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I finally read The Boston Globe ’s riveting series on the fate of valedictorians from Boston public schools . The story of these valedictorians is one of wasted potential; kids we thought would set the world on fire as high school seniors haven’t come close to realizing their dreams, as many faltered in college or after. They lacked adequate preparation, mentors and advocates. This series reiterated the importance of guiding and advocating for college students, which is integral to their success as adults. At the MSCPA, we are committed to helping accounting students thrive in their careers by preparing them to enter the profession. While we have a team ...
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We’ve been hearing from members who have questions about the new Paid Family and Medical Leave law. For those who aren’t aware, in 2018, Massachusetts signed into law a statute that provides paid family and medical leave (PFML) benefits to workers. This program provides temporary income replacement to eligible workers who are welcoming a new child into their family, are struck by a serious illness or injury, need to take care of an ill or ailing relative and for certain military considerations. Employers and employees must begin making contributions in 2019, with benefits becoming available to employees in 2021. Draft regulations were published late last ...
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While earning CPE might take a backseat during tax season, I wanted to share some exciting news. Your CPE Tracker can now be saved as a PDF file, so you can easily upload and submit your record to the Board of Public Accountancy. We added this feature to help simplify the reporting process, which is now paperless. To get started, visit mscpaonline.org/tracker , select your renewal year or date range, and click “Save as PDF.” As a reminder, all MSCPA members have a CPE Tracker and every course taken with the MSCPA is automatically entered in your Tracker, and you can manually add any third-party course. You can check it out here (you will need to login to ...
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Big news this week: final regulations were issued on January 18, implementing the new Qualified Business Income (QBI) deduction of Section 199A. The new QBI deduction was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA) and allows a deduction of up to 20% of QBI from a U.S. trade or business operate as a sole proprietorship or through a partnership, S corporation, trust or estate.   In response to arguably the most requested clarification from tax professionals, Notice 2019-07 separately issued a proposed revenue procedure containing a safe harbor under which a rental real estate enterprise will be treated as a trade or business solely for purposes ...
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With busy season drawing near, the MSCPA is taking to social media to promote the value of CPAs to your potential clients! With that being said, I’m happy to announce that during tax season, the we will continue to promote our Find A CPA Directory , where the public can search for a CPA based on their specific needs. If you are not currently in the Directory, you can sign up at mscpaonline.org/joinfindcpa .  I’m also pleased to share that we will be running four tax season videos on YouTube to drive traffic to the Directory. The videos are a part of “ Real experts. Real results ,” the Society’s advertising campaign that was created in 2017 for CPAs ...
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With tax and winter season upon us, it is our goal to help you stay happy and healthy during the next few months. That’s why I am excited to announce that this year’s third annual MSCPA Fitness Challenge will run Monday, February 4 – Monday, April 15. This friendly competition, sponsored by Harbor Strategies Group , is designed to help you stay active during tax season and winter, and we’re hoping you’ll join us for the challenge! The deadline to gather your coworkers and sign up a team is Sunday, February 3 at 11:59 p.m. Team totals are calculated by average and teams of any size are encouraged to participate. Award categories will once again be based ...
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Preparing for Busy Season

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Happy New Year! I hope your 2019 is off to a wonderful beginning. For many members in public accounting, the start of a new year is a sign that busy season is just around the corner, and I want to remind you that the MSCPA is here to help.   We've been working with the Department of Revenue (DOR) over the last year to help make this tax season run smoothly for both you and your clients. The DOR has taken measures to reduce the number of tax notices that will be sent to taxpayers this filing season and will only send notices when necessary. They also added a new contact email for tax professionals ( taxprofeedback@dor.state.ma.us ) to report any problems ...
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The holiday season is in full swing, and it’s a favorite time of year for many. In the spirit of the giving season, I am asking you to consider giving to the MSCPA’s Educational Foundation scholarship program , which provides funding to help Massachusetts accounting students pursue degrees and join our profession. The Foundation is backed entirely through donations, and we’ve been honored to get to know many students who have benefited from the generosity of our members and firms. Here are two of their stories: I ’m always looking for better opportunities for my future, and I know that one of the ways I could improve was in going back to school, getting an ...
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Good news: the demand for CPA services is growing, and client fees are up 4.2% across all firm sizes. That’s according to the recently-released results of the 2018 National Management of an Accounting Practice (MAP) Survey , which was launched in June to help firms see how they stack up with the rest of the profession. Over 1,900 firms participated in the survey and the findings revealed some important practice management trends. For example, more firms are strengthening client relationships by focusing on the value of client services, such as value pricing/value billing and fixed pricing. In fact, the survey found that firms with $200,000 to $750,000 in ...
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Greetings from Mohegan Sun! I’m writing to you from our New England Practice Management (MAP) Conference and have spent the last three days networking with 160 firm leaders and learning from industry experts. The buzz here is about new ways to think about the profession and practice operations. While session topics varied from giving effective feedback to lean tax, all revolve around a simple truth: For a number of reasons, including technology, new generations and globalization, our profession is changing and changing fast. It’s increasingly important for firms to be nimble and adaptive, and we’re learning strategies to help firms get ready for the future. ...
