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

Nov. 30, 2021

BUSINESS

How companies are managing higher costs

Companies are increasing prices, conserving cash, searching for efficiencies and taking other steps to better manage tight supplies and higher commodity and wage costs.

CFO

https://www.cfo.com/supply-chain/2021/11/cfos-battle-margin-pressures-and-production-delays/

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How to create a more fulfilling role at your current job

It is not necessary to quit a job if you feel unsatisfied and wish to have new opportunities. Instead, you can position yourself for a more fulfilling role at your current company by discussing the situation honestly with your manager and offering suggestions about what you’d like to change.

BBC

https://www.bbc.com/worklife/article/20211124-why-not-quitting-might-be-great-for-your-career

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41% Professional Staff Managers Allowing Employees To Set Their Own Hours

Professional services firms are embracing new ways of working, but are they ready to ditch the traditional 8-hour workday?

CPA Practice Advisor

https://www.cpapracticeadvisor.com/payroll/news/21248290/41-professional-staff-managers-allowing-employees-to-set-their-own-hours

PERSONAL FINANCE

3 solid reasons why Congress should continue stimulus payments for remainder of pandemic

While the dream of additional stimulus checks has been declared dead by many, there are legitimate reasons some lawmakers continue to call for more federal aid.

USAToday

https://www.usatoday.com/story/money/personalfinance/2021/11/30/stimulus-payments-3-reasons-why-congress-should-keep-them-coming/49455279/

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Money managers turning to ‘econophysics’ to help them avoid the next crash

The work of a Nobel Prize-winning physicist is helping investing pros understand the science behind market manias like GameStop and Bitcoin.

Fortune

https://fortune.com/longform/meme-stocks-stonks-gamestop-econophysics-market-manias-giorgio-parisi/

POLITICS & POLICY

Congress works to fund the government

Congress faces a short-term deadline to fund the government to avoid a partial shutdown. Sen. Pat Leahy, D-Vt., is reportedly negotiating with Sen. Richard Shelby, R-Ala., and a stopgap spending measure could emerge by Wednesday.

The Hill

https://thehill.com/homenews/senate/583501-congresss-goal-in-december-avoid-shutdown-and-default

PROFESSION

Are you ready for Episodic Wealth Management?

The core of Episodic Wealth Management is that stuff doesn’t just happen to your clients between 9 a.m. and 5 p.m., Monday through Friday. Stuff happens 24/7, and a solid planning team must be ready to spring into action as the need arises.

AccountingToday

https://www.accountingtoday.com/opinion/are-you-ready-for-episodic-wealth-management

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How New Firms Can Attract and Retain Clients

New firms have a lot to consider when taking on new clients. Here are some strategies and key steps to attract and retain your ideal clients and overcome the challenges of growing a firm.

AccountingWeb

https://www.accountingweb.com/practice/how-new-firms-can-attract-and-retain-clients

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4 Tips for Remote Business Development

With the COVID-19 pandemic came changes to how businesses interact with clients, and CPA firms are no exception. Here are tips for maintaining chemistry and engagement remotely to build trust and rapport with current and potential clients.

AccountingWeb

https://www.accountingweb.com/practice/4-tips-for-remote-business-development

REGULATORY

Spring-loaded awards merit accounting scrutiny, SEC staff says

“Spring-loaded” awards are share-based compensation that companies award to executives shortly before announcing market-moving information. The SEC staff says that when measuring compensation, companies must consider the impact that the information will have upon release.

Journal of Accountancy

https://www.journalofaccountancy.com/news/2021/nov/spring-loaded-executive-awards-merit-accounting-scrutiny-sec-says.html

TAX

IRS warns of tax-related identity theft during holiday season

The IRS and its partners in state tax authorities and the tax preparation industry are teaming up this week on a special campaign to highlight the dangers of tax scams and identity theft at this time of year.

AccountingToday

https://www.accountingtoday.com/news/irs-warns-of-tax-related-identity-theft-during-holiday-season

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The top tax developments of 2021

The year 2021 has been a tumultuous one for tax professionals, with continuing pandemic-related developments as well as new legislation, regulations, court decisions and IRS pronouncements. While the major developments are familiar to most, there are some that might have been missed due to the busy nature of the profession during the past year.

AccountingToday

https://www.accountingtoday.com/list/the-top-tax-developments-of-2021

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Consolidated Tax Reporting’s Increasing Importance

Tax planners need to periodically review with clients whether to incorporate and when to consider multiple corporations.

AccountingWeb

https://www.accountingweb.com/tax/business-tax/consolidated-tax-reportings-increasing-importance

TECH

How to leverage automation for agility at your services-based company

Professional services must embrace automation to tackle the complexity that comes with business growth. Discover which performance indicators they should be paying the most attention.

TechMonitor

https://techmonitor.ai/technology/leverage-automation-for-agility-services-based-company

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Microsoft Windows 10 and 11 users warned to urgently update software

Microsoft is scrambling to fix a software vulnerability, and users are facing another round of security warnings as hackers race to exploit the weakness with malware.

The US Sun

https://www.the-sun.com/tech/4170934/microsoft-windows-hack-malware-update-operating-system/