Latest Articles

  • Study: Companies Raise Hiring Standards When Economy is Bad

    By:
    Chris Gaetano
    |
    Aug 21, 2018
    One of the questions that has puzzled economists is why, following the 2008 financial crisis, it took so long to get employment rates back to pre-crisis levels despite large numbers of job openings. A recent study has found that one possible factor was a marked increased in educational and experience requirements taking place at the same time. 
  • Regulatory Roundup: Aug. 15-21

    By:
    Chris Gaetano
    |
    Aug 21, 2018

    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.

  • Appeals Court Backs IRS over AICPA in Preparer Registration Case

    By:
    Chris Gaetano
    |
    Aug 20, 2018
    The U.S. Court of Appeals for the D.C. Circuit has sided with the IRS over the AICPA, allowing the agency to keep its voluntary return preparer program. 
  • SEC Eliminates 'Duplicative' 'Overlapping' or 'Outdated' Disclosure Requirements

    By:
    Chris Gaetano
    |
    Aug 20, 2018
    The SEC, arguing that the current disclosure requirements have become bloated with redundant and obsolete information, voted to introduce a new set of standards that it hopes will reduce compliance costs and simplify procedures. 
  • Elon Musk Admits No One Reviewed Tweet on Taking Tesla Private

    By:
    Chris Gaetano
    |
    Aug 17, 2018
    Tesla CEO Elon Musk, in an interview with the New York Times, said that no one had seen or reviewed his bombshell tweet about taking the company private, which blindsided both regulators and his own board members. 
  • Trump Directs SEC to Study Possibility of Ditching Quarterly Reports

    By:
    Chris Gaetano
    |
    Aug 17, 2018
    President Trump today said he has directed the Securities and Exchange Commission to consider ditching the quarterly reports. 
  • SEC Subpoenas Tesla Over Musk Tweets

    By:
    Chris Gaetano
    |
    Aug 16, 2018
    The Securities and Exchange Commission has subpoenaed Tesla in connection with recent social media posts by its CEO Elon Musk, indicating that it has launched a formal investigation of the company. 
  • FASB Releases New Standard for Long-Term Insurance Contracts

    By:
    Chris Gaetano
    |
    Aug 16, 2018
    The Financial Accounting Standards Board (FASB) has released an accounting standards update (ASU) for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care and annuities.
  • Defined Benefit Plans Find New Life as Tool for Barred Professionals to Qualify for 20 Percent Pass-Through Deduction

    By:
    Chris Gaetano
    |
    Aug 15, 2018
    The 20 percent deduction for pass-through business entities contained in the Tax Cuts and Jobs Act specifically excludes those working in law, architecture, engineering, insurance, financial services, consulting, health, and other professional services. But, according to Bloomberg, some in these fields have found a way to use defined benefit plans to get around the measure's restrictions. 
  • Survey of 42,764 Office Workers Finds Everyone Wants an Office

    By:
    Chris Gaetano
    |
    Aug 15, 2018
    A survey of 42,764 office workers on what kind of workspace would make them the most happy and productive has found that pretty much everyone wants an enclosed, private space, aka an office with a door.