James Schiavone Feed

James Schiavone

Media Relations Manager
American Institute of CPAs

Born and raised in New York City, James graduated from Tulane University with a BA in Sociology and English minor. In his role on the media relations team, he scours the news for articles relevant to the accounting profession and the finance industry. From the front page of the New York Times to obscure blogs in the back corners of the Internet, James finds the news CPAs need to know and shares it with them through the AICPANews Twitter account. He does proactive media outreach, tracks, analyzes and reports on the AICPA’s media activity and manages the AICPA’s Press Center.

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AICPA in the News: Personal Finance Tips from CPAs

CPA Web-PFS_center_1cCPAs provide tremendous value in the area of financial planning by helping clients understand changes in laws, as well as trends which can affect their bottom line. Serving as trusted advisors, CPAs who work in personal financial planning are able to tailor their advice to meet the changing needs of their clients in an ever fluctuating economy.

Below are a few recent media articles highlighting the guidance of CPAs.

Jerry Love, CPA/PFS, responded to a Kiplinger’s Personal Finance reader who asked how to save for retirement if their employer doesn’t offer a 401(k).

If you have an eligible health insurance policy with at least a $1,250 deductible -- or $2,500 for family coverage -- you can contribute to a health savings account, said Love. You can contribute up to $3,300 in 2014 if you have individual coverage, or $6,550 for family coverage (plus $1,000 if 55 or older). Contributions are tax-deductible (or pretax) and can be used tax-free for medical expenses in any year.

Newsday reports that, with mortgage rates hovering around 4 percent, many Americans are considering purchasing a home. However, it is important to not rush to a lender until you're creditworthy. The best way to do that is to raise your credit score. AICPA member Kelley Long, CPA/PFS, advised that not applying for other loans or opening new credit cards would be one way to avoid damaging your credit score. In addition, not closing cards is a prudent step, because it reduces your available credit and therefore boosts the percentage of available credit your other cards represent.

A recent FoxBusiness.com article relied upon the expertise of two CPAs to shed light on the havoc financial fraud can cause the elderly. “If you’re 20 [years old] and something happens to you financially, you have a long time to make a difference “If you’re older and not able to go back to work and recover, having fraud perpetrated on you can significantly change the rest of your life,” said Mackey McNeill, CPA/PFS.

It can be difficult for those who are worried about their elders to gain more insight into their financial decisions to help prevent fraud, but Leonard Wright, CPA/PFS advises that effective communication can help break through. “There are ways to communicate with the elderly so they don’t feel like you’re taking over, said Wright. Tell your elderly loved ones that you can get a second opinion with finances just like you do with doctors.” This could also mean explaining the importance of calling another family member before sending any money to a third party or agreeing to a new contract, credit card or investment.

James Schiavone, Media Relations Manager, American Institute of CPAs. 

AICPA Announces 2014 Accounting Scholars Leadership Workshop Graduates

The American Institute of CPAs recently announced the 2014 Accounting Scholars Leadership Workshop graduating class. The Workshop, an annual invitational event now in its 20th year, is open to ethnically diverse accounting and finance majors who plan to pursue the CPA license.

ASLWThe 114 students selected for this year’s Workshop successfully completed the two-day program, which strengthened their professional and leadership skills, while highlighting the career possibilities becoming a CPA affords. The AICPA Foundation covers all program costs, which include the student attendees’ transportation, hotel accommodation, and meals.

“I am confident that the life lessons learned at ASLW will benefit these students and will help them immensely along their path to becoming CPAs,” said Kim Drumgo, AICPA director of diversity and inclusion and Vice Chair of the National Commission on Diversity and Inclusion.

Continue reading "AICPA Announces 2014 Accounting Scholars Leadership Workshop Graduates" »

In the News: CPA Award Season

AwardEach year, the AICPA honors our members and other key stakeholders for their contributions to the accounting profession.

In this post, I’ve highlighted a number of recent awards and the impressive contributions of those who have earned them.

Michigan Governor Rick Snyder, CPA, was honored with the Outstanding CPA in Government Impact Award: State Level. The award recognizes CPAs working in state government who have contributed significantly to increased efficiency and effectiveness of government organizations and to the growth and enhancement of the CPA profession.

To lessen the financial difficulties Michigan was going through, Governor Snyder infused his administration with a sense of urgency, saying he wanted to accomplish four years of policy reforms in his first year and then maintain that pace. Under Governor Snyder's leadership, Michigan has eliminated its $1.5 billion structural deficit and produced three balanced budgets. Read more in this CPA Practice Advisor article.

Continue reading "In the News: CPA Award Season" »

In the News: Role of Finance Function Expands as Business Complexity Increases

CGMA Logo The role of finance teams is expanding well      beyond traditional accounting and financial  reporting to encompass areas such as IT  development, cyber security and strategic  business planning. That’s according to a recent survey of CEOs, CFOs and other senior level Chartered Global Management Accountant designation holders. In addition to growth in the role of accounting and finance, the survey - conducted by the AICPA - found that business complexity has been increasing significantly, a trend that is expected to continue in the coming years. 

Continue reading "In the News: Role of Finance Function Expands as Business Complexity Increases" »

In the News: CPAs Provide Financial Tips for a Stress-Free Summer

Dollar-chaiseSummer was always thought of as the time for sunny days at the beach, BBQs and bonfires. But these days most American adults equate summer with financial anxiety, according to a recent telephone survey conducted for the AICPA by Harris Poll.

According to the survey, about 6 in 10 U.S. adults (59 percent) said their financial tension during the summer matches or exceeds the stress they feel during the year-end holiday season. The AICPA’s National CPA Financial Literacy Commission has been reaching consumers with tips to help them alleviate the stress of summer by making smart financial decisions.

Continue reading "In the News: CPAs Provide Financial Tips for a Stress-Free Summer" »

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