PASU Comment Period Deadline Draws Near
The Financial Accounting Standards Board (“FASB”) has released Proposed Accounting Standards Update (“PASU”) (Revised), a revision of the 2010 proposed FASB Accounting Standards Update, Leases (Topic 840). The guidance in this PASU was developed through a joint project with the International Accounting Standards Board (“IASB”), which has also released a similar Exposure Draft. Currently, United […]
www.pyapc.com/insights/pasu-comment-period-deadline-draws-near/
Does the New Surtax Apply to You?
For the 2013 tax year, there is a new 3.8% net investment income tax (also known as the Medicare contribution tax) on some categories of passive investment income (e.g., interest, dividends, annuities, rents, etc.) for individuals, trusts, and estates that exceed certain income thresholds. The surtax is a separate tax calculation that is added to […]
www.pyapc.com/insights/does-the-new-surtax-apply-to-you/
Stop Tax Identity Theft in Its Tracks
Imagine after sending in your annual tax return, you receive an Internal Revenue Service notice that states another return has already been filed using your name and Social Security number and it claimed a refund. Sound impossible? It can happen if you become one of a growing number of victims of tax return identity theft. […]
www.pyapc.com/insights/stop-tax-identity-theft-in-its-tracks/
Proposed Rule Changes for Lease Accounting
The Financial Accounting Standards Board ( FASB ) has released Proposed Accounting Standards Update ( PASU ) (Revised), a revision of the 2010 proposed FASB Accounting Standards Update, Leases (Topic 840). The guidance in this PASU was developed through a joint project with the International Accounting Standards Board ( IASB ), which has also released […]
www.pyapc.com/insights/proposed-rule-changes-for-lease-accounting/
Fiscal Cliff Bill Extends Doc Fix and Statute of Limitations on Requests for Overpayment
Passage of the fiscal cliff bill brought an extension of the doc fix and relief from the 26.5% cut in payments faced by physicians who care for Medicare patients. However, more subtly addressed in the American Taxpayer Relief Act of 2012 is an extension of the statute of limitations on recovering non-fraudulent Medicare payments. The […]
www.pyapc.com/insights/fiscal-cliff-bill-extends-doc-fix-and-statute-of-limitations-on-requests-for-overpayment/
Nurses must play central role on the frontline of reform
In an introspective conversation last week, a close friend who is a hospital CEO shared a story that reflects the real struggles most healthcare leaders experience today as they balance the significant – and often competing – demands of reducing cost, increasing quality and improving patient experience. As he was leaving the hospital on a […]
www.pyapc.com/insights/nurses-must-play-central-role-on-the-frontline-of-reform/
The Ultimate Compliment
It was almost nine o’clock in the evening when I finally arrived at my hotel from a long day of meetings and travel in preparation for the full-day workshop I would lead the next day. I was tired, but I was also hungry. I asked the front-desk clerk as I checked in if there was […]
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Think Small?
I frequently joke with those that I work with that my dream job is to be the “Vice President of Big Thinking.” It would be great to have the time to take all of the complex issues we are facing in healthcare, sit in a room and come up with big ideas and big solutions. […]
www.pyapc.com/insights/think-small/
FinCEN Issues Guidance on the new Currency Transaction Report and Suspicious Activity Report
The Financial Crimes Enforcement Network (“FinCEN”) has issued Guidance (FIN-2012-G002) regarding the new Currency Transaction Report (“CTR”) and Suspicious Activity Report (“SAR”) (collectively, “the new reports”). The new reports will replace the previous CTR Form 104 and all industry-specific SARs, which will now be referred to as “legacy reports.” FinCEN states that the new reports […]
www.pyapc.com/insights/fincen-issues-guidance-on-the-new-currency-transaction-report-and-suspicious-activity-report/
Audit & Accounting Update
Pershing Yoakley & Associates, P.C., is pleased to present the March 2012 Audit & Accounting Update. This update is designed to provide direct access to current audit and accounting information that is relevant to you. FASB Activities Exposure Drafts The Financial Accounting Standards Board (“FASB”) has released Proposed Accounting Standards Update (“PASU”), Intangibles – Goodwill […]
www.pyapc.com/insights/audit-accounting-update-2/
Congress Passes Payroll Tax Cut Extension Through 2012
On February 22, the President signed into law H.R. 3630, the “Middle Class Tax Relief and Job Creation Act of 2012” (Act). It extends the 2 percent payroll tax cut through the end of 2012 and also repeals a number of estimated tax shifts for large corporations. Payroll Tax Cut Extended Through End of 2012 […]
www.pyapc.com/insights/congress-passes-payroll-tax-cut-extension-through-2012/
Intangible Assets
In response to concerns regarding the cost and complexity of testing indefinite-lived intangible assets (other than goodwill) for impairment, as currently required under Accounting Standards Codification (ASC) Topic 350, Intangibles – Goodwill and Other , the Financial Accounting Standards Board (FASB) recently issued a Proposed Accounting Standards Update (PASU). The objective of this PASU is […]
www.pyapc.com/insights/intangible-assets/
