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Practice Continuation Agreements: A Practice Survival Kit

October 24, 2016
With the aging baby boomer population, and when the death or incapacity of a practitioner occurs, several key issues arise including who will take control of client records and who will assure their safekeeping during the winding down of the practice. See this resource prepared by the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA).

Legislative and Accountancy Board Update – October 2016

October 20, 2016
This month’s legislative update includes information about a meeting on Personal Services Sale Tax held at the Society’s office, an update on the most recent Accountancy Board meeting, passage of the Mobile Workforce Simplification Act, letters of support on the Overtime Reform and Enhancement Act and a reminder about CPA license renewal dates.

U.S. House Passes Mobile Workforce Bill

September 23, 2016
The U.S. House of Representatives passed the Mobile Workforce State Income Tax Simplification Act of 2015, H.R. 2315, by voice vote on September 21. The bill would establish a uniform national standard governing the withholding of state income taxes for nonresident employees.

FASB Approves New Not-for-Profit Standard

August 19, 2016
The Financial Accounting Standards Board (FASB) issued a new standard that is intended to simplify and improve how a not-for-profit organization classifies its net assets, as well as the information it presents in financial statements and notes about its liquidity, financial performance, and cash flows.

Legislative and Accountancy Board Update – July 2016

July 25, 2016
This month’s legislative update includes information on the proposed personal services sales tax, Accountancy Board appointment, an update on this month’s Accountancy Board meeting, including disability fee waivers, the importance of responding timely to the board and the definition of a firm. A PAC update is also included.