At a Tuesday White House briefing, Treasury Secretary Steven Mnuchin announced new relief measures that are effective immediately. Today we have received written guidance from the Treasury Department outlining the items below. The Internal Revenue Services (IRS) has extended the tax payment deadline for 2019 income taxes and 2020 estimated taxes for individuals who owe…
To our valued clients, At BGBC, the health and safety of our employees and our clients is of paramount importance. For this reason, we are taking specific precautions to protect our staff and visitors during the current outbreak of Coronavirus. With confirmed cases reported in the geographic areas surrounding our client and employee locations, we…
By Ellyn Bess, Kim Flett, and Beth Garner When employees hear that their company offers a Health Savings Account (HSA), many fail to make the connection to how these tax-advantaged accounts for qualified medical expenses can help them prepare for a successful retirement. But with healthcare being one of the biggest expenses people face in retirement, HSAs can…
By Elizabeth Koelker, BS, MHA, FACHE While 2019 brought many changes to the landscape of cancer care, 2020 promises even greater disruption to business as usual. For cancer administrators and healthcare leaders, two eternal truths remain, as lifespans and the aging population continue to grow: Clinicians are diagnosing more people with cancer than ever before The cost…
By Dan Harris and Demetrios Frangiskatos Blockchain vs. DLT Though they are often used interchangeably in common parlance, blockchain and digital ledger technology (DLT) are not synonymous. Blockchain is just one form of DLT, just like Ethereum is one of many blockchain platforms. Blockchain is distinguished from other types of DLT by the way data…
The recent outbreak of coronavirus has caused governments around the world to impose travel restrictions, and airlines to cancel flights to China. These restrictions could interfere with the work of auditors, as they could have trouble completing inventory counts or other key tasks. This Wall Street Journal article by Mark Maurer discusses how several accounting firms…
By Vin Phan A 2018 survey by the Substance Abuse and Mental Health Services Administration (SAMHSA) found that approximately one in five adults (47.6 million) in the U.S. had experienced a mental illness in the past year, and 17.7 million suffered from a major depressive episode. The need for behavioral health services has accelerated significantly in the…
The creditworthiness of your business is measured by its credit score. This number is issued by Dun & Bradstreet, Experian, Equifax, and FICO SBSS, and is an essential reflection of your company’s payment reliability and timeliness. Why is Your Business Credit Score Important? Your company’s overall financial health is of key importance to any lenders,…
When was the last time you or your attorney reviewed or updated your will or trust? If it was before the passage of the 2017 tax reform legislation, or the Tax Cuts and Jobs Act (TCJA), your documents may be out of date. Among the many changes in that law was a more than doubling…
Congress, at almost the last minute, has passed a large number of tax changes, including retirement plan issues that will become effective in 2020, as well as extensions through 2020 of a number of tax provisions that had expired or were about to end. The list of changes is quite large, so we have only…