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With the end of 2018 in sight, many of our members in public accounting are talking about charitable giving with their clients , and it's a complex, yet important topic. Understanding the client's perceptions of these discussions before you meet will help CPAs plan the best way to advise them, which ultimately strengthens the relationship. That is why we have partnered with the Boston Foundation, The Philanthropic Initiative and the Boston Estate Planning Council to present " The Philanthropy Talk: How Do I Do It & Why Do I Have To? " on Tuesday, December 11 from 8:00 – 10:00 a.m.  This free event is open to all members and includes a presentation ...
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As you may already know, the Society administers a periodic survey to gauge current and anticipated taxpayer behavior to help the Department of Revenue (DOR) predict monthly revenue collections. State officials are often unsure of taxpayer behavior in a given year or during a particular timeframe as it relates to capital gains, bonus activity, safe harbor or corporate investment, and your advice can make a difference as these leaders plan for the year ahead. Your expert input also elevates the CPA brand and helps position CPAs as valued thought leaders in the Massachusetts business community.  To complete the survey, click here . The feedback we’ve received ...
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CPA firms and companies seeking to stem staff turnover and build capacity in a disruptive world must provide an avenue for staff and managers to learn and practice leadership development, in addition to technical training. That is the message from numerous studies and surveys by the accounting profession, talent placement firms, academics and other human resources experts. As a result, the MSCPA developed our Emerging Leaders Summit, which will be held on Friday, November 16 in Boston. At this one-day summit, attendees will learn how to become leaders in their professional lives and how to be catalysts for change in their organizations. The agenda is jam-packed ...
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Yesterday was one of the days I love most at the MSCPA. It was our Women's Leadership Summit, and over 250 people gathered in Boston to hear powerful presentations on being your authentic self in the workplace and strategies for prioritizing your work to-do list. I also had the opportunity to present our 2018 Women to Watch Awards to seven outstanding women in accounting. Congratulations to Angela Barcelos, CPA, Maura Hodge, CPA, Tracy LeMaire, CPA, MBA, Jessica Ackerman, CPA, Cheryl Burke, MBA, Janice O'Reilly, CPA, CGMA and Jane Steinmetz. You are real role models for other women in accounting and you're changing our profession for the better. Click here ...
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As you know, fueling the CPA pipeline is a top priority at the Society, which is why I am pleased to announce the launching of our redesigned  CPAtrack.com ! Over the past year, our Academic & Career Development team has been hard at work building a new-and-improved website dedicated to helping students become CPAs in Massachusetts.   Some of our new features include an enhanced navigation, so it’s easy to find the resources and information students need most; updated FAQs that reflect the latest information on Exam and licensing requirements; and a responsive interface, so students can easily access it on any advice from anywhere they are. With a beautifully ...
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The Future of Accounting

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I was at Stonehill College today visiting with accounting students to discuss our great profession and what it will look like when they start their careers. Our focus was on technology, and how emerging technologies (like blockchain, AI, robotics, etc.) are changing the skills they’ll need to succeed. To learn more about these technologies and their impact, click here . It was a great day, and the excitement these students have about accounting is nothing short of inspiring. On my ride home, I reflected on why events like this matter. It’s so important to engage with students while they’re still in school, as it’s critical to building a robust pipeline. At ...
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As our fall conferences get underway, I wanted to remind you about a wonderful opportunity to save significant amounts on training costs. The Workforce Training Fund reimburses firms and companies for up to 50% on seminars and conferences – you can train two people for the price of one! Businesses with 100 or fewer employees that contribute to the Workforce Training Fund are eligible to apply for an Express Grant, and all for-profit companies automatically pay into the fund. All MSCPA live seminars and conferences are eligible for the reimbursement, but your application must be submitted at least six weeks prior to the training. Here are the deadlines to ...
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Over the last couple of weeks, I got a small case of whiplash from reading two articles about how the accounting profession embraces and supports women in their ranks. The first was an article in the Wall Street Journal talking about how the Big 4 firms are working hard to increase the number of women in leadership roles but only 11% of the engagement partners for the audits of S&P 100 companies are women. Then yesterday, I saw this article that said the Big 4 and other top accounting firms are among Working Mother ’s 2018 “100 Best Companies” list. Congratulations to our firms on this list! What’s the takeaway? Our hearts are in the right place; ...
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While it’s an exciting time with school recently being back in session and tomorrow marking the last day of summer, the rising costs of education makes pursuing an accounting degree a challenge for many. This reason, coupled with  the profession’s increasing talent shortage , is why I’m asking you to consider giving to the MSCPA’s Educational Foundation, which provides financial assistance for programs that benefit students, educators and ultimately, you. I am proud to say that the Foundation has awarded over $1,000,000 to deserving students since 2006. However, the level of need has never been greater, and with your support, we can help remove the barriers ...
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We’re off to a busy fall! Our Academic and Career Development team has been having a blast visiting campuses across the state and making students aware of all the benefits and resources that our MSCPA student members receive. We are excited about our upcoming annual  MSCPA Career Fair & Graduate School Expo  on September 21 at the Marriott in Boston’s Copley Square. We have 50 exhibitors, a mix of public accounting firms and graduate schools that are excited to meet students and talk about available opportunities!   This is a great chance for students to meet recruiters from local, regional and international firms as well as reps from colleges/universities ...
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