Before Martha Ramirez, CPA, Tax Senior at Moss Adams in Yakima, discovered the accounting profession, she was working as a program coordinator for Washington State University Extension Program, where she provided nutrition education to under-served youth and parents. Frustrated with not understanding enough about her own taxes, Martha decided to enroll in a Liberty Tax course and soon found that she enjoyed the process of preparing tax returns.

WSCPA welcomes CMG Financial and longtime friend of the association, Joel Cambern, as our mortgage Partner.

Savvy CPA firms are taking advantage of opportunities to expand their services and quickly deliver more value. International reporting, cannabis guidance, environmental management, and sports and entertainment taxation are among the areas CPAs are enjoying early success in servicing.

In 2017, the U.S. Court of Appeals for the Second Circuit issued a decision that significantly affected IRS procedures for the assessment of penalties against individuals and other taxpayers. The IRS is now required to possess contemporaneous evidence that a revenue agent’s supervisor approved a penalty before it was assessed. Because obtaining supervisory approval had not been standard operating procedure for revenue agents at the early stages of an audit, many penalties assessed by the IRS are potentially invalid.

We must work together to evolve the CPA credential to remain relevant for the next 100+ years. Fortunately, none of us are alone in this endeavor. Here are three tips on how investing can help us all build the firm of the future.