News Finance

MICPA Goes With the Flow-Through in New Roundtable

Last week, the MICPA hosted a roundtable discussing the ins and outs of the new Michigan Flow-Through Entity (FTE) tax and its immediate impacts to taxpayers in 2022. MICPA State and Local Tax Experts Michael Merkel, Plante Moran, and John Eardley, Crowe, offered guidance and answered your burning questions about the FTE tax. If you missed it, here’s your chance to catch up, quick…

Read More


Positioning Against Emerging Risks in Realtime

In the midst of world changing events, existing areas of risk are further exacerbated by rising costs and geopolitical unrest. The MICPA breaks down two major factors at play in the current environment and what financial advisors can do to position themselves and their clients to withstand both.

Read More


Finding a Mentor

Mentors provide practical advice, support and encouragement, but most college students are missing out on this pivotal relationship, according to Katie Farah, 2021 MICPA Student Champion of the Year, accounting intern and graduate student at Walsh college. If you’re one of those students without a mentor, Katie shares four ways to find one!

Read More


Michigan Association of CPAs Advocates for Businesses and Practitioners on Schedules K-2, K-3

Last week, the AICPA and 52 state CPA societies sent a letter to Assistant Treasury Secretary Lily Batchelder and IRS Commissioner Charles Rettig regarding widespread concerns on the Schedules K-2 and K-3 reporting.

Read More


New Study Sheds Light on Accounting Image Among Students

A recent study published by the Center for Audit Quality (CAQ) examines the attitudes of high school and college students toward accounting. Find out what challenges this new data indicates for the profession, and what factors staff and faculty can focus on right now to address misconceptions and expand the CPA pipeline.

Read More


AICPA Comments on Recent IRS Statement: ‘We Believe That There Is More They Can Do’

Following calls by the Tax Professionals United for Taxpayer Relief Coalition, and members of both the Senate and the House for the Internal Revenue Service (IRS) to provide meaningful relief to taxpayers ahead of this tax filing season, the IRS announced today its intention to stop some notices to taxpayers as they increase resources to process backlogged files. The American Institute of CPAs (AICPA) believes this action is a positive first step, but believes that more should be and could be done by the IRS, without the need for congressional action, to reduce erroneous automated notices and unnecessary taxpayer contact with the Service.

Read More


Gov. Whitmer Lays Out New Tax Proposals in Latest Address

Last week, Gov. Gretchen Whitmer delivered her last State of the State address of her first term, ahead of the coming election season. Included in her addressed were three proposals regarding changes to both the MI earned income tax credit and the pension tax and proposal for a new electric vehicle proposal. The MICPA unpacks each provision as well as current legislation in the Senate aimed to cut individual and corporate tax rates.

Read More


UHY Advisors Appoints Twelve New Managing Directors, Six in the Great Lakes Region; Including Largest Female Class

UHY Advisors, Inc. (“UHY Advisors”), one of the nation’s leading professional services firms and fifth largest in Southeast Michigan, announced the appointment of twelve new managing directors, including six from the Great Lakes region Jeremy Falendysz, John Gallo, Jenna Lamb, Matt Munn, Jeff Solis, and Loni Winkler.

Read More


Key Takeaways from New MI Flow-Through Entity Tax Guidance

Michigan is among the latest states to pass its own state and local tax (SALT) reform, and a new notice from the Michigan Department of Treasury now includes more implementation guidance for the Michigan flow-through entity tax. Some key takeaways for tax and accounting professionals include...

Read More


College Money Won’t Fall From the Sky, but You Can Still Make It Rain

The Michigan Accountancy Foundation (MAF) Scholarship application deadline of Jan. 31, 2022, is swiftly approaching, but too often this important opportunity slips beneath the radar of eligible students. Find out why recent graduate and MICPA member Angel Stallings, CPA, accounting coordinator for the Detroit Pistons, says students should treat scholarship writing like a job, and how the MAF played a role in her journey to graduating debt free.

Read More