CPA Never under estimate the value
Dependent care assistance program benefits carried over or available during an extended claims period under special temporary COVID-19 relief provisions retain their status as excludable from employees’ gross income and wages, the IRS explains in a notice.
Source: JOA News
Read More here – IRS clarifies pandemic relief for dependent care assistance programs
A week after opening the Restaurant Revitalization Fund, the US Small Business Administration is sending out a first round of payments totaling $2 billion to more than 16,000 restaurants and other eligible food and beverage providers.
Source: JOA News
Read More here – SBA sending first billion in Restaurant Revitalization Fund payments
Maximum health savings account annual contributions will increase by $50 to $3,650 for self-only and $100 to $7,300 for family coverage for 2022. Inflation adjustments in Rev. Proc. 2021-25 also increase maximum out-of-pocket expenses for high-deductible health plans.
Source: Tax News
Read More here – 2022 HSA, excepted-benefit HRA amounts increase slightly
Maximum health savings account annual contributions will increase by $50 to $3,650 for self-only and $100 to $7,300 for family coverage for 2022. Inflation adjustments in Rev. Proc. 2021-25 also increase maximum out-of-pocket expenses for high-deductible health plans.
Source: JOA News
Read More here – 2022 HSA, excepted-benefit HRA amounts increase slightly
Treasury on Monday provided details and allocations for state, local, territorial and tribal government pandemic relief totaling $350 billion that was established under the American Rescue Plan Act.
Source: JOA News
Read More here – Pandemic government relief: Details, allocations provided
Feelings of “intellectual fraud” could affect an estimated 70% of the U.S. population. For finance leaders, adopting a questioning style and making a specific plan can help.
Source: JOA News
Read More here – 3 ways to defeat imposter syndrome — and build executive presence
The AICPA is requesting that all licensed or registered CPA firms be exempted from forthcoming rules that require beneficial ownership information to be reported by small businesses to the Financial Crimes Enforcement Network (FinCEN).
Source: JOA News
Read More here – AICPA seeks exemption for CPA firms from expected beneficial ownership registry
The Restaurant Revitalization Fund received more than 186,000 applications from restaurants and other eligible businesses the first two days after its application window opened May 3.
Source: JOA News
Read More here – SBA unveils initial Restaurant Revitalization Fund results
As pandemic relief adds to funding that needs to be considered in a single audit, it’s important to remember that the rules in the Uniform Guidance still prevail.
Source: JOA News
Read More here – Single audit: Pandemic aid and major program determinations
Artificial intelligence and machine learning can drive more efficient operations and more effective growth for manufacturers. Here’s how the technology is being used to monitor for defects, schedule preventive maintenance and improve forecasting accuracy.
Source: JOA News
Read More here – AI presents opportunities for cost optimization in manufacturing
