Business Sales M&A
MARCH 23, 2021
What kind of owner are you? How does that impact your transition choices? Owners that are approaching a time when they wish to exit their business need to undertake a realistic appraisal of how ready they are financially and mentally. The options that are available to them depend upon the results from this assessment. Over the years, our firm has used a matrix to help define these options.
Chris Curtain
MARCH 18, 2021
The distinction between valuation and evaluation as nouns is that valuation is an estimate of an object’s worth, while evaluation is an appraisal, such as an annual staff performance analysis used to justify a pay raise or promotion, or a description of a specific event. A business evaluation is a term used by management consultants […].
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ThomsonReuters
MARCH 11, 2021
American Rescue Plan Act of 2021, H.R. 1319. Available at [link]. Congress has passed, and the President is expected to sign, the American Rescue Plan Act of 2021 (ARPA), creating a 100% COBRA premium subsidy and additional COBRA enrollment rights for certain employees (and their families) who have lost group health plan coverage due to an involuntary termination of employment or reduction of hours.
Appraisal Rights
MARCH 30, 2021
Given the rapid developments in the cannabis space — with 15 states having now legalized recreational marijuana and 21 states allowing medicinal use — approaches to the valuation of cannabis companies continues to evolve. In this new piece by EisnerAmper , the firm makes the case for utilizing any combination of an Asset Approach, Income Approach or Market Approach to valuing a marijuana business while bearing in mind a litany of tax and regulatory considerations.
Speaker: Susan Spencer, Principal of Spencer Communications
Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.
Cooley M&A
MARCH 30, 2021
Axios + Cooley hosted a virtual event on new deal-making in tech M&A. We discussed the future of the market and how innovative teams are getting things done. Axios Technology & Business Reporter Kia Kokalitcheva and Business Editor Dan Primack hosted conversations with: Stewart Butterfield – Co-founder & CEO, Slack Sean Dempsey – Founding Partner, Merus Capital + Former Principal of Corporate Development, Google Salman Ullah – Founding Partner, Merus Capital + Former Vice President o
Musings on Markets
MARCH 25, 2021
The first quarter of 2021 has been, for the most part, a good time for equity markets, but there have been surprises. The first has been the steep rise in treasury rates in the last twelve weeks, as investors reassess expected economic growth over the rest of the year and worry about inflation. The second has been a shift within equity markets, a "rotation" in Wall Street terms, as the winners from last year underperformed the losers in the first quarter, raising questions about whether this shi
Business Valuation Zone brings together the best content for business valuation professionals from the widest variety of industry thought leaders.
Deal Law Wire
MARCH 18, 2021
The COVID-19 pandemic has changed the way in which we interact with the world. From working, to shopping, to socializing, most aspects of our daily lives have moved to the online world. Consumers now expect effective online platforms for all goods and services, and businesses have been forced to adapt quickly. The need for robust online technologies drove a number of large M&A transactions for enterprise technologies in 2020.
ThomsonReuters
MARCH 17, 2021
QUESTION: Next year, our company will set up an HRA and a health FSA covering the same employees. In what order should reimbursements be paid from these two plans? ANSWER: Unless you design your plan differently, the general ordering rule is that expenses are paid first from the HRA, until the HRA balance is exhausted, and then from the health FSA. However, this general rule makes it more likely that unused health FSA funds will be forfeited, especially in health FSAs that do not allow carryover
Appraisal Rights
MARCH 10, 2021
Devon Energy Corporation seeks to have the Delaware Chancery Court validate a shareholder vote after a notice snafu resulted in approximately 15% of shareholders receiving untimely notices on a $15 billion merger. After the merger closed between Devon Energy and WPX Energy, Inc. in January 2021, Devon Energy’s sub-contractor Broadridge Investor Communication Solutions, Inc. learned that it did not begin mailing notices of the special meeting of stockholders until up to two weeks prior to the me
Cooley M&A
MARCH 2, 2021
What is a SPAC. Special purpose acquisition companies (SPACs) are on the rise. A SPAC is a publicly traded shell company with no underlying operating business that seeks to merge with a target operating company. According to Nasdaq , in 2015, SPACs made up approximately 12% of the IPO market, but by 2020, that number had risen to approximately 53%. SPACs are predicted to be an even higher percentage of the 2021 market share, with SPACs representing 79% of the January IPOs.
Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker
The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l
IT Valuations
MARCH 1, 2021
So, you’re struggling to let go. It can feel excruciating to let go of that precious vine, can’t it? It’s like an extension of your very own life, which you sweat blood and tears to grow and nurture. I get it. As an owner, I am walking in those same shoes. When you’re faced with the real possibility of not knowing an outcome, one which you have very little control over, the ensuing anxiety can be crippling.
