The accounting profession is undergoing significant changes due to advancements in technology, particularly analytics and generative artificial intelligence. Robert Pawlewicz, assistant professor at the University of Richmond, notes that “the good news is universities that educate future accountants are adapting to this brave new world.” Institutions like Brigham Young University and Indiana University Bloomington are…

Paychex is facing a significant challenge regarding New York’s tax regulations on income apportionment. The New York Department of Taxation and Finance has argued that Paychex’s claim should be dismissed due to an audit settlement that prevents the company from pursuing its case. In a memorandum dated September 6th, the agency stated that Paychex’s assertion…

U.S. consumer borrowing increased in July by the most since November 2022, reflecting jumps in non-revolving debt and credit-card balances. The Federal Reserve reported Monday that total credit outstanding increased $25.5bn, with revolving debt such as credit cards up $10.6bn and non-revolving credit, which includes loans for school tuition and vehicle purchases, up $14.8bn.

According to a report by the National Federation of Independent Business (NFIB), many small business owners are increasingly concerned about taxes, with a quarter labeling them a “critical” problem. This marks a 5% increase since 2018, despite the Tax Cuts and Jobs Act reducing the corporate tax rate from 35% to 21%. Holly Wade, executive…

Marcum LLP has promoted 15 individuals to partner across the U.S., effective September 1st. “These individuals represent Marcum’s dedication to excellence,” commented chairman and chief executive Jeffrey Weiner. “They bring a wealth of experience, skill, and an entrepreneurial spirit. In a rapidly evolving world, they have shown adaptability and dedication to understanding and exceeding our clients’ expectations….

A key barometer of U.S. factories was negative for the fifth straight month in August, signaling the manufacturing side of the economy is still in a deep slump that might not end until after the presidential election. The Institute for Supply Management’s manufacturing index edged up to 47.2 from an eight-month low of 46.8. Numbers…