TRENDING THIS WEEK:

  • IRS Announces Selective Extension of April Tax Filing and Payment Due Date to May 17 – look to SCACPA to stay informed. IRS Commissioner Charles Rettig is set to appear Thursday, March 18, before Rep. Pascrell’s House Ways and Means subcommittee to testify about the 2021 filing season. Watch SCACPA social media (Facebook, Twitter and LinkedIn) to keep you updated on all developments and new programs we will announce to keep you informed for your clients.
  • As BPP Filing is Streamlined, We are Achieving Clarity – But There’s Still Work to Do: A message from SCACPA Board Chair Ken Newhouse, CPA, CITP, CGMA, USTCP. Our advocacy efforts have made a concrete difference in resolving the decades-long frustrations with how the Business Personal Property Tax (BPP) is collected around the state. Learn more as Ken explains how some issues on this matter are now resolved, and with your help we can iron out what’s remaining.
  • At the State House, the Senate Finance Sales and Income Tax Subcommittee favorably approved two bills that the SCACPA Governmental Affairs Team is in favor of. One relates to income tax rates for pass-through trade and business income and “S” corporations at the entity level and the other removes the expiration date for tax credits for the purchase of geothermal machinery.
  • The Governmental Affairs Team held its quarterly meeting in February, and video conference talks took place with the Department of Employment and Workforce, the Board of Accountancy and the Department of Revenue. As part of their day, the team reviewed more than 100 bills up for consideration during this legislative session and came to a consensus as to whether the GA Team supports the bill, opposes the bill or holds a neutral stance. Watch the SCACPA website for progress on bills we are following that affect the profession. Remember, SCACPA is the only organization that protects and promotes the CPA credential in South Carolina.
  • Now that tax season is underway, are you familiar with your member benefit of SCACPA’s private online discussion portal, Connect? It’s easy to get started when you visit our new platform page for Connect. It tells you how to follow the steps to start growing your professional network today.
  • ATTENTION CPA CANDIDATES AND STUDENTS: SCACPA and Surgent CPA Review have partnered and combined resources to offer a FREE simulated CPA Exam section of your choice on Thursday, June 3 from 1-5 p.m. This Mock CPA Exam is open to SCACPA Student Members and CPA Candidates, and the deadline to register is Friday, May 28. For more details and to find the form to register, please check out SCACPA’s Student Membership page.
  • There’s only a few days left to take advantage of SCACPA’s $100 Refer-A-Friend program! When you share the excitement by referring a friend or peer to join SCACPA as a Fellow member, we will send you a check for $100. Our Refer-A-Friend offer is simple: All the candidate must do is enter your email in the “Referred By” field on our new member application when registering for Fellow status. Once we have processed their membership payment, we will send you a check for $100. Make sure your Refer-A-Friend knows they get immediate access to a 40-hour CPE bank that can be put to use starting with our Surgent On-Demand self-study options. Find out more about Refer-A-Friend here, offer expires March 31.
  • DO YOU HAVE A PLAN TO GET VACCINATED? Accounting professionals will be in South Carolina’s next round of Essential Worker phases. The state began Phase 1b of its COVID-19 vaccination plan on March 8. South Carolina is receiving approximately 140,000 doses per week and has 572 providers activated. Note: Phase 1c of Essential Workers includes “Accounting, Tax Preparation, Bookkeeping and Payroll Services.” The targeted rollout date for Phase 1c will begin around April 12. Stay safe!

Advocate

  • Task Force Continues its Work to Strengthen Statutes: For three hours during the BOA’s Special Called Meeting via video conference on Feb. 5, SCACPA Board Member and vice chair of the Governmental Affairs Team David Knoble, CPA, presented a draft of proposed changes to statutes based on the work of a volunteer task force. The presentation received great questions and feedback from Board members. With so many important changes to our current statutes on the horizon, here is a synopsis of a few of the most impactful changes that are proposed.
  • The Board of Accountancy’s next video conference meeting is scheduled for Tuesday, April 27. Interested in requesting a seat as part of the general public? Begin the process to receive the telephone or internet logon information of all upcoming meetings by emailing contact.accountancy@llr.sc.gov. For more details on attending BOA video conferences and tips for making the most of the Webex platform that carries the meetings, continue reading here.
  • Make a Commitment to Making a Difference: SCACPA Has Opened Nominations for Board of Directors and Chapter Leadership for 2021-2022. In an effort to generate as much awareness and interest as early possible, SCACPA is announcing that we are accepting nominations for multiple seats on the SCACPA Board and for Chapter Leadership for our 2021-22 membership year. We look forward to receiving your nominations of others – or yourself.
  • Your legislators are in session now, but staying in touch with them is something to consider year-round. Here are tips on how to start a conversation. If you’re unsure of who represents you, check out the Find Your Legislators search engine.
  • The first session of the 124th General Assembly has passed its halfway point, and our weekly editions of the “View From the Dome” legislative updates will keep you informed. Tune in to the SCACPA Legislative Blog every Friday afternoon for your weekly “View From the Dome” legislative updates.