The Mentor Group
MARCH 1, 2021
Intellectual Property (IP) has been adopted as a catchall for many different types of intangible assets. The valuation of various IP is a unique specialty of The Mentor Group. If a company did not acquire its IP, and only developed it internally, the Balance Sheet will not reflect any IP amount. Likely, the only way that IP will be valued is if it is transferred to another entity.
Deal Law Wire
MARCH 11, 2021
It is no secret that during 2020 and into 2021 the COVID-19 pandemic has created massive disruptions for a variety of industries. One such example is the movement of health care services online in order to adhere to social distancing guidelines. A wide variety of technology and applications to facilitate this, referred to as telehealth or telemedicine technology, are gaining momentum.
ThomsonReuters
MARCH 8, 2021
Whether you’re starting your career, or you’ve been in the profession for a while, women have more opportunities than ever to rise above in the tax and accounting profession. As we enter Women’s History Month and celebrate International Women’s Day, we also celebrate evolution past gender cultural bias and advancements within the profession. In this chapter of Small Talk with Heather Walker , I am joined by two successful women in the tax and accounting profession: Linda Forde, CPA and owner of
Speaker: Joe Apfelbaum, CEO of Ajax Union
In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.
ThomsonReuters
MARCH 10, 2021
Background. The American Rescue Plan Act of 2021 (ARPA) extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Consolidated Appropriations Act, 2021 (CAA, 2021). Paid Sick and Family Leave Credits. Changes under ARPA apply to amounts paid with respect to calendar quarters beginning after March 31, 2021.
ThomsonReuters
MARCH 29, 2021
If tax and accounting professionals have learned anything from the past year of the COVID-19 pandemic, it’s that our new ways of communicating are not going away anytime soon. What can your firm do to ensure that its virtual presence is keeping up with the new normal? In this episode of Pulse of Practice, “ Virtual Presence ”, Paul Miller, CPA from Business by Design , and I discuss the best practices for improving your firm’s virtual presence, so you can guarantee professionalism even while wor
ThomsonReuters
MARCH 26, 2021
Now that tax season is in full swing for many practitioners, you may find yourself questioning if this is the right time to break off and explore starting your own CPA firm. In this next chapter of Small Talk with Heather Walker , I am once again joined by Linda Forde, CPA and owner of The Forde Firm, and Nina Tross, Executive Director of the National Society of Tax Professionals (NSTP).
ThomsonReuters
MARCH 15, 2021
It is the question at the back of every tax practitioner’s mind this tax season – will tax season be extended? So far, we’ve only seen one instance of local filing deadline extensions in Texas, where the deadline was pushed to June 15 th due to complications resulting from severe winter storms. While the IRS has issued statements that April 15 th will be the deadline, it’s become clear in the last year that legislation can change on a whim, and so the question lingers.
ThomsonReuters
MARCH 12, 2021
We’ve seen the impact the COVID-19 pandemic took on succession planning for accounting firms. For anyone who didn’t exit during the pandemic but were thinking about it before, they’ve had their plans pushed back. Our businesses are quite different than they were before. We survived, but what on earth do we do now? In this episode of Pulse of Practice “Setting Course for the Next Chapter”, Paul Miller, CPA from Business by Design , and I discuss the importance of accounting firm leaders to contin
ThomsonReuters
MARCH 4, 2021
IRS Form 1099-R (Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.) (2021); IRS Form 5498 (IRA Contribution Information) (2021); Instructions for Forms 1099-R and 5498 (2021); General Instructions for Certain Information Returns (Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G) (2021).
ThomsonReuters
MARCH 11, 2021
American Rescue Plan Act of 2021, H.R. 1319. Available at [link]. Congress has passed, and the President is expected to sign, the American Rescue Plan Act of 2021 (ARPA), providing sweeping COVID-19 relief that includes several benefits-related provisions. A 100% COBRA premium subsidy has drawn perhaps the most attention (see our Checkpoint article ), but other items are also of interest to group health plan sponsors, administrators, and advisors.
ThomsonReuters
MARCH 17, 2021
Form 8915-E (Qualified 2020 Disaster Retirement Plan Distributions and Repayments) and Instructions (2020); Form 8915-D (Qualified 2019 Disaster Retirement Plan Distributions and Repayments) and Instructions (2020); Form 8915-C (Qualified 2018 Disaster Retirement Plan Distributions and Repayments) and Instructions (2020); Form 8915-B (Qualified 2017 Disaster Retirement Plan Distributions and Repayments) and Instructions (2020); Form 8915-A (Qualified 2016 Disaster Retirement Plan Distributions a
ThomsonReuters
MARCH 11, 2021
QUESTION: Our company would like to simplify reimbursements for business travel expenses by paying employees a fixed amount for each travel day regardless of incurred expenses. How can we keep the per diem payments from being treated as income to our employees, and how would those payments affect employees’ expense reporting? ANSWER: Per diem payments are often used to simplify compliance with the accountable plan rules that allow business travel reimbursements to be excluded from employees’ g
ThomsonReuters
MARCH 4, 2021
FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 44 (Feb. 26, 2021). FAQs. News Release. The DOL, IRS, and HHS have issued another round of FAQ guidance addressing implementation of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) for group health plans.
