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| October 12, 2007 Issue 15 | |||||
Welcome %%fullname%%, MACPA Member Number %%userid_%% |
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| MACPA Educator Members: Remember to customize your MACPA web site homepage to obtain articles, upcoming CPE events and news specifically related to your interest areas in the Member Profile Section of the MACPA web site. By updating your information, you will receive an individualized homepage each time you logon to the MACPA web site, http://www.michcpa.org. |
For More Resources: Logon to http://www.michcpa.org |
2008 MAF Scholarships –
Help Simplify Your Students’ Fifth Year of School
The Michigan Accountancy Foundation is looking for top-notch accounting
students to honor with a Fifth/Graduate Year Scholarship. We need your
help. Get the word out to all of your upper-level students about this
scholarship opportunity. The Foundation will be mailing out the applications
at the beginning of November. If your students have any questions or would
like more information please direct them to the
MACPA
web site. They can view the application and criteria from the previous
year. The deadline for submissions is January 31, 2008. If you have any
questions please contact David Johnson at 248.267.3700 or
djohnson@michcpa.org.
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The First Ever Michigan Tax
Conference - Reserve Your Seat Today
You do not want to miss the 1st Annual Michigan Tax Conference. The MACPA
has partnered with the State Bar Association's Taxation Section and the Michigan
Department of Treasury to bring you latest on the tax issues that affect you.
Nationally recognized speakers will share their expertise on all aspects of the
Michigan Business Tax, the new Tax on Services and give you an update on the
economics of business in Michigan. Reserve your seat today by registering
online
or by contacting the MACPA CPE department at 248.267.3700.
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Inform Your Students About
Volunteer Opportunities With the MACPA
Volunteer work looks great on any student’s resume. Let your students know
about the invaluable volunteer opportunities available with the MACPA.
The MACPA Accounting Blitzes, in partnership with Junior Achievement, are a
great way for students to spread their accounting knowledge, while honing their
speaking skills. Accounting students will travel to local elementary schools and
teach youngsters business basics. To learn more about the Accounting Blitz visit
the MACPA
web site.
The Accounting Aid Society’s Tax Assistance Program is another great volunteer
opportunity for students. They can put their tax knowledge to the test by
helping to prepare tax returns for low income individuals in the Metro Detroit
area. The MACPA is partnering with the Accounting Aid Society for three
Saturdays, February 2, 9, and 16, 2008, at Focus: HOPE in Detroit. Training will
be provided for all volunteers by the MACPA and Accounting Aid Society. For more
information please visit the
MACPA web
site.
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New Sales Tax on Services
Key to State Budget Deal
Initial interpretation of a new tax on services, passed by the State
Legislature in the early morning hours on Monday, October 1, indicates that
CPA services such as tax preparation, accounting and auditing will not
be subject to the new service tax. However, consulting services and
investment advice services are subject to the new tax, both of which may
directly impact the CPA profession. Effective December 1, 2007, the new
service tax will generate an estimated $613.8 million in the portion of
fiscal year (FY) 2008 it will be collected in. Anticipated revenue balloons
to $751 million for the full FY 2009 – clearly a significant portion of the
revenue enhancements contained in the late-night deal. Coupled with an
income tax hike and government reforms, the service tax was part of a
three-fold deal to avert a government shutdown. This
article
provides details on the new tax measure, including a list of taxable
services.
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