Despite the name, the Corporate Transparency Act (CTA) will primarily impact self-reporting practices for small- to medium-sized companies (SMEs). Find out how the CTA will affect your SME clients, including what information they will need to report, who is exempt, and how the MICPA is helping members prepare.
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In preparation for its upcoming Centennial Celebration Gala on Saturday, May 13, at the Detroit Athletic Club, Walsh College announced its list of alumni honorees to be recognized at the event for outstanding commitment to the Walsh community. Included among The Walsh One Hundred are 28 MICPA members!
In recent years, retirement plans have undergone numerous changes, particularly with the introduction of the SECURE Act in 2019. In 2023, the passage of the Consolidated Appropriations Act (CAA) included SECURE Act 2.0, which included 92 provisions for retirement savings plans
Last month MICPA President & CEO Bob Doyle testified before committee in support of Senate Bill (SB) 56 to update the Michigan Penal Code regarding cohabitation. The bill earned bipartisan support and passed 29 to 9. Tax preparers from around the state brought the current 1931 law and its unintended tax implications to the attention of the MICPA. SB 56 would benefit approximately 95,000 households in Michigan currently being denied benefits and place them in the same tax position as unmarried couples in almost every other state. The bill now heads to the Michigan House of Representatives.
MICPA Financial Literacy Task Force Chair, Mary Lou Gura, shares her insights and tips for building a better budget.
Follow these 6 steps to obtain financial wellness and take control of your finances.
DIY projects can be a great way to save money, but how much? Often, we as workers use our hourly rate times number of hours to value time. This is partially correct, but taxes are regularly neglected.
The topic of Financial Literacy is a passion of mine. Personally, I have seen how a lack of knowledge can affect others’ lives at any age. Many of us learn habits at a young age. If you are not used to setting aside a certain amount into savings each payday, it can be a difficult habit to start at a later age, although not impossible.
Few areas of the nation’s economy evolve at the rapid pace of finance, making it difficult for consumers to keep track of the most relevant strategies for managing money. Whether as a tool for strengthening individual financial capability or for teaching financial concepts to others, the MICPA suggests these three financial literacy resources for their comprehensive and regularly updated content.
One key principle in financial literacy is understanding your personal cash flow.