Educate

  • Looking for the latest guidance on PPP Loan Forgiveness? Paychex – a gold affinity partner of payroll, retirement and HR services for the South Carolina Society of CPAs – presents these updates about their PPP Loan Forgiveness Estimator. Paychex will also offer a free webinar on March 22.
  • Tax season unfortunately also means we anticipate a spike in incidents of fraud. The South Carolina Department of Employment and Workforce offers several options to report identity theft and suspected cases of unemployment benefit fraud. Read about the tools offered to report incidents on the DEW’s refreshed website.
  • A&A video update – Quality Management Proposal (Part 3 of 3). The AICPA has issued three new proposals related to quality management. Join Melisa Galasso for the third of three videos that dive into the details of each proposal. Have you missed any recent editions of the Galasso Learning Solutions video blogs? Check out the latest news on the A&A Page of the SCACPA blog.
  • The Federal Tax Update with Lynn Nichols is the member benefit you need during tax season! Catch up every week on SCACPA’s Tax Blog with a video from SCACPA’s advisor and speaker on federal tax topics, Lynn Nichols.
  • If you have ideas about how we can make CPE more valuable with specific speakers or topics, please let us know with this form. Stay tuned to SCACPA social media, our blog and scacpa.org/events as we deliver “just-in-time” learning on breaking news topics.

Communications

  • Interested in contributing news or a story in your area of expertise for our next issue of the quarterly South Carolina CPA Report magazine? Contact SCACPA Content Strategist Gregory Hardy at ghardy@scacpa.org. Catch up with the latest news from the Association and the profession, and you can get see the PDF of our latest issue here.
  • SCACPA Social Media is important for you to get the most out of membership! Don’t forget to follow us on social media (Facebook, Twitter, LinkedIn and YouTube) for real-time updates. We steadily share breaking news on social media, so please give us a Like and Follow!

Connect

  • SCACPA is proud to promote the “Accountable” podcast for CFOs, from David Peters, CPA, MST, who is the Association’s advisor and speaker on B&I topics. You can now download it as an audio podcast or watch the interviews on YouTube. Look for the latest installments on SCACPA’s B&I Blog Page.
  • Did you know that with SCACPA Connect you can review and respond to items in a daily digest email? Pick the time of day you would like to receive a notification that summarizes posts that occurred in the community. You can modify your notification settings to immediate, daily, weekly. However, we ask that you allow the “daily digest” emails at first to familiarize yourself, as well as facilitate and generate some timely discussion.

Grow

  • VOLUNTEER OPPORTUNITY: SCACPA is in need of a member to volunteer as an Educational Fund Board Member to fill a vacancy as of July 1. Interested members should fill out the Volunteer Interest form at www.scacpa.org/volunteer. Submissions for Board approval are due May 1. This is a five-year term from July 1, 2021 through June 30, 2026. Meetings are held once per quarter via video conference, and scholarship winners are selected at the July meeting. Last year, the EdFund Trustees awarded $64,500 to 43 exceptional Student Members who plan to pursue careers in accounting.
  • SCACPA wants to make sure as many accounting students as possible can find financial help along the way through college. That’s why the application period has opened for a wide variety of SCACPA scholarships. These awards are intended for juniors, seniors and graduate students. Scholarship amounts usually range from $500 to $2,500. Don’t delay, start on the path today!SCACPA UPS halfpage_vC

Partner with SCACPA for Success

  • For businesses looking to grow, we’re letting them know that CPAs are an ideal target market. The new Partnership Playbook explains all the reasons why partnering with SCACPA is a win-win.

Member Benefit Spotlight

  • Stay stocked and organized all year long with your Office Depot Savings Program. Keep business going in a clean, comfortable and organized space stocked with everything you need to do your best work. Visit officediscounts.org/scacpa to shop online. Have questions about your Office Depot Savings Program? Call 1-800-MEMBERS (636-2377), Mon.-Fri., 8 a.m. -5 p.m. or email enroll@1800members.com.
  • SCACPA has introduced many new benefits including group health insurance, auto and home insurance, long-term care and pet health insurance. For details, visit scacpa.org/insurance.
  • Maximize your savings on UPS shipping with SCACPA! Member discounts have increased to 50% on Domestic Next Day/Deferred and 30% on Ground Commercial/Residential. Find out how to open an account here.