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Medical Deduction Medical Expenses Richmond CPA

WEBMedical expenses that are not reimbursable by insurance or paid through a tax-advantaged account (such as a Health Savings Account or Flexible Spending …

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Unrelated Business Income Employee Benefit Plans

WEBThe IRC further defines an unrelated trade or business, as “any trade or business regularly carried on by the trust, a partnership, or an S corporation of which the …

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Healthcare CPA Virginia Medical Practice Accounting

WEBFocusing on Profitability. We serve over 100 health services, medical, and dental practices and their physicians in central Virginia. As a medical professional, you can rely on our …

Category:  Medical Go Health

Healthcare Accounting

WEBHealthcare Accounting – Roanoke (VA) We serve over 100 health services, medical, and dental practices and their physicians in Roanoke and across Virginia.As a medical …

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What is the Provider Relief Fund

WEBWhat is the Provider Relief Fund? In addition to the Paycheck Protection Program, the Coronavirus Aid, Relief, and Economic Security ( CARES) Act allocated …

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QBI Deduction Medical Practices Virginia Tax Firm

WEBThe deduction is calculated as the lesser of 20% of (i) qualifying income from the pass-through entity or (ii) 20 percent of taxable income as reduced by net capital …

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Affordable Care Act Decision Net Investment Income Tax

WEBSupreme Court Upholds Affordable Care Act Including the Net Investment Income Tax Provisions. On June 17, 2021, by a 7-2 vote, the United States Supreme …

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Healthcare System Organization Control SOC 2 Report

WEBScott M. McAuliffe, CPA, CISA, CFE, Risk Advisory Services Partner Scott leads the Firm’s Risk Advisory Services practice, which focuses on providing internal …

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Cybersecurity Healthcare Providers Data Security Richmond VA

WEBCost effective data controls for healthcare practices. According to a January 8, 2020, article published by the HIPAA Journal, the healthcare industry now accounts …

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Financial Statement Disclosure Requirements of the …

WEBWhat are the Financial Statement Presentation and Disclosure Requirements of the Lessee Under ASC 842? ASC 842, the new lease accounting standard, is effective for public …

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Employee Benefit Plan Audits DOL 80-120 Participant Rule

WEBIncluded in the Department of Labor (“DOL”) Regulation 2520.103-1 (d), “plans with between 80 and 120 participants (inclusive) at the beginning of the current …

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Private Equity Trends in Healthcare VA Valuation Firm

WEBHealthcare-related PE deal values in the U.S. dropped 60.4% in the same period, from a peak in 2021 to a trough in 2023 (the lowest level since 2016) according …

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Special Lease Considerations for Nonprofits ASC 842

WEBThe lease has been determined to be an operating lease under ASC 842. The fair market rental value for a similar office space is determined to be $4,000. Entry …

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Telling Your Organization’s Story – Schedule O

WEBForm 990 for tax-exempt organizations. Schedule O is an integral part of the annual filing of the Form 990 for tax-exempt organizations. Its main purpose is to provide narrative …

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Tax Implications of Lending Money to Family Richmond VA

WEBBy Ginny Graef, Tax Senior Manager, Family, Executive & Entrepreneur Advisory Services Team Five Tips to Avoid Negative Tax Implications When Lending …

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HSA 2023 Inflation Adjustments Annual Contribution Limits

WEBIRS issues 2023 inflation adjusted amounts for contributions to Health Savings Accounts. A Health Savings Account (HSA) is a tax advantage account created …

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Discrimination Testing Nondiscrimination Testing Richmond …

WEBBy Amanda M. Mills, CPA | Tax Manager. Prior to the passage of the Affordable Care Act (ACA), fully insured group health plans (i.e., plans that provide …

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Revenue Recognition Changes Revenue Contracts Customers

WEBImplementing Revenue Recognition Standard for Private Social Clubs. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which …

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Short Term Rental Requirements Richmond Rental Requirements

WEBThe County requires an annual registration fee of 200 dollars for short-term residential rental permits. Homeowners must also collect and report the County’s …

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Elder Care Expenses Tax Savings and Considerations VA CPA

WEBAn exception can be made to this rule if they become physically or mentally unable to care for themselves during the five-year period. For a single parent, the …

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