Two of our top-five Member News stories in 2022 provided tax updates and other info for CPA practitioners and their clients (Getty Images/courtneyk)
Tax-related topics are a perennial favourite with our members and 2022 was no exception. In fact, two of the top-five stories published in our monthly Member News newsletter this year were related to the subject.
Other list-leaders included our update on anti-money laundering rules, as well as tips on how to ensure a smooth succession and improve your tech skills.
In case you missed them, here are the five Member News stories that resonated the most with newsletter subscribers. (Hint: here’s how you can sign up!)
1) Are you up to date on the latest tax changes? (February)
Heading up our SMP-focused issue, this story offered the latest must-knows on everything from electronic communications with the CRA to climate action expenses. With pandemic-related topics still top of mind, the story also included details on claiming home office expenses and the tax treatment of COVID-19 benefit amounts. Other leading items in the issue included our overview of the new compilation engagement standard CSRS 4200 as well as a Q+A with FCPA Bruce Ball, CPA Canada’s vice-president of taxation, on why Ottawa should carefully consider any new tax changes. And, as always, CPA Canada’s tax news page was frequently visited by members.
2) Ensure a smooth exit when considering your next career move (June)
Whether you’re changing roles in an organization or preparing to leave altogether, it’s always important to ensure the transition is as seamless as possible. In this popular article, which was the lead story in our succession planning issue, we looked at everything from timing your exit to communicating your intentions to staff. Other much-read resources in the issue’s line-up included our tips on What to look for when buying or selling an accounting practice and Retirement savings strategies for the CPA business owner, as well as our guide on what not-for-profit (NFP) directors should ask about CEO succession.
3) What to do when your tax client disagrees with the CRA (September)
Once again, tax was tops in our September issue, with our story on dealing with income tax objections for individuals drawing the highest number of readers. The story examined typical cases that would give rise to an objection, along with details on the objection period and best practices. (It was also linked to companion articles on the CRA’s taxpayer relief program and when to call in a lawyer during the appeals process.) In the same issue, our story on getting ready for the new quality management standard CSQM1 was also a favourite, as was the CPA Canada webinar on developing a system of quality management.
4) New AML measures that CPAs need to keep on their radar (May)
In view of the ongoing fight against money laundering, CPAs need to be constantly on the alert for new AML rules and regulations. And in this lead story from our May issue, we outlined the latest measures from the 2022 federal budget, including the announcement regarding a publicly searchable beneficial ownership registry. The story led the popularity rankings for the issue, followed by CPA Canada’s anti-money laundering and terrorist financing webinar and our overview of what accountants need to know about CPA Canada’s 2022 AML guide. Many CPAs were also drawn to our story on why they need to watch out for sanctions evasion after Russia’s invasion of Ukraine prompted the Canadian government to issue several of them.
5) How tech-savvy do you need to be? (January)
One of the central themes of the Competency Map 2.0 is the need for CPAs to possess adequate tech skills to embrace an increasingly digital world. And this was also the theme of the lead article in our January issue. In the story, we offer insights from experts on how much CPAs need to know about technology, as well as tips on how accountants can improve their tech IQ. The January edition also highlighted the importance of having good data to inform decisions, as well as how to find the true value of intangible assets. And in another often-downloaded CPA Canada resource, experts outlined the business case for digital transformation.
NB: Information included in the articles was accurate at the time of publication and may have changed.
STAY UP TO DATE ON TAX, TECH AND MORE
To connect with the latest in tax, make sure to check out CPA Canada’s tax blog—you can subscribe for updates by checking Tax Blog under My Subscriptions in your profile.
And be sure to check out the new Competency Map 2.0, as well as our tech and AML resources.