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2023's major trends in accounting tech: Cloud, automation, AI and more

November 29, 2024

Since March, when the weekly Vendor Spotlight feature first launched, we have showcased 34 accounting solutions providers of all shapes and sizes — a wide variety of companies that, despite their differences, all focus on providing the tools that have become a necessity for any professional looking to guide their clients through the slings and arrows of this outrageous modern economy.

  • business and industry
  • practice management
  • technology and cybersecurity

FinCEN extends BOI reports deadline for certain companies

November 29, 2023

Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule (RIN 1506-AB62) Wednesday extending the deadline for companies created or registered in 2024 to file initial beneficial ownership information (BOI) reports to 90 calendar days from the original 30 calendar days.

  • business and industry
  • practice management
  • boi

CT Democrats pledge to keep on path to phasing out new gas cars

November 28, 2023

With choreographed expressions of contrition and determination, Gov. Ned Lamont and Democratic legislative leaders acknowledged Tuesday their failure to make a convincing case for phasing out sales of new gasoline-powered vehicles by 2035 and pledged to quickly find a new path forward.

  • advocacy - state

CironeFriedberg, LLP Welcomes Jack Kneisel, CPA as Audit Manager

November 28, 2023

CironeFriedberg, LLP welcomed Jack Kneisel, CPA as Audit Manager. In this role, he will provide audit and accounting services to clients in many industries. Kneisel brings 8 years of audit and accounting experience with a specialization in commercial real estate. He received his Bachelor of Science in Accounting from Elon University and is a Certified Public Accountant in the State of Connecticut. Prior to joining CironeFriedberg, Kneisel was Assurance Manager at a large global accounting firm, where he developed a strong foundation of audit and accounting skills. Tony Cirone, CironeFriedberg’s managing partner, says “We are happy to welcome Jack to our team and look forward to his many contributions providing high level audit services to our clients.”

  • member news

ESOPs: A transition tool to the future

November 28, 2023

The use of employee stock ownership plans as a tool to transition ownership has a number of attractive benefits that may well be overlooked by accounting firms.

  • practice management

IRS surveys tax professionals to help it improve services

November 27, 2023

The IRS is conducting a phone survey to help it improve services to tax professionals and their clients.

  • federal tax

IRS, Security Summit partners launch 2023 National Tax Security Awareness Week focusing on holiday scams, protecting personal information as tax season nears

November 27, 2023

On Cyber Monday, the Internal Revenue Service, state tax agencies and the nation's tax industry – working together as the Security Summit – kicked-off the 8th National Tax Security Awareness Week with tips for taxpayers and tax professionals to avoid scams and protect sensitive personal information.

  • personal financial planning
  • federal tax

Inclusion in accounting: By the numbers

November 26, 2023

The accounting profession is suffering from serious talent shortages, caused by both a slowing pipeline of entry-level accountants and the ongoing leakage of experienced professionals to other industries or to retirement. And yet firms remain slow to grasp the value of diversity, equity and inclusion initiatives for tapping new sources of talent and boosting retention rates.

  • diversity
  • practice management

IRS announces delay in Form 1099-K reporting threshold for third party platform payments in 2023; plans for a threshold of $5,000 for 2024 to phase in implementation

November 21, 2023

Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service today released Notice 2023-74PDF announcing a delay of the new $600 Form 1099-K reporting threshold for third party settlement organizations for calendar year 2023.

  • federal tax

95% of Accountants Satisfied With Current Role

November 20, 2023

Good pay, global job opportunities, and job security topped the list of reasons, according to a ShareFile survey of accountants.

  • business and industry
  • career resources
  • practice management

Art of Accounting: Looking forward to the next 10 years

November 20, 2023

My first thought for a 10th anniversary column was to describe the changes in the last 10 years. A second reaction was to recall my greatest columns. I then realized that looking back or even at the present were exercises in vanity and would not provide any takeaways. To be successful you need to look to the future and be anxious to adopt the changes that are quickly occurring.

  • accounting and auditing
  • practice management
  • federal tax

Demand for GenAI Skills Explodes in 2023

November 20, 2023

More than 10,000 jobs seeking wherewithal in generative AI have been posted so far this year.

  • business and industry
  • practice management

Even as surpluses shrink, CT could see balanced budgets for years

November 20, 2023

New projections show that CT’s revenues will grow faster than fixed costs through 2028

  • advocacy - state

Managing cyber risks to build resilience

November 20, 2023

Many CEOs believe their companies will not be economically viable in a decade from now if they don’t change the ways they use data, PwC’s Global Risk Survey finds.

  • technology and cybersecurity

Connecticut CPAs to Hold 2023 Day of Giving Event to Benefit Connecticut Foodshare and Connecticut Children's Medical Center

November 17, 2023

The Connecticut Society of CPAs (CTCPA) will host a Day of Giving social and collection drive to benefit Connecticut Foodshare and Connecticut Children’s Medical Center at the CTCPA office in Rocky Hill on Tuesday, November 28 (#GivingTuesday) from 8 to 10:00 a.m.

  • press room

Looking for a new job in 2024? What accountants need to know

November 17, 2023

Are you looking to make a professional move in 2024? If so, it is likely you're not alone as competitive pay and more flexible work environments remain top of mind for many of today's accounting professionals.

  • career resources

Connecticut Sees Economic Recovery as Employment Surpasses Pre-Pandemic Levels

November 16, 2023

Connecticut has achieved a significant milestone in its economic recovery from the pandemic, with the latest jobs report indicating a robust increase in employment and a stable low unemployment rate. The Connecticut Department of Labor released the October jobs report, revealing that the state added an estimated 3,700 jobs last month. Additionally, September’s job estimates were revised to show an increase of 3,700 jobs, marking a consistent growth in the labor market.

  • advocacy - state

Gen Z Set to Outnumber Baby Boomers in the Workforce

November 16, 2023

Pivotal culture changes are ahead, as Gen Z workers become a more dominant presence in the workplace.

  • business and industry
  • career resources
  • practice management

Internal auditors optimistic on economy, talent but risks remain

November 16, 2023

Internal auditors are less worried about economic uncertainty and talent availability going into 2024, despite ongoing risks in both areas, with most focus going instead into technology-related areas.

  • accounting and auditing
  • practice management

Municipalities Cautious as State Task Force Weighs Elimination of Car Tax

November 16, 2023

Associations representing Connecticut municipalities expressed skepticism this week of an effort to eliminate the state’s car tax, a deeply unpopular but reliable source of critical revenue for towns and cities.

  • advocacy - state