Accountants, lawyers and boat sellers complain about Gov. Ned Lamont’s plan for $1 billion in new taxes
Facing more than $1 billion in new taxes over the next two years, accountants, boat sellers and others came to the state Capitol Friday to complain to lawmakers about the hikes contained within Gov. Ned Lamont’s budget proposal.
Preparing for the future: Four female thought leaders share insight
Disruption is no longer a theory. It’s not an imaginary future with a “TBA” label waiting to be updated.
Once hailed as unhackable, blockchains are now getting hacked
Early last month, the security team at Coinbase noticed something strange going on in Ethereum Classic, one of the cryptocurrencies people can buy and sell using Coinbase’s popular exchange platform. Its blockchain, the history of all its...
Lamont Asks The Business Community For Help Selling Connecticut
Gov. Ned Lamont asked more than 300 business executives Thursday for their help recruiting businesses and getting the legislature to embrace tolls. The governor who released his first $43 billion two-year budget proposal a week ago said he...
GOP, McCaw spar over tolls, tax hikes in Lamont budget
Gov. Ned Lamont’s budget director, Melissa McCaw, ran the gantlet Wednesday as she discussed tolls and taxes with the legislature’s Finance, Revenue and Bonding Committee. Republican legislators charged the new Democratic governor with straying...
Lamont’s Budget Will Tax Services, Some Goods
“The notion of taxing tax preparation services is fundamentally flawed,” Bonnie Stewart, executive director of the Connecticut Society of Certified Public Accountants, said “as it poses what taxpayers will view as a penalty for filing one’s tax...
Industry pans Lamont's bid to tax professional services
The accounting industry was one of the first industry groups on Wednesday to slam Gov. Ned Lamont's budget proposal that dramatically broadens Connecticut's sales tax on professional services. Lamont's proposed two-year, $43 billion state budget...
CT's bioscience sector has a new strategic plan that industry boosters say could add 6,000 new jobs over the next decade
In his first few years in office, Gov. Dannel P. Malloy sought to make a name for Connecticut in the world bioscience, committing more than $1 billion to recruit faculty, back research, seed startups and build or expand major facilities, mainly...
ASC 606: Trips, Traps, and Troubleshooting
If you’re a private equity-backed CFO, you don’t need us to tell you how challenging and precarious a position that can be. You know the stats — or you’re at least familiar with the anecdotes that color them: post-deal, private equity (PE)...
State-Run Retirement Plan Hires Executive Director
The Connecticut Retirement Security Authority has hired an executive director to manage the controversial state-run retirement plan lawmakers narrowly approved in 2016.

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  Finding the Value in Fair Value

By Gretchen G. Naso, CVA

Over the past 15 years, fair value accounting has evolved to become a part of many private companies’ financial statements. This evolution has not come without controversy. Due to its heavy reliance on assumptions and professional judgment, fair value reporting is dismissed by critics as an art, not a science, and is often considered unreliable.

  Connecticut CPA magazine feature
U.S. Department of Labor’s New Fiduciary Rule Now Applies
Expands definition of investment advice

By George J. Kasper, J.D., LL.M., Pullman & Comley; Member, CTCPA Employee Benefit Plans Interest Group

Last year the U.S. Department of Labor (DOL) released a controversial new fiduciary regulation (the “Fiduciary Rule” or “Rule”) and related exemptions that impact investment advisers to certain retirement plans, IRAs, and other similar arrangements. The Rule has garnered much attention due to its broad application not only to financial institutions and their advisers, but others who provide services to plan sponsors, participants, and retirement account owners as well. In the midst of ongoing debate, legal challenges, and a directive from President Trump, the DOL delayed the Fiduciary Rule “applicability date” until June 9, 2017.

  Connecticut CPA magazine feature
Making Work Work for the 21st Century: Exploring the Benefits of Workflex

By Cassidy J. Solis, Workplace Flexibility Program Specialist, Society for Human Resource Management

The 21st century workplace requires policies and practices that are responsive to employee needs and enable them to have more control over how they accomplish their work and responsibilities. That’s why top employers are making effective and flexible work – or “workflex” – a fundamental part of their strategy to attract and retain the best talent.


  Recovering Losses From Employee Theft and Embezzlement

By Stephen A. Pedneault, CPA/CFF, CFE, Forensic Accounting Services, LLC

Individuals are stealing at an alarming rate, and the subsequent losses range from hundreds of thousands to millions of dollars. Over the past 10 years, the frequency of employee fraud has reached epidemic levels, yet only a fraction of these cases ever become public. Most are quietly resolved – for many reasons, but primarily to avoid negative publicity.