How the suspension of personal exemptions affects health-care-related provisions | The Medicare Part D coverage gap is ending | Debunking myths surrounding HSAs
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October 19, 2018
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How the suspension of personal exemptions affects health-care-related provisions
The Internal Revenue Service has issued guidance explaining that although the law known as the Tax Cuts and Jobs Act has eliminated the personal exemption deduction, taxpayers still qualify for the Sec. 36B premium tax credit and have to pay the Sec. 5000A shared-responsibility payment.
Journal of Accountancy online (10/18) 
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Would you like to increase productivity by 25%? Or 50%? Or more?
In a recent customer survey of CPA firms, more than half responded they've seen 26-50% or higher increase in productivity at their firm since using Thomson Reuters Checkpoint. Start increasing your firm's productivity with new tax return compliance packages now>
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Financial Focus
The Medicare Part D coverage gap is ending
With Part D changes on the horizon, this is a good time for CPAs to review clients' Medicare coverage elections.
CPA Insider (10/15) 
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Debunking myths surrounding HSAs
Misconceptions surrounding health savings accounts might affect people's use of these vehicles. Here is a look at myths related to taxes, Social Security and other topics.
U.S. News & World Report (10/17) 
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Why some employees don't use retirement plans
A survey from Capital One finds many employees with access to an employer-sponsored retirement plan don't participate because they think they don't make enough to contribute. However, educating individuals about such plans can help.
PlanAdviser online (10/17) 
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Earn 20% more profit from your practice
Firms across the country are achieving up to 20% more profit - and they didn't even have to take on new clients. What's their secret? They're offering Client Accounting Services (CAS) using Accounting Power CAS.
Attend our free CAS webinar.
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Career Development
Presenting to the CEO? Show the problem you want to solve
Presentations to the CEO or other executives will go awry if they don't clearly identify a problem and how a solution will improve the bottom line. Decision-makers will be more engaged if you leave ample time for questions and have facts ready to support your answers.
Harvard Business Review online (tiered subscription model) (10/17) 
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More than 800 finance, accounting and compliance professionals took part in our survey about financial reporting in today's complex environment. Get this report to learn the greatest challenges to the reporting process, how much time is spent on managing data, and more. Free analysis>
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Leadership
How to improve the employee-review process
Performance-calibration sessions, in which managers meet and discuss their evaluations of their teams, should be an essential component of the employee-review process. These sessions can eliminate bias and ensure rewards and promotions are distributed fairly.
Inc. online (10/18) 
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Explore AICPA webcasts.
Effective Board Policies Produce Effective Nonprofit Boards (10/24), Tax Reform Update - Individuals & Sole Proprietors (10/26), Tax Reform: Section 199A (10/31), Single Audit Fundamentals (11/1), Blockchain Implications for Tax (11/8), 2018 Yellow Book (11/13). See complete calendar.
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Technology
CHOOSE carefully with this Excel function
CHOOSE is one of many commands that help users find data in a spreadsheet. But it might not always be the best choice.
Financial Management (10/16) 
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A critical way to expand your role with clients.
Though you may not spend much time on forensic or valuation service work, you could be asked by clients to provide litigation support services. The AICPA Forensic and Valuation Services Section has resources you need to deliver. It’s just one more way to strengthen your role as trusted adviser.
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Advisory Services
Technically, your planning practice could be better
Cutting through the noise and knowing which technology is best for your planning practice can be complicated. Choosing the right technology for your practice carries added value and efficiency. Here are ways to get started.
AICPA Insights (10/16) 
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Market Update
2019 tech IPOs could bring valuations topping $100B
Uber, Lyft and Palantir are among a growing number of high-profile technology companies on track for initial public offerings next year. Deals in planning stages or in the IPO pipeline indicate valuations could exceed $100 billion.
CNBC (10/18),  The Wall Street Journal (tiered subscription model) (10/18) 
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Chinese growth hits lowest rate since financial crisis
Chinese economic growth declined to 6.5% in the third quarter from 6.7% in Q2, as an intensifying trade conflict with the US began to affect Chinese companies. The Q3 growth rate is the lowest China has experienced since the financial crisis.
South China Morning Post (Hong Kong) (10/19),  BloombergQuint (India) (10/19) 
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AICPA News
The future is freelance. Get ready.
Within 10 years, 50% of the US workforce -- including finance and accounting professionals -- will be freelancers. In this free webcast on Oct. 24 at 2 p.m. ET, you'll learn from experts how best embrace the future of work. No CPE offered.
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Build your leadership on meaningful data
These days, there's an overabundance of data. But truly valuable leaders make sense of all the "noise." They take raw information and transform it into meaningful decisions. Become that type of leader. Complete the AICPA's Data Analytics Learning Program to expand your existing skills and meet business' growing demands.
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Clarity is the antidote to anxiety, and therefore clarity is the preoccupation of the effective leader. If you do nothing else as a leader, be clear.
Marcus Buckingham,
business consultant and author
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About the AICPA
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, not-for-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers credentials for a number of specialized areas. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.
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