CalCPA Daily Clips
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CalCPA Daily Clips

CalCPA Daily Clips

Jan. 14, 2022

CalCPA NEWS
Stand Out & Lead: State Committee Application Period Open
Whatever your interests and expertise — from personal financial planning to government relations to accounting and auditing — we have a matching state committee. The application period to serve in 2022–23 is open through Jan. 28.
CalCPA
https://www.calcpa.org/members/committees-sections

BUSINESS
How to address an employee’s disruptive behavior
To change a negative employee’s behavior, the first step is to recognize and eliminate preconceptions so you truly listen to what is being said. It is also important to ensure the company culture is not toxic.
Human Resources Director
https://www.hcamag.com/us/specialization/employee-engagement/how-to-deal-with-difficult-employees-according-to-the-experts/321996
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Companies tap debt markets while interest rates remain low
Companies have been rushing to issue debt while interest rates are still low, raising almost $96 billion in 2022 through Wednesday, Refinitiv data shows. Companies want to access funding before the Federal Reserve increases interest rates.
CNN
https://www.cnn.com/2022/01/13/investing/premarket-stocks-trading/index.html
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Many big company pensions are close to being fully funded
The 100 biggest public company pensions were almost fully funded at the end of last year, with the funding level increasing to 99.6% from 90.3% at the close of 2020, Milliman data shows. Pensions of large companies in the Fortune 1000 reached a 96% funding level last year, according to Willis Towers Watson, compared with 88% in 2020.
CNBC
https://www.cnbc.com/2022/01/13/big-pensions-are-healthiest-theyve-been-since-2008-financial-crisis.html
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Survey finds small businesses moving toward crypto
Nearly 75% of small-business owners say accepting nontraditional payment is crucial to growth, according to a survey by Visa. Over 30% of respondents in Brazil, Hong Kong, Singapore and the UAE, along with 19% in the US, plan to accept cryptocurrency payments in coming months.
Reuters
https://www.reuters.com/technology/quarter-small-businesses-across-nine-countries-plan-offer-crypto-payments-visa-2022-01-12/
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The Top 10 HR Compliance Issues of 2022
From safety to tech, taxes and marijuana, regulatory compliance experts developed a list of the top issues business owners and managers should keep up on as they run their businesses and manage the impacts of the COVID-19 pandemic and plan for the year ahead
CPA Practice Advisor
https://www.cpapracticeadvisor.com/payroll/news/21253077/the-top-10-hr-compliance-issues-of-2022

PERSONAL FINANCE
Don’t Forget: New RMD Rules For IRAs In 2022
You might need to take a little extra time in 2022 to plan your required minimum distributions (RMDs) from IRAs, 401(k)s, and other qualified retirement plans.
Forbes
https://www.forbes.com/sites/bobcarlson/2022/01/14/dont-forget-new-rmd-rules-for-iras-in-2022/?sh=1e5a571d5f59

PROFESSION
Keeping client data secure: How’s your cybersecurity immunity?
There are five things tax practitioners can do to deter threats to their practices and clients from spear-phishing, “smishing” and other scams and recover if they are attacked.
The Tax Adviser
https://www.thetaxadviser.com/issues/2021/dec/client-data-cybersecurity.html
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Does client feedback hold the key to employee retention?
Responses from clients can help firms balance clients’ needs with those of employees.
Journal of Accountancy
https://www.journalofaccountancy.com/news/2022/jan/client-feedback-employee-retention.html

TAX
What to know about the 2021 credit for child care costs
Changes made by the American Rescue Plan Act mean taxpayers might be entitled to a larger credit for child care expenses in 2021. In addition, a broader range of people might qualify for the credit.
Kiplinger
https://www.kiplinger.com/taxes/602508/child-care-tax-credit-expanded-for-2021
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If the IRS is accepting tax returns Jan. 24, does that mean you’ll get your refund early?
While people file early to get their refund money more quickly, it’s important to note why some tax refund money won’t arrive in just a few weeks.
USAToday
https://www.usatoday.com/story/money/taxes/2022/01/13/taxes-2022-when-can-you-expect-your-refund/6510823001/
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Deducting State and Local Taxes for 2021 and 2022
With tax season 2022 about to kick into full swing, here are some need-to-know facts and rules associated with deducting state and local taxes.
AccountingWeb
https://www.accountingweb.com/tax/individuals/deducting-state-and-local-taxes-for-2021-and-2022

TECH
This Windows Server update is causing a bunch of problems
Microsoft broke key Windows Server features with its latest security update
TechRadar
https://www.techradar.com/news/this-windows-server-update-is-causing-a-bunch-of-problems

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Each weekday morning, CalCPA reviews major media sources for top headlines and links to news and information vital to CPAs and the businesses and clients they serve.

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CalCPA is the largest state accounting society in the U.S. We are a community of CPAs leading, connecting and empowering the profession for success in CA.

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