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  • NEWS HIGHLIGHTS FOR WEDNESDAY - 9.14.16

    By:
    Maya Lindsay
    |
    Sep 14, 2016

    Accounting and Financial News Stories

    Accounting News Roundup: Lousy Clients and The Non-GAAP Playground | 09.13.16
    Going Concern
    Life after Big 4 - Here's a Bloomberg article about Charles Chao, the CEO of Chinese internet company Sina Corp. Chao is a former PwC manager and his career has gotten pret-tay, pret-tay, pret-tay interesting in the last few weeks. The former audit manager at PricewaterhouseCoopers LLP is sitting on gains of about $423 million after he made a personal bet worth $456 million on Sina shares last November -- paying for more than half the purchase with borrowed money, according to data compiled by Bloomberg.

  • NEWS HIGHLIGHTS FOR TUESDAY - 9.13.16

    By:
    Maya Lindsay
    |
    Sep 12, 2016

    Accounting and Financial News Stories

    New Report Details CPA Profession’s Progress in Enhancing Audit Quality
    Yahoo Finance
    The American Institute of CPAs (AICPA) has issued a report detailing the past year’s activities and accomplishments as part of its Enhancing Audit Quality (EAQ) initiative. The publication outlines the CPA profession’s work to enhance the quality of private company audits in the areas of Pre-licensure, Standards and Ethics, CPA Learning and Support, Peer Review, Practice Monitoring of the Future, and Enforcement.

  • NEWS HIGHLIGHTS FOR MONDAY - 9.12.16

    By:
    Maya Lindsay
    |
    Sep 12, 2016

    NYSSCPA Members in the News

    Tom Walpole (Rochester)
    Taxing Social Security
    WROC Rochester First
    CPA Tom Walpole discussed Social Security recipients and marriage Monday on News 8 at Sunrise. The topic was inspired by a viewer question which asked how much is taxed when it comes to Social Security recipients and marriage.  "The answer is, it depends," said Walpole.  "It's never easy with the government. You start out with a number called MAGI, which is an acronym for Modified Adjusted Gross Income. You take your adjusted gross income, and from that, you add any tax-exempt interest that you might have.

     
  • NEWS HIGHLIGHTS FOR FRIDAY - 9.9.16

    By:
    Maya Lindsay
    |
    Sep 9, 2016

    Accounting and Financial News Stories

    Hey Xero - New Chatbot For Accounting Users
    CPA Practice Advisor
    Xero has launched an innovative chatbot codenamed Hey Xero that will provide small businesses and their advisors with a completely new way to access the Xero ecosystem and their accounting data quickly, from their platform of choice. Available later this year, Hey Xero will have the capability to connect the more than 50 million small businesses who use Facebook Messenger every month into the wider Xero ecosystem, opening a new way for businesses to discover the cloud accounting platform and find the right advisor for them.

  • NEWS HIGHLIGHTS FOR THURSDAY - 9.8.16

    By:
    Maya Lindsay
    |
    Sep 8, 2016

    Accounting and Financial News Stories

    Elizabeth Warren: What Apple Teaches Us About Taxes
    New York Times
    Apple got a big surprise last week when the European Commission ordered Ireland to collect more than $14 billion in back taxes from the company. The global giant had been attributing billions of dollars in profits to a phantom head office, allowing it to pay a tax rate of 1 percent or lower. Both Apple and Ireland are appealing the decision, but the commission’s announcement was the latest sign that multinational corporations are running out of places to hide from paying taxes.

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 9.7.16

    By:
    Maya Lindsay
    |
    Sep 7, 2016

    Accounting and Financial News Stories

    Best States for Accounting and Finance Careers
    Accounting Today
    The staffing company Accounting Principals analyzed the best states for accounting and finance professionals to live in by tracking the number of accounting and financial positions in each state from 2009 to 2016 to see how well each state’s job prospects are growing. Texas came out on top. The study looks at some of the employment trends in finance and accounting positions in each state during that same period to see how each state’s job prospects are growing.

  • NEWS HIGHLIGHTS FOR TUESDAY - 9.6.16

    By:
    Maya Lindsay
    |
    Sep 6, 2016

    NYSSCPA Members in the News

    Joanne S.  Barry – Executive Director and CEO
    The Top People in Public Accounting – 2016
    Accounting Today
    Having Dionne Warwick at your annual dinner isn’t necessarily a sign of influence — but it doesn’t hurt either, and the fundraising opportunity it created is just one very conspicuous example of the ways Barry is rethinking things at the New York society. Others include a major new conference on sustainability accounting, a proposal to open membership to non-CPA professionals, and using IT and big data solutions to target prospective members.

