The AICPA and the CPA profession as a whole receive significant ‘ink’ each year, ranging from daily newspapers with large circulations to niche blogs with a few hundred readers. To help you keep track of it all, CPA Profession in the News is a short wrap-up highlighting a few interesting and informative articles about the CPA profession.
read so many great quotes from CPAs every day and have such a limited space to
summarize them on the blog– it can get to be a bit frustrating. As I began drafting my bi-weekly ‘In the
News’ post, I decided to switch things up this week.
present to you four helpful quotes from CPAs. Hey – everyone can use a little
help now and then.
As Kelli Grant reports in MarketWatch, going to summer camp
may be a rite of passage for children, but for parents, it seems more like an
initiation into the woes of tuition payments.
What parents might not know is
that camp expenses can translate into a tax break.
Continue reading "In the News: 4 Helpful Quotes from CPAs" »
Americans money stress brought on
by lighter paychecks this year is affecting more than their wallets — it’s
taking a toll on their waistlines, friendships and the amount of sleep they get.
That’s according to results of a new survey fielded for the American Institute of CPAs by Harris Interactive in recognition of National
Financial Capability Month.
The telephone survey, conducted between March 14 and March 17,
asked 1,011 U.S. adults to name all the ways financial stress is affecting
their lives. Of those who rate their financial stress “very” or “somewhat
high,” almost half, 47 percent, said they are sleeping less; 43 percent said
they have less patience with friends or are seeing them less often and 31
percent are eating more junk food or gaining weight.
Continue reading "In the News: Americans are Feeling the Effects of Money Stress" »
I’ve mentioned previously on this very blog, I am a procrastinator
My ‘to do’ list from January of this year is littered with winter-related items
(two prime examples are ‘purchase warmer jacket’ and ‘book ski trip for
President’s Day weekend’) that I simply didn’t get around to. In those
instances, I can shake my head, let out a self-pitying sigh and put it off
until next year… But if you missed the April 15 deadline to file
either your federal income tax return or an extension, you don’t have the
luxury of simply waiting until next year – the time to act is now.
Labant, AICPA director of tax advocacy, speaking to the New
York Times Bucks Blog, advised taxpayers to file as soon as
possible and to avoid falling into the trap of thinking ‘oh, the deadline
passed so there’s no rush now.’
Continue reading "In the News: You Missed the Deadline to File Taxes, Now What?" »
Do you see your
neighbor waiting by the mailbox for their tax refund? Chances are it’s not so
they can use it on a fancy vacation or a new spring wardrobe.
This year, workers
are most likely to save their refund or use the money for day-to-day expenses, according
to a recent survey conducted for the AICPA by Harris Interactive for
National Financial Capability Month. And
that refund money is substantial. An
AccountingWEB article on the survey results
states that through March 22, the average refund this tax season is $2,827.
That’s trending slightly lower than this time last year, when the average
individual refund was $2,860.
Continue reading "In the News: Using Tax Refunds Wisely" »
It’s been more than a month since my
(legendary?) first post of this tax season and there has
been a ton of recent media coverage. In my second tax season post, I’ll share a
few articles for those of you who haven’t filed yet. In addition, I promise to
throw in some good information for people who have their refunds already and
are just rubbernecking.
Once again this year, members of the
AICPA are using their expertise to answer one daily tax question from USA TODAY
readers and help the public understand how to approach some common filing
Thus far, readers have asked questions
regarding the requirements for claiming adult children as dependents and how to
handle the tax implications of rolling over an IRA.
Readers can submit
their questions to firstname.lastname@example.org through April 15.
Continue reading "In the News: You Got Tax Questions? We Got Answers!" »