CalCPA Daily Clips
Tags: Accounting, Business, California, Taxes, Personal Finance

Dec. 10, 2021

MEMBER IN THE NEWS

(Louis Barajas quoted.)

A chance encounter with Rick Warren turns an unhappy accountant into a purpose-driven financial adviser

Heeding a pastor’s advice to make a greater impact by doing something more meaningful

MarketWatch

https://www.marketwatch.com/story/you-never-see-a-u-haul-behind-a-hearse-a-chance-encounter-with-rick-warren-turns-an-unhappy-accountant-into-a-purpose-driven-financial-adviser-11639095587?mod=flipboard_pf

BUSINESS

How to avoid bad meetings and unnecessary tasks

This guide offers advice on deferring or declining unnecessary meetings, as well as a variation on the Eisenhower Matrix to spur focused decision-making — all in the pursuit of better productivity.

SmartBrief/Leadership

https://www.smartbrief.com/original/2021/12/say-no-unimportant-meetings?utm_source=brief

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Inflation and talent: 2 top headwinds facing business in 2022

Inflation concerns and staffing difficulties are dampening optimism about the economy among CPA finance leadership executives. Learn more in this podcast episode with transcript.

Journal of Accountancy

https://www.journalofaccountancy.com/podcast/cpa-news-inflation-talent-2-challenges-2022.html

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What’s ahead for ESG strategy and reporting after COP26?

Environmental, social and governance matters are becoming more prominent for investors and companies.

FM

https://www.fm-magazine.com/news/2021/dec/esg-strategy-reporting-after-cop26.html

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7 Keys to Communicating an M&A Deal Effectively

Here’s how to develop a potent story about a transaction and position it in the context of corporate strategy.

CFO

https://www.cfo.com/investor-relations-banking-capital-markets/2021/12/7-keys-to-communicating-an-ma-deal-effectively/

PERSONAL FINANCE

Gen Z may have unrealistic retirement expectations

A Goldman Sachs Asset Management survey suggests that one-quarter of members of Generation Z are looking to retire before age 55 — an expectation that might not match with reality. Just 8% of people retire before turning 55, and the most common time to leave the workforce is between the ages of 60 and 64, data shows.

Bloomberg

https://www.bloomberg.com/news/articles/2021-12-08/when-can-i-retire-gen-z-wants-to-stop-working-before-55-goldman-sachs-says

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Start treating your contributions like monthly bills

Saving money is an essential financial habit. Whether you’re saving for future expenses, emergencies, or retirement, having extra money set aside is beneficial.

USAToday

https://www.usatoday.com/story/money/personalfinance/retirement/2021/12/10/treat-retirement-contributions-like-monthly-bills/49496105/

PROFESSION

Why Your Social Media Is a Flop

Social media marketing is one of the top ways accounting and tax pros are gaining new business, and there’s plenty of evidence to show that it’s working for thousands of accountants. So, why is your social media failing?

CPA Trendlines

https://cpatrendlines.com/2021/12/09/why-isnt-your-social-media-working/

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Covid Taught Us the Importance of Slowing Down

Before the pandemic, there were always too many things to do, too many clients to see, and never enough time in the day. Finding work-life harmony seemed to be a constant struggle.

CPA Practice Advisor

https://www.cpapracticeadvisor.com/firm-management/article/21246813/covid-taught-us-the-importance-of-slowing-down

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Adding Value to Clients Through Organization

Here’s an approach to take to become more organized, efficient and begin to add true value to the services you provide your clients.

AccountingWeb

https://www.accountingweb.com/practice/practice-excellence/adding-value-to-clients-through-organization

REGULATORY

SEC’s Gensler: SPAC investors need better protection

Investors in special-purpose acquisition companies are provided insufficient information on SPAC deals and have inadequate protection from fraud and conflicts of interest, Securities and Exchange Commission Chair Gary Gensler says.

CNBC

https://www.cnbc.com/2021/12/09/sec-chair-gensler-seeks-tougher-spac-disclosure-liability-rules.html

TAX

Cryptoassets: What to keep in mind in 2022

Cryptoassets are here to stay. Tax advisers need to be ready as more clients engage in transactions involving digital assets.

The Tax Adviser

https://www.thetaxadviser.com/issues/2021/dec/cryptoassets-2022.html

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IRS rolls out more e-filing forms for nonprofits as systems lag

The IRS is asking more charities and tax-exempt organizations to file their information returns electronically as required by the Taxpayer First Act of 2019, but its aging systems are experiencing delays that are frustrating tax professionals.

AccountingToday

https://www.accountingtoday.com/news/irs-rolls-out-more-e-filing-forms-for-nonprofits-as-systems-lag

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5 tax to-do’s before the end of the year

The end of the year is coming up, and there are several things you can do to prep for tax season.

CNBC

https://www.cnbc.com/select/tax-tips-before-end-year/