  • NEWS HIGHLIGHTS FOR FRIDAY - 9.2.16

    By:
    Maya Lindsay
    |
    Sep 2, 2016

    Accounting and Financial News Stories

    Time to make a deal on 421-a
    Crain’s New York Business
    Gov. Andrew Cuomo’s proposed amendments to the 421-a property-tax exemption have received a lot of attention for offering a subsidy to wages for workers on projects with 300 units or more. Other smaller residential projects with fewer units would move forward under the reforms to 421-a passed by the state legislature in 2015.

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 9.1.16

    By:
    Maya Lindsay
    |
    Sep 1, 2016

    NYSSCPA Member in the News

    Salvatore Collemi (Manhattan/Bronx)
    The Decline in Global Audit Quality
    Accounting Today
    Ask any practicing CPA who cares about the profession, and they’ll tell you about the need for continuous improvements when it comes to a public accounting firm’s system of quality control policies and procedures.

  • NEWS HIGHLIGHTS FOR THURSDAY - 8.31.16

    By:
    Maya Lindsay
    |
    Aug 31, 2016

    NYSSCPA Members in the News

    Akshay Shirmanker (Queens/Brooklyn)
    IRS Creates Dedicated Web Page With Resources For Sharing Economy
    Wolters Kluwer - Standard Federal Tax Reports
    As the sharing economy grows, the IRS has responded with new resources for taxpayers. The IRS launched a Sharing Economy Tax Center on its website, highlighting tax issues for individuals and companies performing services in the sharing economy.



  • NEWS HIGHLIGHTS FOR MONDAY - 8.29.16

    By:
    Maya Lindsay
    |
    Aug 29, 2016

    NYSSCPA Members in the News

    Kenneth Hall (Rochester)
    Back to school tax tips
    WROC Rochester First
    CPA Kenneth Hall discussed some back to school tax tips Monday on News 8 at Sunrise. "The main one is the Child Care Credit," said Hall. "If you have a child, in the I-R-S' eyes, that's less than age thirteen, you can deduct up to twenty percent of three thousand dollars of child care that you pay for one child, and double that for two or more children." He added the adjusted gross income has to be $43,000 or lower and you have to have a registered child care provider.

  • NEWS HIGHLIGHTS FOR FRIDAY - 8.26.16

    By:
    Maya Lindsay
    |
    Aug 26, 2016

    Accounting and Financial News Stories

    A Blueprint for Succession Failure
    AccountingWEB
    When it comes to facing succession and ownership transition within CPA firms, experience has taught me there are two types of practitioners – those who are proactive with regard to securing their next generation of leaders and those who continue to procrastinate despite repeated efforts to convince them otherwise.

  • NEWS HIGHLIGHTS FOR THURSDAY - 8.25.16

    By:
    Maya Lindsay
    |
    Aug 25, 2016

    NYSSCPA Members in the News

    Michael Goodman (Nassau)
    How to widen your tax-cut window
    MSN Money
    The first few years of retirement are a perfect time to explore your passions, travel the world, and bond with your family. Something else they can be great for: cutting your lifetime tax bill—and leaving you more money to spend on yourself. The reason? Once you stop collecting a paycheck and start living off other funds—say, investments, part-time work, and maybe a pension—chances are good that, as for most retirees, your income will drop, putting you in a lower bracket.

     
  • NEWS HIGHLIGHTS FOR TUESDAY - 8.23.16

    By:
    Maya Lindsay
    |
    Aug 23, 2016

    Accounting and Financial News Stories

    Court Denies U.S. Request to Reconsider Tossing Bank of America Fine
    Wall Street Journal
    An appellate court on Monday declined to reconsider its decision to throw out a mortgage-fraud case against Bank of America Corp., a blow to the Justice Department as it tried to rescue one of its highest-profile cases tied to the financial crisis. Judges for the Second U.S. Circuit Court of Appeals in New York said in a filing that they had considered the Justice Department’s request and would deny it.

     

     




    Accounting and Financial News Stories


    Court Denies U.S. Request to Reconsider Tossing Bank of America Fine

    Wall Street Journal

    An appellate court on Monday declined to reconsider its decision to throw out a mortgage-fraud case against Bank of America Corp., a blow to the Justice Department as it tried to rescue one of its highest-profile cases tied to the financial crisis. Judges for the Second U.S. Circuit Court of Appeals in New York said in a filing that they had considered the Justice Department’s request and would deny it.

