Thu.Dec 09, 2021

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Sales Tax Obligations for Manufacturers and Wholesalers, Part 2: Monitoring Nexus Thresholds on Sales From Your Own Website

TaxConnex

Wholesalers and manufacturers/distributors have some big advantages regarding sales tax compliance – but they can also have hidden obligations. Wholesalers generally don’t sell to the public but there are times, especially within the last few years, where many wholesalers have added shopping carts to their own websites to catch the small number of consumers that may want to shop direct.

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IRS Responds to Request for Expansion of HDHP-Compatible Coverage

ThomsonReuters

IRS Information Letter 2021-0023 (Aug. 18, 2021). Available at [link]. The IRS has released an information letter responding to a request for guidance that would expand the medical care that may be provided by a high-deductible health plan (HDHP) before the minimum annual deductible has been satisfied. As background, individuals who wish to make or receive HSA contributions must be covered by a qualifying HDHP and have no impermissible coverage.

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How Revenue Forecasting Gives A Business A Glimpse Into The Future

AccountingDepartment

Financial forecasting is always important for any business. It allows you to know what's coming down the road. Specifically, revenue forecasting allows you to know your financial standing, identify risks, identify trends and make adjustments to your business plan. It identifies potential problems down the pipeline and with this knowledge, companies can make adjustments to avoid risk.

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No Penalties for “Late” COBRA Notice Provided During COBRA-19 Outbreak Period

ThomsonReuters

Anglim v. Sharp Med. Staffing, LLC, 2021 WL 5741961 (D. Neb. 2021). Available at [link]. A former employee sued her employer for violating the COBRA notice requirements and failing to enroll her in COBRA coverage under its group health plan. Following her termination in March 2020, the employee allegedly called the employer repeatedly about COBRA enrollment and sent a $3,600 check for COBRA coverage, despite not having received an election notice.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Cybersecurity Precautions CEOs Need to Take Now to Avoid Lost Profit

GrowthForceBlog

7 min read. Every CEO’s worst nightmare: your client’s portal was hacked ! Here’s your next move….

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Are Gifts to customers and business associates deductible expenses?

Ronika Khanna CPA,CA

Giving gifts to clients or customers can be a great way to build goodwill, create customer loyalty and differentiate yourself from your competition. Gifts can be anything from a simple bouquet of flowers to something a bit more personalized based on your knowledge of the customer. A gift can be given around the holidays, on birthdays, after closing a sale or any other time as a simple thank you.

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Increasing Fees

RitaKeller

“Every year, review clients and decide who should be culled.” – Bill Reeb, CPA. If you have been at the grocery store lately you have probably been shocked at the increases in prices. I know I have! Suppliers and companies are facing more costs of doing business such as increasing wages and benefits for their employees. So have CPA firms.

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Denial of Residential Mental Health Treatment Benefits Overturned on De Novo Review

ThomsonReuters

Lyn M. v. Premera Blue Cross, 2021 WL 5579710 (D. Utah 2021). Available at [link]. After claims for a child’s residential mental health treatment were denied under an ERISA-covered group health plan, the child’s parents sued the plan and its claims administrator. The trial court upheld the denial, but an appellate court subsequently determined that, because the decisionmaker’s discretionary authority was not mentioned in the SPD or otherwise disclosed, the trial court should have applied the “d

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Why You Should Innovate with Low-Code Automation

Withum

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Infographic: Why You Should Innovate with Low-Code Automation

Withum

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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.