Industries Articles

Lenders will be required to compile and analyze more information about small business loan applicants under a new federal rule finalized March 30.

Bank collapses in the U.S. aren’t common, but when it happens, it can be a harrowing experience for customers whose money is at risk. Limit your potential losses by remembering these key points of FDIC coverage.

For construction businesses, the cost of insurance can be high, but the cost of going without it can be so much worse. Let’s review a few important types of coverage.

President Biden’s 2024 budget proposal includes a variety of changes that could impact taxes for individuals and businesses.

Higher costs for labor and materials are still putting a chill on profitability for many construction companies. These eight steps might seem simple, but overlooking just one could cost you money.

Purchasing a heavy SUV could provide a more generous tax break than a smaller vehicle for business owners.

Fraud is an ever-present threat for construction businesses, both in the office and on jobsites. That’s why contractors must leave no stone unturned when trying to prevent it.

The cost of goods sold can account for 70% of a company’s expenses, according to recent discussions by the FASB’s Investor Advisory Committee. However, some companies skimp on details around the costs they incur to produce goods. The FASB’s disaggregation of income statement project could change that.

Every business can be an innovator. The research tax credit is a way to reward that innovation, and it comes with an intriguing feature related to payroll taxes.

The Securities and Exchange Commission advises business owners to keep five key areas in mind when preparing 2022 financial statements.

Depending on the nature of your company’s operations, your balance sheet may include inventory totals. Here’s why your inventory system might be flawed and giving you the wrong numbers.

The IRS has increased the optional standard mileage rate by 4 cents per mile, its first mid-year mileage rate adjustment in 11 years.

With housing and rental property in high demand in cities across the U.S., including Nashville, more and more homeowners are choosing to become landlords. But there are plenty of risks to go with the potential rewards.

Medicare bad debts present rural health clinics and other Medicare Part A providers an opportunity to recover reimbursement dollars they might otherwise miss.

As the economy rebounds from the pandemic, new construction is getting back on track, too. That can create challenges for construction companies trying to stay ahead of their backlogs.

Misunderstanding the complex rules of tracking employee hours can lead to errors, confusion, and wasted hours. Here are a few ways to hold the line for your next construction project.

Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.

Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.

New rules designed to protect consumers will have significant impacts not just on medical facilities, but also on the physicians and professionals who provide non-emergency services there. Here’s what the No Surprises Act means for healthcare providers.

If you received a Child Tax Credit or third-round Economic Impact Payment in 2021, watch your mailbox for a letter from the IRS – it will include key dollar amounts that you’ll need to complete your 2021 federal tax returns.

The early end of the employee retention credit surprised employers who had been underpaying payroll taxes in anticipation of the tax break. But there’s a collective sigh of relief after news from the IRS.

Diversity, equity, and inclusion are buzzwords in modern strategic management. Here are some of the benefits that initiatives in these areas bring to public and private companies and how companies can showcase their progress in footnote disclosures and separate diversity, equity, and inclusion reports.

Tax laws could change significantly in the coming weeks, but a few reliable year-end strategies should be at the top of your list as you look for ways to minimize your tax bill.

Congress has passed the Infrastructure Investment and Jobs Act after months of debate and negotiation. Find out what tax-related provisions have been built into the new law.

The outcome of two big pieces of legislation remains uncertain as negotiations continue in Congress. Here’s a look at the proposed bills and the potential tax law changes that could affect you or your business.

The new lease accounting standards changed in 2019 for public companies. Calendar-year private companies that follow U.S. Generally Accepted Accounting Principles must comply with the updated lease rules in 2022.

During the COVID-19 pandemic, many audit procedures have been performed remotely, forcing auditors to rely more heavily on analytical procedures. It’s important to understand how auditors use analytical procedures to make audits more efficient and effective.

If your business hasn’t already claimed the Employee Retention Tax Credit, now is the time to check on your eligibility. The money can help with the costs you incur in hiring and retaining employees during the pandemic.

