News
CTCPA Supports Letter Asking for Bills to be Included in Year-End Legislative Package to Delay BOI Reporting Requirements
December 14, 2023
In a letter addressed to members of the House Financial Services Committee and Senate Banking Committee, the AICPA and all 54 state CPA societies, including the Connecticut Society of CPAs asked that H.R. 4035 and S. 2623, the Protecting Small Business Information Act of 2023, or similar legislation to delay, be included in any year-end legislative package. The bills would delay the Beneficial Ownership Information (BOI) reporting requirement until all three rules under the Corporate Transparency Act have been finalized to specify that all such rules would take effect on the same date.
Connecticut Society of CPAs Women's Awards Program to Honor Outstanding Connecticut CPAs and Finance Professionals
December 14, 2023
(Rocky Hill, CT) – The Connecticut Society of CPAs (CTCPA) will honor 14 outstanding women at the CTCPA Women’s Awards event on Wednesday, January 17, 2024 from 7:30 to 10:30 a.m. at the TPC River Highlands. Awardees will be honored in three categories: Distinguished Service, Women to Watch, and Aspiring CPAs (a new category for 2024). This is the fifth year the CTCPA has honored outstanding females in the profession.
The Big Change Coming to Connecticut Unemployment Compensation Law
December 12, 2023
Effective Jan. 1, 2024, an employee’s receipt of severance pay will now result in disqualification from receiving unemployment compensation benefits for the period of time covered by the payment.
FinCEN extends BOI reports deadline for certain companies
November 29, 2023
Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule (RIN 1506-AB62) Wednesday extending the deadline for companies created or registered in 2024 to file initial beneficial ownership information (BOI) reports to 90 calendar days from the original 30 calendar days.
CironeFriedberg, LLP Welcomes Jack Kneisel, CPA as Audit Manager
November 28, 2023
CironeFriedberg, LLP welcomed Jack Kneisel, CPA as Audit Manager. In this role, he will provide audit and accounting services to clients in many industries. Kneisel brings 8 years of audit and accounting experience with a specialization in commercial real estate. He received his Bachelor of Science in Accounting from Elon University and is a Certified Public Accountant in the State of Connecticut. Prior to joining CironeFriedberg, Kneisel was Assurance Manager at a large global accounting firm, where he developed a strong foundation of audit and accounting skills. Tony Cirone, CironeFriedberg’s managing partner, says “We are happy to welcome Jack to our team and look forward to his many contributions providing high level audit services to our clients.”
Connecticut CPAs to Hold 2023 Day of Giving Event to Benefit Connecticut Foodshare and Connecticut Children's Medical Center
November 17, 2023
The Connecticut Society of CPAs (CTCPA) will host a Day of Giving social and collection drive to benefit Connecticut Foodshare and Connecticut Children’s Medical Center at the CTCPA office in Rocky Hill on Tuesday, November 28 (#GivingTuesday) from 8 to 10:00 a.m.
Take action now to beat burnout
November 13, 2023
As the busy season lumbers into view, Lucy Cohen offers some practical and effective tips to help you banish burnout.
Connecticut Small Business Boost Fund – Low-Interest Loans Tailored to Small Businesses and Nonprofits
November 09, 2023
The average small business loan interest rates range from 5% to more than 11%. High-interest rates and limitations on traditional loans can impede small business owners’ ability to borrow money to reinvest in or expand their businesses. Supported by the Connecticut Department of Economic & Community Development (DECD), the Connecticut Small Business Boost Fund is focused on helping small businesses and nonprofits thrive. This low interest, fixed 4.5%, loan program provides access to flexible funding for capital expenditures and working capital and connects business owners with free support services. Supported by the Connecticut Department of Economic & Community Development (DECD), the Connecticut Small Business Boost Fund is focused on helping small businesses and nonprofits thrive. This low interest, fixed 4.5%, loan program provides access to flexible funding for capital expenditures and working capital and connects business owners with free support services.
