Christy Street, Horne, speaks to Anna Grizzle, Bass Berry & Sims, about structuring provider compensation models from a regulatory perspective. The podcast looks at compensation issues in light of the newly issued Stark Law final rules. Sponsored by Horne LLP.
One of the most intriguing and discussed elements of recent tax reform is the creation of Qualified Opportunity Zones, which are economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment. The tax benefits offered by investment in Qualified Opportunity Zones are meant to encourage economic development in these communities, which are officially designated at the state level.
Financial institutions play an important role in our nation’s COVID-19 response and recovery, but are facing some unique challenges as regulations continue to evolve. Our Financial Institutions team hosted a live town hall discussion where we shared the latest insights on:
The forgiveness calculation and required supporting documentation
SBA expectations for lenders
The potential for legislative changes
We hosted a live town hall discussion to help PPP loan recipients navigate the forgiveness application process, including:
The forgiveness application and timeline
The forgiveness calculation and required supporting documentation
The potential for legislative changes
Nexus is defined as a substantial connection to a state that allows the state to tax a taxpayer. Although this may seem pretty straightforward, things can get a little complicated for contractors working on out-of-state jobs. It’s important to determine if your construction company is responsible for state sales tax or income tax before bidding on an out-of-state job to ensure an accurate bottom line on the project and to also ensure compliance with state agencies.
As a dentist do you ever find yourself struggling with the business side of running your practice and/or multiple practice locations? Would you like to be able to visually see both your financial and clinical data in one place?
Buying or selling a dental practice is a major decision with lasting impacts. Dentists rarely turn over the keys and walk away from operations – the process is much more of a transition rather than a transaction.
Episode 1 of Decision Point: America’s long-term care community wants to keep stimulus payments to stay afloat yet facility owners find themselves searching for reimbursable ways to spend. With so many strings attached, learn how you can spend the money and maintain compliance with federal rules and regulations.
The acceptance of federal assistance comes with the responsibility to justify how you spend those funds. In this episode, HORNE’s Audit Manager Hayley Deer describes what you need to do to pass a single audit.
Chris Hannibal, Doctorate of Physical Therapy for Progressive Health, explains how a physical therapy program is a win-win for patients and LTC facility owners. Patients are recovering with no rebounds and facilities can reimburse expenses associated with the program. In this episode, you will learn about a program that has identified symptoms physical therapy directors should look for to establish recovery goals and patient therapy schedules and how to get reimbursed for those allotted therapies.
Increased use of telemedicine puts many long-term care facilities at risk, and cyber-criminals are already targeting healthcare organizations which can adversely impact health information technology, medical communications, and patient and resident safety. Ryan Wallace from HORNE Cyber joins us on this episode to share 5 best practices to help keep your network secure.
In this episode, Brad Pierce of HORNE Cyber talks about how the majority of business owners who have invested in their cybersecurity posture still have a false sense of security. Listen to learn about how you can best protect your organization.
Courtney Bishnoi, Vice President of Quality and Programs at the American Health Care Association and National Center of Assisted Living joins this episode to promote the adoption of safe and effective COVID-19 vaccines. AHCA/NCAL launched the #GetVaccinated campaign as a way to share strategies to improve staff vaccination rates, debunk myths, and share important facts about the vaccine. They have made available important resources you can access at getvaccinated.us.
Dental practice transitions rarely involve the selling dentist “turning over the keys and walking away” from operations. With this in mind, a
dental practice valuation includes the difficult tasks of projecting future operations and discounting those projections to a single and subjective present value.
On Friday, March 5, 2021, the Senate voted 50-49 in favor of an amended American Rescue Plan (President Biden’s $1.9 trillion tax and spending package). This bill was sent back to the House for their vote. Today, March 10, 2021, the House passed the American Rescue Plan and President Biden is expected to sign it into law.
Amie Whittington Dean, Senior Manager in HORNE Healthcare’s Tax practice, created this helpful video explaining who qualifies for Employee Retention Credits and how to go about accessing them.
In the current economic environment, monitoring and managing state and local tax obligations can be a real challenge. Yet for organizations working to protect their revenue and future, it is critical to stay on top of state and local filing requirements.
