CalCPA Daily Clips
Published in

CalCPA Daily Clips

CalCPA Daily Clips

Jan. 13, 2022

BUSINESS
The case for a hybrid work approach
Full-time remote work isn’t necessarily the best strategy for all companies. Here are some potential benefits to productivity and collaboration from spending at least a few days a week in the office.
Entrepreneur
https://www.entrepreneur.com/article/403238
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Your boss wants you back in the office despite COVID. Here’s why
Bosses are recommitting to their company offices even as Omicron is extending the remote working trend that has kept many of their workers laboring at home since COVID-19 erupted in early 2020.
Los Angeles Times
https://www.latimes.com/business/story/2022-01-12/back-to-office-despite-covid-omicron
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Hiring for crypto and blockchain jobs is exploding
On the hunt for employees who specialize in crypto or blockchain? So is everyone else.
Fortune
https://fortune.com/2022/01/13/hiring-for-crypto-and-blockchain-jobs-is-exploding/
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Corporate Governance Slips Amid Pandemic Fatigue
A survey of chief audit executives finds governance improvements seen in 2020 slowed or stagnated last year across a number of areas.
CFO
https://www.cfo.com/governance/2022/01/u-s-governance-slips-amid-pandemic-fatigue/

DIVERSITY, EQUITY & INCLUSION
Profession intensifies diversity efforts with CAQ initiative
A strategic initiative launched by the Center for Audit Quality aims to help students from underrepresented backgrounds understand the benefits of a career in accounting and to highlight the profession’s diversity, equity and inclusion efforts.
Journal of Accountancy
https://www.journalofaccountancy.com/news/2022/jan/center-audit-quality-diversity-initiative.html

PERSONAL FINANCE
How inflation could reshape financial plans
It might be time to rethink traditional ideas about portfolio allocation, given high inflation and the likelihood of interest-rate increases in the near future. One strategy involves segmenting a portfolio into three parts, with the long-term portion weighted toward stocks.
Acorns Grow
https://grow.acorns.com/investing-strategy-in-retirement-given-inflation-interest-rates/

POLITICS & POLICY
Beware of Scams as New Tax Season Begins
Scammers often prey on taxpayers by impersonating IRS or FTB employees. The most common fraud-related complaints FTB sees tend to involve a taxpayer receiving a phone call, letter or email asking for their personal information to either release their refund or process their tax return.
FTB
https://www.ftb.ca.gov/about-ftb/newsroom/news-releases/2022-02-beware-of-scams-as-new-tax-season-begins.html

PROFESSION
Optimize Your Capacity with Process Documentation
Strategies such as automation and outsourcing can free up your time, but having process documentation in place is a crucial first step.
AccountingWeb
https://www.accountingweb.com/practice/practice-excellence/optimize-your-capacity-with-process-documentation

TAX
Taxpayer Advocate warns of tax refund delays this season
National Taxpayer Advocate Erin Collins expressed deep concerns Wednesday about the upcoming tax filing season in her annual report to Congress on the 2021 filing season.
AccountingToday
https://www.accountingtoday.com/news/taxpayer-advocate-warns-of-tax-refund-delays-this-season
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IRS adds more guidance on CTC payments
The IRS has updated the information on its frequently asked questions page for the Child Tax Credit and Advance Child Tax Credit payments to help families and their tax preparers properly claim the credit when they file their 2021 tax returns.
AccountingToday
https://www.accountingtoday.com/news/irs-adds-more-guidance-on-child-tax-credit-payments
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The IRS will ask every taxpayer about crypto transactions this tax season
Using cryptocurrencies has federal income tax implications. Here’s what you need to know at 2021 tax return time if you made crypto transactions last year.
Marketwatch
https://www.marketwatch.com/story/the-irs-will-ask-every-taxpayer-about-crypto-transactions-this-tax-season-heres-how-to-report-them-11642021045?mod=flipboard_pf

TECH
Power Query, LAMBDA function and why Excel is still relevant today
What’s the most common mistake by accountants using Excel? Should Excel be replaced by other software? And what’s the new LAMBDA function?
FM
https://www.fm-magazine.com/podcast/excel-tips-power-query-lambda-function.html

OPINION
The SEC’s concern about unicorns misses the point
The SEC is worried about a lack of oversight in how large, private companies raise capital. To be clear, pushing for more transparency is simply an effort to correct the unintended consequences from the passage of the Sarbanes-Oxley Act in 2002. Indeed, investing in these firms has become so easily accessible, and private markets so deep and liquid, that there is little incentive for startups to ever go public, hurting small investors while big institutions reap the rewards.
AccountingToday
https://www.accountingtoday.com/articles/the-secs-concern-about-unicorns-misses-the-point

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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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