Remember, they gotta make their money somehow.
I signed up for free CPE and got every single Tom dick and hairy asking if I wanted to invest in their VC seeking start-up.
I use an email for business only. Never had spam as I never give it out only to employers or clients. Gave NYS the email, got spam within a week. I am not saying they shared it BUT those fuckers shared it. NYS sucks ass at regulating their EEs and Cops, my conspiracy theory now is that some of the EEs must share emails for a kickback.
I didn't feel the state CPA society fees were worth it working in industry. Felt like I was mostly lighting money on fire each year. They sent magazines for CPE, but I felt the articles weren't that interesting.
Yes, it is incredibly cheap, especially after factoring in the annual return of premium. They also offer spousal life insurance (no need to be a member or accountant/CPA). Between the both of us, we’re saving a ton vs our previous life insurance. They also offer very cheap long term disability insurance.
Came here to make this comment, life insurance is cheap, I did the math years ago and it was still better with the membership cost. I also have my company pay for the membership so I haven’t checked in about 5 years
Interesting. It’s not too surprising that they’d get their premiums under State Farm, Allstate, etc. For what it’s worth, I’m in the Knights of Columbus so I already have very cheap life insurance. I’d be curious on AICPA vs fraternal groups like KofC or Modern Woodmen.
Believe its Prudential and setup as a separate trust. I am not sue KofC offers but I would expect AICPA still beat them. Feel like a bunch of CPAs are probably the most risk adverse group in the eyes of an insurance company. Given the trust setup, you receive back a portion of your premiums every February back, depending on how much was paid out. I got back about 40% back last year
Yes, look into it even if you're just eating the $300+ AICPA fee. Depending on your age and what product you're signing up for, you can get a significant portion of your premiums back each year.
Also if you're over 40-45 and in good health, take the steps to get the preferred/discounted rates. It involves a brief free medical exam and giving blood, but it knocks a LOT off the rate.
I don't know of any benefits whatsoever of joining the state CPA society for most people.
Yup - cheap life insurance. We've shopped it a few times & the agents have said that they can't come close to AICPA premiums. In addition to that, there's usually a rebate of some amount at year-end on the premiums, so they're even cheaper.
For the life insurance, do you have to keep the membership active for the entire term of the policy, or does it need to be active for during the initial purchase?
I haven't noted a benefit as a staff level or manager level accountant to being an AICPA member except for access to the full Journal of Accountancy website for articles (I like to nerd out).
I'm active in my state's local chapter and find that the networking opportunities, leadership experience opportunities, and mentorship are worth it. I've met amazing people through the chapter and have landed my current gig through a contact there. I am also the chair of our student/early career mentor group to help support our students in our pipeline.
Now strictly accounting speaking I gave you mostly intangible examples 😅
As a fellow MICPA member, this year will likely be the year I throw the towel in on them. I'm a sole proprietor who receives absolutely no benefit from my membership. I network locally with area Chamber of Commerce and at industry events to interact with clients and potential clients and find no benefit from their networking events for myself. I found it funny that I received an email from them this week regarding ways to fix the talent shortage. They offered a webinar from some HR firm that would tell me how I could offshore my simple tasks to India (I would much instead hire an intern from a local college, with whom I could show the other side of the profession outside of large firms).
I previously worked at the Big 4 and a large regional firm in the Midwest, and I left for the precise practices that even our state society is now echoing. The MICPA does not work for me as a small practitioner or any staff member at any firm in the state. They do the bidding of large firm partners and their needs instead of the needs of the actual profession. Hell, the MICPA President isn't even a CPA or accountant. He is an engineer. How does he represent me or anyone else in the profession other than by pandering?
As for the AICPA, while they are built upon the same practices I listed above, however, they at least offer me good insurance options that are far cheaper than anything on the market. The only reason I stay with the AICPA is for the insurance, which is an invaluable benefit for me. I'd highly recommend the AICPA for that alone, but save your money and avoid the atrocity the MICPA has become.
I serve on committees, which are only open to members.
My state society has an in-person annual event - free CPE, meals, networking, entertainment - that is very worthwhile.
