) and receiving a 50% Community Investment Tax Credit in addition to the normal deduction for a charitable contribution. Every day, in neighborhoods and cities across the Commonwealth, CDCs are working hard to spur affordable housing and job creation, incubate small businesses and revitalize neighborhoods. The Community Investment Tax Credit (CITC) program is a public-private partnership that you can promote to your clients—or take advantage of yourselves—that both accelerates this important economic development work and provides tax benefits in return. Take a look here at what other donors, including AAFCPAs, have said about this fantastic program and then make your donation/investment here - and do well while doing good.

The second opportunity is to give back to your profession while fueling the pipeline. By making a donation to the MSCPA Educational Foundation, your donation not only will help deserving students become CPAs, but it will also ensure a bright future for your profession. The Foundation provides financial assistance for programs that benefit students, educators, and ultimately, you. All contributions to the MSCPA Educational Foundation are tax deductible. Please make your online donation today.

One program supported by the Educational Foundation that I find particularly exciting is the Careers in Accounting and Management Professions (CAMP) Program, a week-long, all expense-paid summer residency program at UMass Amherst to introduce high school students from diverse ethnic backgrounds to various opportunities in the business world, particularly accounting. Last summer, I spent some time with these kids, and was inspired – so much so, that I would like to issue a challenge. I will personally match the first three firms that step up with a $500 donation so that we can establish a $1,000 scholarship for three CAMP kids for their freshman year of college – email me directly if you are interested!

And finally, on behalf of all of us at the Society, I would like to wish you all a very happy holiday. Due to the holiday, we will be taking a little end-of-the-year breather. We’ll be sharing with you the top clicks throughout 2015, and we’ll be back in action on January 8. We’re looking forward to seeing you in 2016!

Amy A. Pitter
President & CEO


NETWORKING & MEMBERSHIP:

Developing Your Personal Brand Workshop (1/8)
While developing brand recognition is crucial for companies and consumer products to be successful, it's equally as important for professionals to develop their own personal brand. The MSCPA and Grant Thornton are co-hosting a breakfast workshop for young professionals to help bring awareness to their personal brand.

Young Professional Networking Event with the Boston Bar Association (1/12)
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. Beer, wine and appetizers will be provided by the Boston Bar Association.


Recruiters, Take Note!
Don’t miss the opportunity to include your firm in the 2016 edition of the "College Student's Guide to Accounting Firms in Massachusetts."  A valuable resource for job-seekers of any experience level, this directory is frequently downloaded on MSCPAonline.org and CPAtrack.com. The print edition is distributed to accounting departments and career centers at colleges throughout the Commonwealth.


Temporary Job Opportunities
Looking for extra help? Check out the temporary job opportunities on our website! New positions are posted regularly.


NEWS & RESOURCES:

How CPAs Can Start Their Own Businesses
Budding entrepreneurs, take heart—being a CPA already gives you a head start on some business basics.


5 Tips for Better Public Speaking
It can be tough to start talking to a stranger. These sentences will help.


10 Workplace Trends That Will Change the Way You Manage
New year, new trends to familiarize yourself with.


These Are Apple's Top 25 Favorite iOS Apps of the Year
Apple has just dropped its hand-picked list of its favorite iOS apps. Many of them are things you’ve probably seen before — but many of them are pretty unheard of.



CPE:

Advanced Tax Forms - LLCs, S-Corps and Partnerships (1/12)
It is critical that staff be trained on the increasingly complex forms-related issues that challenge them each busy season. This course will help experienced staff avoid costly mistakes by addressing advanced preparation issues when dealing with flow-through entities such as S corporations, LLCs and partnerships.

Nonprofit Conference (1/21)
Specifically designed to help you untangle today’s nonprofit challenges, the MSCPA's Nonprofit Conference has a fully loaded line-up. You will leave finely tuned for handling pressing issues and efficiently managing financial operations—gearing you up for success!

  • You're learning from top experts. We're bringing the nation's best thought leaders to this conference to share their perspectives on the most crucial issues facing nonprofit organizations.
  • You're getting smarter. Enlighten yourself with thought provoking sessions on topics including employment law, fraud, return conformity, FASB developments, grant writing, proposed standards and disclosure changes and much more.
  • You're building your network (and could win great prizes!). We've carved out time for you to mingle with peers who face the same issues. Plus, our exhibitors are giving away prizes - and we want you to win.

Annual State Tax Conference (1/26)
Join us for an enlightening conference that will help you stay informed on all of the tax issues Massachusetts CPAs face today. At this conference, you will:

  • Learn best practices from the DOR;
  • Explore the new dispute resolution offerings from different perspectives;
  • Tackle the challenges associated with multi-state taxation;
  • Understand the complexities of estate planning and employment law;
  • Hear what tax issues will be addressed in the 2016 legislative sessions; and
  • Much more!

LEGISLATIVE UPDATE:

IRS Update: 2016 Standard Mileage Rates Announced

The IRS announced Thursday that beginning on January 1, 2016, the standard mileage rates for business will be 54 cents per mile, down from 57.5 cents this year. Rates from miles driven for medical or moving purposes will drop from 23 cents in 2015 to 19 cents in 2016.

DOR Update: MassTaxConnect Questions?

The DOR launched their new tax software system, MassTaxConnect, at the end of November. If you are experience any issues, please visit the DOR’s website for helpful tips and guidance for first time users.   

Advocacy Update: Lawmakers, Budget Officials Weigh in on Revenue Growth for FY 2017

Representatives from Governor Baker’s Administration, the DOR, Treasurers Office and others gathered for the annual consensus revenue hearing on Beacon Hill. Overall, officials expect modest growth into 2016 and 2017 but Administration officials warn it may not be enough to meet the Commonwealth’s budgetary obligations.

Advocacy Update: Congress Reaches Deal over Budget, Extenders

Congressional leaders released the most recent budget compromise and extenders deal. Lawmakers are extending many of the expiring tax deductions, while making several permanent. Among the provisions that would be made permanent under the bill are the enhanced Child Tax Credit, the enhanced American Opportunity Tax Credit, the enhanced Earned Income Tax Credit, the above-the-line deduction for teachers who buy school supplies, the charitable deduction of contributions of real property for conservation purposes, along with the Research & Development Tax Credit and Section 179 expensing.


 
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Massachusetts Society of Certified Public Accountants - 105 Chauncy St., 10th Fl - Boston, MA 02111 - http://www.mscpaonline.org

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