More than $25 billion of new healthcare funding has been released as part of the Provider Relief Fund, a federal program designed to help providers hit hardest during the COVID-19 pandemic.

Have you taken a few minutes to really explore QuickBooks’ report center? It’s the best way to learn about the variety of reports available from one of QuickBooks’ most powerful components.

A new FASB update helps clairfy the presentation and disclosure of contributed nonfinancial assets, including land, buildings, and other items, but it does not change existing recognition and measurement requirements for contributed nonfinancial assets.

The Office of the Chief Accountant has provided new insight into three of the biggest questions posed in recent months by banks and other financial institutions.

If you received a PPP loan, important forgiveness deadlines are approaching quickly. Are you prepared?

A new Fed program requires all financial institutions utilizing FedLine solutions to perform an assessment of their compliance with FedLine security requirements and submit an attestation that the assessment has been completed.

Tennessee offers a variety of tax-saving credits. Do you know what’s available and how they could help your business?

Claim denials can be complicated at most and confusing at best. Conquering the rules and regulations of medical billing and coding is one of the biggest challenges in the fight against denials and clean claim submissions. It’s extremely important that medical practices ensure that claims are filed appropriately the first time.

The estimated number of going concerns for the fiscal year 2019 fell to the lowest amount in 20 years, but the pandemic caused financial distress that could bring an end to this downward trend for the fiscal year 2020.

Cybercrime isn’t just an issue for big corporations. Your small business can be a target, too. Are you protecting your QuickBooks data?

What could President Biden’s tax proposals mean for you? Here’s a brief rundown of the American Families Plan.

If your practice has either a full or partial suspension of operations during any calendar quarter in 2020 or 2021 due to a government order, or a significant decline in gross receipts during any calendar quarter compared to the same quarter in 2019, you could be eligible.

The value of an internal audit is different for everyone and can change based on circumstances, but a solid framework can provide the conditions necessary to deliver value to you.

Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the latest updates on the popular loan program.

The best choice of entity can affect your business in several ways, including the amount of your tax bill. Although S corporations can provide substantial tax advantages over C corporations in some cases, there are potential tax problems to assess before deciding to convert from C to S status.

Is your business taking full advantage of the Employee Retention Credit? Discover how you could make the most of the year-old ERC.

Did you resolve to pay bills on time in 2021? QuickBooks offers tools to help you enter, pay, and track them, so you can avoid late payments. Here’s how.

Because the new American Rescue Plan Act is such an expansive piece of legislation, it’s likely that you, your family, or your business can benefit from it.

The Internal Revenue Service has provided guidance for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.

The latest COVID-19-related stimulus bill, the American Rescue Plan Act, has passed and awaits signing by President Biden. What does this legislation mean for you individually or as an employer?

Medical and dental costs are expensive, and it’s hard to get a tax deduction for them. But you may qualify by including every eligible expense allowed. Here’s what it takes to get a deduction.

Tennessee business leaders say their outlook for 2021 has dropped significantly from 2020, according to the latest Tennessee Business Barometer. Although outlook had surged higher in October prior to the election, optimism for a brighter future has now faded.

Employee retention credits, PPP loans, business meal deductions, and deferred payroll taxes are just some of the provisions of the latest stimulus package that could affect your business.

Learn how provisions of the massive Consolidated Appropriations Act recently signed into law can benefit you and your family.

The U.S. Department of Health and Human Services has made changes to the reporting timeline for the Provider Relief Fund Program in light of the recent passage of the Coronavirus Response and Relief Supplemental Appropriations Act.

The banking industry rose to the occasion to answer investor questions quickly about potential credit losses on loans during the current economic crisis, according to FASB advisory discussions.

A massive new round of federal stimulus spending includes a PPP loan fix, new loan possibilities for small businesses, additional unemployment benefits, and $600 stimulus checks for individuals.

New SBA questionnaires request information related not only to the economic condition of the borrower at the time it received the PPP loan but also about its economic experience after receiving the loan.

