Letter from the CEO: Business Development…it’s everyone’s job

Written on Jan 24, 2018

Happy 2018! This issue brings to the forefront a number of topics that are changing the face of business and creating opportunities for CPAs to demonstrate higher level value in the coming year.

In The Rise of Data Analytics, OSCPA’s Executive Vice President Laura Hay explores how the automation of routine accounting skills are moving CPAs beyond traditional accounting functions and into strategic career paths where data scientists formerly ruled the day. New expectations are emerging for CPAs to apply predictive analytics and strategic judgment to everything they do, and the profession is exploring how it can train and test for these new competencies in the CPA exam.

We also outline one of the biggest tax season advantages Ohio businesses now have—the option for businesses to file and pay municipal net profits taxes centrally through the Ohio Business Gateway. This is a significant win and one of several changes recommended by OSCPA’s Tax Reform Task Force in 2016. The change was signed into law last June along with Ohio’s biennial budget, ushering in a new level of efficiency for businesses who must comply with the nation’s most burdensome municipal tax system.

OSCPA is encouraging all Ohio businesses that file multiple returns to register for centralized filing by March 1—the deadline to opt in for calendar-year-end entities. CPAs can help by passing along this news to clients.

The change doesn’t come without challenges. More than 100 cities have joined forces to sue the state over the new centralized filing option and try to repeal other municipal tax reforms already in place. It’s a deliberate attempt to confuse businesses and discourage them from registering for centralized filing—a feature that could annually save them a combined $800 million in compliance costs if every business in Ohio participates. RITA, representing over 200 cities, has even waged an advertising campaign using public funds to convince businesses the state isn’t prepared to take on centralized filing and even implying that opting in puts business relationships with cities at risk. These thinly-veiled threats are extremely disappointing. OSCPA will fully support the Ohio Department of Taxation in moving ahead with important reforms that make Ohio’s business climate more competitive and is confident the new opt-in system will be a very positive change for Ohio business owners.

Honing your business development and problem-solving skills are two other topics we cover in this issue—two competencies business leaders name frequently as necessary skills for CPAs who want to lead their organizations to greater success.

We’re also working on new resources to help you achieve your personal best including CPE and timely updates on federal tax reform. Look for new conferences this spring such as the Strategic Finance and Accounting Summit and Business Development Workshops.

We’re keeping our ears to the ground to make sure we are bringing you the best programs for your membership investment based on your direct feedback because our future depends on the value we provide and how well you succeed.

Scott Wiley, CAE
President & CEO
The Ohio Society of CPAs
(614) 764-2727, ext. 2218 (office)
(614) 546-9430 (cell)
Twitter: @ScottDWiley
LinkedIn: www.linkedin.com/in/scottwileycae

Leave a comment