Posts by Angela Dotson
Law Firms: Take Advantage of the Enhanced Business Meal Deduction Before It’s Gone
By: Kaytee, Rossano At a glance The main takeaway: The long-established 50% deduction on business meals has been temporarily enhanced. Law firms, and other businesses, can now deduct 100% if the meals and beverages fall into the applicable criteria. Impact on your business: Taking clients and prospective talent out for meals is seen as a…
Read MoreMultistate Law Firms Could Have a State Tax Nexus Filing Obligation: 3 Big Questions Answered
By: Julie Chesebro, CPA; Ella Corry, CPA At a glance The main takeaway: Whether your law firm has a multistate presence due to physical office locations, remote employees, or both, you may be required to file a state tax nexus. Impact on your business: Hiring remote employees in new states will likely create state income…
Read More3 Post-Pandemic Challenges Facing Law Firms
At a glance The main takeaway: Overall, the legal industry managed to stay rather resilient the last two years. However, internal disruptions from the pandemic are beginning to catch up to law firms. Impact on your business: Like so many industries, law firms are now faced with fierce competition for retaining and attracting new talent.…
Read More3 Things to Know About PRF Reporting
At a glance: The main takeaway: The U.S. Department of Health and Human Services (HHS) has opened the Provider Relief Fund (PRF) Reporting Portal in preparation for the first reporting period beginning July 1, 2021. Impact on your business: Healthcare and Dental practices that received more than $10,000 in automatic PRF payments before June 30,…
Read MoreCARES Act Reporting Requirements for Provider Relief Funds
The Department of Health and Human Service (HHS) reporting portal for Provider Relief Funds (PRF) opens on January 15, 2020 with the first “use of funds” deadline set for February 15th. In addition to these important dates and others throughout 2021, PRF recipients should ensure they are familiar with the Coronavirus Aid, Relief, and Economic…
Read MoreThe Deadline for MAAP Repayments is Approaching – Is Your Practice Prepared?
From supply shortages to revenue shortfalls, hospitals and healthcare providers have continued to face unprecedented challenges throughout the COVID-19 pandemic. Congress and the Department of Health and Human Services have offered some assistance in funding, primarily through creating the Provider Relief Fund and through expanding other existing funding programs, like the Medicare Accelerated and Advanced…
Read MoreHHS Deems Provider Relief Fund Distributions Taxable
Announcement could affect healthcare practitioners’ tax liability Many medical providers have taken advantage of the Provider Relief Fund, a part of the CARES Act intended to cover certain expenses and lost revenues that healthcare practitioners have incurred as a result of COVID-19 (read our eligibility guidance here). On July 10, 2020, the Internal Revenue Service…
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