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Tax Planning Strategies for 2020 Year-End

A series of policies set forth by Congress to mitigate the economic impact of COVID-19 means tax professionals and financial advisors have much to consider when it comes to 2020 year-end tax strategies. Find out what experts are saying businesses should take advantage of and what they should avoid when preparing their tax plan.

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The Effects of Lifestyle Creep & Ways to Manage It

So what exactly should someone do with extra money after a raise? Paying more into a retirement account, paying off debts, or just putting some extra dollars towards a specific savings goal are some approaches to take. A cash management account might be one helpful way to manage a raise and stay on top of a budget.

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HealthCare

5 Mistakes To Avoid With Retirement Account Beneficiary Selections

It is surprisingly easy and common to make mistakes when designating beneficiaries on retirement and investment accounts. While you may think it isn’t a big deal, mistakes with beneficiaries can be quite costly.

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GASB Sets Stage for Busy Year

Each year, new standards and revisions are proposed by accounting standards boards for consideration by stakeholders to ensure clarity, compliance and consistency. In a recent newsletter, the Governmental Accounting Standards Board laid out their plan for the first half of 2021. The MICPA breaks down what you can expect to see in the governmental accounting space in Q1 and Q2.

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Report Finds Accountants On "Brink Of Change”

It’s difficult to grasp that not long-ago artificial intelligence was a myth and only found in science fiction films. Today, technology is taking advantage of artificial intelligence and shaping the accounting industry as it serves to automate repetitive tasks, to help accountants improve productivity and achieve their goals. In this short article, you will read highlights of the latest research from the Practice of Now 2020 report gathered from 3,000+ accounting professionals across the globe.

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Defining and Adapting Your Leadership Style

Suzanne Peterson, associate professor at Thunderbird School of Global Management, says many talented professionals get held back from leadership roles because of relatively intangible reasons. She argues aspiring managers can intentionally alter their everyday interactions in small ways to have a large influence on their professional reputation.

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COVID

If You Worked Remotely Due To COVID-19

More than half of adults who worked remotely during the pandemic are unaware that they could face tax consequences because they didn’t update their tax withholding to reflect their new location, a study by the American Institute of CPAs found.

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Election Dissection: Deriving Meaning for the CPA

CPAs are licensed at a state level, it is Michigan law that determines what you need to do to become a CPA, what you can do as a CPA, and what, if you do it, will cost your CPA license. This makes state elected officials incredibly important to the profession and the practice arena in Michigan.

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COVID-19 Scams: Heist of the Century

National Cybersecurity Awareness Month (NCSAM) is over, but scammers continue the hustle as the IRS calls for college students and other regular non-filers to get their information logged by Nov. 21, 2020 in order to claim those unpaid economic impact payments (EIPs). The latest EIP scam making rounds comes by way of text in an attempt to snatch those EIPs right out from under unsuspecting recipients’ collective feet.

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Future

Cannabis Gains Ground in Michigan Post-Election

The ballots are in and everyone is wondering the about the same thing: recreational marijuana. Indeed, the state of recreational marijuana in Michigan was up for vote in 2020, and new ground was certainly gained. From mLive, the results of Michigan recreational marijuana ballot initiatives are in:

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