Thu.Mar 24, 2022

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IRS Provides More Guidance for Calculating No Surprises Act’s Qualifying Payment Amount

ThomsonReuters

Notice 2022-11 (Mar. 18, 2022). Available at [link]. The IRS has issued Notice 2022-11 with guidance for calculating the No Surprises Act’s qualifying payment amount (QPA) for items and services furnished in 2022, when a health plan does not have sufficient information to calculate the amount under Revenue Procedure 2022-11. As background, the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA), expanded patient protections to shield individuals from surprise bi

Tax 52
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Impacts of using a marketplace facilitator

TaxConnex

Online sellers hear an endless amount these days about “marketplace facilitators.” What are they? How can they help you? And how can they hurt? A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales by listing their products, while the marketplace facilitator processes payments, collects receipts and in some cases assists in shipment.

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Integrated Procurement Performance Planning and Management in Power BI

Acterys

Given the high volatility of today’s global market, prices have been consistently fluctuating across all upstream and downstream supply chain processes. As a result, demand volume prediction with comprehensive ‘what-if’ analysis for price changes has become more important than ever for supply chain management. The Role of Modern Power BI Procurement Planning Solutions.

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Are You Sure That Expense is Deductible?

Withum

The Tax Court recently denied a deduction for an expense that the taxpayer thought was an ordinary and necessary business expense. The expense was an educational expense for a non-employee, and even though the tax law allows flexibility to taxpayers in deducting business expenses, it does have limits. The tax law regarding business expense deductions allows significant flexibility to taxpayers.

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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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Guidance on Deducting Home Office Expenses

Ronika Khanna CPA,CA

One of the important benefits of having a home based business , assuming you are a freelancer, self employed contractor or small business owner, and not an employee (where a similar deduction is also available) is that Revenue Canada (CRA) and Revenue Quebec allow you to deduct the expenses relating to the space that you use for your home office. This can result in a reduction in your tax bill for costs that you would incur regardless, which is certainly an incentive to being your own boss.

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Women in Labor Unions: Fireside Chat with Shirley Aldebol

Withum

In honor of Women’s History Month, Withum’s Labor Unions Services Partner, Nadia Matthie , sat down with Shirley Aldebol , Vice President of 32BJ SEIU. Shirley is assistant to the President on leadership and staff development and oversees the public schools division in the New York Metro area, which includes more than 5,000 members who work as cleaners and handypersons in New York City’s public schools.

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Markup vs. Margin Formula: What Business Leaders Need To Know

GrowthForceBlog

5 min read. Margin and markup are easily and often confused because both numbers deal with the cost of goods sold, revenue, and the money you actually make on a sale.

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Business Budget Basics Skagit County Owners Should Follow

SkagitCountyTaxServices

Well, it’s now *officially* spring. Of course, that means the end of those cold winter months and the start of warmer, longer days, but it also means the possibility of disruption and stormy weather (especially in the south this week ). And while we sure do love those flowers, we haven’t had much time to stop and smell ‘em. Especially now that we’re less than a month away from the April 18th deadline (yes, you read that right – it’s the 18th this year, because of a DC Holiday, Emancipation Day,

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Homeless Guy Who Murdered Deloitte Consulting Senior Manager Michelle Go Won’t Be Going to Trial Anytime Soon

Going Concern

Martial Simon. According to published reports, psychiatrists at Bellevue Hospital in Manhattan determined after a medical evaluation that Martial Simon, the homeless man who killed 40-year-old Deloitte Consulting Senior Manager Michelle Go while she was waiting for a train inside the Times Square subway station on Jan. 9, is mentally unfit to stand trial.

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Small business federal budget predictions!

Reckon

Get ready folks, when Treasurer Josh Frydenberg steps up on Tuesday 29 March 2022 to deliver a pre-election federal budget, you can bet it will be one to watch. We may not be able to gaze into a crystal ball and pull out the budget facts before they occur, but there’s a lot of information on the ground to sift through. What are the predictions for the 2022 budget?

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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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Feeling Like There Aren’t Enough Hours In the Day? You Might Be a Spuddler

Going Concern

We here at Going Concern are not fans of buzzwords and some might say we pride ourselves on rebuking them. This isn’t to say that criticizing buzzwords is something one should be proud of, rather that we have so few things to be proud of that at least we can cling to this when we look back on our lives and ask “what impact did we have on the world?

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Why email makes accountants’ lives difficult: No Templates

Lockstep

Accounting teams rely on email for so much, it’s ridiculous. These teams depend on email to communicate internally with their teams, and externally with customers, sometimes managing four or more inboxes at a time. Managing today’s accounting email inboxes with limited collaboration capabilities means teams are using Slack, Teams, productivity tools, phone calls, IMs, and smoke signals to close the books.

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What Preventive Services Must Our Group Health Plan Cover Without Cost-Sharing?

ThomsonReuters

QUESTION: Our company sponsors a non-grandfathered major medical plan. How do we know what preventive services must be covered without cost-sharing? ANSWER: The HHS website lists three sets of preventive services (for all adults, women, and children) that must be covered without cost-sharing under the Affordable Care Act (ACA) preventive health services rules.

Tax 52
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Gen Z Management

RitaKeller

“Spend time advising and training your team. Be positive, patient, and practical.” – Mike Monroe. It seems you just got used to managing the Millennials and now you are faced with Gen Z. Gen Z is defined as those aged 10 – 25. Here’s a recap: Gen Z – born 1997 – 2012 – Ages in 2022 10-25 Millennials – born 1981 – 1996 – Ages in 2022 26-41 Gen X – born 1965 – 1980 – Ages in 2022 42-57 Boomers II born 1955 –

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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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Exhaustion Not Required Because Plan Documents Did Not Include Claims Process

ThomsonReuters

Yates v. Symetra Life Insurance Co., 2022 WL 19211 (E.D. Mo. 2022). After her spouse’s death due to a heroin overdose, a participant brought benefit claims under her employer’s ERISA life insurance and accidental death and disability (AD&D) policies, which covered the spouse. The insurer paid the life insurance benefit but denied the AD&D claim, asserting that the policy’s “intentionally self-inflicted injury” exclusion applied.

Tax 52
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Is the Spring Statement 2022 the start of tax cuts?

Wellers Accounting

Tom Biggs ACA CTA , summarises Chancellor, Rishi Sunak's key announcements from the Spring Statement.

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Summit CPA Group to Merge with Anders CPA + Advisors

Summit CPA

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Is Captain America a Tax Cheat?

Withum

Movies tend to overlook or ignore many aspects of everyday life. While I understand that movies require us to suspend our disbelief, as a self-confessed tax nerd, I just can’t ignore the flagrant disregard of tax rules. So, with the 2021 individual tax filing deadline coming up, it had me wondering, is America’s favorite comic book and movie hero a tax cheat?

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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OCR Newsletter Emphasizes HIPAA Security Safeguards Against Phishing, Known Vulnerabilities, and Unauthorized Access

ThomsonReuters

OCR Quarter 1 2022 Cybersecurity Newsletter: Defending Against Common Cyber-Attacks (Mar. 17, 2022). Available at [link]. OCR has released its Cybersecurity Newsletter for the first quarter of 2022, emphasizing some core security safeguards. According to the newsletter, although some cyberattacks may be sophisticated and exploit previously unknown vulnerabilities, most attacks could be prevented or substantially mitigated if HIPAA covered entities and business associates (“regulated entities”)