AccountingDepartment

DECEMBER 2, 2021

At this point in the year, budget season is here (or already begun for you) and 2022 planning is underway. Financial teams usually plan to finalize budgeting for the following year in December and the importance of going into a new year with an established budget cannot be overlooked.

NetSuite 82

NetSuite Account accountant accounted 82

TaxConnex

DECEMBER 2, 2021

Many manufacturers, wholesalers, and distributors believe they have minimal sales tax obligations due to the likelihood of sales tax-exempt transactions. However, there are numerous pitfalls to be aware of. Businesses don’t always fit into a “box” as being only a manufacturer, or only a distributor. Many times, a manufacturer is also a distributor. And the terms wholesaler and distributor are often used interchangeably.

Manufacturing 173

Manufacturing Sales Tax Non-Profits 173

ThomsonReuters

DECEMBER 2, 2021

QUESTION: Our company has a calendar-year cafeteria plan with a premium payment feature, a health FSA, and a DCAP. Shortly after our open enrollment period closed for the 2022 plan year, several employees asked if they could change their 2022 elections. How should we handle election change requests made after open enrollment has ended but before the new plan year has begun?

Tax 97

Tax Account accountant accounted 97

GrowthForceBlog

DECEMBER 2, 2021

6 min read. Well, first, there’s no need to get nervous. Watchdogs are actually a good thing. Here’s why.

Account 80

Account accountant accounted 80

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ThomsonReuters

DECEMBER 2, 2021

IRS Notice 2021-64 (Nov. 30, 2021). Available at [link]. The IRS has issued its 2021 Required Amendments List (RA List) for individually designed qualified retirement plans (including 401(k) plans) and 403(b) plans. This year’s list does not identify any qualification changes that require 401(k) plans to be amended. In fact, it identifies only one change, which only affects financially troubled multiemployer defined benefit plans that received special financial assistance under the American Res

Tax 92

Tax Account accountant accounted 92

Pooley Accounting Services

DECEMBER 2, 2021

It’s been a long day. You were up at 6:00 and at the construction site by 7:00. It’s 10:00 pm, and you’re trying to pull together a proposal for a huge construction project that is due tomorrow. Somehow, the numbers aren’t coming together, plus you aren’t sure what is the best revenue recognition approach to use. Maybe, it’s time to think about accounting professionals or a firm with construction experience to help.

Construction 52

Construction Account accountant accounted 52

ThomsonReuters

DECEMBER 2, 2021

Fact Sheet: EBSA Restores Over $2.4 Billion to Employee Benefit Plans, Participants and Beneficiaries. Available at [link]. The DOL’s Employee Benefits Security Administration (EBSA), the agency that enforces Title I of ERISA, has released a fact sheet announcing its fiscal year (FY) 2021 enforcement statistics. According to the fact sheet, EBSA has enforcement authority over nearly 734,000 retirement plans, 2 million health plans, and 662,000 other welfare benefit plans, covering about 1

audit 52

audit Education Tax Account 52

Withum

DECEMBER 2, 2021

income tax 52

income tax Tax 52

ThomsonReuters

DECEMBER 2, 2021

Christine S. v. Blue Cross Blue Shield of N.M., 2021 WL 4805136 (D. Utah 2021). A group health plan participant sued the plan and its insurer after claims for her child’s residential mental health treatment were denied. The participant argued that the plan improperly classified the treatment as not medically necessary and that it violated the Mental Health Parity and Addiction Equity Act (MHPAEA) by applying more stringent medical necessity criteria to mental health care than to medical/surgical

Utah 52

Utah Tax Account accountant 52

RitaKeller

DECEMBER 2, 2021

“My hope is that when someone has that call to action, they realize that everybody can do something, even if that’s just changing their own thinking. Women have to change the way they think, too. Not just men.”~ Ambassador Melanne Verveer. I think the above quote has a lot of meaning for those working in public accounting. When I do my communication presentation for CPAs, one of my favorite topics is male/female communication.

cpas 8

cpas CPA public accounting Account 8

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