News
AI Protects State From Cyber Attacks Amid Debate Over Sweeping Regulatory Proposals
April 29, 2024
Amid the debate over how much the state should regulate artificial intelligence in the private sector, state government is being protected from cyber attacks by AI technology that is making security decisions on the spot.
Companies refine M&A retention strategies
April 29, 2024
But a surprising number of employers don’t do a good job of tracking how much they’re actually spending on these retention efforts.
Feds Increase Salary Minimum for Exempt Employees
April 29, 2024
The salary threshold required to exempt a salaried executive, administrative, or professional employee from federal overtime was increased from $35,568 to $43,888 effective July 1, 2024. The salary threshold will further increase to $58,656 on Jan. 1, 2025.
National Small Business Week: IRS.gov offers one-stop shop for small business tax resources
April 29, 2024
The Internal Revenue Service today urged small businesses to take advantage of the many tax resources available through the Small Business and Self-Employed Tax Center on IRS.gov.
To bolster employee wellbeing, employers must look inward
April 26, 2024
New research from Oxford University found that employees do not engage with individual-level wellness interventions. The researcher behind the study says companies should focus on how they plan to improve jobs first.
Drew Andrews, Lisa Willauer, Heather Ziegler Recognized on Forbes' 'America's Top 200 CPAs' List
April 25, 2024
Three CTCPA members received national recognition on Forbes “America’s Top 200 CPAs” list: Drew Andrews of Whittlesey, Lisa Willauer of Fiondella, Milone & LaSaracina, and Heather Ziegler of Deloitte.
Senate Approves AI Bill After Passionate Debate
April 25, 2024
The Senate Wednesday passed a bill to regulate artificial intelligence after a passionate debate over whether the rules will protect state residents from the kind of dangers the internet has brought or become unbearable burdens to businesses and stifle innovation.
U.S. DOL’s Final Overtime Rule Increases Salary Thresholds for Exempt Employees
April 25, 2024
As of July 1, 2024, an estimated one million employees who are currently salaried, exempt employees in the United States could be impacted by the salary threshold change. These employees, unless there is intervention by their employer, might become eligible for overtime pay under the Fair Labor Standards Act (FLSA) after working 40 hours in a workweek. According to the U.S. Department of Labor (DOL), another estimated three million could be impacted on Jan. 1, 2025.
26% of finance leaders expect a dramatic drop in GenAI hype: Poll
April 24, 2024
The hype around AI and new automation tools may be starting to cool off, according to The Daily Balance subscribers.
35% of employees would would take less pay for non-toxic workplace: Report
April 24, 2024
Workplace toxicity can have negative impacts around employee engagement, productivity, and well-being.
CT paid sick leave expansion passes House; heads to Senate next
April 24, 2024
Under the bill, employees would accrue one hour of paid time off for every 30 hours worked up to 40 hours of paid time off in a year
Clients' strangest ideas about taxes
April 24, 2024
Every tax season brings its own craziness — in no small part because of clients' notions about taxes.
DOL finalizes broad ‘retirement security rule’
April 24, 2024
The U.S. Department of Labor (DOL) on Tuesday released final regulations (RIN 1210-AC02) that will subject the financial services industry to new requirements designed to protect retirement investors from receiving bad or self-interested investment advice.
FTC to ban noncompetes
April 24, 2024
Existing noncompetes with senior executives — those who earn more than $151,164 annually and who are in a “policy-making position” — may remain in force.
Feds ban non-compete clauses as CT reconsiders bill to limit them
April 24, 2024
Because of expected legal challenges, proponents of the ban are pushing for state and federal laws to place limits on non-competes
Senate Democrats pass AI bill over Lamont’s objections
April 24, 2024
The Senate Democratic majority defied Gov. Ned Lamont Wednesday night by passing a complex bill intended to put Connecticut at the forefront of evolving national efforts to set standards for the development and use of artificial intelligence.
5 Time-saving strategies for CFOs to unlock greater potential
April 23, 2024
CFOs need to free up the time needed to ably execute on both strategic and tactical levels, according to McKinsey.
Draft of Form 1099-DA for reporting digital asset transactions released
April 23, 2024
The IRS, in its release of the draft of the Form 1099-DA for brokers to report digital asset transactions, includes the broad definition of "broker" used in proposed regulations that drew industry ire when issued in 2023.
Amended AI Bill Moves Forward Amid Industry Opposition
April 22, 2024
Senate Democrats on Monday urged the passage of an amended bill that starts to regulate artificial intelligence as the Judiciary Committee approved the bill and sent it back to the Senate floor.
CT AI bill would set standards, but Lamont remains wary
April 22, 2024
Senate Democrats said Monday they are narrowing a groundbreaking proposal to set standards for the development and use of artificial intelligence in Connecticut, an effort to address Gov. Ned Lamont’s skepticism over a small state playing an outsized role in shaping technology.