The FDIC has approved an interim final rule to provide temporary relief from the Part 363 Audit and Reporting requirements for financial institutions that have experienced temporary growth due to participation in a variety of federal stimulus activities.

Are you self-employed and operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.

The Internal Revenue Service has issued guidance to help businesses implement the Presidential Memorandum issued August 8. The order allows employers to defer withholding and payment of the employee’s portion of the Social Security tax if the employee’s wages are below a certain amount, but it left questions and concerns when it was announced.

The AICPA has updated its technical accounting guide to explain how a lender should account for a forgivable loan that a borrower received under the Paycheck Protection Program (PPP). Because of the unique nature of PPP loans, the AICPA has been issuing staff answers to technical accounting questions.

As businesses work to recover from the effects of the COVID-19 pandemic, everyone should be on the lookout for opportunities to reduce taxes. One method that manufacturers often overlook is the research and development tax credit.

A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.

New guidelines have been applied to federal programs established due to the COVID-19 pandemic. As a result, many non-federal entities — including many health systems and hospitals — will, for the first time, be subject to single audit or other audit requirements established in the Uniform Guidance.

Kraft Healthcare Consulting LLC president Scott Mertie has been appointed to the board of directors for the Nashville Health Care Council for 2020-2021. Scott is one of 15 new members chosen for the board.

Tennessee’s nonprofit organizations will soon be eligible for $150 million in grants as part of COVID-19 recovery efforts. Funds will be issued through the Tennessee Community CARES Program to Tennessee nonprofits that are assisting in relief efforts related to the ongoing health and economic impact of COVID-19.

A last-minute extension means small businesses have until August 8 to apply for Paycheck Protection Program funds.

Business owners will receive notification starting this week regarding eligibility for financial relief as part of the Tennessee Business Relief Program.

Many financial institutions are working with borrowers on loan modifications, but a joint statement from a group of financial institution regulatory agencies details certain short-term modifications due to COVID-19 and the classification rules for troubled debt restructurings.

The Treasury Department and Small Business Administration have posted new “borrower-friendly” applications for loan forgiveness under the Paycheck Protection Program.

If you have to drive for work during the pandemic, let QuickBooks Online make sure you’re recording all of your deductible mileage.

The Tennessee Department of Revenue will issue business relief payments through the Tennessee Business Relief Program to small businesses for costs incurred as a result of mandatory business closures.

A change to Section 2302 of the CARES Act removes the exception for business owners who wish to use the tax deferral of the employer’s portion of Social Security taxes.

Business owners who received a forgivable loan through the Paycheck Protection Program could get more leeway on how to spend those funds as a result of legislation passed by the Senate and House.

Two new interim final rules build upon loan forgiveness application and instruction, but they don’t make changes to the eight-week period during which PPP funds must be spent or the rule requiring PPP borrowers to spend at least 75% of the funds on payroll costs.

New guidance helps clear up calculation methods, definitions of forgivable expenses, and the documents that must be submitted with the forgiveness request.

The Small Business Administration has taken another step to allow employers more flexibility in repaying their loans under the Paycheck Protection Program.

The Small Business Administration’s newest announcement offers relief for some employers whose Paycheck Protection Program loans amounted to less than $2 million.

New guidance from the IRS says that normally deductible business expenses will not be deductible as a way to prevent a “double tax benefit.”

The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.

Congress provided $349 billion for PPP funds, but that money ran out late last week amid high levels of demand as the coronavirus has forced businesses to scale back or close altogether.

Banks and credit unions have some wiggle room under FASB rules when reporting interest income on loans modified as a result of the coronavirus economic stimulus package, an issue critical to earnings.

Loans are now available for eligible small businesses through the Small Business Administration’s Paycheck Protection Program. Here are the details about the loan qualifications and terms.

The Coronavirus Aid, Relief, and Economic Security Act enacted a variety of changes for financial institutions, businesses, and individuals, including a chance for lenders and borrowers to explore a more streamlined assistance process.

The FASB supports a new regulatory statement to push banks to work with borrowers impacted by the coronavirus so that loans can be modified quickly and easily.

