3 FAQs on the hosting services ethics interpretation

IStock-475647111When I started working in public practice more than 20 years ago, “the cloud” referred to something in the sky, not storing data over the internet. Things have changed. Our profession has and continues to benefit from technological advances like the cloud, and the AICPA Code of Professional Conduct is evolving just as practice is.

The code was written before wide adoption of current technological advances. To keep pace with change, we’ve developed guidance for members who act as custodians of their clients’ information—members who store and maintain their clients’ information for them.

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Millennials are changing our tax practices. Here’s how

MAIN IMAGE Millennial BlogMillennials are everywhere.

As the largest generation of Americans ever, they seem to be changing every aspect of our society. They’re influencing marketing trends, technological advancements, politics, travel, food — there’s little that isn’t affected by this generation’s unique way of doing things.

They are affecting your tax firm too — even if you don’t realize it yet.

Millennial tax clients are few and far between for most of us. Generally, their taxes aren’t yet complex enough to warrant our services. But as this age group acquires wealth, we’ll begin to see more and more of them walking through our doors.

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Take a ride with Next Stop: CPA – the official podcast of the CPA Exam

Final Next Stop CPA Podcast LogoDo you remember how it felt when you decided to become a CPA? The promise of those three magic letters can be very exciting, but first, comes with the start of a big life-journey. A journey that entails the preparation for the CPA Exam and the dedication and time commitment necessary to see it through. What’s the best way to study? Is the CPA even right for me? How do I find time to study? Those are just some of the questions that may have crossed your mind back then, and continue to come up with today’s future CPAs.

The AICPA recently launched a new podcast series, Next Stop: CPA, which takes a more informal, conversational, and at times, humorous approach to covering the wide range of topics that are most relevant and important to your Exam candidates. Hosted by AICPA’s Mike Horan and me, Next Stop: CPA releases 1-2 episodes each month that are designed to share valuable insights about the Exam, the profession and related topics.

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What to do when your client gets terrible health news

Ill client blog postNo one knows when a health crisis will strike. We can take steps to mitigate our risks — eat healthy food, exercise more often, quit smoking — but that doesn’t mean we can plan whether we’ll get sick.

But we can plan financially.

Jim Sullivan, CPA/PFS, specializes in working with clients suffering from chronic illnesses. He has seen firsthand the devastating effects of a sudden, serious health crisis and is an expert at care plan funding and recovery. His work, as he described it, allows his clients to focus on addressing the illness without the worry of how to pay for its costs.

Sullivan said that while he prefers to do proactive planning with clients before they get sick, he often starts working with a client just days after they’ve received terrible health news. Regardless of when he first engages with an ill client, his approach is the same: He creates a financial plan from scratch.

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16 free learning opportunities to take advantage of this summer

Shutterstock_633002651It’s summertime. The days are getting longer, the temperature is warming up and your most hectic time of year — workwise — is behind you. Congratulations! Now you can relax, at least a little. Summer is also the perfect time to hone your skills in preparation for fall busy season. We’ve assembled a handful of our favorite free resources to help you brush up on your skills and add a few new ones to your toolbox.

Find your niche

Search for that new service offering you’re passionate about. Once you find it, study up and absorb all there is to know about it. Home in and focus so you can really master it and add it to your suite of services. Here are some ideas to get started:

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