Latest Articles

  • Bloomberg Analysis Says Chance of Recession Is 27 Percent Within Next Year

    By:
    Chris Gaetano
    |
    Oct 14, 2019
    An economic analysis conducted by Bloomberg indicates that the chances of a recession within the next 12 months is currently 27 percent.
  • Regulatory Roundup - Oct. 8-14

    By:
    Chris Gaetano
    |
    Oct 14, 2019
    ​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.     
  • EBITDA Metric Losing Credibility Among Institutional Investors

    By:
    Chris Gaetano
    |
    Oct 14, 2019
    Institutional investors are increasingly frustrated with companies' reported EBITDA (earnings before interest, tax, depreciation and amortization), saying that adjustments have gotten so common that, in many cases, the EBITDA appears to be "pretty much just a made up number at this point."
  • NYC Comptroller Scott Stringer Calls For Boards to Adopt 'Rooney Rule' on Diversity

    By:
    Chris Gaetano
    |
    Oct 11, 2019
    New York City Comptroller Scott Stringer, in a recent speech, called on 56 S&P 500 companies to adopt something similar to the NFL's "Rooney Rule," which would require, at a minimum, that the initial list of candidates for board seats and CEO positions include "qualified female and racially/ethnically diverse candidates" and that director searches include candidates from nontraditional environments such as government, academics or nonprofit organizations.
  • IRS Releases Cryptocurrency Guidance on Dealing With 'Hard Fork'

    By:
    Chris Gaetano
    |
    Oct 11, 2019
    The IRS has released its first new cryptocurrency guidance since 2014 on how to account for a situation known as a "hard fork," basically when one cryptocurrency changes its protocol and becomes two. 
  • Study: 400 Richest Families Pay Lower Tax Rate Than Middle Class

    By:
    Ruth Singleton
    |
    Oct 10, 2019
    An analysis by two economics professors has found that, as a result of the Tax Cuts and Jobs Act, America's 400 richest families now pay taxes at a lower rate than people in the middle class.
  • IRS-Commissioned Study Finds Flaws in Public-Private Free File Partnership, But It's Still Cheaper Than Doing In-House

    By:
    Chris Gaetano
    |
    Oct 9, 2019
    A study commissioned by the IRS found that the public-private partnership with for-profit tax software firms to provide free filing options for taxpayers is seldom used, at least partially due to the companies actively steering people away from them. 
  • New IMF Chief Warns of 'Synchronized Slowdown'

    By:
    Chris Gaetano
    |
    Oct 9, 2019
    International Monetary Fund Managing Director Kristalina Georgieva, who took over the institution at the beginning of this month, warned that the global economy is in a state of "synchronized slowdown," at least partially due to trade turmoil from the United States.
  • California Bill Could Affect Nonprofits Across the Country That Donate Medicines

    By:
    Chris Gaetano
    |
    Oct 8, 2019
    A bill in California aimed at preventing charities from inflating their balance sheets through medicine donations could potentially have a national-scale impact, as it applies to any nonprofit that solicits donors in that state. 
  • Corporate Board Elections Becoming More Competitive

    By:
    Chris Gaetano
    |
    Oct 8, 2019
    While for years incumbent board members losing their spots was rare, over just the past few years, the business world has seen a spike in directors failing to win enough support to retain their seats.