Amber, Author at CAMICO

Risk Management Aspects of the IRS’s Second ERC Voluntary Disclosure Program and the ERC Withdrawal Option

October 8, 2024October 8, 2024 by Amber

On August 15, 2024, the IRS announced a second Employee Retention Credit Voluntary Disclosure Program (“ERC-VDP”) for the benefit of businesses and tax-exempt organizations that erroneously claimed the Employee Retention Credit (“ERC”) for 2021 and have received a credit or refund prior to August 15, 2024. The initial Voluntary Disclosure Program (“VDP”) for the 2020 … Read more

CTA-BOI Reporting … The Saga Continues

October 17, 2024October 8, 2024 by Amber

The new beneficial ownership reporting requirements under the Corporate Transparency Act (“CTA”) took effect on January 1, 2024, and months later, the small business community remains woefully unprepared for compliance with this complex reporting regime. CAMICO continues to receive numerous inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting … Read more

Mike Ray selected as CAMICO’s next President and Chief Executive Officer

July 24, 2024 by Amber

Mike Ray, CPA, will become President and CEO, effective January 1, 2025. SAN MATEO, Calif. (July 24, 2024) — CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, announced today that Mike Ray, CPA, will become President and Chief Executive Officer (CEO), effective January 1, 2025. Ray … Read more

CAMICO Earns A- (Excellent) Rating From AM Best

August 26, 2024July 18, 2024 by Amber

SAN MATEO, Calif.— CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, announced today that AM Best has upgraded its Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating of a- (Excellent) from bbb+ (Good). In excerpts from its 2024 report, … Read more

CAMICO Appoints Two New Board Members

October 15, 2024June 28, 2024 by Amber

SAN MATEO, Calif. (June 28, 2024) — CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, elected Debra Lockwood and Paul Nienow, CPA, MST, to the company’s board of directors on June 18, 2024. Lockwood retired in 2017 as a partner at the national CPA firm … Read more

Understand Your Risks: Generative Artificial Intelligence Solutions

March 15, 2024March 14, 2024 by Amber

Generative artificial intelligence (“AI”) solutions such as OpenAI’s ChatGPT continue to gain popularity. Many CPA firms seek to leverage the use of generative AI to accelerate innovation and increase productivity. As the use of AI technology evolves, CPAs need to obtain a solid understanding of their needs and objectives – and gain an understanding of … Read more

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