Financial Literacy


American companies can no longer afford to offer their employees adequate pensions, nearly three of four respondents (74%) said in an AICPA survey of CPAs serving as senior corporate executives ( www.aicpa.org/news/index.htm ). “This is a wake-up call,” said AICPA business and industry vice-president John Morrow. “Employees will have to find other ways to finance their retirement.” Fifty-nine percent of survey participants agreed, saying Americans will have to educate themselves about retirement savings strategies. To that end, the Web site of the AICPA’s 360 Degrees of Financial Literacy campaign ( www.360financialliteracy.org ) offers hundreds of free tools and resources to help consumers better understand and manage their personal finances. Volunteer opportunities are available for qualified CPAs; go to www.360financialliteracy.org/ for information on how you can help members of your community reach their lifetime financial goals.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.