Your Answers for the RAP Index Survey Will Strengthen SCACPA Advocacy
SCACPA is the only organization looking out for the CPA profession in South Carolina. You know you can rely on the Association to advocate for you at the state [...]
Nichols Federal Tax Update (Dec. 21, 2020): Latest Form 1040 Asks for More Income Information
NOTE: New Covid relief legislation became reality during the production of this blog. SCACPA is glad to note that deductibility of PPP Loans is a component of this economic [...]
Deductibility of PPP Loans is Component of New Economic Recovery Package
This is a developing story, and SCACPA will provide updates as details become available. JUST IN TIME CPE: SCACPA will offer a 3-hour CPE learning experience about this new [...]
View From the Dome (Dec. 18, 2020): Get a First Look at Pre-Filed Tax Legislation of Interest for 2021 Legislative Session
By Copper Dome Strategies Friday, Dec. 18, 2020 The Senate and House of Representatives pre-filed 981 bills in advance of the 2021 legislative session. Below is a list of legislation [...]
LLR 2021 License Renewal Notices are Arriving in Your Inbox
The South Carolina Association of CPAs is sending an advisory to its members that the South Carolina Department of Labor, Licensing and Regulation has begun issuing courtesy notice email [...]
View From the Dome (Nov. 6, 2020): December Organizational Session Awaits Tuesday’s SC Election Winners
By Copper Dome Strategies Friday, Nov. 6, 2020 A “blue wave” that pollsters and pundits had predicted for months did not materialize in South Carolina in Tuesday’s election. More [...]
With South Carolina Businesses in Their Time of Need, Here is an Opportunity for CPAs to Volunteer
A just-in-time way for you to contribute your time and expertise for October Month of Service After seeing so many months of hardship around us, SCACPA is excited about [...]
Meet the CPE Committee of 16, Creating ‘Just in Time’ Education by CPAs, for CPAs
The CPE Committee of 16 is essential in ensuring that SCACPA provides the continuing education that members want. The team is responsible for defining, documenting and identifying sessions and [...]
View From the Dome: Board of Economic Advisors Finds SC Economy is Rebounding Faster than Expected
By Copper Dome Strategies Friday, Oct. 16, 2020 With no plans for the General Assembly to return to Columbia, this will be the final weekly report until after November’s [...]
View From the Dome: $10M in CARES Money Remains to be Committed to Expand Broadband
By Copper Dome Strategies Friday, Oct. 9, 2020 Several court decisions impact the November elections and federal CARES Act funds. The Joint Bond Review Committee (JBRC) received an update [...]
View From the Dome: McMaster Signs Bills for Conformity, Business License Tax Standardization into Law
By Copper Dome Strategies Friday, Oct. 2, 2020 Gov. Henry McMaster signed a number of bills into law that were passed and ratified by the General Assembly. The General [...]
SCACPA Advocacy Scores Conformity Among Three Important Wins at State House
When the Senate passed bill S.545 during special session on Tuesday, Sept. 22, it represented three wins for the SCACPA Advocacy Team over this incredibly difficult year. The bill [...]
View From the Dome: General Assembly Adopts Tax Conformity Legislation, Awaits Governor’s Signature
By Copper Dome Strategies Friday, Sept. 25, 2020 The General Assembly completed a special two-week legislative session and does not have plans to return until January. In addition to [...]
View From the Dome: Conference Committee Named to Resolve Remaining CARES Act Funding for Local Governments, Colleges, Nonprofits
By Copper Dome Strategies Friday, Sept. 18, 2020 The General Assembly returned to Columbia to begin a special two-week legislative session. The Senate passed its version of the FY20-21 [...]
SCACPA Commends BOA for Addressing Modification of Livestream CPE Rules and Hardship Requests
UPDATE: The South Carolina Board of Accountancy has released its announcement on this development. It is re-printed at the bottom of this post. The BOA's announcement includes a reminder [...]