    Accounting and Financial News Stories


    Court Denies U.S. Request to Reconsider Tossing Bank of America Fine

    Wall Street Journal

    An appellate court on Monday declined to reconsider its decision to throw out a mortgage-fraud case against Bank of America Corp., a blow to the Justice Department as it tried to rescue one of its highest-profile cases tied to the financial crisis. Judges for the Second U.S. Circuit Court of Appeals in New York said in a filing that they had considered the Justice Department’s request and would deny it.

  • NEWS HIGHLIGHTS FOR MONDAY - 8.22.16

    By:
    Maya Lindsay
    |
    Aug 22, 2016

    NYSSCPA Members in the News

    Lou Grassi (Nassau)
    Accounting firms grow staff and services
    Buffalo Business First
    Growth-minded CPA firms are taking advantage of baby boomer retirements in their ranks to merge, acquire, specialize and hire their way into a greater share of the market. The strategy coincides with changes in the industry that favor value-added services such as niche consulting. The result is firms that hardly resemble those of the not-so-old days that relied on the traditional staple of tax and audit work.

  • NEWS HIGHLIGHTS FOR FRIDAY - 8.19.16

    By:
    Maya Lindsay
    |
    Aug 19, 2016

    Accounting and Financial News Stories

    Cos. Don’t Meld Accounting for Internal Transactions: Poll
    CFO
    Under 10% of nearly 4,000 mostly accounting and finance professionals say their organizations coordinate how their internal transactions are accounted for, according to to a recent Deloitte poll, indicating a lack of holistic, efficient, and well-communicated intercompany accounting frameworks at many multinationals.

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 8.17.16

    By:
    Maya Lindsay
    |
    Aug 17, 2016

    NYSSCPA Members in the News

    Tammy Straus (Nassau)
    Hain Celestial shares plunge after financial reporting news
    amNewYork
    Shares of Lake Success-based Hain Celestial Group Inc. plunged more than 20 percent Monday after the close of regular trading, following the company’s disclosure that it was evaluating its internal control over financial reporting and that it doesn’t expect to reach its previously announced revenue forecast for fiscal 2016. The organic and natural products company, with brands including Celestial Seasonings, Earth’s Best, Terra and Spectrum, also announced in a statement it was delaying the release of its financial results for its fourth quarter and fiscal 2016, ended June 30.

  • NEWS HIGHLIGHTS FOR TUESDAY - 8.16.16

    By:
    Maya Lindsay
    |
    Aug 16, 2016

    Accounting and Financial News Stories

    The Corporate Income Tax is Most Harmful for Growth and Wages
    Tax Foundation
    One of the biggest debates in economics has been the question of who bears the real economic burden of corporate taxes: shareholders through lower returns, consumers through higher prices, or workers through lower wages. In an essay (here) in today’s Wall Street Journal, economist Kevin A. Hassett and Aparna Mathur review the growing empirical evidence showing that workers bear the true economic burden of the corporate income tax through reduced wages.

  • NEWS HIGHLIGHTS FOR MONDAY - 8.15.16

    By:
    Maya Lindsay
    |
    Aug 15, 2016

    NYSSCPA Members in the News

    Joanne S. Barry – Executive Director and CEO
    People News – Aug. 12, 2016
    Accounting Today
    NEW YORK - Joanne S. Barry, executive director and CEO of the New York State Society of CPAs, received the City and State’s 2016 Corporate Social Responsibility Award.

  • NEWS HIGHLIGHTS FOR FRIDAY - 8.12.16

    By:
    Maya Lindsay
    |
    Aug 12, 2016

    NYSSCPA Members in the News

    Joanne S. Barry – Executive Director & CEO
    NY CPA Leader Honored for Corporate Social Responsibility
    INSIDE Public Accounting
    New York State Society of CPAs (NYSSCPA) Executive Director and CEO Joanne Barry was honored with City and State’s 2016 Corporate Social Responsibility Award for her Sustainability. “It’s an honor to be recognized for the consensus-building work the NYSSCPA has done this year in the effort to establish an integrated accounting framework in the United States as we strive for global financial stability and sustainable development,” Barry says. The CSR Awards in Sustainability recognize outstanding corporate citizens for their work in sustainability – from the construction, energy, transportation and food industries and beyond.