The Families First Coronavirus Response Act was signed into law as a response to the growing health and economic crises with provisions for paid sick leave and expanded unemployment benefits.

The Nashville Business Journal’s annual list recognizes the area’s most influential professionals in the healthcare industry.

The latest revisions to the tax code will bring welcome relief to nonprofit organizations.

The FASB recently issued amendments to clarify five issues under its credit loss accounting standard.

The Securities and Exchange Commission has adopted a rule that would extend the “test-the-waters” provision of the JOBS Act to all companies with the hope that more will consider going public.

Equity-based compensation awards can help companies attract skilled workers and boost performance, although at a costly price. A rule change could bring welcome relief.

New sales tax collection requirements for remote sellers and marketplace providers took effect Oct. 1, 2019, in several states, including Tennessee.

The FASB has approved proposals to delay the effective dates of its leases, credit losses, hedging, and long-duration insurance contract standards.

New IRS regulations for the first-year 100% bonus depreciation deduction have been published. Do you know how they might affect your business’s tax bill?

Congress has taken a big step toward making it easier and safer for cannabis businesses – and the businesses that serve them – to engage in the mainstream financial services sector.

The FASB intends to give smaller financial institutions more time to adopt its new credit loss standard, but banks should not use this as an excuse to delay preparations for the accounting change.

There are a variety of cyber vulnerabilities that can impact medical devices, especially as these devices within a hospital or health system become more and more connected.

Members of Kraft Healthcare Consulting in Nashville traveled to Boston to learn about innovation at Leadership Health Care’s delegation.

Scott’s debut on the NBJ’s annual Most Admired CEOs list follows his recent recognition in the publication’s Power Leaders in Accounting, as well as their Health Care Awards.

The London Interbank Offered Rate is the most common reference rate in the global financial markets. But, by 2021, it will have been phased out in response to a series of scandals.

Are you ready to schedule a security audit so that you can ensure your practice is protected before back-to-school season? Now is the time to make that audit happen.

Starting a new business is an exciting but often expensive journey. Fortunately, many start-up expenses can be deducted on your tax return, but some may have to be amortized over time instead of being taken right away.

New guidance from the FASB means that nonprofit groups can use the same methods available to private companies for reporting goodwill and certain identifiable intangible assets after a merger or acquisition.

New patient check-in codes can have a significant impact on healthcare practices, especially those that offer specialized services.

Fast Healthcare Interoperability Resources offers innovative tools that ultimately allow patients to control their health data, free up office staff, and help create an opportunity for overall independence.

Are you interested in joining the growing ranks of plug-in electric vehicle owners? If so, there’s a federal income tax credit that might incentivize your shopping.

Find the right blockchain applications for your healthcare business workflows or operations to boost competitiveness and profitability.

The third-year survey gives manufacturers and financial leaders insight into the business climate so they have a better idea of what’s to come.

KHC’s Scott Mertie teamed up with the AIHC to create a specialized training program and credential for cost reporting professionals.

Final IRS regulations on the qualified business income deduction are out. How will they affect your 2018 taxes?

Healthcare professionals have made it clear that they’re concerned about cybersecurity, but a few key steps can helps put those minds at ease.

Home healthcare providers will face changes because of new Section 199A guidelines, but those changes are based on a variety of factors, including exactly how the entity relates to “the field of health.”

Community banks and credit unions will have more time before they’re required to apply the credit losses standard as a result of new FASB guidelines.

Owners of manufacturing and distribution companies are often so focused on the here-and-now that planning for future catastrophes may fall through the cracks. But operating without a valid buy-sell agreement can cause financial distress and even tear a company apart if tragedy strikes.

With the new year comes the need for small business owners to begin filing their 2018 income tax returns. The TCJA could significantly alter your tax liability compared to previous years. Refresh yourself now on its major provisions.

U.S. companies should pay close attention to a narrow section of the Tax Cuts and Jobs Act that requires businesses to recognize revenue for tax purposes no later than when it’s recognized for financial reporting purposes.

