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News

The Trusted Professional | NYSSCPA

 
 

Advocacy

  • Society raises red flags on SEC’s crowdfunding regs

    By:
    CHRIS GAETANO
    |
    Mar 6, 2014
    The NYSSCPA expressed some concern that a proposal from the Securities and Exchange Commission (SEC) regarding crowdfunding—a fundraising tactic in which small amounts of capital are solicited from a large number of sources—could reduce transparency and security and may ultimately open up numerous avenues for fraud by unscrupulous entrepreneurs. 

  • NYSSCPA Members Offer Free Tax Advice

    By:
    RICHARD J. KORETO
    |
    Feb 24, 2014
    Continuing a long tradition, Society members are once again are sitting on tax advice panels at various newspaper offices around the state. In mid-February, members gathered at the offices of Newsday to take questions that ranged from simple yes/no situations to highly complicated scenarios that would require further investigation. Sometimes the CPAs gave welcome news, and sometimes disappointing news, but they always left the taxpayers more enlightened.

  • Society Gives FASB Input on Financial Instruments and Other Plans

    By:
    Chris Gaetano
    |
    Feb 16, 2014
    The NYSSCPA weighed in on several proposals from the Financial Accounting Standards Board (FASB) as part of a recent spate of comment letters. In a letter released on Dec. 19, the Society responded to the FASB proposal, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements,” a measure aimed at reducing the cost and complexity of incremental reporting for development-stage entities, or entities that devote substantially all of their efforts to establishing a new business, and for which planned principal operations have not commenced or have not generated significant revenue. 

  • Nonprofit Revitalization Act Signed

    By:
    ROBERT BUSWEILER
    |
    Jan 14, 2014
    Governor Andrew Cuomo signed the Nonprofit Revitalization Act into law on Dec. 18. The bill, the first major overhaul of the state’s charities laws in more than four decades, was overwhelmingly passed by both the State Senate and Assembly before the legislative session ended in June.
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