ThomsonReuters
OCTOBER 29, 2020
QUESTION: Our company has run out of storage space for paper records, including those relating to our employee benefit plans. Can we retain these records solely in electronic form and destroy the paper records for our ERISA plans? ANSWER: ERISA plan records generally may be maintained electronically so long as you comply with applicable rules, summarized below.
Shuster & Co.
OCTOBER 30, 2020
Going through a divorce can be one of the most challenging times in a person’s life. Divorce accounting is often complicated and expensive, even if the divorce is not combative. A collaborative divorce is one in which the couple negotiates the terms of the divorce – usually through mediation – without a hostile and drawn-out court case. Some divorces are marked by both parties trying to hurt the other by contesting everything from splitting the finances to custody of children if any are in
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Cooley M&A
OCTOBER 29, 2020
On September 24, Cooley M&A partner, Garth Osterman, moderated a webinar on the current trend in going public: SPACs! Dave Peinsipp, co-chair of Cooley’s capital markets practice group and Rama Padmanabhan, a Cooley M&A partner participated in the webinar which focused on the current wave of SPAC activity and how it compares to prior iterations, in addition to discussing some of the key differences and similarities between SPACs and IPOs, as well as current trends in SPAC business combin
Appraisal Rights
OCTOBER 28, 2020
The Delaware Supreme Court has had its say on whether Directors and Officers insurance policies that covered claims for “actual or alleged” violation “of any federal, state or local statute, regulation or rule or common law regulating securities” covered appraisal actions – which, at least by statute, do not require any evidence of wrongdoing. The Court’s answer was clear, and the opinion unanimous: appraisal actions are not covered by D&O policies with this language.
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.
ThomsonReuters
OCTOBER 29, 2020
Self-Compliance Tool for the Mental Health Parity and Addiction Equity Act (MHPAEA); Final 2020 MHPAEA Self-Compliance Tool Preface. Self-Compliance Tool. Preface. News Release. The DOL has finalized the biennial update of its self-compliance tool designed to help employers comply with the Mental Health Parity and Addiction Equity Act (MHPAEA). The 2020 update integrates recent MHPAEA guidance and includes revised compliance examples, best practices for establishing an internal compliance plan,
Appraisal Rights
OCTOBER 30, 2020
As we’ve mentioned , valuation professionals, accountants and investment banks have become increasingly focused on trained on the valuation of cannabis companies and assets, with EY preparing their insights on cannabis valuations here. This piece addresses regulatory and transactional developments in the US as well as Canada.
Business Valuation Zone brings together the best content for business valuation professionals from the widest variety of industry thought leaders.
ThomsonReuters
OCTOBER 29, 2020
If you’re like most of us, 2021 can’t come soon enough. However, the last quarter of 2020 presents a unique opportunity for accounting firms to engage in preliminary strategic conversations with clients and help them assess the impact of the pandemic and the economic downturn, identify challenges, and lay out goals ahead of 2021. As you connect with clients in closing out the year, you should take the opportunity to broaden your conversation and gather information that will inform and enrich you
ThomsonReuters
OCTOBER 29, 2020
IRS Notice 2020-79 (Oct. 26, 2020); IRS News Release IR-2020-244 (Oct. 26, 2020); SSA Notice: Cost-of-Living Increase and Other Determinations for 2021 (Oct. 22, 2020). IRS Notice. IRS News Release. SSA Notice. The IRS has announced the 2021 dollar limits and thresholds for retirement plans, reflecting the latest cost-of-living adjustments. (Dollar limits and thresholds primarily affecting health and welfare plans were announced in separate guidance; see our Checkpoint article.
Appraisal Rights
OCTOBER 27, 2020
Further to our prior post on FTI’s cannabis valuation primer, FTI has now published an update addressing developments resulting from Canada’s legalization of the production and sale of edible cannabis, cannabis extracts and cannabis topics, as well as the slower-than-expected growth of the Canadian cannabis industry. Intranational, international, and even supranational regulatory issues can be a relevant component of cannabis valuation – perhaps more so than in more traditional businesses.
ThomsonReuters
OCTOBER 26, 2020
In 2018, the World Economic Forum’s Future of Jobs Report listed accountants and auditors as one of the jobs mostly likely to decline as a result of automation. This was based on the expectation that tax and accounting professionals would fail to adapt to new technology and therefore render themselves less efficient. Now, less than two years after that prediction, tax and accounting professionals have become the backbone of a business world in the midst of a global pandemic.
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
ThomsonReuters
OCTOBER 26, 2020
When the United Kingdom (UK) officially implemented its Brexit plan and withdrew from the European Union (EU) on January 31, 2020, the UK and EU entered into an eleven-month “transition” period, the main purpose of which was to negotiate a free trade agreement (FTA) between the two parties. Since then, however, trade talks have produced little progress, and what was once considered unlikely—a “no-deal Brexit”—is now the most probable outcome.
ThomsonReuters
OCTOBER 27, 2020
It has been two years since the Wayfair case passed through the Supreme Court, so why are people discussing the Wayfair impact on CPA advisory now? In this episode of Pulse of Practice “Second wave of Wayfair”, Paul Miller, CPA from Business by Design , and I are joined by Shaun Hunley, Executive Editor at Thomson Reuters. We discuss the importance of this next wave of the Wayfair decision, and why sales tax revenue should be added to your advisory discussions with clients.
ThomsonReuters
OCTOBER 29, 2020
DaVita, Inc. v. Marietta Mem’l Hosp. Emp. Health Benefit Plan, 2020 WL 6054607 (6th Cir. 2020). Available at [link]. A dialysis provider (on its own behalf and in its role as a patient’s assignee) sued the employer/ plan administrator and the TPA of a self-insured health plan, challenging the plan’s classification of all dialysis providers as “out-of-network,” resulting in a lower reimbursement rate for them than for other medical providers.
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