Across every industry, businesses face complex market trends, economic and governance pressures, and competitive demands. All of those factors have an impact on your liquidity and business growth.
Proper oversight of your business tax situation impacts your ability to mitigate risk, improve the bottom line, manage transactions and pursue opportunity.
Tax rules get more complex every year. Identifying and seizing economic opportunities gets more difficult. Every decision you make impacts your tax situation. HORNE knows the vital impact that proactive tax planning has on your ability to sustain or scale your business, and on your peace of mind.
In the changing economy, risk permeates every part of your operations. Monitoring every potential source of risk, from internal components like technology to the impact of evolving industry regulations can be time consuming and create uncertainties.
M&A can be a realistic approach for growth-oriented companies and investors seeking to accomplish strategic goals, such as consolidating or expanding a geographic footprint, honing product or service offerings, and freeing up resources.
Finance teams in fast-growing public companies are typically focused on revenue growth, cost control and share price appreciation. Your business is constantly meeting new challenges, and the stakes have never been higher. Yet they also have to manage complex and time-consuming SEC and financial reporting requirements.
If you simply are not emotionally ready to sell, if there is still fire in your belly — enough fire to fuel your continued investment in the company — or if you ultimately want to leave the business to family members or employees, then you may not be in a position to sell your business — yet.
With over half of today’s 9.5 million owners of established businesses reaching the retirement age of 50 years old or older it is likely that many of you will be ready to leave your business within the next decade or so.1
According to Paul Simon, there are 50 ways to leave a lover. Not being as creative as Mr. Simon, we’ve only come up with eight ways for owners to leave their companies:
A successful business Exit Plan achieves three important owner goals:
Financial Security. (The business sale or transfer provides the amount of income the owner, and owner’s family, needs after the owner’s exit.)
The Right Person. The owner chooses his or her successor (children, key employees, co-owners or a third party).
Income Tax Minimization maximizes the amount of cash in the departing owner’s pocket.
In this live webinar, our Public & Middle Market team members discussed PPP2 updates, Employee Retention Credit, tax changes and more.
On Friday, November 20, the U.S. Department of Health and Human Services (HHS) published the long-awaited final rules revising regulations related to the Physician Self-Referral Law (known commonly as the Stark Law), the Anti-Kickback Statute (AKS), and the Civil Monetary Penalty Law (CMP).
HORNE can help you bridge the gap between treating your patients and running a practice. We give you access to the clinical and financial data to make quick and informed decisions.
While the COVID-19 situation has been a disruptor to many industries, restaurants have the ability to weather this pandemic by adopting a few best practices.
A vendor master database is common to most companies but is often overlooked and can become rampant with fraud. In part one of this series, we reviewed steps for decreasing the size of the vendor population. With a slimmer vendor master, we are ready to take your review to the next level.
Feeling out of control is not a feeling we like to experience. Reminders, sticky notes and to-do lists are a testament of us striving for control.
On June 11, 2021, the U.S. Department of Labor (DOL) issued a new agenda – one key topic included the fairness of tipped worker pay. While the agenda is specifically related to tipped worker pay on federal contracts, this could be an indicator of wider scale changes for all employees.
Payroll is undoubtedly complex and an administrative burden. The risk of ‘getting it wrong’ comes with a high price. Employers can face fines and penalties from the IRS, state governing bodies and the Department of Labor (DOL), to name a few. Furthermore, payroll mistakes can lead to costly missed opportunities. With that in mind, we would like to highlight a few of the most common [and costly] payroll mistakes you could be making with your in-house payroll.
“That won’t ever happen.” That is what I told my father-in-law, Ralph, every time he wanted to discuss what I should do if he were to pass away before his father did.
With the endless expansion of technological advancements in the past couple of decades, companies are now able to collect enormous volumes of data from all areas of business. Data analytics is the solution to transform all the data into information that can be used to improve your company’s bottom line. Identifying your company’s key performance indicators (KPIs) is the most important part of using data analytics to help achieve your business’s goals. KPIs can have a variety of origins ranging from measuring financial ratios to customer relationships.
