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In this month's issue, our focus is on “the state of the profession” with regard to both CPA firms and individual professionals—the management of a practice, the recruitment and retention of new talent, the pursuit of business opportunities and career goals. The accounting profession, like many others, is facing a host of challenges, from a difficult economic climate to a changing technology paradigm to a demographic transition. But with these challenges come opportunities for growth and reinvention that nimble firms and adaptable individuals will be able to capitalize upon.
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  • Avoiding e-file penalties this tax season
    Feb 11, 2016
    Prior to tax season, several NYSSCPA members expressed frustration and confusion on the Society’s Exchange Open Forum after the New York State Department of Taxation and Finance (NYSDTF) penalized them for filing paper returns on behalf of their clients—sometimes, they said, for situations that were beyond their control.
  • The Accountants Club of America: One of New York’s best-kept secrets
    Feb 11, 2016
    One of the best-kept secrets of the accounting profession in the New York metropolitan area is the Accountants Club of America. Conceived by Elijah Watt Sells and his friend and colleague, Charles Waldo Haskins, it was officially incorporated in 1927. However, its real origins can be traced to a time decades earlier. 
  • How to Build Your Confidence before an Interview
    Feb 10, 2016

    Heading into an interview can be extremely stressful, and unfortunately, stress can often prove detrimental to your interviewee skills. Unless you happen to know that the interview is just a formality (lucky you!), it’s likely to be more than a small source of anxiety. So how to you boost your confidence before entering the lion’s den? Forbes has a few suggestions to follow:

  • Three Workplace Traits That May Be Too Much Of a Good Thing
    Feb 9, 2016

    There are obvious ways to lower your chances at career advancement, like constantly badmouthing your coworkers, missing deadlines, or just failing to get your work done in general. However, according to Time, there are some behaviors that might seem positive, but could actually have a sabotaging effect on your career.

    Feb 11, 2016

    Bonadio Group hires record number of candidates in 2015

    Accounting Today

    The Bonadio Group, upstate New York’s largest independent accounting, consulting, and financial services firm, set a record in 2015 with 183 new hires across its 10 offices, marking an 83 percent over the firm’s 2014 recruiting efforts. The new-employee number includes 52 recent college graduates, most of whom joined the firm in early December. They are from 20 different colleges and universities in New York.

  • President Backs Tax Preparer Regulation in Proposed Budget
    Feb 10, 2016
    President Barack Obama included increased oversight of tax return preparers in his 2017 budget proposal, according to the Treasury Department, putting additional weight behind existing efforts to put the industry under the IRS's regulatory authority. 
  • Monsanto's $80 Million SEC Settlement Carries Penalties for Execs as Well
    Feb 10, 2016
    Agribusiness giant Monsanto has agreed to pay the SEC $80 million to settle charges of accounting violations, and while The New York Times said this is one of the largest ever settlements for such a violation, the executives at the heart of the scandal were hit with significant penalties, too. 
    Feb 10, 2016
    Tax Pros Think Corporate Tax Reform Is Coming Soon: Survey
    The latest tax reform business barometer, released Tuesday by the Tax Council and EY’s quantitative economics and statistics practice, finds that 61% of U.S. business tax professionals expect tax reform to happen in 2018 or earlier. Thirty-one percent think it is most likely to occur in 2017. 

Carry It Forward

Internal Audit Committee