Artificial Intelligence (AI) has emerged as a transformative force, promising to revolutionize industries, enhance efficiency, and improve our daily lives. However, this rapid evolution raises ethical concerns that demand careful consideration. The…
Category: General
Climate migration: Navigating the global challenge
Climate change is one of the most pressing issues of our time, with far-reaching consequences that extend beyond environmental concerns. One significant impact is the phenomenon of climate migration, as changing climate…
Income taxes: 2024 Filing season – what’s new and what to consider
The Internal Revenue Service (IRS) is urging taxpayers to take important actions now to help them file their 2023 federal income tax return next year. The Get ready page on IRS.gov outlines steps taxpayers…
Who audits the auditors: Private company auditors oversight
The auditing process plays a crucial role in maintaining financial transparency and accountability within businesses. Whether a company is publicly traded or privately held, the role of auditors is significant in ensuring…
Does the Federal Reserve maintain accounts for individuals?
Beware of Hoaxes: The Federal Reserve and Individual Accounts In the age of digital misinformation, it is crucial to stay vigilant against false claims circulating on the internet. One recent hoax that…
Navigating Social Security: A Guide to Avoiding Overpayment
Social Security benefits are a critical source of income for many individuals, providing financial support during retirement, disability, or in the event of a spouse’s death. While these benefits are a lifeline…
Qualified charitable distributions allow eligible IRA owners up to $100,000 in tax-free gifts to charity
The Internal Revenue Service (IRS) is reminding individual retirement arrangement (IRA) owners age 70½ or over that they can transfer up to $100,000 to charity tax-free each year. These transfers, known as…
New Treasury analysis highlights how policies to address climate change promote economic growth
The U.S. Department of the Treasury published analysis on how the Inflation Reduction Act, Bipartisan Infrastructure Law, and other federal policies to address climate change can promote economic growth. The analysis by…
Why accountants should understand and utilize ChatGPT
Accountants may find it valuable to understand and utilize ChatGPT, or similar AI-powered language models, to transform their data analysis, reporting, and client interactions. Introduction In the rapidly evolving landscape of accounting…
New York workers take step toward greater pay equity with Pay Transparency Law
The Law requires employers with four or more employees to include the minimum and maximum annual salary or hourly range for compensation in any job advertisement. This month, New York State’s Pay Transparency…