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What's New at the Society?

Members Get Unlimited Access to Self Study CPE

 
Unlimited CPE for NYSSCPA Members

Introducing a New Member Benefit!
 
NYSSCPA members now have free unlimited access to CPE courses in our Self Study Course Catalog.
 
"I enjoy the online CPE because it allows for me to stay up-to-date with pertinent accounting issues while studying on my own time. I can pause the sessions and resume at my convenience. I feel the CPE is highly relevant as a majority of the sessions have lecturers who are experts in their field. The online interface that NYSSCPA utilizes is user friendly and allows me to easily sort by topic."
– Greg Kozerski, Jr., NYSSCPA Member

 

The New NYSSCPA Career Center

 
The New NYSSCPA Career Center

Whether you're an employer looking for your next great hire, or a job seeker looking for your next great opportunity, the NYSSCPA Career Center is here to assist you.

Employers: Post Job Descriptions Here
Job Seekers: View Open Positions Here

 

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Get Money Smart

The cost of financial ignorance is high.

Check out these materials and consider attending one of our free events to learn more about taxes, credit, debt, budgeting, the basics of investing and learning activities for children.

 

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The NYSSCPA Technical Helpline

Stumped? Get CPA expertise through the technical helpline!

Email your inquires to technicalhelpline@nysscpa.org.

 

The Latest From Our Publications

Read the May/June 2022 Issue on


CPAJournal.com

As new technologies develop and the economy evolves, the taxation of economic activity must adapt to keep up. New tax laws are passed, and regulators try to adapt the existing tax code to new products and arrangements. In this issue, we take a look at a few such areas on the frontiers of tax policy and planning.

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NextGen



The Trusted Professional

  • Five Chinese State-Owned Businesses Plan to Delist from U.S. Exchanges in Dispute over PCAOB Inspections
    Aug 12, 2022
    Five of the largest state-owned businesses in China announced on Friday that they will delist from U.S. stock exchanges because they don’t want to comply with inspections of their audits by the Public Company Accounting Oversight Board (PCAOB). The companies are China Life Insurance Co., PetroChina Co., China Petroleum & Chemical Corp, Aluminum Corp. of China and Sinopec Shanghai Petrochemical Co.
  • AICPA Asks IRS to Fix Problems with Practitioner Priority Service Phone Line
    Aug 11, 2022
    In a letter to the IRS, the AICPA focused on the long wait times for calls to the agency’s Practitioner Priority Service (PPS) for tax professionals, asking the agency to make improvements.Taxpayers and tax professionals have both complained for a long time about the difficulty of reaching the IRS over the phone, and those complaints have mounted during the COVID-19 pandemic. 
  • D.C. Appeals Court Rules House Committee Can Get Trump Tax Returns
    Aug 10, 2022
    A federal appeals court has ruled that the House Ways and Means Committee is entitled to receive the tax returns of former President Donald Trump that it requested in 2019.The U.S. Court of Appeals for the D.C. Circuit upheld the December ruling of a district court, with the three-judge panel ruling 3-0 in favor of the committee. It ruled that the House committee, which has sought Trump’s tax records for years as part of an inquiry into how the IRS audits presidential income tax returns, had the legal right to obtain them from the U.S. Treasury Department. 
  • Online Prices Drop for First Time in Two Years
    Aug 9, 2022

    Online prices dropped by 1 percent in July over the previous July, ending a two-year-long streak of inflation, according to a report issued by Adobe on Tuesday. Electronics, apparel and toys drove down prices, while food costs remained high.  July is the first month in which e-commerce entered deflation, after 25 consecutive months of persistent inflation. The drop in prices follows an 0.3 percent year-over-year increase in June and a 2 percent increase in May. 
  • Senate Passes Inflation Reduction Act: Here are the Key Tax Provisions
    Aug 8, 2022

    The Senate passed the  the climate and tax legislation known as the Inflation Reduction Act of 2022 on Sunday. The bill includes an investment of about $370 billion to combat climate change and several major tax provisions. The passage came after an all-night session on Saturday, during which senators proposed and voted on numerous amendments. The legislation now moves to the House of Representatives, where it is expected to pass this week, and then to President Joe Biden, who is expected to sign it into law.

TaxStringer

  • Taxation of NFTs: The Hottest Digital Assets, Part 1
    Jul 29, 2022
    Non-fungible tokens (NFTs) were the hottest digital asset class in 2021. They were so hot, in fact, that the Collins Dictionary named “NFT” its 2021 word of the year.[1] An indication of the explosive growth in NFTs was shown by reports that NFT purchases in 2021 increased by more than 11,000% from 2020, generating sales of close to $25 billion.

  • The Status of LLCs in Asset Protection Planning
    Jul 29, 2022

    Limited liability companies (“LLCs”) have become the business entity of choice. The corporation has waned in popularity, likely due to the exposure of corporate stock to shareholder creditors. Although corporations insulate shareholders from “inside” operational liabilities, an indebted shareholder must generally surrender corporate stock to a judgment holder. The judgment holder then often becomes a shareholder (with all shareholder voting and liquidation rights).
  • State Reaction to TCJA Foreign Provisions
    Jul 29, 2022

    After a very rushed flurry of activity in Congress, President Donald Trump signed legislation commonly known by its acronym TCJA (Tax Cuts and Jobs Act). This legislation had many far-reaching provisions affecting individuals as well as businesses. Also included in this legislation were some far-reaching provisions affecting businesses in international commerce.
  • Tax Credits and Incentives to Benefit Growing Businesses Part 2
    Jul 29, 2022

    In part one of this article, we provided an overview of common types of credits and incentives and discussed how these incentives could benefit businesses and business owners. In part two, we will look at common New York State credits and incentives, and some considerations for claiming them.