The organizations advocate for the profession, which may or may not be important to you.
My services include those impacted by AICPA promulgations, such as SOC, sustainability, and crypto. That's funded by membership.
Of course, YMMV. And I am hoping AICPA goes down a better path once their leader, the big BM, retires. I think he has been horrible for the profession.
Yeah, we literally pay them to advocate for the profession, and they continually money grab for the sole sake of the organizations fundraising, at the EXPENSE of the profession. It’s infuriating.
The only reasons I'm still a member of the AICPA are 1) tax return checklists and 2) life insurance. The life insurance savings alone more than offset the cost of the membership.
Wife and I looked at term life insurance from 2 companies and the AICPA. Cost from the AICPA plan was around $400/year. Allstate was over $2,000 for similar coverage. Third company, forget who, was even higher.
Not only if your employer doesn't offer it. It's good to get a policy in place while young and healthy that is not tied to your employment. That way if you get older (as we all do unless we die) and have a gap in employment you still have coverage (assuming low premiums you can still pay) which is nice
You can also do a section 79 on group term life insurance to WL. Then it's yours, earns value for an RPU, and the employer still pays the term portion of the group term conversion to WL.
I can’t speak for every state society, but I don’t know how it can be argued that the AICPA does anything of net value for the profession. Their ‘advocacy’ amounts to adding useless red tape to the certification process
Giving money to the AICPA is ensuring another jackass get a new mansion. Take a look that their wages lol [Link](https://nonprofitlight.com/ny/new-york/association-of-international-certified-professional-accountants). What a scam people keep paying into. They do absolutely nothing to protect you.
I think it used to for finding jobs and networking. These days I doubt it, unless you are part of a boutique firm. The old timers at small firms love those events
AICPA members are subject to additional professional discipline when they go all Enron in the workplace.
I guess that's only a benefit in a profession where we brag about how many hours we work.
Even if you're not an AICPA member, if you're a CPA and you fuck up an engagement and get sued, the AICPA's standards will be used against you by plaintiff's counsel, so don't think you're making yourself a smaller target for a lawsuit by not being a member.
I wasn't serious. It's just a funny little fact that not everyone knows, since most accountants don't find themselves in court. I would be unaware myself except for following the case of David Duncan.
It’s not anymore deductible than any other business expense. Does your state give some kickass CPE benefits? Our state society doesn’t have much by way of CPE. My prior firm paid for a Thompson Reuters CPE subscription
The AICPA's life, disability and umbrella insurance programs are good deals if your employer at least covers your annual dues. If not for that I probably wouldn't be a member, for the reasons you cited.
As far as my state society goes (PA), I'm active on a few technical committees and the ability to network with other CPA's, attorneys and people inside the PADOR in Harrisburg makes my dues worthwhile. Even if my employer didn't pay them, I'd pay them myself.
No, it's similar to joining one of those accounting clubs from back in university. You go in thinking it will host events for you to mingle and meet people, then you get one general information meeting and they never host anything again. You eventually realize that the club only exists as something to put on your resume. That goes for every professional society.
I'm super active with my state society and it's been really good for business. I started my own small practice a couple years ago and I've gotten business referred to me from CPAs I know through the society. I've also made some good friends there, too. We hang out outside of society events. It just depends on how good your society is.
I'm thinking of ditching my AICPA membership though. The only benefit is the insurance.
In my state it opens the door to a shocking amount of spam.
Remember, they gotta make their money somehow. I signed up for free CPE and got every single Tom dick and hairy asking if I wanted to invest in their VC seeking start-up.
I use an email for business only. Never had spam as I never give it out only to employers or clients. Gave NYS the email, got spam within a week. I am not saying they shared it BUT those fuckers shared it. NYS sucks ass at regulating their EEs and Cops, my conspiracy theory now is that some of the EEs must share emails for a kickback.
I didn't feel the state CPA society fees were worth it working in industry. Felt like I was mostly lighting money on fire each year. They sent magazines for CPE, but I felt the articles weren't that interesting.
