Banking With Cannabis: Year-End Updates

Since its inception, be it medicinal or recreational, legal cannabis retail has experienced something of a cash problem. Due to the risks associated with doing business with the legal marijuana industry, many professional services have been difficult to procure and this includes business banking. Following cannabis’ best year of sales, find out how the banking landscape for retailers in Michigan is evolving, what opportunities are arising, and what might be in store in the year ahead as lawmakers continue to debate on the federal level.

Read More


Cannabis: The Most Promising Industry for Small Accounting Practices to Grow Quickly

Is Cannabis a Viable Strategy for Your Practice? While the majority of cannabis companies generate more than $1 million in revenue, the market continues to be underserved by accounting professionals. According to DOPE CFO, nationally recognized for their cannabis accounting training, it for this reason that the cannabis industry presents a huge opportunity for small accounting practices looking to grow quickly. Find out how they say small firms can get the training they need to enter into this groundbreaking market.

Read More


The Dependable R&D Tax Credit Done Right

The Research and Development (R&D) tax credit was established to provide incentives for U.S. companies to hire U.S. creative talent and, in fact, can save companies hundreds of thousands of dollars in tax liability each year. Significant as those savings can be, many companies and their financial advisors avoid claiming the R&D credit due to its complexity and time-intensive nature, among other things. To weigh the pros and cons, the MICPA recently sat down with Apex Advisors’ Dave P. Porada, Esq., vice president of Business Development and Annika Vanghagen, JD, LL.M., head of Tax Controversy and discussed the history, misconceptions and opportunities inherent to the R&D tax credit

Read More

211207 PAC Stool - Header Image-01 (1)

Change Wasn’t Built on a One-Legged Stool

Recent coverage of MICPA efforts to advocate on behalf of the profession in Michigan describe some of the work our bi-partisan Political Action Committee (PAC) performs, but how much do you know about the PAC itself and how it works? Find out how PAC-ing up for the profession allows MICPA members to work directly with legislators to avoid unintended consequences associated with policies that have direct impacts on you and your clients’ interests.

Read More


2021 Top 5 Very Cool Gifts for CPAs

The holiday season is well underway, but plenty of time remains to find that perfect gift for the CPA(s) in your life, whether its family, a friend, your colleagues or…you. To help you narrow the search, the MICPA has once again scoured the web in search of the coolest gifts ideas for accountants in 2021!

Read More


When An Audit Doesn’t Go Your Way

Not every IRS audit is going to result favorably, but your clients have options even after liability is assigned. Find out what those options are and how they work in this new white paper from Ayar Law. For more on this topic, don’t miss their presentation, Respectfully Disputing Tax Liability at the 2021 MICPA Learning Showcase presenter on Dec. 9, 2021.

Read More


Infrastructure Bill Brings More Uncertainty to Cryptocurrency

The Infrastructure Investment and Jobs Act, colloquially referred to as the infrastructure bill, was signed into last week, containing a number of tax code provisions. Among the included measures are considerations for the Employee Retention Credit (ERC) and cryptocurrency financial reporting, both of which are generating some level of uncertainty among taxpayers.

Read More


FASB Improves Transparency Around Government Grants

The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) expected to increase transparency in financial reporting by requiring business entities to disclose, in notes to their financial statements, information about certain types of government assistance they receive. Examples of such government assistance include cash grants and grants of other assets.

Read More


The Future of Work: No Take Backs

The current job market continues to fundamentally shift the dynamic of power between workers and employers in the professional realm. As offers of larger pay and sign on bonuses continue to increase, the MICPA weighs the importance of money against the value of flexibility.

Read More


Help with Assessing the Pros and Cons of Term Life Insurance

Life insurance is an important consideration for people of all ages with many subscribers adjusting their policy over time to account for lifestyle changes. Term life insurance is evermore popular, especially among younger professionals, but when does this type of coverage make the most sense? The Paul Goebel Group breaks down the pros and cons associated with different Term life insurance options.

Read More