CalCPA Daily Clips
Tags: California, Tax, Business, Irs, Calcpa

Dec. 22, 2020

BUSINESS

How new work methods change the hiring process

New ways of working could change the job search in important ways. For example, competition for jobs could increase if positions are no longer tied to a specific geographic area.

Fast Company

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SPACs Require Best-in-Class Communications From the Get-Go

Messaging delivered in an IPO or transaction of any type sets the tone for the long term and must be carefully crafted.

CFO

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Stock sales reach record $435 billion in 2020

2020 has turned into a banner year for stock sales, with firms achieving a record $435 billion in sales, outstripping the previous record of $279 billion from 2014. Initial public offerings account for roughly a quarter of the 2020 sum.

Bloomberg

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Lessons learned about remote work in 2020

Companies have learned a lot about remote work and its effect on productivity since March. Among other things, it’s important to remember that restructuring teams is sometimes necessary and that flexibility doesn’t solve caregiving issues for workers.

Fast Company

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15 Things Not to Do as an Entrepreneur in 2021

Whether you’re a small-business owner or run a large enterprise, avoid these missteps in order to get ahead next (or any) year.

Entrepreneur

PERSONAL FINANCE

How to protect the finances of a surviving spouse

Tax and Social Security issues can have a significant impact on the finances of a surviving spouse. Here are several steps married couples can take to plan ahead and address these challenges.

Kiplinger

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Financial Planning Lessons for Turbulent Times

“If you can keep your head when all about you are losing theirs and blaming it on you….” Those are the opening lines of Rudyard Kipling’s 1895 poem, “If,” but I’m sure for many CPAs, financial advisors, and investors it sounds a lot like what we experienced in 2020!

AccountingWeb

POLITICS & POLICY

Who’s next? Counties lobbied over vaccine priority list

Once the state issues its recommendations, California’s 58 counties will have some flexibility on who’s next to receive vaccinations. That discretion has sparked lobbying by unions, businesses and other interest groups trying to push their workers ahead in the line.

CalMatters

PROFESSION

A CPA’s guide to better prospect meetings

The failure of CPA firms to invest the time and resources in client opportunity meetings is a common contradiction and misstep in the accounting profession, especially given that new client acquisition is the “Holy Grail” of the CPA governing mentality.

AccountingToday

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2021 busy-season due dates can’t come soon enough

March and April tax filing and payment deadlines are already on CPAs’ minds.

AICPA Insights

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Your clients’ annual tax check-in shouldn’t be just once a year

The holiday season reminds us to savor time with family and friends, because with the new year, the tax season jumpstarts. Oftentimes, this four-month tax season crunch is the one and only meeting with our clients, causing a transactional relationship that is more of a compliance checkoff than a strategic session. Jan. 1 through April 15 are a whirlwind of 1120 forms and business calculations, but it doesn’t have to be a squeeze.

AccountingToday

REGULATORY

FASB proposes goodwill-evaluation relief for some private companies, NFPs

The Financial Accounting Standards Board has issued a proposal that would permit certain private companies and not-for-profits to elect not to perform goodwill assessments related to triggering events.

Journal of Accountancy

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The SEC fires a warning shot about COVID-19 disclosures

The recent settlement that Cheesecake Factory paid to the SEC was relatively small, but it conveyed a big message: Public companies must accurately disclose the current and anticipated material impacts of COVID-19 on their operations and financial condition.

AccountingToday

TAX

New coronavirus stimulus package contains some big tax items

The latest round of coronavirus stimulus legislation introduced in Congress on Monday includes some major tax provisions and changes for accountants to watch out for in the New Year.

AccountingToday

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IRS Asks Volunteer Tax Preparers to Step Forward

Can you or someone else from your office spare some time for a good cause during the busy tax return season? The IRS has a program for you.

AccountingWeb