News

Report: It’s going to take CT longer than other states to recover from the COVID recession

September 15, 2021

The COVID recession hit Connecticut’s economy harder than much of the rest of the United States, and it will take longer for the state to recover, according to a new report from policy think-tank Connecticut Voices for Children.

  • coronavirus
  • advocacy - state

Study: Women reporting higher rates of workplace burnout than men

September 15, 2021

Burnout rates in the U.S. workforce remain high, according to a new study from property and casualty insurer The Hartford, and women are increasingly reporting higher rates of job-related exhaustion than men.

  • coronavirus

AICPA offers advice for employee benefit auditors

September 14, 2021

The American Institute of CPAs has released a set of questions and answers to help auditors of benefit plan financial statements deal with this complex field and a revised auditing standard.

  • accounting and auditing

SALT cap rollback for two years debated by House Democrats

September 14, 2021

House Democrats are considering a two-year repeal as one of their potential paths to undoing the $10,000 cap on the federal deduction for state and local taxes.

  • advocacy - federal
  • federal tax

The Importance of Leading With Value in Your Firm

September 14, 2021

Pricing is a crucial part of the modernization process for traditional accounting and bookkeeping firms looking to revamp the way they do business and open themselves up to new value. But views on what Value Pricing is can vary as much as advisory among accounting firms.

  • practice management

The pandemic drives a need for better, deeper forecasting and analysis

September 14, 2021

A recent report from the Institute of Management Accountants discusses how predictive analytics, combined with knowledge of the business and scenario planning, can help organizations make better forecasts.

  • accounting and auditing
  • coronavirus

House Democrats issue tax plan with top corporate rate of 26.5%

September 13, 2021

House Democrats on Monday released a package of tax increases that falls short of President Joe Biden’s ambition, an acknowledgment of how politically precarious the White House’s $3.5 trillion economic agenda is for party moderates.

  • advocacy - federal

IRS recognizes Small Business Week: Resources available to help employers

September 13, 2021

During National Small Business Week, the Internal Revenue Service wants small business owners to know that information and resources to help them understand and meet their tax obligations are available free at IRS.gov.

  • federal tax
  • personal financial planning
  • practice management
  • state tax

$16B in EITC payments in 2020 may have been improper

September 10, 2021

The Internal Revenue Service’s strategy for examining claims for the Earned Income Tax Credit are falling short, with nearly one-fourth of EITC payments estimated to be wrong last year and the IRS focusing its efforts disproportionately on some Southern states.

  • federal tax

5 tips for asking for what you want in today’s workplace

September 10, 2021

You miss 100% of the requests you don’t make.

  • career resources

Diversity in Accounting? Seeing is Believing

September 10, 2021

A recent statement by the AICPA, verbalizing its commitment to creating equal opportunities for the black community in the accounting profession, was both heartfelt and compassionate. Yet, while it is beautiful and worthy of framing on a wall, the question that must be asked is this: Has the AICPA (and other leaders in the profession) done enough to truly create opportunities for black accountants to have equitable opportunities?

  • diversity

Lease accounting: Private companies on the clock after delay

September 10, 2021

In early 2020, the COVID-19 pandemic added another element of business disruption for organizations to manage while the effective dates to comply for FASB's new lease accounting standards were quickly approaching.

  • accounting and auditing

Mandatory Vaccination Policies Get Big Boost (and Mandate) From Government

September 10, 2021

With the Delta variant continuing to surge throughout the country, employers have begun to seriously consider mandatory vaccination policies. On September 9th, we presented a webinar on the topic, pointers of which we will recap below. Shortly after our webinar, the Biden Administration released a COVID-19 Action Plan which combines executive orders with forthcoming regulatory action.

  • coronavirus

Whittlesey Names Gabriel Rosado Manager

September 10, 2021

Whittlesey, a leading assurance, advisory, tax, and technology firm, is pleased to announce the promotions of Gabriel Rosado, CPA to manager.

  • member news

Why IT Services May Threaten CPA Independence

September 10, 2021

The AICPA Professional Ethics Executive Committee (PEEC) issued a revised independence interpretation for practitioners providing information technology services. The revised interpretation clarifies which aspects of providing information technology (IT) services could impair a CPA firm's independence.

  • practice management
  • technology and cybersecurity

Biden announces new vaccine mandates that could cover 100 million Americans

September 09, 2021

President Joe Biden on Thursday imposed stringent new vaccine rules on federal workers, large employers and health care staff in a sweeping attempt to contain the latest surge of Covid-19.

  • coronavirus
  • advocacy - federal

IRS hit with programming bug on COVID-19 tax relief

September 09, 2021

The Internal Revenue Service warned Thursday of a programming issue that’s affecting business taxpayers who need transcripts for requesting COVID-19 employment tax relief.

  • technology and cybersecurity
  • federal tax

8 strategies for getting ahead of the Great Resignation

September 07, 2021

What would you do if 40% of your firm quit next week? While such a mass exodus is highly unlikely — at least all at once — it’s a question that every employer should be asking themselves right now.

  • business and industry
  • coronavirus
  • practice management

Biden administration praises Lamont on COVID rental relief

September 07, 2021

Just two months ago, the pace of processing federal emergency rental assistance in Connecticut was roundly criticized by landlords and tenant advocates. Now, the Biden administration hails it as a model of success.

  • coronavirus
  • advocacy - state

Budgeting for Cybersecurity Requires a New Approach

September 07, 2021

It’s time for CFOs to dump the traditional line-item method to setting cybersecurity spending.

  • business and industry
  • technology and cybersecurity