Line Items

New VSCPA council will address diversity, equity, inclusion

To follow up on our June 5, 2020, Statement on Racial Injustice, the VSCPA has established a new Diversity, Equity & Inclusion Advisory Council. The Council is tasked with advising the VSCPA Board of Directors and staff on programs and policies related to diversity, equity, inclusion and social justice; engaging with leaders, schools and other stakeholders to increase students of color entering the CPA profession; and identifying resources to educate members and their organizations about these issues. The Council is made up of a mix of members and nonmembers:

CHAIR Anne Hagen, CPA Masonic Home of Virginia, Richmond VICE CHAIR Krystal McCants, CPA YHB CPAs & Consultants, Fairfax Courtney Arrington, CPA Genworth, Richmond Marijia Bailey, CPA Marcum LLP, Washington, D.C. George Crowell, CPA, CITP Harris, Hardy & Johnstone, PC, Richmond Damon DeSue, CPA PRA Group Inc., Norfolk Kelci Dixon North Carolina A&T State University, Greensboro, N.C. Danish Qureshi, CPA

Kimberly Ellison-Taylor, CPA, CGMA, CISA Oracle, Reston EX OFFICIO MEMBER

Jake Greene, CPA Marcum LLP, Washington, D.C. Cassie Hartogs, CPA Dylan Hendrickson WellsColeman, Richmond Jennifer Lehman, CPA, CGMA Hantzmon Wiebel LLP, Charlottesville Wendy Lewis, CPA KPMG, McLean Darry Newbill, CPA Deloitte & Touche LLP, Richmond Carlos Otal, CPA Grant Thornton, Alexandria Vivian Paige, CPA, CGMA Christopher Newport University, Newport News Stephanie Peters, CAE VSCPA, Glen Allen Jim Phillips, CPA KPMG, Richmond RSM US LLP, McLean

BDO USA, LLP, McLean Henry Davis III, CPA Virginia Commonwealth Univerity, Richmond

The Council will have its first meeting on Sept. 22. More information on the Council’s activities will be posted in the VSCPA’s Diversity, Equity & Inclusion Resource Center at vscpa.com/diversity. Questions or feedback? Email us anytime at diversity@vscpa.com.

Find us on Instagram!

Quick tips, member profiles, links to articles … Find it all in the official VSCPA Instagram account: Instagram.com/VSCPA

LINE ITEMS

TICKER

$13.9 MILLION

The number of Americans who will receive interest payments from the U.S. Internal Revenue Service on their 2019 federal tax return refunds.

$18

The average interest amount being paid out to individual taxpayers.

110,000

The approximate number of Virginia small businesses receiving relief funding U.S. Small Business Administration (SBA) due to coronavirus.

16,100

The approximate number of Virginia small businesses identified in a list released by the SBA for receiving $150,00 or more.

$34 MILLION

Amount being directed by Virginia to clean energy projects like electrifying the state vehicle fleet and replacing all-diesel cargo equipment at the Port of Virginia.

97 PERCENT

The number of CPA financial planners who said they made changes to at least one of their clients’ financial plans as a result of COVID-19, according to an American Institute of CPAs (AICPA) survey.

67 PERCENT

The percentage of changes made to investment allocation, followed by spending decisions (59 percent) and tax strategy (43 percent).

‘Virginia Is For Lovers’… and safety

In July, the Commonwealth was the first state in the nation to adopt workplace safety standards to help protect Virginia workers from the spread of COVID-19. Among many regulations, the standards mandate appropriate personal protective equipment, sanitation, social distancing and more. “Keeping Virginians safe at work is not only a critical part of stopping the spread of this virus, it’s key to our economic recovery and it’s the right thing to do,” said Gov. Ralph Northam.

CPA firms and other companies who employ VSCPA members all want to know: How are you handling returning to work and workplace safety? How are you protecting your employees? Here are some places you can start:

READ: The VSCPA Coronavirus Resource Center at vscpa.com/coronavirus has a special section with resources just for reopening. We’ve included links to Virginia’s standards, the state’s ‘Forward Virginia’ plan to ease public health restrictions, our own Business Reopening Handbook, legal and HR considerations, guides, checklists and more.

WATCH: We have Facebook Live Town Halls you can watch anytime at facebook.com/vscpa covering a variety of reopening topics. The July 22 video with Elizabeth Rafferty, director of government affairs at Williams Mullen, discusses the standards. And the VSCPA YouTube Channel at youtube.com/vscpavideos has a conversation between Jennifer Rose from the Virginia Department of Labor and Industry and VSCPA Public Affairs Director Tim Barry.

