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New Jersey is similar in size to Michigan in population, and Michigan did $3 billion in cannabis sales in 2023, so New Jersey has a lot of growth potential and more CPAs are needed to serve this growing industry.

Forewarned is forearmed -- there are a variety of sources of cyber exposure and potential liability in today s risk landscape, but with a bit of prior planning, accounting firms and professionals can better protect themselves in the event of an attack or claim.

Having an effective governance structure in place allows firms to reduce stress and burnout throughout the organization. This, in turn, correlates to better staff retention, higher profitability and less risk.

Rather than planning for retirement with a permanent mindset, clients would be well-advised to consider a more gradual approach that sustains assets but still permits time to enjoy their later years.

The 2024 NJCPA Convention & Expo, themed “Your Story. Your Success,” informed, entertained and connected more than 600 attendees with storytelling at the Borgata Hotel in Atlantic City on June 11-14.

Balancing tech-fueled efficiency improvements with a human touch will be crucial. Employers must ensure AI augments rather than replaces the human element.

AI's transformative impact on resource management offers public accounting firms a competitive edge in effectively staffing their client engagements. Through enhanced forecasting, dynamic scheduling, skill-based matching and efficiency optimization, AI enables firms to maximize their human capital.

As we move into the latter half of 2024, taxpayers and tax preparers should continue to monitor various state and local tax decisions throughout the U.S. in order to remain vigilant and responsive to the latest developments.

Social Security planning is a multifaceted challenge that requires a deep understanding of the system, strategic thinking and personalized advice. By mastering these aspects, CPAs can help clients navigate their retirement journey.