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E-News - April 16, 2019 - A Members-Only Resource, Volunteers Making the Difference and More

by MICPA | Apr 17, 2019   ()

Members-Only Resource: Read This Before Working in the Cannabis Industry
If you’re even thinking about entering the new niche of serving clients in the cannabis industry, you’ll want to make this new members-only resource your first stop.  We’ll walk you through applicable regulations and codes to keep you on the right side of compliance. In a related article, AccountingWeb offers three accounting pitfalls to avoid when working in the cannabis industry.
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THANK YOU FOR VOLUNTEERING!
Your Commitment Is Making A Difference In Michigan

April is National Volunteer Month, and we’d like to recognize the many MICPA members who generously give of their time and talents in so many ways. From tax assistance programs and other outreach activities to serving on a task force or engaging in advocacy, your efforts are why Michigan continues to move forward.

You are why the MICPA is one of the most respected organizations in the country. Thank you for all you do to support our mission!

Want to get involved?
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Recessions and Yield-Curve Inversion: What Does it Mean?
There’s a lot of chatter about the inversion of the yield curve and how it’s an indicator of an impending recession. To better understand, MICPA member Leon LaBrecque of Sequoia Financial takes a look at the history and the current situation in a recent Forbes article.
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AuthorHour Podcast Features New Book by Michigan CPA
MICPA member Wayne Titus III, CPA/PFS, AIFA, founding partner of AMDG Financial and AMDG Business Advisory Services, is featured on AuthorHour podcast with his new book, The Entrepreneur’s Guide to Financial Well-Being. Titus draws on his personal experience and professional background to help entrepreneurs find and build lasting relationships with advisers who understand their needs.
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Aggressive Letters Threaten to Seize Property, Social Security Benefits to Collect Past-Due Tax Debts
Michigan taxpayers with past-due tax debts should be aware of an aggressive scam making the rounds through the U.S. Postal Service, according to the Michigan Department of Treasury. In the scheme, taxpayers receive what appears to be a government-looking letter about an overdue tax bill, asking individuals to immediately contact a toll-free number to resolve a state tax debt. The letter aggressively threatens to seize a taxpayer’s assets ― including property and Social Security benefits ― if the state tax debt is not settled.
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AICPA Asks Government to Issue More QBI Deduction Guidance
The AICPA has asked the Treasury Department and the IRS to issue additional guidance on Sec. 199A beyond recently finalized regulations and a proposed revenue procedure in the form of a notice on a safe harbor for rental real estate. The Journal of Accountancy explains several issues identified by the AICPA.
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Putting Recession-Proof Plans in Place
The possibility of an economic downturn is weighing heavily on the minds of finance leaders. A new article from Financial Management explores how tactics used by CFOs in South Africa provide insight on how finance executives elsewhere can prepare for challenging times.
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Source: MICPA
Source: MICPA

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