Generative AI revolution: How auditors are leading the way
November 09, 2023
Reliance on generative artificial intelligence (GenAI) in the financial reporting space is rapidly expanding, as is reliance on auditors to play a leading role in all aspects of the revolution.
CT businesses will dodge federal unemployment tax hike next year
November 08, 2023
CT repaid $1.2 B borrowed during pandemic to pay jobless benefits.
FinCEN will allow use of identifier in beneficial ownership reporting
November 08, 2023
Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule (RIN 1506-AB49) regarding when a reporting company may use an entity's FinCEN identifier instead of identifying information about an individual beneficial owner when supplying beneficial ownership information (BOI) to FinCEN.
5 Reasons to Network (Even if You Aren't Looking for a Job)
November 06, 2023
Networking can spark dread in even the most savvy and extroverted professionals. That’s why many individuals seem to skip it unless they’re in the first years of their career or in the midst of a career change. The truth is networking proves valuable at all stages of your career—even if you’re not looking for a new job. Here’s why.
5 Surprising Career Paths for CPAs
November 06, 2023
One of the perks of a career as a CPA is that it doesn’t have to be traditional. In fact, CPAs can hold many unexpected roles across diverse industries. If you’re wondering what some of your options are outside of working at a firm or in corporate finance, we rounded up five personas CPAs can adopt and the job roles they fill every day.
CTCPA Supports Comment Letter Calling for an Extension and Expansion in Beneficial Ownership Reporting Requirements
November 06, 2023
CTCPA has joined AICPA and dozens of other state CPA societies to ask the Financial Crimes Enforcement Network (FinCEN) to extend and expand the deadline for beneficial ownership information (BOI) reporting requirements, specifically for Reporting Companies Created or Registered in 2024.
CLA (CliftonLarsonAllen LLP) Announces Career Advancements in Connecticut
November 02, 2023
CLA (CliftonLarsonAllen LLP) announced a number of career advancements, including several members in Connecticut.
AICPA, others call for a one-year extension of BOI report deadline
November 01, 2023
The AICPA and over 50 affiliated organizations recommended in a letter to Treasury's Financial Crimes Enforcement Network (FinCEN) that the agency extend the effective date for the beneficial ownership information (BOI) reporting requirement by one year to give the millions of affected businesses time to learn about the new and complex rules. The letter asked that the scope of the one-year deadline delay include not only new entities created in 2024, but all entities created thereafter and all entities making updates or corrections to their original filings.
Connecticut Releases Guidelines for CPA Exam Credits of Candidates
October 25, 2023
Connecticut has passed four directives regarding CPA Exam credit retention.
Past President Greg Lainas and Wife Appear in New Novel; Book Signing Dec. 7
October 23, 2023
CTCPA Past President Greg Lainas and his wife MaryAnn were mentioned as characters in the new fiction book Rumor of Evil: A Novel by Gary Braver. Maryann appears with her maiden name of Liczek. There will be a book signing at the Southington Public Library on Thursday, December 7 at 6:00 p.m.
Danny Pannese, Benoit Boyer, Paul Iannone Pen 'The Fair Market Value-Fair Value Dichotomy: Valuation Discounts in Recent Shareholder Dissent Cases' for The Value Examiner
October 19, 2023
In shareholder litigation, a frequent issue is whether, under state law, valuation discounts are permissible in determining the value of a minority shareholder’s interest. This article discusses a 2022 Connecticut court case dealing with this subject. It also examines and compares recent disputes in other jurisdictions where valuation discounts became an issue in calculating the appropriate value of minority shares under a fair value standard.
In Memoriam: Past President Larry Gramling
October 18, 2023
CTCPA Past President Larry Gramling passed away on October 17. Larry was an extremely active member of the CTCPA, an enthusiastic champion of the profession, and an integral part of preparing the next generation of CPAs and accounting professionals in our state.