The IRS on Friday provided the maximum amount allowed to be newly made available to participants of excepted benefit health reimbursement arrangements (HRAs) under Regs. Sec. 54.9831-1(c)(3)(viii) for plan years beginning after Dec. 31, 2020, and before Jan. 1, 2022 (Rev. Proc. 2020-43). The maximum amount, which is indexed under the Chained Consumer Price Index […]

Overview:Founded in 1972, Metrolina Builders is a Charlotte-based, privately held family business, providing commercial construction and design-build services to private sector clients throughout the Carolinas. Named as one of the Top General Contractors in Charlotte and a Fast 50 award winner, our sustained growth has created a fantastic opportunity for a talented and motivated finance […]

The Alliance for Responsible Professional Licensing (ARPL) recently released “Licensed to Move: Pathways, Principles, and Pitfalls for Interstate Practice,” a report that examines successful mobility and reciprocity practices in state licensure that allow professionals to practice across state lines. As the coronavirus pandemic continues to create the need for mobility among medical professionals, there has […]

FASB issued rules amendments Thursday to clarify an entity’s accounting responsibilities related to callable debt securities. Accounting Standards Update (ASU) No. 2020-08, Codification Improvements to Subtopic 310-20, Receivables — Nonrefundable Fees and Other Costs, states that an entity should reevaluate whether a callable debt security is within the scope of Paragraph 310-20-35-33 for each reporting […]

By now, some of you have already started to get back to your physical office, possibly part-time, or perhaps full-time. At the time I’m writing this, the pandemic seems far from over, though it appears we’re slowly coming to some kind of equilibrium. But exactly what we wind up with is unclear at the moment, […]

Making sure the costs of changes in accounting standards don’t exceed the benefits is a key objective for FASB Chair Richard Jones, CPA. Jones replaced Russell Golden, CPA, as FASB’s leader in July after spending more than 30 years with EY, where he was the firm’s chief accountant and led the firm’s national office. Jones […]

The Social Security Administration (SSA) announced that the maximum amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax will increase to $142,800 in 2021 from $137,700 in 2020. The OASDI tax rate is 6.2%, so an employee with wages up to or above the maximum in 2021 will pay $8,853.60 […]

Accountants are deeply concerned about social and environmental issues, according to a new global survey by the Association of Chartered Certified Accountants. The report found 90 percent of the 829 accountants and finance professionals polled by the ACCA want organizations to increase their efforts to become more environmentally sustainable and make a more positive impact […]