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E-News October 16, 2018 - IRS Extends Deadlines for Victims of Hurricane Michael, PTIN Renewal Season Now Open, and more

by MICPA | Oct 16, 2018   ()

IRS Extends Deadlines for Victims of Hurricane Michael 
After additional disaster declarations by FEMA, the IRS has added more counties that are eligible for individual and public assistance in areas of Florida and Georgia affected by Hurricane Michael. As the agency did throughout the weekend in advance of the Oct. 15 extension deadline, the IRS will be updating IRS.gov as any additional counties receive major disaster declaration designations from FEMA, either for individual or public assistance.
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MICPA Chair Robert M. Johnson Featured in Crain's Detroit Business
The MICPA's newly elected chair, Robert M. Johnson, was featured in the October 15 edition of the Crain's Detroit Business "People On The Move" section.
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PTIN Renewal Season Now Open
Preparer tax identification number (PTIN) applications and renewals for 2018 are now being processed. Anyone who prepares or assists in preparing federal tax returns for compensation must have a valid 2018 PTIN before preparing returns.
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IRS Highlights Tax Reform Changes Affecting Small Businesses
With just a few months left in tax year 2018, the IRS urges small business owners to learn about how the new tax law changes may affect them through a special webpage with updates and resources. For many pass-through businesses, the law changes created a new 20-percent deduction for qualified business income. Other deductions and credits have been changed as well, including revised depreciation methods and expanded options for expensing business property. There are also new rules for like-kind exchanges and fringe benefits.
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Michigan Employer Advisor - Fall 2018 Now Available
The Michigan Talent Investment Agency released its Fall 2018 issue of the Michigan Employer Advisor, a newsletter about unemployment issues. Read about improvements to online account management, learn about the Employer Filed Claims program, and find out the role of the Treasury Offset Program. 
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Assumed Name Renewals Available Online
Eligible corporations, limited liability companies and limited partnerships now can renew their assumed names online. Certificates of Renewal of Assumed Name were sent to those business entities whose assumed names will expire December 31. Between October 1 and December 31 the businesses who received these certificates may renew assumed names online for an additional five years.
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3 Ways Small Firms Can Turn Challenges Into Opportunities
AICPA Chair Eric Hansen, CPA, CGMA, shares his insights on the top issues facing small firms, as well as the ways practitioners can plan for today and tomorrow.
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Ramp Up Risk Management Practices
An organization’s strategic success is too precious to compromise by ignoring possible risks. With the CGMA Risk Management Toolkit, finance professionals will identify, plan for and even leverage risks to their organization’s advantage. Login required to access some materials.
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Company Policies, Training Key for Building a Welcoming Culture
Gaining top-level leadership commitment, reworking company policies and offering training in unconscious bias to middle managers are among the steps businesses can take to promote a more diverse workforce. Data suggest that companies that excel in diversity also outperform their competitors.
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MICPA+ Highlight: Discover Your Options with Accounting Practice Sales
Accounting Practice Sales invites MICPA members looking to buy or sell their tax/accounting practice to visit www.APS.net to see how their experienced brokers can assist with practice valuation, exit strategies or expansion opportunities.
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How Long $1 Million Lasts In Retirement
When it comes to retiring, where you live can make or break your golden years. GoBankingRates compared how long $1 million in savings would last in each state. That amount would stretch over 25 years Mississippi but less than 12 years in Hawaii. Another article from CNBC focuses on the best places to retire across Middle America.
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Source: MICPA
Source: MICPA

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