Latest Articles

  • Regulatory Roundup - March 30 - April 5

    By:
    Chris Gaetano
    |
    Apr 5, 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.
  • Treasury Secretary Yellen Calls for Global Minimum Corporate Tax

    By:
    Chris Gaetano
    |
    Apr 5, 2021
    Secretary Treasury Janet Yellen, in a speech Monday to the Chicago Council on Global Affairs,  advocated for an international minimum tax that would discourage venue shopping by multinational corporations to avoid U.S. taxes.
  • Study Finds Some Executives May Be Hired Because, Not Despite, Lack of Ethics

    By:
    Chris Gaetano
    |
    Apr 5, 2021
    A recent study published in the Journal of Business Ethics has found that certain companies deliberately hire executives with "dark personality traits" who are willing to push ethical boundaries that align with organizational objectives, particularly where it concerns earnings management.
  • Supreme Court Decision Opens Door to More Robocalls, Texts

    By:
    Chris Gaetano
    |
    Apr 5, 2021
    The U.S. Supreme Court ruled against a Montana man who sued to stop Facebook from continually texting him security alerts despite his lack of a Facebook account; some legal observers believe this ruling sets a precedent for more robocalls and texts on top of what people already get.
  • NYS Budget Deal Would Lead to Higher Taxes on Millionaires

    By:
    Chris Gaetano
    |
    Apr 5, 2021
    New York state is poised to raise taxes on millionaires as part of its latest budget agreement in response to the economic chaos unleashed by the pandemic.
  • FASB Approves Private Company Relief for Goodwill-Triggering Event Evaluations

    By:
    Chris Gaetano
    |
    Apr 2, 2021
    The Financial Accounting Standards Board (FASB) released an update that gives certain private companies and organizations an accounting alternative expected to reduce the complexity when performing the goodwill-triggering event evaluation.
  • Proposed NYC Bill Would Give Breaks on Unpaid Parking Tickets

    By:
    Chris Gaetano
    |
    Apr 2, 2021
    A measure proposed in the New York City Council would allow people with unpaid parking tickets to only partially pay the fines, the reasoning being that it is better to get at least some of the money owed than none at all.
  • One in Ten Restaurants Have Closed Permanently During the Pandemic

    By:
    Chris Gaetano
    |
    Apr 2, 2021
    A recent report says that, over the course of the pandemic so far, 10 percent of restaurants nationally have closed for good.
  • Firms Adapt to Changed Landscape for Clients, Revenue

    By:
    Chris Gaetano
    |
    Apr 1, 2021
    The global economy this past year has undergone a seismic shift, and as the CPA profession is closely linked with the economy’s ups and downs, its practices are changing, too. In the wake of the pandemic, firms are entering 2021 with significant alterations to their client balances and with revenue streams that have shifted their overall strategic orientation going forward.
  • Career Advancement Continues, Even During Pandemic

    By:
    Chris Gaetano
    |
    Apr 1, 2021
    The rapid shift to remote work—and the attendant loss of face-to-face office interactions—has not affected how CPA firm leaders decide who is ready for a promotion, as being absent from the office carries little to no stigma in the pandemic age.