Latest Articles

  • Study: Automation Linked to Lower Incomes, Higher Chance of Leaving Firm

    By:
    Chris Gaetano
    |
    Feb 13, 2019
    A Boston University study looking at 36,000 companies in the Netherlands has found that automation has the effect of lowering workers' income and increasing the probability they will leave their firm, though the effects were most pronounced for experienced, well-paid employees. 
  • Study: 64 Percent of Controllers Were Encouraged to Cook Books

    By:
    Chris Gaetano
    |
    Feb 13, 2019
    A recent study has found that the majority of controllers have, at some time or another, been encouraged—and sometimes strongly pressured—by their employers to manipulate financial information. 
  • Role of Tech Firms in Audit, Already Significant, Expected to Grow

    By:
    Chris Gaetano
    |
    Feb 12, 2019
    Technology firms such as IBM are increasingly playing a significant role in the audit process, as more and more clients segment out engagements between traditional CPA firms and specialized tech companies, which can better understand the hardware and software that businesses have grown to rely upon. 
  • Study Critiques SEC Pay Ratio Rule, Calls It Disclosure By Soundbite

    By:
    Chris Gaetano
    |
    Feb 12, 2019
    The CEO pay ratio rule that was implemented as part of the Dodd-Frank Act mandates that companies disclose the ratio between CEO pay and median employee pay, and while the ostensible purpose was to shine light on compensation-related governance issues,  two law professors have concluded that, given the vagueness of the rule's requirements, it serves as little more than "click bait" to incite emotions. 
  • Many Early Filers Surprised by Tax Bill Post-TCJA

    By:
    Chris Gaetano
    |
    Feb 11, 2019
    Many early filers used to getting a refund are finding out this year that, due to changes in the Tax Cuts and Jobs Act, they actually owe extra money to the IRS, sometimes for the first time ever. 
  • Lawmakers Propose Legalizing Cannabis on Federal Level

    By:
    Chris Gaetano
    |
    Feb 11, 2019
    Sen. Ron Wyden (D-Ore.) and Rep. Earl Blumenauer (D-Ore) have introduced a bill that, if passed, would legalize cannabis on the federal level, which would have the effect of ending the myriad tax and financial restrictions faced by today's cannabis business owners. The legislation would, at the same time, respect individual state laws regarding the substance.
  • Regulatory Roundup: Feb. 5-11

    By:
    Chris Gaetano
    |
    Feb 11, 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.
  • President Suggests Openness to Changing SALT Cap, But Senate Republicans Disagree

    By:
    Chris Gaetano
    |
    Feb 8, 2019
    The president, in a recent media interview, suggested an openness to changing the state and local tax deduction cap that, as part of the Tax Cuts and Jobs Act, reduced the previously unlimited deduction to a $10,000 maximum.
  • IRS Paid $312 Million to Whistleblowers in 2018

    By:
    Chris Gaetano
    |
    Feb 8, 2019
    The IRS paid a total of $312 million last year to whistleblowers, whose tips allowed the service to collect an additional $1.441 billion. 
  • Complexity of TCJA is Good News for CPA Firms

    By:
    Chris Gaetano
    |
    Feb 7, 2019
    Despite first being touted as a simplification of the tax code, the Tax Cuts and Jobs Act (TCJA) has raised many new questions that often require a CPA's expertise to answer; this, the Wall Street Journal said, has been good news for accounting firms.