CONNECT: Sign up for a virtual roundtable this fall to discuss any issues or challenges you’re having with your peers (vscpa.com/VSCPARoundtables), and you can always ask questions in the VSCPA Connect Online Community (connect.vscpa.com).

READ: If all the changes this year is taking its toll on your mental health and well-being or that of your staff, check out the special section on stress and mental health at vscpa.com/coronavirus for articles, podcast links and more. Do not neglect yourself as you navigate the new normal!

LINE ITEMS

VSCPA2025: Creating a culture of learning

In 2018, the VSCPA embarked on a bold plan to move the profession toward a successful, vibrant future, as embodied in our mission to empower our members to thrive. The VSCPA2025 strategic framework lays out four bold strategies centered on our aspiration to be the essential, strategic partner for CPAs, their profession and their communities. So, how are we doing? Here’s a check in on one of our bold strategies: Create a Culture of Learning.

The accounting profession changes rapidly, so it’s essential CPAs are continuously learning, developing and growing their skillsets. We are committed to infusing learning in all our activities to enhance CPAs’ leadership skills and technical competencies — as well as elevate CPAs’ ability to provide the highest value, influence and impact.

Here are a few ways were consistently providing learning opportunities:

It’s no surprise that the COVID-19 pandemic made us quickly pivot to delivering conferences and seminars virtually. All CPE courses and other learning will be delivered online through December (with a 20 percent discount), and registrants aren’t missing a beat. With thousands of courses and seminars and six virtual conferences planned this fall, CPAs can continue getting their CPE and developing their skills wherever they are. Visit vscpa.com/cpe to access the CPE Catalog. We’ve got free CPE too, with WOWbinars, Virtual Interchanges and roundtables scheduled throughout the year (find them at vscpa.com/freecpe).

When you CAN come back to in-person learning, we’re ready for you at the newly renovated VSCPA Learning & Innovation Center. You’ll find three new classrooms with an additional five new spaces for meetings, all fully equipped with in-person technologies and remote access to participate from anywhere. Every classroom and meeting room offers collaborative and/or traditional learning environment setups. The new lobby area has increased square footage and functionality and is now a fully collaborative space for fun activities, meal functions or workspace with seating for up to 60 people. The VSCPA’s headquarters is completely updated for today’s innovative work environment!

While you can learn from an expert speaker or accomplished thought leader, you can also learn from your peers. While working remote, most of your networking and peer-to-peer learning opportunities may be tabled. To keep you connected, we increased the number of virtual roundtables, and you get free CPE credit. Find them at vscpa.com/roundtables.

We’re partnering with several innovative companies to bring you hand-selected programs and exclusive content to take your leadership development and technical skills up a notch. Visit vscpa.com/partner discounts to find classroom trainings from Dale Carnegie, courses from Floricane and John Maxwell and much more.

We understand that learning isn’t just about CPE courses. It’s about everything we provide, including all our communications. This summer we debuted a brand-new Facebook Live Town Hall series, where we interview experts on issues you need to know now, such as workplace responses to the pandemic, programs like the Paycheck Protection Program and more. A new biweekly e-newsletter, The Account, provides breaking news and timely features to keep you in-the-know.

LINE ITEMS

A new internet domain, just for CPAs

If your firm is looking for a new way to increase its presence online, a .cpa domain name could be what you are looking for.

The American Institute of CPAs (AICPA) has opened registration for .cpa, a new, secure domain exclusively available to CPA firms. The AICPA was awarded the domain from the Internet Corporation for Assigned Names and Numbers (ICANN). The new domain can help firms:

• Secure data: Protect your firm’s data and clients’ personal information from phishing and other security threats with a harder-to-spoof online identity.

• Enhance client trust: Distinguish your firm as a trusted leader in a competitive field with a CPA-verified domain only available to accounting pros.

• Strengthen your brand: Take advantage of a shorter, more relevant URL that highlights your expertise and makes it easier for prospects to find you online.

Applications for the domain opened Sept. 1. Find everything you need and apply at cpa.com/dotcpa.

payx.me/vscpa-covid-19 877-534-4198

Paychex is proud to be the preferred provider of payroll services for the VSCPA.

© 2020 Paychex, Inc. All Rights Reserved. | 7/31/20

The Tools to Take Your Advisory Role to the Next Level

Enhance consultations with the right resources to help your clients regain their footing during the COVID-19 pandemic.

• Are they re-opening or re-evaluating how to operate their business? • Do they need guidance on the PPP loan forgiveness application? • Are new state regulations leaving them in need of a business continuity plan?

Paychex developed its COVID-19 Help Center to offer support and provides additional tools in the Accountant Knowledge Center (payx.me/akc)