News

A new quiet term, reverse mentoring, and shadow policies add to the list.

The Internal Revenue Service announced today an extension of the current Free File program through 2029 following an agreement that will continue to make the free private-sector tax software available to taxpayers.

Could the new wave of artificial intelligence remove layers of associates and juniors as firms automate more ‘menial’ tasks in search of efficiencies? And what effect could this have on the accounting landscape as we know it today?

The Southern Connecticut State University School of Business recently presented CTCPA Honorary Member Mark Zampino with its “Outstanding Career Service Recognition Award.”

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2024-2025 activity year at its Annual Meeting held at the Aqua Turf Club in Plantsville.

The Connecticut Society of Certified Public Accountants (CTCPA) honored Avon resident Drew G. Andrews, CPA of Whittlesey with the 2024 Jack Brooks Leadership Award at the CTCPA Annual Meeting on May 16. The Jack Brooks Leadership Award is presented annually to a CTCPA member whose personal efforts have advanced the accounting profession and strengthened the organization. It is named in memory of former CTCPA Executive Director Jack Brooks, a loyal champion of Connecticut CPAs.

A new national survey reveals “time” is why more accounting majors and young professionals are skipping over becoming certified public accountants.

Cheshire Academy Chief Financial Officer Matthew Piechota won the National Business Officers Association (NBOA) Will Hancock Unsung Hero Award, recognizing chief business officers who have made extraordinary contributions to their schools. Piechota was one of just nine 2024 recipients internationally.

CFOs and finance leaders share their takes on whether CPA requirement changes are necessary to address talent issues within corporate finance.

Big Four accounting and consulting firm KPMG LLP has named a new managing partner of its Hartford office. Susan Jackson will be the first woman to lead KPMG’s Hartford office when she takes over the role on May 15. She will succeed Tom Daugherty, who became managing partner in April 2017.

CPA financial planners need to talk with high-net-worth clients now about the idea of shifting ownership of millions of dollars in assets before the estate and gift tax basic exclusion is essentially cut in half on Jan. 1, 2026, Bob Keebler, CPA/PFS, said in an AICPA Personal Financial Planning (PFP) Section webcast.

While many accountants are determined to stay as far away from artificial intelligence as possible, others have found ways to use the technology to yield tangible benefits for their firms (see "Accounting's reluctant AI revolution").

What it takes is more nuanced than simply offering more money or fewer hours.

Is the typical office day still alive and kicking? Or is the working world leaving it behind? Jon Dudgeon of Blu Sky explains why the 9 to 5 just isn’t for him.

CTCPA Past President Greg Lainas recently served as a panelist at the Institute of Management Accountants (IMA) NorthEast Regional Council (NERC) Student Leadership Conference held at Salve Regina University in Newport, Rhode Island. The conference was geared toward accounting, finance, and business students and those just starting their careers. Participants had an opportunity to engage with professionals like Greg who were eager to share their advice for starting a career in accounting or finance.

The salary threshold required to exempt a salaried executive, administrative, or professional employee from federal overtime was increased from $35,568 to $43,888 effective July 1, 2024. The salary threshold will further increase to $58,656 on Jan. 1, 2025.

Congratulations! You’ve decided it’s time to retire. While you may be ready to walk out the door and hang up that 10-key for good, your professional liability risk will not be able to retire when you do. Due to the nature of services provided by CPA firms, claims often arise several years after the service was delivered.

Three CTCPA members received national recognition on Forbes “America’s Top 200 CPAs” list: Drew Andrews of Whittlesey, Lisa Willauer of Fiondella, Milone & LaSaracina, and Heather Ziegler of Deloitte.

The Senate Wednesday passed a bill to regulate artificial intelligence after a passionate debate over whether the rules will protect state residents from the kind of dangers the internet has brought or become unbearable burdens to businesses and stifle innovation.

As of July 1, 2024, an estimated one million employees who are currently salaried, exempt employees in the United States could be impacted by the salary threshold change. These employees, unless there is intervention by their employer, might become eligible for overtime pay under the Fair Labor Standards Act (FLSA) after working 40 hours in a workweek. According to the U.S. Department of Labor (DOL), another estimated three million could be impacted on Jan. 1, 2025.