View From the Dome: Senate Finance Committee Passes Version of FY20-21 Budget, OKs $420M from CARES Act for Unemployment Insurance Trust Fund
By Copper Dome Strategies Friday, Sept. 11, 2020 The Senate Finance Committee passed its version of the FY20-21 state budget and authorization for the remaining CARES Act funds. The [...]
The Importance of CPA-PAC: Influencing the Decisions that Impact Our Profession
The CPA Profession has celebrated a long list of legislative victories, but none of those successes are possible without legislators who listen to and support our position. It is [...]
View From the Dome: Latest BEA Projection is $775M in One-Time Surplus Revenue
By Copper Dome Strategies Friday, Sept. 4, 2020 The Senate returned to session Wednesday to address voting laws and began committee hearings on the state budget. The Attorney General [...]
SCACPA Joins AICPA, COST in Urging Congressional Support for State Tax Filing Relief for Remote Workers
SCACPA has joined more than 120 employers and organizations across the nation in signing a letter to Congressional leaders urging them to support state tax filing and withholding relief [...]
View From the Dome: Comptroller’s Office Announces $350M Surplus for FY 2019-20
By Copper Dome Strategies Friday, Aug. 28, 2020 Gov. Henry McMaster announced that the state of South Carolina submitted its grant application for FEMA's Lost Wages Assistance (LWA) program. [...]
Galasso Learning Solutions: Materiality Considerations for Attestation Engagements
The AICPA has issued nonauthoritative guidance from its Materiality Working Group of the Assurance Services Executive Committee (ASEC), designed to assist practitioners in determining when there is a material [...]
DOR Announces Extended Tax Relief for Nexus and Income Tax Withholding Requirements Through Dec. 31, 2020
The South Carolina Department of Revenue on Thursday, Aug. 26, released SC Information Letter #20-24, which extends until Dec. 31, 2020, temporary tax relief to employers with workers temporarily [...]
View From the Dome: Gov. McMaster Urges Cabinet Agencies to Maintain Funding Levels from Continuing Resolution For Now
By Copper Dome Strategies Friday, Aug. 21, 2020 The Senate announced plans to return to session in September. Among the considerations are changes to state election laws that could [...]
Here are Resources to Discuss the Payroll Tax Deferral Executive Action
SCACPA and the AICPA are offering resource concerning the recent Executive Action on Payroll Tax Deferral. The executive action has raised many questions, and specific guidance and clarity are [...]
View From the Dome: Joint Bond Review Committee Approves Highway Projects, Seeks More Funds for Rural Broadband
By Copper Dome Strategies Friday, Aug. 14, 2020 Plans are finalized for public schools to begin opening starting next week. The Senate Re-Open SC Committee met again. Democrats flipped [...]
View From the Dome: Legislative Committees Discuss Regulatory Relief, Broadband Access and Testing Efforts
By Copper Dome Strategies Friday, Aug. 7, 2020 All remaining businesses that closed as the Coronavirus began spreading across South Carolina began to reopen this week. Legislative committees met [...]
SCDOR Roundup: 2020 Individual Income Tax Statistics and Policy Division Updates
More South Carolina taxpayers filed their Individual Income Tax returns on time this year, with more taxpayers choosing electronic filing options, according to preliminary figures from the South Carolina [...]
Lynn Nichols Federal Tax Update Podcast for Aug. 3, 2020: Capital Loss vs. Ordinary Loss
Welcome to the Federal Tax Update Podcast, hosted by Lynn Nichols. This is presented as a member benefit by the South Carolina Association of CPAs. The commentary is brief, [...]
View From the Dome: Board of Economic Advisors Anticipates SC’s 2019-20 Surplus as $220M
By Copper Dome Strategies Friday, July 31, 2020 Gov. Henry McMaster issued a new Executive Order on Thursday allowing all remaining businesses that closed as the coronavirus began spreading [...]
NASBA Board Unanimously Approves CPA Evolution Framework
The National Association of State Boards of Accountancy Board of Directors has announced its unanimous vote of support for the advancement of the CPA Evolution initiative that designs and [...]