Thu.Feb 10, 2022

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Understanding the Pieces to Your Sales Tax Compliance Puzzle

TaxConnex

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules.

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Agencies Report to Congress on Widespread Failure to Comply With Mental Health Parity Rules and Seek Expanded Enforcement Tools

ThomsonReuters

2022 MHPAEA Report to Congress; EBSA News Release 22-89-NAT (Jan. 25, 2022). Report to Congress. News Release. The DOL, HHS, and IRS have issued a pointed report to Congress on the pervasive failure by group health plans to comply with the Mental Health Parity and Addiction Equity Act (MHPAEA). The report is required by the Consolidated Appropriations Act, 2021 (CAA), which expanded mental health parity compliance obligations by requiring health plans and insurers that impose nonquantitative tre

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QSEHRA Plan: Health Insurance Alternative for Qualifying Small Employers

Patriot Software

Do employers have to offer health insurance? Under the Affordable Care Act, you must provide health insurance if you have 50 or more full-time equivalent employees. If this requirement doesn’t apply to you, you might decide to establish a QSEHRA plan. What is a QSEHRA plan? A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is […] READ MORE.

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Agencies Clarify Requirements for Plan Coverage of OTC COVID-19 Tests

ThomsonReuters

FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 52 (Feb. 4, 2022). Available at [link]. The DOL, IRS, and HHS have issued additional FAQ guidance addressing the terms and conditions under which group health plans must cover over-the-counter (OTC) COVID-19 diagnostic tests.

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Planning Your Restaurants 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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6 Helpful Accounting Tips For A Start-Up Company

AccountingDepartment

As with any type of business, proper management of finances, and having a dedicated team or staff to handle said finances, is a critical component to long-term success.

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DOL Reports 2021 Mental Health Parity Enforcement Activity

ThomsonReuters

DOL Fact Sheet: FY 2021 MHPAEA Enforcement; Appendix: MHPAEA Guidance Compendium. Fact Sheet. Appendix. The DOL has issued a fact sheet summarizing 2021 mental health parity enforcement activity conducted by the DOL and the Centers for Medicare & Medicaid Services (CMS). The fact sheet explains the investigation process and provides examples of enforcement actions closed during fiscal year 2021.

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Governor Newsom Signed Two Major Bills: SB 113 – Relating to the Passthrough Entity Elective Tax and SB 114 – Relating to COVID-19 Related Sick Pay

LSLCPAs

On February 9, 2022, Governor Newsom signed the following two bills: SB 113: Passthrough Entity Elective Tax This bill is the much anticipated “fix” to the Passthrough Entity Elective Tax (PEET) Credit. It expands the benefits of making a PEET payment by: Repealing the 7% tentative minimum tax limitation on the PEET Credit. This makes. The post Governor Newsom Signed Two Major Bills: SB 113 – Relating to the Passthrough Entity Elective Tax and SB 114 – Relating to COVID-19 Related S

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What employers should know about voluntary unemployment contributions for rate reductions

ThomsonReuters

In the U.S., unemployment insurance originated in Wisconsin in 1932. And through the Social Security Act of 1935 (SSA), the federal government encouraged individual states to adopt unemployment insurance plans. Currently, there are unemployment insurance programs for all 50 states and in the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

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Starting a Financial Investigation

FraudFiles

How do you start a financial investigation? What would you look at first when analyzing a business? Tracy Coenen talks about some of the important things she would evaluate when starting a case with financial statements and income tax returns.

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Can We Exclude Part-Time Employees From Eligibility for Our 401(k) Plan?

ThomsonReuters

QUESTION: We would like to amend our 401(k) plan to exclude all part-time employees from plan eligibility, regardless of their hours. Can we do that? ANSWER: Employers have considerable freedom to decide which categories of employees can participate in their 401(k) plans, but that freedom is not unlimited. For example, eligibility restrictions must avoid violating the Code’s minimum coverage rules.

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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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Bookkeeping and Accounting Terms: Relevant and Reliable Information

IgniteSpot

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6 Risks That Impact Microsoft Teams Roll Out and Adoption

Withum

I have worked with several organizations that tried to rush their rollout of Microsoft Teams with the recent acceleration of remote and hybrid work. With no surprise, employees will ask many questions that the internal support team will not be prepared for. While Microsoft Teams can speak for itself in some cases with chat and meeting functions, the file collaboration, communication and culture mindset shift is a new ball game for most organizations.

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Internal Control Considerations During Staff Turnover

LSLCPAs

With turnover across the country reaching unprecedented highs, many agencies are experiencing staff shortages and are dealing with unfilled positions. In accounting departments specifically, a single staff member leaving can cause a large problem. If not properly reviewed and planned for, one open position can easily leave gaps in internal controls in even the most.

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