CalCPA Daily Clips
Tags: Calcpa, Busines, Accounting, California, Irs

Dec. 15, 2020

BUSINESS

How you benefit from using vacation time

Pandemic-related restrictions might have disrupted your usual vacation plans, but it is still important to take time off at the end of the year. Time off gives you a better perspective on your job, letting you reassess your priorities and schedule.

Fast Company

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3 ways to professionalize your Zoom presence

Even when you’re working remotely, you want to look professional. These tips help you accomplish that during virtual meetings.

Journal of Accountancy

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The Psychology Of Workplace Burnout (And How To Prevent It)

Chances are in 2020 you’ve felt like you’re just scrambling to keep up with a conveyor belt, doing your best despite the fact that we have so little control over the speed of the conveyor belt — or in our case, the pandemic/economy/etc.

Forbes

PERSONAL FINANCE

Fed survey finds expectations of increased spending

The November Survey of Consumer Expectations from the Federal Reserve Bank of New York shows households expect spending to rise 3.7% during the next year.

Reuters

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Set up your 2021 budget: Start by knowing your expenses, financial goals

You’ve probably heard time and again that following a budget is a great way to spend less, save more, and avoid costly debt. And while budgeting isn’t a difficult thing to do per se, the more strategic you are in your approach, the more successful you’re likely to be.

USAToday

POLITICS & POLICY

California may be losing its business mojo

The timing could not have been more ironic. As veteran Democratic operative Dee Dee Myers — she was Bill Clinton’s press secretary at one point in her lengthy career — became Gov. Gavin Newsom’s new ambassador to business this month, three of California’s biggest and best known corporate entities announced moves to arch-rival Texas.

CalMatters

PROFESSION

Do THIS — not THAT — in preparation for the upcoming tax season

Ready or not, tax season 2021 is rapidly approaching. These important resources will help as you prepare for busy season.

AICPA Insights

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Cost versus value: Is GAAP obsolete?

Past attempts to develop standards for financial reporting, whether in the form of the ARB, the Accounting Principles Board, or the more recent Financial Accounting Standards Board, took place in an economic environment where capital investment and productivity were the key drivers of revenue and profit growth in the private sector, and where classical economists proclaimed that maximizing profits was the only goal governing decision-making in corporate America.

AccountingToday

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How to innovate within a CPA firm

Innovation can push CPA firms past the old school ways of thinking and outdated processes. Once CPAs adapt a truly innovative mindset, their whole approach to business and client relationships change.

AccountingToday

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How to Overcome Auditing Challenges Among COVID-19

Thanks to the COVID-19 pandemic, auditors are facing some real challenges in how they perform their work, including an increased risk in fraud and a greater chance of breakdowns in internal controls. Here are some resources auditors can use to make their jobs easier.

AccountingWeb

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Tax Season 2021 Guidance and Essentials

From critical tax changes and a process checklist for managing the workload to essential technology, get ready for tax season 2021 right here. AccountingWEB is proud to announce its 2021 Tax Season handbook to give a leg up on the upcoming busy season.

AccountingWeb

REGULATORY

Congress reportedly close to $1.4 trillion spending package

Lawmakers appear close to agreement on a $1.4 trillion spending bill to avert a government shutdown. House Speaker Nancy Pelosi, D-Calif., and Treasury Secretary Steven Mnuchin discussed spending and coronavirus relief Monday, and a bipartisan group of lawmakers has released a plan for an aid package that would be split in two parts.

The Hill

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Fraud on the rise amid coronavirus

COVID-19 has affected — and will continue to affect — the business environment in countless ways. And while these hurdles present numerous logistical and operational challenges, they also open the door to the increased pressure, opportunity and rationalization that can lead to fraud.

Association of Certified Fraud Examiners

TAX

IRS warns of new scam targeting e-filers

The IRS cautioned electronic return originators about a new identity theft scheme aimed at holders of Electronic Filing Identification Numbers from fraudsters posing as IRS contractors.

AccountingToday

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IRS extends acceptance of digital signatures and emailed documents

The IRS is extending until June 30, 2021, the period in which it will accept digitally signed and emailed documents due to the COVID-19 pandemic.

AccountingToday

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IRS cracks down on self-employed retirement deductions

The IRS is beefing up its controls to safeguard against improper self-employed retirement deductions, according to a new report.

AccountingToday