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Connecticut needs a more equitable tax code and to depend less on property taxes, state lawmakers said at a news conference Wednesday morning at the Legislative Office Building.

To err is human. To seek help is superhuman. Gartner recently asked controllers about how often they or their peers make financial errors, as well as their thoughts on causes. Though survey respondents weren't asked about the significance of the errors cited, 59% acknowledged "several errors per month."

Plan would leave CT budget $100 million over spending cap.

Is coverage available for services related to the CTA? CNA’s accountants professional liability policies generally will cover Professional Services associated with the CTA by an Insured accounting firm, subject to other applicable policy terms, conditions, and exclusions.

Learn how to mitigate the unique risks CPA firms may encounter when delivering CTA compliance/BOI reporting services. A sample engagement letter is included.

A recent survey suggests a combination of changing educational demands and a disproportionate amount of AI upskilling may lead to a knowledge gap among mid-level managers.

CohnReznick recently promoted Cynthia Galamgam and Vikas Thaker to partner.

The Innovative CPA Group (ICG) is thrilled to announce its merger with Acquista & Lazor in Bridgeport, solidifying a dynamic partnership that brings together premier firms to better serve their clients and strengthen their position in the market.

Michael Sabol of MahoneySabol, Drew Andrews of Whittlesey, and CTCPA Marketing and Communications Director Kirsten Piechota were quoted in “Accounting merger activity heats up as aging partners eye retirement, firms look for growth” in the Hartford Business Journal.

MahoneySabol in Glastonbury announced the appointment of Deborah Denno as a Partner in the firm's esteemed Tax Department. With over 35 years of comprehensive experience in providing accounting and tax services to high-net-worth individuals and closely held organizations across various industries, Debbie brings a wealth of expertise and a strong commitment to client care to her new role. "We are delighted to welcome Debbie to our team as a Partner," said James Mahoney, CPA and Managing Partner at MahoneySabol. "Her extensive experience and client-centric approach perfectly align with our firm's commitment to delivering high-quality service and tailored solutions to our clients."

Connecticut Governor Ned Lamont signed a new law that expands the circumstances in which workers can use state-mandated paid sick leave, effective October 1, 2023. The Connecticut Paid Sick Leave Law, originally passed in 2012, provides “service workers” with certain leave entitlements, including paid sick leave. This leave accrues at a rate of one hour for every 40 hours worked, up to a maximum accrual of 40 hours per year. The law also requires service workers be permitted to roll over at least 40 hours of accrued, unused paid sick leave per calendar year.

In Rev. Proc. 2023-29, recently issued by the Internal Revenue Service, the affordability percentage for Affordable Care Act plans has been set at 8.39% beginning in 2024. This marks a significant decrease from the previous 9.12% applicable for 2023. This is the lowest percentage since the inception of the employer mandate which means these plans will cost employers more.

A shift away from fully-in-office jobs continued over the last year, and the trend may well continue, based on research revealing that the large majority of recently formed companies are adopting flexible workweeks.

West Hartford-based firm Gitlin & Company has promoted Kathleen E. McKeon to Partner. She is responsible for a diverse array of tax and accounting services to a variety of businesses and individuals. She joined the firm in 2017 and has 21 years of public and private accounting experience.

Employers in a global survey see a significant gap between employee pay expectations and planned pay, fuelling flight risks for companies.

There's a notable shift in the perception and acceptance of artificial intelligence unfolding within the accounting profession, as a growing number of firms explore the various applications of AI and generative AI, and the improved efficiencies and competitive edge to be gained from them.

Richard Spencer, ICAEW’s director of sustainability, talks to Neil Cutting about the need for finance leaders to view sustainability through a business lens.

Generative artificial intelligence (Gen AI) is a fast-moving train. Perhaps that's why many companies seem unsure about when to hop onboard.

New London county has received a FEMA disaster emergency declaration which allows for the postponement of certain due dates for specific tax filings and tax payments. It also allows for the deduction of casualty losses attributable to emergency declaration within the declared area.

CTCPA Marketing and Communications Director Kirsten Piechota and Sacred Heart University faculty Dr. Danny Pannese and Dr. Benoît Boyer were quoted in an article entitled “Updated CPA Exam Encourages Specialization” in the Fairfield County Business Journal and Westchester County Business Journal.