Over the past year and a half, the coronavirus (COVID-19) pandemic has affected all sectors of the global economy and society. The impact has perhaps…
Not very long ago, the word robot conjured a vision of a human-like mechanical being moving around and completing tasks. Then robots moved into the…
The Donald J. Trump Foundation was undone by alleged acts of self-dealing involving its namesake, Donald J. Trump, who also allegedly used the foundation to…
ICYMI | The Secure Act Ushers in Sweeping Retirement Plan Changes
Greater Incentives and Flexibility for Employers and Employees
The Setting Every Community Up for Retirement Enhancement (Secure) Act was signed into law on December 20, 2019, with little fanfare. However, the Secure Act…
ICYMI | Remote Work Arrangements
Payroll and Income Tax Issues for Employers and Employees
There has always been a small remote workforce, but for the past year the coronavirus (COVID-19) pandemic and the government-ordered shutdowns that followed made remote…
ICYMI | The Exodus from New York due to COVID-19
Income Tax Residency Considerations
The coronavirus (COVID-19) pandemic has significantly impacted nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local taxation. (Please see…
ICYMI | Social Media Policies Matter
Is Internal Audit Up to the Challenge?
Today, most people use social media to stay connected to each other, especially since the move to remote work caused by the coronavirus (COVID-19) pandemic.…
ICYMI | Reimagining Strategic Vision for Nonprofits
Evaluating Everything After COVID-19
In Brief The not-for-profit organizations that have weathered the storm of COVID-19 the best are those that have reimagined the organization's mission, strategic vision, and…
ICYMI | Pandemic Perceptions
Accounting Firms’ Organizational Support during COVID-19
The onset of the coronavirus (COVID-19) pandemic forced many CPA firms to mandate work-from-home arrangements for their employees. How has this sudden shift in the…
In Brief Public health measures taken to mitigate the spread of the coronavirus (COVID-19) pandemic have upended business operations and processes. Auditing is no exception;…
Index of Help Wanted On Line (HWOL) Ads The chart above illustrates the magnitude of the difference between the unemployment rate and help wanted ads…
The idea of “peer-to-peer electronic cash” was introduced in a white paper by the mysterious “Satoshi Nakamoto” in 2008. (Readers who are curious may enjoy…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Professor Ed Ketz of Penn State rightly calls out the large accounting firms, in “The Myth of Independence” (March 2020). He joins a wave of…
Machine learning is an increasingly familiar technology term that encompasses a broad range of applications. Machine learning can enable businesses to sift through large amounts…
Dividend-Protected Stock Compensation Awards
Accounting and Tax Considerations
The recipients of stock compensation awards may be entitled to the dividends that companies pay on their underlying equity shares, while the stock awards are…
Natural Language Processing
Machine Learning Methods in Forensic Accounting
When performing forensic investigations, CPAs often deal with documents that contain a significant amount of textual data. This type of data may be found in…
The State of the Inheritance Tax in New Jersey
Questions about the Decision in Van Riper
Recently, New Jersey repealed its estate tax for residents passing away after December 31, 2017 [New Jersey Statutes Annotated (N.J.S.A.) 54:38-1 (c)(4)]. However, the New…
Remote Work Arrangements
Payroll and Income Tax Issues for Employers and Employees
There has always been a small remote workforce, but for the past year the coronavirus (COVID-19) pandemic and the government-ordered shutdowns that followed made remote…
An Introduction to Blockchain
What Does it Mean for the Accounting Profession?
Bitcoin was introduced to the world under a cloud of mystery in January 2009. A white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, published in 2008 under…
New York State’s New Pass-Through Entity Tax
An Overview of the Key Provisions
When the Tax Cuts and Jobs Act (TCJA) was enacted, it created, for the 2018 through 2025 tax years, an itemized deduction “cap” that limited…
Twenty Questions on the Challenges of Maintaining the Quality of Accounting Education During the COVID-19 Pandemic
Assessing the Impact on Students, Universities, and Employers
Over the past year and a half, the coronavirus (COVID-19) pandemic has affected all sectors of the global economy and society. The impact has perhaps…
The Taxation of Nonfungible Token Transactions
Beware the Implications of Intangible Investments
Most CPAs are likely familiar with cryptocurrencies such as Bitcoin and Ethereum. These currencies are considered fungible, because they can be directly exchanged for other…
Social Media Policies Matter
Is Internal Audit Up to the Challenge?
Today, most people use social media to stay connected to each other, especially since the move to remote work caused by the coronavirus (COVID-19) pandemic.…
In Brief Although many investors in cryptocurrencies like Bitcoin have witnessed great gains in the past year, values have also fluctuated dramatically in short order.…
While we all have ideas about changing the world, there are very few individuals with the resources and capacity to actually bring these ideas about…
Using a Permissioned Blockchain?
Consider Structuring It as a VIE
The adoption of blockchain has grown steadily since the technology was first introduced as a platform to create a decentralized currency, free from the effects…
The crossroads of death and taxes can be baffling for many individuals. The executor or administrator (herein, the “fiduciary”) may be confronted with a bewildering…
Cloud Computing
Friend or Foe?
In Brief Many organizations are moving some or all of the technology operations to the cloud to reap the various benefits such a relationship can…
Leveraging Low-Cost Technology to Attract the Next Generation of Clients
Adapting to a Changing Environment
Providing services for current clients is often easier for CPA firms than recruiting new clients or tailoring existing services. Although CPAs should strive to meet…