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The first step to becoming financially organized is, of course, to determine how much money is coming into your household and how much is going out. Last year, MICPA Financial Literacy Task Force member Rick David, CPA, shared strategies for finding savings in day-to-day expenditures. Determining if your monthly expenditures can be reduced by switching providers for insurance, cable, phone and other services is a great place to start refining your monthly budget to increase savings toward an emergency fund.
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Often used interchangeably, financial literacy and financial capability address a separate set of concerns. As April brings a renewed sense of awareness with its Financial Literacy Month (FLM) initiatives, we explore the difference between knowledge and behavior, and what capability means for long-term financial health.
Michigan native and MICPA member Gerald (Jerry) Hepp, CPA, was recently recognized for a lifetime of volunteerism and contribution to the profession with a postmortem tribute. Jerry began his career with Plante & Moran in 1958 and spent 20 years as an expert volunteer in numerous board and committee roles within the AICPA.
Capturing nationwide attention, the trial of South Carolina attorney Alex Murdaugh, a once-revered member of a prominent legal family, has highlighted the significance of investigating the causes of behavior, especially when it comes to white-collar crime.
Earlier this month the 102nd Michigan Legislature convened bringing in 74 freshman legislators to the new session, none of whom are CPAs. Last week, legislative committee assignments were announced. The MICPA analyzes committee updates that stand to have the greatest impact on the profession, including the Regulatory Reform and Tax Policy in the House of Representatives and Regulatory Reform and Finance in the Senate.
Planning for retirement in the age of waning pensions and increasing life spans presents unique challenges for financial advisors and the clients that trust them to map their financial future. ProfessionFOCUS speaker Carlos Dias Jr., founder, president, Dias Wealth, shares his insights on the seven risks retirees should avoid.
The U.S. Senate Appropriations Committee released the fiscal year 2023 Omnibus Appropriations bill which includes $1.7 trillion allotted to various programs and defense funding. Despite some speculation that the bill would include tax extenders, none were present. There are, however, numerous items that are included which could impact CPAs and their clients. The MICPA has created a brief overview of the most relevant components, all of which are expected to pass as a part of the bill, in some form, by Friday, Dec. 23.
The holiday season is well underway, with celebrations and gift exchanges having already begun for many. Before you resort to stuffing cards with twenty-dollar bills or placing your orders for concert tickets in 2023, make sure the items you have in mind aren’t on this list of the top five last-minute gifts you should probably avoid.
The phrase ‘client experience’ is more than business trend buzz. According to TaxDome CEO Ilya Radzinsky creating a seamless client experience boost referrals and sets firms apart from their competition. Find out what five steps she says organizations can take to start building a better experience for the clients today.
For the first time since 2019, the MICPA will host its annual awards ceremony in person tomorrow at the Suburban Collection Showplace in Novi! Join us as we honor the best and brightest in the Michigan accounting profession and raise funds to support future accounting students through the Michigan Accounting Foundation scholarship program.