Latest Articles

  • SEC Whistleblower Reports Spiked Last Year

    By:
    Chris Gaetano
    |
    Jan 12, 2021
    The number of whistleblower complaints to the Securities and Exchange Commission saw a sudden and dramatic spike in 2020, which some lawyers and academics are attributing to the larger numbers of people working from home.
  • Tax Advisory Revenues Dropped Last Year

    By:
    Chris Gaetano
    |
    Jan 12, 2021
    While robust demand remains for tax advisory services, a recent report nonetheless says that the revenues they generated dropped in 2020.
  • E-Commerce Sales Reach New Milestone

    By:
    Chris Gaetano
    |
    Jan 12, 2021
    With many stores closed and many people reluctant to shop at the ones still open, American consumers spent $188 billion over the 2020 holiday season online instead, resulting in a 32.2 percent increase from 2019 in web-based sales.
  • Cuomo Speaks on Pandemic, Budget Gap; Proposes Legal Cannabis for Revenue Boost

    By:
    Chris Gaetano
    |
    Jan 11, 2021
    New York Gov. Andrew Cuomo, in his annual State of the State Address on Monday, focused on the pandemic and its economic repercussions, saying that New York is "suffering." New Yorkers "are tired of being abused by Washington," he said, blaming the federal government for spending the last four years "savaging" the Empire State. Cuomo laid the blame for the pandemic squarely at the feet of the federal government, saying that its "gross negligence" is responsible for both a slow response to the virus as well as what he called a failure to recognize it as a national-scale crisis.
  • Regulatory Roundup - Jan. 5-11

    By:
    Chris Gaetano
    |
    Jan 11, 2021
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA's regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.     
  • PPP Formulas Meant Some Sole Proprietors Got Loans of $1

    By:
    Chris Gaetano
    |
    Jan 11, 2021
    Formulas for how Paycheck Protection Program (PPP) loan amounts are calculated led to a number of sole proprietors getting absurdly small loans, sometimes as little as one dollar, and the fear is that this will happen again in the program's second round.
  • Survey: Only 39 Percent Could Afford $1,000 Emergency

    By:
    Chris Gaetano
    |
    Jan 11, 2021
    Only 39 percent of Americans are confident they would be able to come up with $1,000 for an emergency such as a car repair or medical expense.
  • FASB Clarifies: Rate Reform Guidance Applies to Derivatives if Affected by Transition

    By:
    Chris Gaetano
    |
    Jan 8, 2021
    The Financial Accounting Standards Board (FASB) clarified that guidance issued last year concerning the transition away from the London Interbank Offer Rate (LIBOR) does apply to derivatives if they are affected by the transition, even if they don't reference the metric.
  • Federal Govt. Reports First Loss of Jobs in 8 Months

    By:
    Chris Gaetano
    |
    Jan 8, 2021
    The U.S. Department of Labor reported that nonfarm payrolls fell by 140,000 in December, the first time in eight months that the number of jobs shrank, countering previous expectations that the country would see 50,000 more jobs instead.
  • U.S. Holds Off on Plans to Impose Tariffs on French Goods

    By:
    Chris Gaetano
    |
    Jan 8, 2021
    The White House has suspended plans to impose tariffs on $1.3 billion worth of French luxury goods as the government prepares to transition to a new administration.