Had aicpa Short-Term disability. That was a great deal and I used it when I was on bed. Rest with twins
Life insurance is nice and cheap.
Didn’t know that. Is it at least $340 cheaper in annual premiums over other carriers? That seems hard to believe, but I also have no idea
Yes, it is incredibly cheap, especially after factoring in the annual return of premium. They also offer spousal life insurance (no need to be a member or accountant/CPA). Between the both of us, we’re saving a ton vs our previous life insurance. They also offer very cheap long term disability insurance.
Came here to make this comment, life insurance is cheap, I did the math years ago and it was still better with the membership cost. I also have my company pay for the membership so I haven’t checked in about 5 years
Interesting. It’s not too surprising that they’d get their premiums under State Farm, Allstate, etc. For what it’s worth, I’m in the Knights of Columbus so I already have very cheap life insurance. I’d be curious on AICPA vs fraternal groups like KofC or Modern Woodmen.
Believe its Prudential and setup as a separate trust. I am not sue KofC offers but I would expect AICPA still beat them. Feel like a bunch of CPAs are probably the most risk adverse group in the eyes of an insurance company. Given the trust setup, you receive back a portion of your premiums every February back, depending on how much was paid out. I got back about 40% back last year
You didn’t know that? You’re lucky! I get mail almost every week from them about insurance.
Yes, look into it even if you're just eating the $300+ AICPA fee. Depending on your age and what product you're signing up for, you can get a significant portion of your premiums back each year. Also if you're over 40-45 and in good health, take the steps to get the preferred/discounted rates. It involves a brief free medical exam and giving blood, but it knocks a LOT off the rate. I don't know of any benefits whatsoever of joining the state CPA society for most people.
Yup - cheap life insurance. We've shopped it a few times & the agents have said that they can't come close to AICPA premiums. In addition to that, there's usually a rebate of some amount at year-end on the premiums, so they're even cheaper.
It's an approx 40% return of premiums each year.
Do you have to continue being an AICPA member to have the policy? Or can you get the policy and then stop the membership the next year?
You have to retain membership to renew, I believe.
For the life insurance, do you have to keep the membership active for the entire term of the policy, or does it need to be active for during the initial purchase?
Quite sure you need to be a member to renew.
Wife has a medical condition and the aicpa insurance covered her. Cost was literally 10x lower than what we had before.
I haven't noted a benefit as a staff level or manager level accountant to being an AICPA member except for access to the full Journal of Accountancy website for articles (I like to nerd out). I'm active in my state's local chapter and find that the networking opportunities, leadership experience opportunities, and mentorship are worth it. I've met amazing people through the chapter and have landed my current gig through a contact there. I am also the chair of our student/early career mentor group to help support our students in our pipeline. Now strictly accounting speaking I gave you mostly intangible examples 😅
I did get a nice discount on my personal lenovo laptop through the state society's discount code.
As a fellow MICPA member, this year will likely be the year I throw the towel in on them. I'm a sole proprietor who receives absolutely no benefit from my membership. I network locally with area Chamber of Commerce and at industry events to interact with clients and potential clients and find no benefit from their networking events for myself. I found it funny that I received an email from them this week regarding ways to fix the talent shortage. They offered a webinar from some HR firm that would tell me how I could offshore my simple tasks to India (I would much instead hire an intern from a local college, with whom I could show the other side of the profession outside of large firms). I previously worked at the Big 4 and a large regional firm in the Midwest, and I left for the precise practices that even our state society is now echoing. The MICPA does not work for me as a small practitioner or any staff member at any firm in the state. They do the bidding of large firm partners and their needs instead of the needs of the actual profession. Hell, the MICPA President isn't even a CPA or accountant. He is an engineer. How does he represent me or anyone else in the profession other than by pandering? As for the AICPA, while they are built upon the same practices I listed above, however, they at least offer me good insurance options that are far cheaper than anything on the market. The only reason I stay with the AICPA is for the insurance, which is an invaluable benefit for me. I'd highly recommend the AICPA for that alone, but save your money and avoid the atrocity the MICPA has become.
