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Important New Tax Guidance from DRS, IRS on Connecticut Hero Payments

April 12, 2024

The Department of Revenue Services and Internal Revenue Service have issued additional guidance on the taxability of Connecticut's Hero payments.

  • coronavirus
  • state tax
  • federal tax

Lamont Announces Funding For Nearly 100 Nonprofits

April 11, 2024

Gov. Ned Lamont traveled to New Britain on Wednesday to announce nearly 100 nonprofit mental health service providers across the state will get more than $35 million in state funding.

  • not-for-profit
  • advocacy - state

Lamont won’t help lawmakers leave gaps in next CT budget

April 11, 2024

If legislators want more funds in core programs, they must close holes as well, the Lamont administration said.

  • advocacy - state

Tax season nears its end, but uncertainties linger

April 11, 2024

The 2024 filing season, which began with a hint of uncertainty, has progressed into one of the smoothest in recent memory — but the uncertainty still exists, fueled by court decisions and pending legislation.

  • state tax
  • advocacy - federal
  • federal tax

Whittlesey’s Lisa Wills Named Elms College Trustee

April 10, 2024

Lisa Wills, CPA has been appointed to the Board of Trustees at Elms College. Lisa is an Elms College alum, graduating with a Bachelor of Arts degree in Accounting and Business Management.

  • member news

AICPA: BOI ruling confuses businesses; enforcement should be delayed

April 08, 2024

The AICPA and over 50 state CPA societies have written to the Treasury secretary and the director of the Financial Crimes Enforcement Network (FinCEN) asking that enforcement of beneficial ownership information (BOI) reporting requirements be suspended until one year after court cases have been resolved.

  • advocacy - federal
  • boi

Susan Martinelli, Kimberly Napp Named to Hartford Business Journal's '2024 Top 25 Women in Business'

April 01, 2024

Two CTCPA members were named to the Hartford Business Journal's 2024 'Top 25 Women in Business' list: Susan Martinelli and Kimberly Napp. '

  • member news

80% of women feel pressure to overperform at work

March 28, 2024

Caba’s recent research reveals the ongoing challenges that women face in the workplace, such as difficulty setting boundaries, reluctance to take time off and feeling pressure to overperform. Caba suggests steps that organisations should take to make the accounting profession more inclusive.

  • business and industry
  • diversity
  • practice management

Governor Lamont Announces New Tourism Campaign Aligning With Connecticut's Brand Theme, 'Make It Here'

March 28, 2024

Governor Ned Lamont today announced the launch of Connecticut’s latest tourism campaign for the spring and summer 2024 travel season. The campaign leans into the state’s new brand theme “Make It Here,” aligning the branding and tourism campaigns with this singular tagline and bringing synergy to efforts encouraging consumers to live, work, and play in Connecticut.

  • advocacy - state

Organizations moving forward with generative AI despite concerns, survey shows

March 28, 2024

Finance leaders are still concerned about the expanded use of generative AI programs, such as ChatGPT and Microsoft Copilot, but more than a quarter of them say that hasn't stopped their organizations from experimenting with the technology, according to a new AICPA & CIMA survey.

  • business and industry
  • practice management
  • technology and cybersecurity

Who calls the shots – the accountant or the client?

March 28, 2024

When a client wants a meeting at their premises but that isn’t the way the accountant likes to work, who should have the final say?

  • practice management

Generative Artificial Intelligence Solutions… Understand Your Risks

March 27, 2024

The artificial intelligence (“AI”) solutions such as OpenAI’s ChatGPT continue to gain popularity. Many CPA firms seek to leverage the use of generative AI to accelerate innovation and increase productivity. As the use of any AI technology is very organization specific, CPA firms need to obtain a solid understanding of their needs and objectives and gain an understanding of how AI works before they can begin to identify what, if any, AI opportunities are the right fit for their firm.

  • practice management
  • technology and cybersecurity

Joe Lieberman Remembered For Integrity, Conviction, And Being ‘Fiercely Independent’

March 27, 2024

Joe Lieberman died Wednesday at 82, reportedly following complications from a fall. He was a Stamford native and centrist Democrat who served four terms in the U.S. Senate and was the Democratic nominee for vice president in 2000 alongside Al Gore.

  • advocacy - state

M&A Pros Confident Deals Will Surge

March 27, 2024

With interest rates taming and the economy doing well, pent-up acquisition demand will likely be unleashed this year.

  • practice management
  • emergency assistance and practice continuation

Recruit, Engage and Retain: Create a Workplace Where Your Employees Will Thrive

March 27, 2024

The WIIFM, the age-old acronym for “What’s In it For Me,” is the mantra of today’s workforce, whether for prospective candidates or long-term employees. Firms are being pressed into looking for creative ways to attract talent and to retain that talent. And with the cost of onboarding a professional rising to the tens of thousands, firms are eager to maximize their return on investment.

  • business and industry
  • career resources
  • practice management

A firm grasp on reality: M&A activity expected to rise

March 26, 2024

With interest rates dropping, mergers and acquisitions (M&A) professionals are expecting the volume of deals to rise over the next six months.

  • practice management
  • emergency assistance and practice continuation

Cybersecurity Action Plan: 7 Tips for Small Business CFOs

March 26, 2024

These practical steps help finance chiefs enhance or build practices to prevent cybersecurity risk.

  • technology and cybersecurity
  • boi

Latest federal budget includes $20 billion rescission for IRS

March 26, 2024

The budget passed by Congress over the weekend officially rescinds $20 billion in long-term spending for the IRS, a move that the Congressional Budget Office (CBO) said will reduce federal revenues and increase the cumulative deficit.

  • advocacy - federal
  • federal tax

Tax season so far: Looking for answers

March 26, 2024

Taxpayers are accessing the IRS website much more this year than last to find the answers they need to file their taxes. The number of visits reached 411,961,000 as of March 15, up 19.3% over the corresponding period in 2023.

  • federal tax

71% of CFOs Plan to Raise Average Pay More Than 4%: Report

March 25, 2024

With core inflation in the U.S. hovering around 3%, the smaller pay increases employers offer workers this year may still outpace inflation.

  • business and industry