ThomsonReuters
MARCH 30, 2021
Ten or 20 years ago, technology would not have permitted the depth of remote work that has been seen over the past year. The importance of being able to ‘work from home’ without snags was never more evident than when COVID-19 and social distancing become a part of everyday living. And that’s one of many reasons it pays to review cloud technology and what it means to tax and audit firms.
ThomsonReuters
MARCH 29, 2021
U.S. Treasury Secretary Janet Yellen has issued a response to the letter signed by 21 state attorneys general requesting clarification regarding Section 9901 of the American Rescue Plan Act of 2021 (ARPA), which includes language limiting the ability of states to to use ARPA funds to offset certain tax relief measures for a period of time after receiving the federal aid authorized by the act. ( Letter from Treasury Secretary Janet Yellen to State Attorneys General, 03/23/2021 ).
ThomsonReuters
MARCH 25, 2021
QUESTION: Our company has 60 employees, all of whom are eligible for our fully insured medical plan and our health FSA. This year, 40 employees have enrolled in our medical plan and health FSA. Does our health FSA, which we administer in-house, qualify for the exclusion from the HIPAA privacy and security rules for self-administered health plans with fewer than 50 participants?
ThomsonReuters
MARCH 25, 2021
In re: Fidelity ERISA Fee Litigation, 2021 WL 836766 (1st Cir. 2021). Available at [link]. An appellate court has affirmed the dismissal of a class action lawsuit alleging that a retirement plan service provider breached its fiduciary duties when it charged some mutual funds access fees to be included on the provider’s investment platform. The provider, which serves as the recordkeeper and directed trustee for thousands of 401(k) plans, offers a “supermarket” of funds (the Big Menu) from which
ThomsonReuters
MARCH 25, 2021
Doe v. United Behavioral Health, 2021 WL 842577 (N.D. Cal. 2021). Available at [link]. The claims administrator of a self-insured health plan was sued by the parent of a child with autism spectrum disorder over the plan’s exclusion of Applied Behavior Analysis (ABA) and Intensive Behavioral Therapies (IBT). While the child was covered, the plan specifically excluded both treatments, although the exclusion was dropped soon after the child’s coverage ended.
ThomsonReuters
MARCH 25, 2021
Carlile v. Reliance Std. Life Ins. Co., 988 F.3d 1217 (10th Cir. 2021). Available at [link]. A federal appeals court has ruled that a long-term disability claimant was eligible as an “active, full-time” employee even though, when his disability began, the employer had excused the claimant from reporting to work. The claimant had received a 90-day termination notice (in connection with a reduction in force) and was not required to report to work during the notice period, but he nonetheless chose
ThomsonReuters
MARCH 22, 2021
Keeping Up with Taxes. On March 22, 1765, the British government passed the Stamp Act. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. The colonists were none too happy about this new tax since there were three other taxes recently put into play: Sugar Act (1764), Currency Act (1764) and Quartering Act (1765).
ThomsonReuters
MARCH 18, 2021
Following the path paved by 2020, the IRS has extended the tax deadline from April 15 th to May 17 th , 2021. On Monday, I discussed the arguments supporting an extension being unlikely this year, but as of Wednesday, we’re operating on a new timeline. While we knew this wasn’t completely out of the realm of possibility, practitioners are now gearing up for another prolonged busy season, but the good news is there are ways to stay ahead.
ThomsonReuters
MARCH 17, 2021
IRS Form 8889 (Health Savings Accounts (HSAs)) and Instructions (2020); Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans (for use in preparing 2020 returns)). Form 8889. Instructions. Publication 969. The IRS has released the 2020 version of Form 8889 (Health Savings Accounts (HSAs)) and its instructions, and has updated Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans) for 2020 tax returns.
ThomsonReuters
MARCH 17, 2021
Modifications to the HIPAA Privacy Rule to Support, and Remove Barriers to, Coordinated Care and Individual Engagement, 45 CFR Parts 160 and 164, 86 Fed. Reg. 13683 (March 10, 2021). Available at [link]. HHS has extended the public comment period for proposed HIPAA privacy regulations (see our Checkpoint article ) that, among other changes, would modify the individual right to access protected health information (PHI), revise the Notice of Privacy Practices, and clarify health plans’ use and dis
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