News

American Rescue Plan tax credits available to small employers to provide paid leave to employees receiving COVID-19 vaccines; new fact sheet outlines details

April 21, 2021

The Internal Revenue Service and the Treasury Department announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

Governor Lamont Announces Bipartisan Agreement To Restore the Unemployment Insurance Trust Fund

April 20, 2021

Governor Ned Lamont, State Representative Sean Scanlon (D-Branford, Guilford), State Representative Holly Cheeseman (R-East Lyme, Salem), legislative leaders, the Connecticut AFL-CIO, and the Connecticut Business & Industry Association (CBIA) today announced details of a bipartisan proposal to restore the Unemployment Insurance Trust Fund and reduce taxes on the majority of Connecticut businesses.

  • business and industry
  • practice management
  • advocacy - state

How to tackle the post-pandemic performance review

April 19, 2021

New workplace realities require a new way of evaluating performance.

  • business and industry
  • career resources
  • coronavirus
  • practice management

Restaurant Revitalization Fund details come into focus

April 19, 2021

The Restaurant Revitalization Fund (RRF) relief program application portal will be tested in a seven-day pilot period ahead of the application launch, the U.S. Small Business Administration (SBA) announced as it revealed key details of the program.

  • business and industry
  • coronavirus
  • practice management

Tips for for-profits applying NFP accounting rules for PPP funds

April 19, 2021

When accounting for Paycheck Protection Program (PPP) loans, for-profit entities may wish to apply the conditional contribution method that has been more commonly associated with not-for-profits’ PPP accounting.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

PwC tops Vault's 2022 'Accounting 50' list

April 16, 2021

Online career resource Vault.com released its 2022 Accounting 50 list, an annual ranking of the best accounting firms to work for based on accounting professionals' feedback, with Big Four firm PricewaterhouseCoopers topping the list.

  • member news
  • practice management

IRS extends penalty relief for pandemic payroll credits

April 14, 2021

To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the IRS.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

Why Managers Are Key to D&I Success at Work

April 13, 2021

When experts make suggestions on how to improve the efficacy of diversity and inclusion initiatives in the workplace, they often focus on what firm leadership can do. But Jina Etienne says that actually might be one of the reasons why D&I programs often aren't as successful as they could be. Instead, they should include middle managers.

  • diversity
  • practice management

U.S. Department of Labor Issues FAQs and Model Notices Regarding COBRA Subsidy

April 09, 2021

On April 7, the U.S. Department of Labor (DOL) issued the first set of agency guidance in the form of Frequently Asked Questions (FAQs) and model notices regarding the 100% COBRA premium subsidy (Subsidy) provided for under the American Rescue Plan Act (Act).

  • business and industry
  • practice management

Connecticut businesses could owe up to $1 billion in unemployment taxes. They want the state to cover it with federal relief funds.

April 07, 2021

Connecticut’s businesses on Wednesday called on the General Assembly and Gov. Ned Lamont to use federal coronavirus relief funds to spare firms as much as $1 billion in unemployment taxes.

  • business and industry
  • coronavirus
  • practice management
  • state tax
  • advocacy - state

1 In 3 Remote Workers May Quit If Required To Return To The Office Full Time, Robert Half Survey Finds

April 06, 2021

A new study by global staffing firm Robert Half shows that about 1 in 3 professionals (34%) currently working from home due to the pandemic would look for a new job if required to be in the office full time.

  • business and industry
  • career resources
  • coronavirus
  • practice management

How to claim the employee retention credit for the first half of 2021

April 05, 2021

The IRS explained the changes to the employee retention credit (ERC) for the first two calendar quarters of 2021 in Notice 2021-23, which amplifies Notice 2021-20.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal

Michael Maksymiw of Marcum Quoted in 'Journal of Accountancy' Article

April 05, 2021

CTCPA Secretary and Marcum LLP Tax Partner Michael Maksymiw, CPA, CGMA was quoted in the April 5 'Journal of Accountancy' article "Keys to Striking an Effective Balance as Manager." Michael manages a remote team of 15 people for Marcum.

  • business and industry
  • career resources
  • coronavirus
  • member news
  • practice management

Fixed Rules for Accountants' Social Media Success

March 29, 2021

Despite the ever-evolving world of social media, there are two fundamental rules of human interaction that guide every successful B2B social media strategy and that never seem to change: be human and be helpful.

  • business and industry
  • practice management

Stress and burnout: Tips for employees and employers

March 26, 2021

Employee stress can damage individuals and business productivity, but there are ways to plan and take action, and measure interventions.

  • business and industry
  • career resources
  • coronavirus
  • practice management

Biden signs PPP deadline extension into law

March 25, 2021

The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal

Senate clears PPP bill, extending loan applications through May

March 25, 2021

The Senate voted 92-7 Thursday to extend the Paycheck Protection Program to the end of May after rejecting two Republican amendments and waiving a budget point of order. The vote cleared the measure that would extend the program, now due to expire on March 31. The House passed the bill 415-3 earlier this month. It next heads to President Joe Biden for his signature.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal

Business leaders rethink office space reduction plans

March 24, 2021

Organisations appear to be scrapping, or rethinking, their plans to cut their use of office space post-pandemic, according to a survey by KPMG.

  • career resources
  • coronavirus
  • practice management

Creating the Capacity for CPAs To Offer More Value

March 23, 2021

Accountants are so busy with existing client work that it feels impossible to learn new skills and deliver new services. It’s important to understand that capacity does not equal time and capacity is not fixed.

  • practice management

M&A Deal Price: Agreeing to Disagree

March 23, 2021

Business leaders who’ve made it through the pandemic mostly intact might be feeling hopeful about a return to some degree of normalcy. Some have already been laser-focused on growth, seizing the opportunity to buy small businesses at a premium. And as a clearer picture starts to form of what 2021 might look like for the economy, an appetite is building for larger purchases.

  • career resources
  • practice management