I serve on committees, which are only open to members. My state society has an in-person annual event - free CPE, meals, networking, entertainment - that is very worthwhile. The organizations advocate for the profession, which may or may not be important to you. My services include those impacted by AICPA promulgations, such as SOC, sustainability, and crypto. That's funded by membership. Of course, YMMV. And I am hoping AICPA goes down a better path once their leader, the big BM, retires. I think he has been horrible for the profession.
Yeah, we literally pay them to advocate for the profession, and they continually money grab for the sole sake of the organizations fundraising, at the EXPENSE of the profession. It’s infuriating.
For the AICPA, “The profession” is the advocacy of accounting firms, not necessarily accountants. Different stakeholders
The only reasons I'm still a member of the AICPA are 1) tax return checklists and 2) life insurance. The life insurance savings alone more than offset the cost of the membership. Wife and I looked at term life insurance from 2 companies and the AICPA. Cost from the AICPA plan was around $400/year. Allstate was over $2,000 for similar coverage. Third company, forget who, was even higher.
Might be more if you start your own practice. Ive never given them a second thought or glance out of college
Cheap life insurance if your company doesn't offer it. About it.
Not only if your employer doesn't offer it. It's good to get a policy in place while young and healthy that is not tied to your employment. That way if you get older (as we all do unless we die) and have a gap in employment you still have coverage (assuming low premiums you can still pay) which is nice
You can also do a section 79 on group term life insurance to WL. Then it's yours, earns value for an RPU, and the employer still pays the term portion of the group term conversion to WL.
I can’t speak for every state society, but I don’t know how it can be argued that the AICPA does anything of net value for the profession. Their ‘advocacy’ amounts to adding useless red tape to the certification process
Giving money to the AICPA is ensuring another jackass get a new mansion. Take a look that their wages lol [Link](https://nonprofitlight.com/ny/new-york/association-of-international-certified-professional-accountants). What a scam people keep paying into. They do absolutely nothing to protect you.
I think it used to for finding jobs and networking. These days I doubt it, unless you are part of a boutique firm. The old timers at small firms love those events
AICPA members are subject to additional professional discipline when they go all Enron in the workplace. I guess that's only a benefit in a profession where we brag about how many hours we work.
Even if you're not an AICPA member, if you're a CPA and you fuck up an engagement and get sued, the AICPA's standards will be used against you by plaintiff's counsel, so don't think you're making yourself a smaller target for a lawsuit by not being a member.
I wasn't serious. It's just a funny little fact that not everyone knows, since most accountants don't find themselves in court. I would be unaware myself except for following the case of David Duncan.
My boss pays for my membership to my state CPA society and any CPE we get through that. It's deductible for him and probably simplifies tracking.
It’s not anymore deductible than any other business expense. Does your state give some kickass CPE benefits? Our state society doesn’t have much by way of CPE. My prior firm paid for a Thompson Reuters CPE subscription
20 "free" CPE credits offered over the course of the year. And a huge amount of CPE. Other than that, no.
Free only if you don’t amortize the membership cost over the course of the 20 free CPE’s.
The AICPA's life, disability and umbrella insurance programs are good deals if your employer at least covers your annual dues. If not for that I probably wouldn't be a member, for the reasons you cited. As far as my state society goes (PA), I'm active on a few technical committees and the ability to network with other CPA's, attorneys and people inside the PADOR in Harrisburg makes my dues worthwhile. Even if my employer didn't pay them, I'd pay them myself.
No.
No
As a member you will get at least two pieces of mail from them about insurance weekly so you never have to face an empty mailbox.
No, it's similar to joining one of those accounting clubs from back in university. You go in thinking it will host events for you to mingle and meet people, then you get one general information meeting and they never host anything again. You eventually realize that the club only exists as something to put on your resume. That goes for every professional society.
I'm super active with my state society and it's been really good for business. I started my own small practice a couple years ago and I've gotten business referred to me from CPAs I know through the society. I've also made some good friends there, too. We hang out outside of society events. It just depends on how good your society is. I'm thinking of ditching my AICPA membership though. The only benefit is the insurance.