TaxConnex
MAY 6, 2021
There’s always something changing in the world of tax, especially sales tax. And 2021 continues that trend. Here’s a review of some of the recent changes and updates. In the trendiest sales tax news (aside, of course, from Florida finally passing economic nexus legislation), Connecticut lawmakers have proposed a digital advertising services tax similar, experts say, to one recently enacted in Maryland.
ThomsonReuters
MAY 6, 2021
QUESTION: We’ve heard that the surprise medical billing requirements will impact how our company’s group health plan covers emergency services. But do the surprise medical billing requirements apply to any non-emergency services? ANSWER: A number of new patient protection mandates and disclosure requirements were included in legislation passed in December 2020, including surprise medical billing requirements for out-of-network emergency and non-emergency services.
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Withum
MAY 6, 2021
Last month I met a doctor and as what typically happens I find out who his accountant is. This time he did not tell me but said that he knows more than his accountant. Here is some of what I told him.
ThomsonReuters
MAY 6, 2021
It’s been well reported in cryptocurrency circles that Damon Rowe, Executive Director at the IRS Office of Fraud Enforcement, unveiled “Operation Hidden Treasure” at a recent Federal Bar Association virtual tax conference. The long-time veteran of the IRS Criminal Investigation division explained that the office has put together a dedicated team of IRS criminal investigation professionals to work on this operation.
Advertiser: Paycor
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AccountingDepartment
MAY 6, 2021
Free cash flow is a business's thermometer. It measures the financial performance of a business. Specifically, it reveals the cash that a business can make after taking away the purchase of assets, such as equipment and property. It reveals what investors care about most - cash. There are different types of free cash flow. Two of them are unlevered and levered.
MazumaBusinessAccounting
MAY 6, 2021
We work with small business owners and entrepreneurs. Some are seasoned, others are just growing their side hustle. Their skills are varied and they have a wide variety of talents. We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
MAY 6, 2021
Harmon v. Shell, 2021 WL 1232694 (S.D. Tex. 2021). A federal trial court has dismissed breach of fiduciary duty and related claims against a 401(k) plan recordkeeper that allegedly shared participant data with its affiliates for marketing purposes. The class action lawsuit asserted that the recordkeeper shared a wide range of information—including contact information, Social Security numbers, account balances, contribution and investment history, age, and marital status—with its affiliates so th
RitaKeller
MAY 6, 2021
“The contradictions are what make human behavior so maddening and yet so fascinating, all at the same time.” – Joan D. Vinge. As you successfully manage your public accounting firm, you will encounter many contradictions. Here are a few I have observed: You have to be more flexible. You have to have more structure. You must be able to talk in a way that is inspiring and motivating.
ThomsonReuters
MAY 6, 2021
Coronavirus-Related Relief for Retirement Plans and IRAs Questions and Answers (Apr. 27, 2021). Available at [link]. The IRS has updated its Q&As regarding coronavirus-related relief for retirement plans by adding a new section about the partial termination relief provided by the Consolidated Appropriations Act, 2021 (CAA, 2021). Under that relief, a plan is not treated as having a partial termination—and thus is not required to fully vest accrued benefits—during any plan year which include
FraudFiles
MAY 6, 2021
Perpetrators of fraud have plenty of schemes to choose from when cooking up their crimes. The fraud schemes range from petty theft by lower-level employees, all the way up to management cooking up stellar financial statements to dupe investors and lenders. Fraud prevention policies and procedures sometimes have a tendency to focus on the smaller thefts.
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.
ThomsonReuters
MAY 6, 2021
PPACA; HHS Notice of Benefit and Payment Parameters for 2022 and Pharmacy Benefit Manager Standards; Final Rule, 45 CFR Parts 147, 150, 153, 155, 156, 158, and 184, 86 Fed. Reg. 24140 (May 5, 2021); Notice of Benefit and Payment Parameters for 2022 Final Rule Part Two Fact Sheet. Final Rule. Fact Sheet. HHS has released a second set of regulations with 2022 benefit and payment parameters and insurance market and Exchange-related final rules.
ThomsonReuters
MAY 6, 2021
Discounted cash flow approaches are a helpful tool used in US GAAP accounting for valuation and impairment assessments. A discounted cash flow approach involves projecting a stream of cash flows for an item and then applying a discount rate to those cash flows to calculate a single value or a range of values for that item. A discounted cash flow approach is a type of “income approach” or “present value technique,” two terms used frequently in the FASB Accounting Standards Codification®.
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
KROST
MAY 6, 2021
Multinational companies can expect some extraordinary changes in the US and international tax environment – and this time, it may be much more than an increase in rates. While higher US tax rates have been proposed to fund the new Biden administration’s COVID and infrastructure priorities, new international tax proposals may lead to surprise tax bills for multinational companies.
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