Weekly News Update - May 5, 2022

Highlight: Microenterprise Award Winner

Granny Squibb's Organic Iced Tea | Westerly , RI

Granny Squibb's Organic Iced Tea is a Rhode Island based company that specializes in making certified organic, vegan, gluten free, non-GMO, preservative free and kosher certified bottles and canned iced tea. They offer several flavors in both sweetened and unsweetened varieties. They believe that everyone should be able to enjoy a delicious cold iced tea.

Their heart is with their community and they partner with local non-profits for every new flavor they come out with. Those partnerships include Save The Bay and Dana-Farber Cancer Institute.

Despite losing 9.1 million jobs in the first two quarters of 2020, small businesses job growth rebounded swiftly following the COVID-19 recession. In the four quarters following, small businesses have gained 5.5 million jobs, making up for 60 percent of the decline during the early pandemic. Small businesses have generated 12.9 million net new jobs over the past 25 years, accounting for two out of every three jobs added to the economy. For more, read Advocacy’s latest fact sheet, “Small Business Job Creation”. Fact Sheet

RIPEC Hosts Forum with Gubernatorial Candidates Matt Brown, Helena Buonanno Foulkes, Nellie Gorbea, Dan McKee, and Dr. Luis Daniel Muñoz. WPRI Investigative Reporter Steph Machado moderated the forum. Candidates were asked to answer questions on taxing, spending, and the additional federal funds coming to the state. 

Rhode Island Public Expenditure Council Releases Education Finance Report: RI's Funding Formula After Ten Years: Education Finance in the Ocean State: PRESS RELEASE

Certificate of Good Standing vs. Letter of Good Standing: Depending on the reason your business must establish good standing,

you may need to request a Certificate of Good Standing, a Letter of

Good Standing, or both! The RI Department of State and the RI Division of Taxation collaborated to provide the following information: LOGs vs COGs, which can also be found HERE.

Attention CPAs with licenses expiring on June 30, 2022: Important Changes

NEW! I-195 DEVELOPMENT RFP/RFQ The I-195 Redevelopment District is seeking proposals from firms qualified to provide audit services. The RFP deadline for submissions is Friday, May 13, 2022. For More info: www.195district.com/documents

BILL HB 6658 Changes the rate of interest for underpayments of tax to prime rate plus six percent (6%). Also limits the assessment of interest to four (4) calendar years prior to the date on which notice of the delinquent payment is sent.)

Right Now - for underpayments of tax you pay Eighteen percent (18%) is one of the highest rates in the nation and Rhode Island is well above the average rate.

NEW! Expanding the Team: Andrew Blais & Michael Sandfort join the firm: News Release

NEW! Social Hour of Networking with Goldman Sachs 10,000 Small Businesses RI Community. Meet and mingle with our faculty, staff, and fellow small business owners at the beautiful President's House on the Community College of Rhode Island's Warwick campus, Tuesday, May 10 at 5:00 PM. More Information and Registration

Local Training Opportunity: WHEN DISASTER STRIKES: PREPARE, ACT, SURVIVE: This course is designed to teach and encourage community members impacted by disaster to prepare, take preservation actions and perform, as appropriate, light search and rescue response to aid their family and other community members in the immediate aftermath of a natural disaster or human-made incident. More Information

NEW! The Treasury Inspector General for Tax Administration (TIGTA) today released the following:

CLICK HERE every Monday at 11:00 AM.

Join the SBA Every Tuesday at 9:00am To Get All The Info You Need In A Half Hour or Less.

Rhode Island manufacturers: Looking to take the next step — or even a first one — into international trade? You’ll need to understand exporting from a financial perspective. Polaris MEP, the state’s nonprofit Manufacturing Extension Partnership, is hosting a 90-minute workshop designed to provide the understanding you need to take the next step into global markets. Thursday May 19, 2022 from 9a to 10:30am.

Learn More/Register and All Upcoming Events

NOW OPEN: 2022-23 AICPA Student Scholarships

Transition Policy Announced for the 2024 CPA Exam Under the CPA Evolution Initiative, 2/25/2022: Read More

AICPA Town Hall Series: April 21st Edition - Federal Legislative Agenda Items for Remainder of 2022

AICPA Benevolent Fund: The AICPA Benevolent Fund was created to support AICPA members with short-term personal financial needs. Program Information

Chartered Global Management Accountant: CGMA is the most widely held management accounting designation in the world with more than 137,000 designees. It was established in 2012 by the AICPA and CIMA to recognize a unique group of management accountants who have reached the highest benchmark of quality and competence. How to Earn the CGMA Designation

All AICPA Advisory Credentials: Tip Sheet 

LOCATION DESCRIPTION: 831 Bald Hill Road is located at the northern end of Bald Hill Road, Route 2 in Warwick and offers incredible visibility (44,000 CPD). The building is surrounded by ample amenities and is easily accessed from Route 95. Read More