The ABCs of CAS
Client Accounting Services (CAS) is one of the fastest-growing outsourced services available to small and growing businesses. CAS allows business leaders to focus on their goals, while significantly reducing the time, cost and resources needed
Centers for Medicare and Medicaid Services’ (CMS) New Long Term Care Facility Staffing Requirements
On September 1st, 2023, CMS proposed the Minimum Staffing Standards for Long-Term Care (LTC) Facilities and Medicaid Institutional Payment Transparency Reporting rule. This rule was proposed in response to recent trends of poor employment rates
Understanding the Lifetime Gift Tax
Gifting allows you to transfer wealth to your loved ones during your lifetime, enabling them to enjoy financial security. By taking advantage of the tax exclusion for gifts, you can ensure that your family’s financial
Protecting Your Holiday Cheer: A Guide to Preventing Common Holiday Fraud Schemes
The holiday season is a time for celebration, joy, and generosity. Unfortunately, it’s also a peak period for fraudsters looking to take advantage of the festive spirit. As you prepare to shop for gifts, book
What the New Auditing Rules on Accounting Estimates Mean For You
Statement on Auditing Standards No. 143: Auditing Accounting Estimates and Related Disclosures is effective for 2023 year-end audits. The standard provides auditors updated guidelines on the nature of estimates and how to audit these items.
Navigating the Digital Frontier: The Crucial Role of Vendor Risk Management
In today’s fast-paced and hyperconnected business landscape, organizations rely heavily on outsourcing responsibilities to third-party vendors to streamline operations and meet customer demands. While third-party vendors offer remarkable advantages, they also come with a host
Year End is Quickly Approaching…. Are you Prepared?
Fall is here. The trees are changing colors. Now is the perfect time to start working on your year-end tax planning. We have put together a quick list of items that you can consider to
Potential AI Risks the Professional Service Industry Will Have to Reckon With?
The term “artificial intelligence” has been around for over 50 years; however, it has gained more popularity now than ever before thanks to the release of OpenAI’s ChatGPT. ChatGPT is an advanced chatbot that can
Update on the M&A Industry
In 2021 and 2022 the mergers – and – acquisitions market experienced tremendous activity with sellers experiencing record high multiples for their businesses while at the same time, experiencing higher than normal bottom lines from
Nonprofit Organization Tax Filings: Building the Accounting System to Capture the Right Information
It is not uncommon to see Section 501(c)(3) nonprofit organizations, especially smaller 501(c)(3) nonprofits, not have in place the elements needed within their accounting systems to track various items needed to comply with their tax
Environmental, Social and Governance (ESG) Advisory
In his annual “Letter to CEOs”, Larry Fink, Chairman and CEO of BlackRock, declared that consideration of climate risk is sparking a fundamental reallocation of capital and called on all companies in which BlackRock invests
Latest Guidance on the Single Audit Requirements for Recipients of HHS Provider Relief Funds
On July 15, 2021, HHS released new guidance on the Single Audit requirements for recipients of HHS Provider Relief Funds. Provider Relief Fund expenditures and/or lost revenues will be excluded from the scope of single
