News

4 tips for resetting boundaries when returning to the office

August 06, 2021

The pandemic changed the way many finance professionals work, for better and worse. As some people transition back to the office, this liminal period could be the perfect time to reset your boundaries and achieve your ideal work/life balance.

  • career resources
  • coronavirus
  • practice management

Top 5 Reasons to be a CPA

August 06, 2021

As you now know, the CPA Exam continues to evolve and change. I think it’s time we all take a deep breath and remind ourselves why the CPA license is worth the rigorous journey, CPA Exam changes and all, to this prestigious title: certified public accountant (CPA).

  • career resources
  • practice management

CPA Exam Preliminary Draft Content Survey – Review and Respond by Sept. 7

August 05, 2021

Under the new CPA Evolution licensure model, the CPA Exam will feature a Core and Discipline structure. Over the last several months, the AICPA’s Examinations Team engaged CPA subject matter experts in discussions about potential CPA Exam content that reflects the changing role of newly licensed CPAs. Their insights helped the development of preliminary content for inclusion in each of the Core and Discipline sections. Now it’s time to hear from you. The AICPA invites you to review the draft Core and Discipline section content and share your feedback by September 7 via this survey. The survey will take about 20-25 minutes to complete and will provide the AICPA with vital feedback to developing the new CPA Exam.

  • business and industry
  • career resources
  • practice management

IRS offers further guidance on employee retention credit, even as Congress may end it soon

August 05, 2021

The IRS and the Treasury guidance in Notice 2021-49 deals with how various issues apply to the employee retention credit in both 2020 and 2021, amplifying earlier guidance offered earlier this year in Notice 2021-20 and Notice 2021-23. The new notice explains changes made by the American Rescue Plan Act of 2021 to the employee retention credit that are applicable to the third and fourth quarters of 2021.

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

Newly Issued Employee Retention Credit Guidance Punishes Owner Employees If They Have Living Family Members

August 05, 2021

The IRS issued Notice 2021-49 on August 4th which states that the Employee Retention Credit (ERC), made available for businesses suffering from the COVID-19 crisis, will not be available with respect to wages paid to a majority owner, or such owner’s spouse, if the majority owner has a brother or sister (whether by whole or half-blood), ancestor, or lineal descendant.

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

Governor Lamont Announces Aflac Selected as Claims Administrator for Paid Leave Program, Company Will Bring 150 Jobs to New Offices in Windsor

July 30, 2021

As claims administrator, Aflac will accept applications, determine eligibility, and administer benefits for paid leave. Individuals will have flexible options to submit applications for paid leave, either online, by email, or by calling directly into a customer care advocate.

  • business and industry
  • practice management
  • advocacy - state

Risk-taking is critical for women in accounting: Engage

July 29, 2021

Drawn in by an ad for SAP consultants that read, “Astronauts wanted,” Melanie Kanaka left her comfortable job in accounting at a major conglomerate in Sri Lanka — and almost immediately began questioning the decision.

  • accounting and auditing
  • business and industry
  • career resources
  • diversity
  • practice management

Navigating the Future of Accounting

July 28, 2021

The emergence of technology to serve nearly every facet of accounting, though hastened by the COVID-19 pandemic, has created new concerns for accountants. Chief among them is how can you recognize new opportunities and, perhaps more important still, how can you capitalize on them?

  • accounting and auditing
  • practice management
  • technology and cybersecurity

Rapid change, uncertainty to remain hallmarks of profession, say AICPA leaders

July 28, 2021

The key tactic for CPA firms moving forward, and also what successfully guided many of them through the pandemic, is strategic prioritization, according to a panel of American Institute of CPAs and CPA.com leaders who led the keynote session Wednesday at the 2021 AICPA Engage conference.

  • accounting and auditing
  • practice management
  • technology and cybersecurity

Accounting firms warn clients about ransomware attacks

July 27, 2021

CPA firms are becoming increasingly concerned about clients who have lax cybersecurity in place, making them vulnerable to ransomware attacks like the ones that have been in the news lately.

  • practice management
  • technology and cybersecurity

5 Ways an M&A Can Help Your Firm's Growth Strategy

July 26, 2021

A merger with another firm can actually help yours grow, maybe in ways you didn't expect. Lee Frederiksen of Hinge Marketing explains a few reasons why you may want to consider a merger and acquisition, as well as signs an M&A will only spell trouble for your accounting business.

  • practice management

PKF O'Connor Davies Named to 'Accounting Today' List of 'Best Firms to Work For'

July 26, 2021

Accounting Today and Best Companies Group have announced the members of the 2020 Best Accounting Firms to Work For list.

  • member news
  • practice management

What Can a Firm Do With Increased IT Investment?

July 21, 2021

In this increasingly digital world, every firm leader should recognize the importance of investing in technology. In the past 18 months especially, technology has moved to the forefront of virtually every firm initiative, and firm leaders have recognized that tech is the engine that drives their firms.

  • practice management
  • technology and cybersecurity

Wyden introduces bill to overhaul pass-through deduction and expand to accountants

July 21, 2021

Senate Finance Committee chairman Ron Wyden, D-Oregon, introduced legislation Tuesday to streamline the section 199A deduction for qualified business income for pass-through entities, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

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

How to Balance Helping Clients & Making a Profit

July 20, 2021

Accounting is a service profession, but at a certain point, being too altruistic will hurt your cash flow. In the next installment of her series on why accounting and finance professionals undercharge clients, Billie Anne Grigg explains how to balance the desire to help with the need to make money.

  • practice management

Adapting to workplace culture in a virtual world

July 19, 2021

Helping new employees feel connected from a distance involves your entire firm.

  • coronavirus
  • practice management
  • technology and cybersecurity

Prepare Your Staff for the New Age of Accounting

July 19, 2021

Whether you're hiring new talent, making your next career move, or just want to ensure your firm succeeds over the next few years, it's crucial to ensure you and your team have the right skill set to survive the new age of accounting.

  • practice management

Accounting Methods Are Hot Topics for 2021 Tax Planning

July 15, 2021

The tumultuous 2020 tax year, combined with expected tax increases in the future, make 2021 a key year for tax planning. Ryan Vaughan and Andrew Kosoy of Mazars outline common accounting methods and considerations for business taxpayers regarding such methods.

  • accounting and auditing
  • practice management
  • federal tax

New law gives preference to seniority in worker recall process

July 14, 2021

Connecticut employers who have laid off staff will have to give preference to those same workers when jobs become available again and recall them in order of seniority, according to legislation signed into law by Gov. Ned Lamont this week.

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

More Than Half Of U.S. Companies Plan To Add New Positions In Second Half Of 2021

July 13, 2021

Job seekers will have plenty of options in the coming months, research from talent solutions firm Robert Half shows. According to the "State of U.S. Hiring" survey of more than 2,800 senior managers, 51% of respondents anticipate adding new permanent positions in the second half of 2021, and another 48% plan to fill vacated positions or bring back furloughed employees.

  • business and industry
  • career resources
  • practice management