Thu.Feb 17, 2022

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How Savvy Firms Free Up Capacity, Without Adding Staff

CTP

Talent has always been something that firm leaders have had to manage carefully, but this year seems especially difficult and many firms are wondering what to do about it. Per Monster.com, accounting roles were ranked in the top 10 hardest positions to fill in 2021. And it looks like it might get tougher as we go along. According to the AICPA , over 75% of CPAs will retire in the next 15 years.

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Appellate Court Reinstates Class Action Lawsuit for Plan’s Denial of Speech Therapy for Autism Spectrum Disorder

ThomsonReuters

N.R. v. Raytheon Co., 2022 WL 278537 (1st Cir. 2022). Available at [link]. The minor beneficiary of an employer-sponsored group health plan, with his parents, sued the employer, the plan administrator, and the claims administrator, alleging that the plan’s exclusion of non-restorative speech therapy for autism spectrum disorder (ASD) violated the Mental Health Parity and Addiction Equity Act (MHPAEA).

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AccountingDepartment.com Attends Genius Network 2022

AccountingDepartment

Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.

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What Are Prescription Drug and Health Care Spending Reports and When Are They Due?

ThomsonReuters

QUESTION: We’ve heard there is a requirement to report prescription drug and health care spending to the government in 2022. What are the reporting requirements and when are the reports due? ANSWER: Year-end legislation passed in 2020 requires group health plans and insurers to annually report prescription drug and health care spending, premiums, and enrollment information to the government (see our Checkpoint article ).

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Succession Planning 101 for Skagit County Businesses

SkagitCountyTaxServices

Whether you’re partial to the Olympics or American football, this past week has brought some great athletic entertainment to many Skagit County homes and businesses. As we speak, the U.S. has managed to grab 16 medals – 7 of them gold. Among those gold medal winners is Erin Jackson , the first Black woman to win an Olympic medal in speedskating. And while he didn’t medal, Shaun White made his final snowboarding bow as he placed fourth in the halfpipe contest.

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How does Accounting Automation Boost Customer Satisfaction?

Simple Accounts

Imagine you’re shopping for a new washing machine and the cashier offers you a handwritten bill rather than a detailed invoice. Will you be satisfied with the shop? Will you ever visit the store again or recommend it to someone else? If you are the service provider, consider yourself a customer to work in a customer-friendly manner. Accounting automation aids in building a professional foundation for your company.

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Form 8950 and Instructions Updated for Pre-Submission Conference Requests Under VCP

ThomsonReuters

Form 8950 (Application for Voluntary Correction Program (VCP)) and Instructions (2022). Form 8950. Instructions. The IRS has revised Form 8950 (Application for Voluntary Correction Program (VCP)), and its instructions, to accommodate anonymous pre-submission conference requests under the Voluntary Correction Program (VCP) portion of the Employee Plans Compliance Resolution System (EPCRS).

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Difficult Clients

RitaKeller

“The way to get rich is don’t get sucked into doing dumb stuff for people you don’t like.” – David Maister. I remember when I heard David Maister expand on this theme in one of his presentations years ago. What is sad to me is that CPAs are still providing services to people they do not like or even trust. I think it is time to revisit this type of thinking.

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Forms 1099-NEC and W-9 explained

5 Minute Bookkeeping

Are you feeling unsure about how to fill out Forms 1099-NEC and W-9? When the time of the year rolls around to prepare these forms, you might struggle to remember how exactly to go about it. In this article, I’ll explain how to fill out Forms 1099-NEC and W-9. Form 1099-NEC for Non-Employee Compensation. Non-employee compensation is reported in Box 1.

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Agencies Release FAQs and Another Process Guide About Surprise Billing Independent Dispute Resolution

ThomsonReuters

Frequently Asked Questions Regarding the Federal Independent Dispute Resolution Process (Feb. 2022); Federal Independent Dispute Resolution (IDR) Process Guidance for Disputing Parties (Jan. 2022). FAQs. Process Guide. The DOL, IRS, and HHS have jointly issued FAQs and process guidance for disputing parties to address the independent dispute resolution (IDR) process under the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA) (see our Checkpoint article ).

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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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Improve financial reports with visual business data

ThomsonReuters

Throughout the years, we have shifted to a more visual culture. Americans and global citizens alike hold an expectation that the data they consume will come with a visual element – whether in school, at work, or while experiencing their preferred choice of entertainment. What is visual culture? This phenomenon of a visual culture is defined as the aspect of culture expressed in visual images.