Category: Healthcare Industry

Get the latest news and advice on tax and accounting news for the medical and healthcare industry.

Tackling Healthcare Inflation: 3 Effective Employer Tactics

Healthcare IndustryMBE CPAsLeave a comment

Healthcare inflation continues to pose significant challenges for employers. Let's explore strategies to manage costs and improve health outcomes!

The Rise of Walmart Healthcare: Knockoff or Quality Care?

All News, Healthcare IndustryMBE CPAs1 Comment

Ever wondered if retail giants like Walmart, CVS, and Walgreens could truly offer quality healthcare, or if it's just a…

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Government Announces New Medicaid Food Program

All News, Consumer Services Industry, Healthcare IndustryMBE CPAsLeave a comment

Learn about the recently announced government program that allows qualifying Medicaid recipients access to nutrition planning and nutritious food options.…

Medical and Dental Expenses: What Can You Deduct?

All News, Healthcare Industry, Individual Tax, Professional Services Industry, Tax Alerts & UpdatesMBE CPAsLeave a comment

The strain that healthcare can have on your pockets can be minimized by writing off medical and dental care expenses…

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We are clients of the RSM Professional Services+ Practice. As a client, we have access to the Professional Services+ Collaborative, a globally connected community that provides access to an ecosystem of capabilities, collaboration and camaraderie to help professional services firms grow and thrive in a rapidly changing business environment. As a participant in the PS+ Collaborative, we have the opportunity to interact and share best practices with other professional services firms across the U.S. and Canada.

New Updates on the Corporate Transparency Act (CTA)

On December 3, 2024, a federal district court in the state of Texas has issued a nationwide injunction against the enforcement of the Corporate Transparency Act and its Beneficial Ownership Information (BOI) reporting requirement labeling it as “unconstitutional” (Texas Top Cop Shop v. Garland). At this moment, fines and penalties are not enforceable for not completing the BOI filing by the initial 1/1/25 deadline and reporting companies need not comply with the deadline until further order of the court. On December 5, 2024, the U.S. government filed an appeal against the preliminary injunction. It is still encouraged to file the BOI reports, or at a minimum, be ready to file at a moment’s notice. If the injunction is overturned, reporting companies will still need to file the BOI reports to stay in compliance and avoid penalties. If you have already completed your BOI filing, you are viewed as being in good standing with the Financial Crime Enforcement Network (FinCEN). We will update you with more information from the court case when it is provided.