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AI, machine learning, deep learning: Say what?!?
Artificial intelligence (AI) is already changing the nature of our lives. When you ask Siri for a restaurant recommendation or when you tell Alexa to play your favorite song, you're interacting with AI. AI has also been making its way into the...
Deadline for new depreciation deduction fast approaching
UConn School of Business Congratulates Lawrence J. Gramling on Retirement
The University of Connecticut’s School of Business held a reception in September to celebrate and congratulate Assistant Professor Emeritus Lawrence J. Gramling, CPA upon his September 1 retirement from the faculty. Here, during the brief...
IRS issues guidance on Tax Cuts and Jobs Act changes on business expense deductions for meals, entertainment
The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for any expenses related to...
Research Shows Gen Z is Still Interested in an Accounting Career Path
Is accounting still a relevant and attractive career path? As it turns out, yes. According to a recent report by the International Federation of Accountants (IFAC), “Make Way for Gen Z: Identifying What Matters Most to the Next Generation,” a...
How to Reap Rewards From the New Tax Law
To borrow an old proverb from the farming community, it’s time for tax practitioners to “make hay while the sun shines.” What’s responsible for the favorable climate? The answer: the Tax Cuts and Jobs Act (TCJA). This monumental new tax...
DRS: Pass-Through Entity Tax Estimated Payment Recharacterization Form Released
As a follow-up to prior DRS guidance and Special Notice 2018(4), Guidance on 2018 Estimated Payments for the Newly Enacted Pass-Through Entity Tax , taxpayers should note that forms for pass-through entity tax estimated payment recharacterization...
Lembo, Malloy, both see CT’s budget reserves on the rise
State Comptroller Kevin P. Lembo agreed Monday with Gov. Dannel P. Malloy’s administration that Connecticut could be poised to bolster its budget reserves significantly for a second consecutive year. But even should the state push its Rainy...
CCM: Don't put munis on hook for teacher retirement underfunding
A new report aimed at influencing Connecticut's next governor and legislature argues that municipalities should not be forced to pay for the state's underfunded teachers' pensions, the annual cost of which could surge five-fold to $6.2 billion by...
Will Congress Restrict States’ Right to Tax Remote Sales?
Some members of Congress think they should limit the way states can tax sales by sellers with no physical presence in the state. To that end, Wisconsin Representative Jim Sensenbrenner has introduced the Online Sales Simplicity and Small...