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MI Treasury E-Services, Treatment of Rental Income, Glow Run for Hospice of Michigan and more

by MICPA | Jul 18, 2017   ()

Michigan Treasury Online Debuts Additional E-Services
Michigan’s business taxpayers now have even more options for conducting transactions with the state using Michigan Treasury Online (MTO). Last month, the state Treasury Department’s business taxes e-service platform underwent an additional round of upgrades. Businesses can now bulk e-File Sales, Use and Withholding taxes using approved tax preparation software, as well as make fast payments for Corporate Income Tax, Michigan Business Tax and SUW taxes separate from filing a return. READ MORE

Treasury RAB Addresses Treatment of Rental Income
Michigan Department of Treasury Revenue Administrative Bulletin 2017-16 addresses whether rental income is characterized as business or nonbusiness income. READ MORE

Join MICPA in Glow Run for Hospice of Michigan
Come light up the night at the first ever Memorial 5K Glow Run in Elk Rapids on Saturday, Oct. 14. Just a few miles north of Traverse City, this waterfront village will be a perfect backdrop to a family and pet-friendly 5K to benefit Hospice of Michigan. Not a runner? That's ok, you can walk the 5K or you can turn around at the 1-mile marker. MICPA is a sponsor of this event, which will raise funds to cover unmet needs of HOM patients and their families. Register by August 30 for early-bird discounts.  Visit www.hom.org/glowrun for details and registration.

New Audit Documentation Resource
The AICPA offers a new free toolkit to help you document audits appropriately and comply with standards. It includes a tool for evaluating SOC 1 reports, model working papers and more.

Don’t Take the Bait: Avoid Spear Phishing Emails
The IRS, state tax agencies and the tax industry warn tax professionals to beware of spear phishing emails, an increasingly common tactic used by cybercriminals to target practitioners. Spear phishing emails, which are often tailored to individual practitioners, result in stolen taxpayer data and fraudulent tax returns filed in the names of individual and business clients. READ MORE

Proposed GASB Statement Would Change Debt Disclosures
A proposed GASB Statement would change the information that is disclosed in notes to government financial statements related to debt, including direct borrowings and direct placements. It also would clarify which liabilities governments should include when disclosing information related to debt. READ MORE

FASB Simplifies Accounting for Certain Financial Instruments
The Financial Accounting Standards Board has issued a standard that simplifies accounting for certain financial instruments with down-round features. READ MORE

AICPA Acquires High School Accounting Curriculum Training Program
The American Institute of CPAs has acquired the Accounting Pilot and Bridge Project (APBP) from Dr. Dan Deines, CPA. The APBP trains high school educators to teach a higher level accounting curriculum. One of the Institute’s primary goals for the program will be increasing its reach. The AICPA will also be providing additional guidance and support to strengthen the community of teachers who have been trained to teach the course. READ MORE

4 Tips For Prolonging Your Phone's Battery Life
Deleting old apps, using airplane mode judiciously and limiting use of your charger can help keep your mobile phone running stronger and longer. Learn more in this CGMA Magazine article.

Source: MICPA
Source: MICPA

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