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2021 Social Security wage base announced By Sally P. Schreiber, J.D. October 14, 2020 The Social Security Administration (SSA) announced that the maximum amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax will increase to $142,800 in 2021 from $137,700 in 2020. The OASDI tax rate is 6.2%, so an … Read more
INSURANCE AND CYBERSECURITY: THE BAD GUYS ARE HERE Our previous blog explored cybersecurity threats facing banks and capital markets firms—and now I’d like to look at insurers. In our previous insurance industry report about cyber risk we noted a bit of overconfidence in executives’ responses to our survey. For example, about 80 percent of insurers … Read more
Cannabis and CPAs: The business opportunities and risks Hosted by Neil Amato September 21, 2020 Cannabis for medicinal or recreational use is a fast-growing business, and the advisory opportunities for accountants in the industry are also growing. Along with those opportunities are emerging issues on the regulatory and risk fronts. Ron Seigneur, CPA/ABV, the managing … Read more
2020 tax software survey: Shares of respondents and product and company information By Paul Bonner September 1, 2020 In this year’s tax software survey by the Journal of Accountancy and The Tax Adviser, 3,210 CPAs assessed the software they used to prepare 2019 tax returns for a fee. The survey was conducted June 1–12, 2020. … Read more
CAMICO is pleased to announce its new Live Chat feature on our company website, www.camico.com. Policyholders and prospective new policyholders can now enjoy the benefit of our superb customer service online via Live Chat. Live Chat enables any visitor to CAMICO’s website to ask a quick question to a customer service representative in real-time, whether … Read more
Cybersecurity: An urgent priority for CPA firms By Byron Shinn, CPA, Sarasota, Fla., and John Jorgensen, Sarasota, Fla. April 1, 2020 Editor: Valrie Chambers, CPA, Ph.D. Some tax preparers may not be aware that all tax professionals with preparer tax identification numbers (PTINs) are required to affirm that their organization has a “written security plan … Read more