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E-News: June 12, 2018 - New Video: Michigan Specific Ethics Explained, Draft 2019 Form W-4 and Instructions Posted, Interest Rates Remain the Same, and more

by MICPA | Jun 12, 2018   ()
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Michigan Specific Ethics Explained
Earlier this year, the ethics CPE requirement for Michigan CPAs was changed slightly for the next reporting year, which ends June 30, 2019. Between now and June 30, 2019, one of your four required ethics hours must be Michigan Specific Ethics. Only one course qualifies for the state’s new requirement: it is provided by the MICPA in a wide range of options, including a number of free offerings.

View Michigan Specific Ethics courses (the free sessions are clearly identified).

You may only earn one credit of Michigan Specific Ethics per year, with one counting towards the renewal of your license in 2019 and the possibility to carryover one hour to the 2021 licensing cycle.

Remember this year’s CPE earning deadline (40 total hours) is June 30, 2018. You must have two hours of ethics by then. If you haven’t yet completed your 40 hours for this year, visit the MICPA store to explore many available options. If you’re not sure how many hours you’ve earned, log in to your CPE Tracker. (Your MICPA courses automatically post to your Tracker.)

Visit the MICPA website for more detailed information on the Michigan Specific Ethics requirement. 
Watch the Video

How Do Your Firm’s Salaries Compare with Others Its Size?
It’s so easy to get focused on hitting the next deadline or winning that next new client that we miss out on the chance to learn from others by spotting new trends, pinpointing gaps and identifying opportunities to improve our firms’ profitability. The newly redesigned and streamlined 2018 AICPA PCPS/CPA.com National Management of an Accounting Practice (MAP) Survey enables you to benchmark operations to keep your firm on pace with changes in the profession. The MICPA is pleased to be a supporting member of this popular survey once again this year. The new survey takes significantly less time to complete than in previous years. All participants receive a free personalized report. Click here (www.aicpapcpsmapsurvey.com) to get started. The survey closes on July 16.
MAP Survey

Draft 2019 Form W-4 and Instructions Posted
The IRS released a draft Form W-4, Employee's Withholding Allowance Certificate, and instructions for individual taxpayers to determine their income tax withholding for 2019. The Journal of Accountancy reports that the form reflects changes made by last year's tax overhaul.
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Interest Rates Remain the Same in the Q3 of 2018
The IRS announced that interest rates will remain the same for the calendar quarter beginning July 1, 2018, as they were in the quarter that began on April 1.
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Renew Your Membership Now and Receive Free CPE Offer
We appreciate your MICPA membership and your support of the profession! Take advantage of a special offer for four FREE hours of selected self-study CPE when you renew your membership by July 1, 2018. Additionally, as a special introductory offer, MICPA members can find Michigan Specific Ethics 2018-19 Edition FREE at select conferences. (One of your four hours of ethics for a reporting period must be in Michigan Specific Ethics – see related article above.) Please renew your membership today to take advantage of these offers and other member benefits.
Renew Today

Climbing the Lease Accounting Compliance Mountain
Accounting teams are under intense deadline pressure to comply with new lease accounting rules from the Financial Accounting Standards Board and the International Accounting Standards Board. Regardless of where your company is with its implementation, there are important practices you can use now to efficiently reach the finish line. Accounting Today explores the issues and offers tips.
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U.S. to No Longer Defend Key ACA Provisions
The Department of Justice indicates they will not defend key provisions (including the individual mandate) of the Affordable Care Act against a legal challenge brought by Texas and other conservative states, reports CFO.com.
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Federal Tax Reform: Not So Encouraging for State and Local Incentives
The new tax law makes many incentives state and local governments traditionally use to attract businesses taxable. The Tax Adviser takes a look at the rules and the types of incentives affected.
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Going Where No Accounting Firm Has Gone Before
Data management and emerging technologies are changing accounting firm models, pushing firms and practitioners to new frontiers. This Journal of Accountancy article explores the new skills, services and practice structures of the future.
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Source: MICPA
Source: MICPA

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