Most construction business owners will spend a lifetime making sure their businesses succeed. After all of your hard work, do you really want to leave the fate of your business in someone else’s hands? As it is likely your largest asset, you’ll want to ensure your business is protected through a detailed estate plan. This plan should focus on minimizing estate and gift taxes as well as protecting your wealth for your family.
Statistics indicate baby boomers account for more than 50% of the construction industry. That means half of owners, along with their skills and knowledge, are headed towards retirement. Even more alarming is only half of those owners have a succession plan. If your company faces a disruption or change in ownership it reduces its chance of survival to only a small percentage. Even owners who don’t have an immediate retirement on the horizon need to have a plan.
You’ve done it. You’ve built a booming construction company and now you’re ready to relax. As a business owner, it’s important to plan your exit from the company years in advance to ensure you can depart with confidence. How will your exit impact you and your family?
Less than a year. That’s how long it took a successful construction company to permanently close after the owner unexpectedly passed away. Before his death, the company was thriving. But without a business continuity plan in place, the business didn’t survive a year.
Not sure how to calculate lost revenue for your facility? Join Greg Anderson and Laura Gillenwater in this helpful video for hospitals and health systems.
What actions are most important for hospital administrators to take around Stark and Anti-kickback legislation? Find out in this conversation with HORNE and Friday Firm.
HORNE was recently selected as one of the Top 50 Construction Accounting Firms in the nation by Construction Executive Magazine.
With 1,000+ team members, we serve clients in 48 states and 2 U.S. territories. We focus on construction, cybersecurity, economic recovery, financial institutions, franchise, healthcare, M&A and public & middle market companies.
Not only do our CPAs provide traditional tax and audit services, but HORNE didn’t stop there. We added even more talent & diverse skills to solve our clients’ biggest issues.
Having your “I”s dotted and “T”s crossed is important. But you need more than just compliance. Most business decisions have operational, tax, personal or long-term financial repercussions.
This is an Insights article. We will post it to a test category, industry, and solution.
Under the Coronavirus Aid, Relief and Economic Security (CARES) Act, changes were made to legislation surrounding bonus depreciation on Qualified Improvement Property (QIP), originally established by the 2017 Tax Cuts and Jobs Act (TCJA). This is great news all around but especially for the restaurant industry.
Part of the life cycle of a business is a change in ownership, when an owner or founder sells his or her business.
Many companies and individuals have applied for funds from the Small Business Administration (SBA) 7(a) Relief Loans Paycheck Protection Program (PPP). Our previous communication addresses the recent suspension of the PPP due to inadequate funding. For our clients that did not receive funds or approval prior to the suspension, we will continue to work on completing applications and submitting to lenders in anticipation of additional funds being made available under the PPP.
Businesses today have to make tough decisions and search for funds to keep doors open and employees paid. Many applied for the SBA’s PPP loan to offset losses during the COVID-19 shutdown. The loan offers short-term relief, but there may be another opportunity for businesses to find additional monies in the form of unclaimed Mississippi state tax incentives.
Just as many Paycheck Protection Program (PPP) lenders are beginning to accept forgiveness applications and submit them to the Small Business Administration (SBA) for consideration of partial or full forgiveness, the SBA has announced it will begin requiring a new Loan Necessity Questionnaire for large borrowers.
It has come to our attention that a new email phishing or “spoofing” scheme is being sent to businesses seeking financial assistance due to COVID-19. The emails are an attempt to scam business owners that have applied, or are considering applying, for Paycheck Protection Program loans backed by the U.S. Small Business Administration. These emails may look legitimate and appear to come from your bank.
The COVID-19 pandemic has companies facing a new reality. From keeping your employees and public spaces safe to handling employees who may be sick or been exposed to the virus, there are many questions around how a business should manage these situations. In addition to employee and public safety, HR professionals are navigating the implications of the Families First Coronavirus Response Act as well as considering the impacts of reduced business hours or even a company shutdown.
Over the past year, business owners have been confronted with key decision points related to uncertainty about the COVID-19 pandemic and how to be competitive in the new economic environment. Prices are increasing, consumer spending is up, and customer behaviors have shifted more dramatically in the past year than in recent history.