Thu.Feb 24, 2022

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Data Sleuth: Using Data in Forensic Accounting Engagements and Fraud Investigations

FraudFiles

It’s time pre-order the most valuable fraud investigation and forensic accounting book you will ever read. I had the privilege of previewing Leah Wietholter’s book Data Sleuth: Using Data in Forensic Accounting Engagements and Fraud Investigations. She has knocked this one out of the park. There is no single book that covers the fraud investigation process for a forensic accountant as thoroughly as this.

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Sales tax and M&A: Don't wait until it's too late

TaxConnex

Mergers and acquisitions (M&A) capture a lot of headlines. The right merger or acquisition can spell fortunes for execs and shareholders and offer great chances to cut costs or snap up a valuable but distressed prize company. But sometimes, the deal is held up for various reasons – including sales tax exposure within the company being acquired. Not looking for the unexpected.

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COVID-19 Testing Provider Sues Plans and TPAs for Violating Group Health Plan Coverage Mandate

ThomsonReuters

Diagnostic Affiliates of N.E. Hou, LLC v. United Healthcare Servs., 2022 WL 214101 (S.D. Tex. 2022). A COVID-19 testing laboratory alleged that numerous health plans and TPAs violated the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) by failing to cover the laboratory’s diagnostic tests at a publicly disclosed price of $900 per test.

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Prepare Yourself For Growth and Plan For a Strong Tomorrow

AccountingDepartment

During the COVID pandemic, growth slowed for some and accelerated for others. But now that we are in a post-pandemic world, it is time to kick the growth engine into high gear and accelerate towards a stronger tomorrow.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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What Happens to Unused Amounts in Employees’ HRAs When Their Employment Terminates?

ThomsonReuters

QUESTION: Our company is thinking about adding an HRA that would be integrated with our major medical plan. Employees could carry over their HRA balances from year to year. What happens to those balances when an employee’s employment terminates? ANSWER: Your company has some choices about what will happen to HRA balances remaining at termination of employment.

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You Can’t Fix Your Pricing Problem Without Doing THIS First

GrowthForceBlog

6 min read. In a retail business, pricing is fairly straightforward. You know how much you pay wholesale for a product, so you can add a markup to ensure you have an ample profit margin that allows you to cover your nut and still turn a profit. In a service business, however, pricing is not as clear-cut because determining the costs you actually incur when providing a service is challenging.

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10 Ways New Business Clients Can Keep Good Books

Accounting Web

Bookkeeping 10 Ways New Business Clients Can Keep Good Books.

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New Alabama Legislation to Exempt Federal COVID Benefits from Alabama Income Tax

Dent Moses

Yesterday, Alabama House Bill 231 and Alabama Senate Bill 152 were forwarded to Governor Kay Ivey for signature. This legislation, when signed, will effectively exempt from state income taxes certain federal benefits that taxpayers received from the American Rescue Plan Act last year, a coronavirus relief bill passed by Congress. The exemption applies to the enhanced federal child tax credits, earned income tax credits, and dependent care tax credits that households received from ARPA, which was

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How to Keep Your Remote Employees Engaged

Basis 365

While remote work has become the norm since the pandemic in 2020, we here at Basis 365 are well accustomed to it. However, not having that in-person interaction requires us to do a few things differently. So we've detailed a list of ways that you can implement to help keep your remote team engaged and still feeling like part of the company no matter where they are located. 1.

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Utah State Tax Updates

Withum

For the latest news and updates on Utah state and local tax. February 25, 2022. Utah Seeks to Lower Income Tax Rates and Improve the State EITC Program. On February 11, 2022, Utah’s Governor Spencer Cox signed S.B. 59. This bill lowers the corporate and individual income tax rate to 4.85% from 4.95%. Additionally, it provides a nonrefundable EITC credit of 15% of the Federal EITC claimed.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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IRS Proposes Restatement of Required Minimum Distribution Regulations to Incorporate SECURE Act Changes

ThomsonReuters

Required Minimum Distributions, 26 CFR Parts 1 and 54, 87 Fed. Reg. __ (Feb. 24, 2022). Available at [link]. As we were preparing this week’s edition of the EBIA Weekly, the IRS released proposed regulations that would restate the required minimum distribution (RMD) rules to incorporate changes made by the SECURE Act (see our Checkpoint article ).

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What is the purpose of a business plan?

Wellers Accounting

James Tillotson FCA explains why you should use an advisor to establish a viable plan for your start-up.

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Court Rules That Health Plan’s Informational Phone Calls May Have Violated Telephone Consumer Protection Act

ThomsonReuters

Fiorarancio v. Wellcare Health Plans, Inc., 2022 WL 111062 (D.N.J. 2022). Available at [link]. A federal trial court has interpreted the Telephone Consumer Protection Act (TCPA) to allow an individual to pursue TCPA claims against a HIPAA-regulated health plan that left 20 plan-related voicemail messages over a span of 11 months. The individual alleged that the health plan violated the TCPA in two ways: by calling a phone number that he had listed with the National Do Not Call (NDNC) registry,

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What to include in the preparation of monthly management accounts?

Wellers Accounting

Joe Lennon FCCA highlights the different reporting elements and benefits of management accounts.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Many Concerns

RitaKeller

“The best way to escape from a problem is to solve it.” – Alan Sporta. One of the most educational and helpful activities I have experienced in building my knowledge of CPA firm management was the opportunity to meet with groups of managing partners from various firms across the country and listen to them discuss their biggest concerns.