NCCPAP Shares a President’s Message From Frank Sands, CPA

NCCPAP’s new President, Frank Sands, CPA, releases his first President’s Message, covering challenges that CPAs are facing and how they will affect the NCCPAP Members’ practices.

In the letter, Frank says, “The Inflation Reduction Act (IRA) and the new Statements on Standards for Tax Services are just a couple of examples of challenges we face. The current hot topic in the accounting profession is Client Advisory Services (CAS). The talk is that this is new, but I am not so sure. It seems to be an expansion of a very old service called ‘write up’. This service was changed with the advent of Clarified Preparation, Compilation and Review Standards. Now we have Advisory Services which are a combination of helping clients with their bookkeeping and providing analytics and other professional advice. In addition, we need to add the new Written Information Security Plan (WISP) to this mix.”

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NCCPAP Releases November 2022 Tax Update

NCCPAP has released its September 2022 Tax Update. Highlighted topics of this month’s report include the Information Return Intake System (IRIS) portal and important updates regarding Transmitter Codes and access to the Filing Information Returns Electronically (FIRE) system.

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Fairman Group Reviews IRS Annual Inflation Adjustments

The IRS recently announced annual inflation adjustments to several tax provisions for tax year 2023. These changes are applicable to returns that will be filed in year 2024. It is important to know how changes in the tax rates and taxable income thresholds affect your personal situation. The most notable changes are listed below for single and married filing jointly filers and estates and trusts, in comparison to tax year 2022.

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Congratulations to NCCPAP’s Steve Mankowski for Being Recognized in Accounting Today’s Top 100

Congratulations to Stephen Mankowski, CPA, CGMA, NCCPAP’s Tax Co-Chair, for being recognized by Accounting Today in its popular annual industry publication: Top 100 Most Influential People in Accounting—for the fourth time! Steve was selected by the publication for being “a crucial conduit between small tax and accounting practitioners and the federal government, bringing the concerns of the members of the National Conference of CPA Practitioners to the IRS and Congress, and bringing back important intelligence on tax laws, regulations and the legislative environment.”

You can view the full list, here.

Experience Experitec’s Reliability Solutions With Their Try-Before-You-Buy Program

Regardless of where you are in your reliability initiatives, you are not alone. Experitec is ready to accept the challenge to maximize the return on your Predictive Maintenance and Reliability Program…and the first step is on them! First, you pick the 5-10 most costly, problematic, or operationally important pieces of equipment in your facility. Next, an Experitec Certified Maintenance and Reliability Professional will come to your plant and conduct a full-scale assessment of those assets utilizing the latest PdM technology in advanced vibration spectrum and waveform analysis. After that, Experitec will provide a report of findings, potential root causes, and recommendations to increase your assets’ reliability and operating lifespan. You and your team will be given a customized roadmap to implement a program and options to get started.

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Experitec Shares Emergency Response Customer Stories

Experitec’s Emergency Response technicians possess not only a great amount of expertise, but in most cases a long history of familiarity with your applications. Read their customer stories to learn about their approach to Emergency Response and how it has benefitted our customers.

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The Art and Science of Creating Great Videos

In today’s competitive landscape, there’s no better way to get your message across, memorably, than with video content. According to recent statistics, 84% of people say they have purchased products and services after watching a brand’s video. Over the past 5 years, we at Markitects have been working diligently with our clients to incorporate video into their marketing toolboxes—with great success. Let’s explore the art and science behind making a great video, tapping into the brain’s left (language and speech) and right (attention and problem-solving) hemispheres no matter which is dominant for you.

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Fairman Group Discusses Tax Planning Opportunities Related to the Inflation Reduction Act

With the passing of the Inflation Reduction Act of 2022, there are some possible tax planning opportunities relating to Green Energy Credits. The majority of the spending in the Act is for tax credits encouraging renewable energy and reducing emissions. This includes an expansion of energy credits available to individual taxpayers: however, one source of funding for the Act that will affect individual taxpayers is the stated goal of increasing Internal Revenue Service audit rates. This has raised concerns of increased audit rates for individuals.

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