Recently proposed IRS regulations on business interest expense deductions help provide clarity after TCJA changes.

The Tax Cuts and Jobs Act (TCJA) includes a broad range of tax changes impacting both individuals and business entities, including changes that directly impact healthcare companies and physician practices.

Tax incentives exist for those who invest in Opportunity Zones, and the IRS has just issued proposed regulations. Here’s what to know about Opportunity Zones, the available tax breaks and the rules for investors.

KraftCPAs team members helped sort and pack more than 20,000 lbs. of food as part of a project with Second Harvest Food Bank of Middle Tennessee on Sept. 21.

Reimbursement practices don’t have to be a chore for healthcare providers. Just follow a few simple tips to keep accounts healthy.

Small business owners will see changes as a result of the U.S. Supreme Court’s ruling on online sales taxes. And despite some uncertainties, now is the time to prepare.

The IRS has shared its new highly anticipated and complex regulations for the new deduction of up to 20 percent of qualified business income from pass-through entities. Here’s an overview of the biggest issues and changes.

Office 365 has been a big boost for healthcare providers, who utilize the platform’s productivity and efficiency to provide better service for their patients and clients.

A decade after the global financial crisis shook the United States into a recession, rules that placed strict regulations on thousands of small and medium-sized banks have been lifted. That means more flexibility for banks and potential borrowers.

Sales tax won’t apply on dozens of items as part of Tennessee’s annual tax-free weekend that begins at 12:01 a.m. Friday.

The U.S. Supreme Court’s decision in South Dakota vs. Wayfair Inc. has cleared the way for states such as Tennessee to collect sales tax on out-of-state online sales. State and local governments have joined brick-and-mortar retailers in welcoming the change.

What goes into medical office accounting? For starters, you can’t manage what you can’t measure, so create statements that are meaningful for the practice. That’s just one of several helpful takeaways from the monthly chat with the Nashville Medical Group Management Association.

Less than two months into President Donald Trump’s White House tenure, the Nashville Health Care Council’s Leadership Health Care (LHC) initiative led a group of more than 100 healthcare leaders on its annual two-day delegation to Washington, D.C.

In 2018, clinicians must provide a full year of reporting on the Medicare Access and Chip Reauthorization Act (MACRA) measures. To add another layer of complexity, the Centers for Medicare and Medicaid Services (CMS) has released new changes and updates for this year. An action plan put in place sooner, rather than later, can help ensure proper reporting.

With the continual arrival of new regulations and standards governing the healthcare industry, it is imperative for healthcare providers and hospitals to have an effective compliance plan in place.

Fraud can have a major impact on a company’s value. In their 2016 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners (ACFE) estimates that companies lose approximately 5 percent of revenues to internal theft and financial misstatement each year.

As financial institutions face increased regulatory scrutiny and mounting risks, a robust risk assessment process and internal audit function are essential to help protect the bank, its management and board.

CMS recently published the 2018 final rule for the Quality Payment Program (QPP) under the Medicare Access and Chip Reauthorization Act (MACRA). The 2018 Merit-based Incentive Payment System (MIPS) performance year contains several significant changes.

Scott R. Mertie of Kraft Healthcare Consulting, LLC (KHC) was selected by the German American Chamber of Commerce® of the Midwest, Inc. (GACC Midwest) to participate in an exclusive international health and technology delegation in Germany.

MACRA (Medicare Access and CHIP Reauthorization Act) requires all clinicians who 1) bill Medicare more than $30,000 in Part B-allowed charges, or 2) provide care for more than 100 Medicare Part B beneficiaries to report specific data under the Quality Payment Program via either MIPS (Merit-based Incentive Payment System) or an Advanced Alternative Payment Model (APM).

It’s a smaller business world after all. With the ease and popularity of e-commerce, as well as the incredible efficiency of many supply chains, companies of all sorts are finding it easier than ever to widen their markets. Expanding one’s business has become so feasible that many businesses quickly find themselves crossing state lines.

While lending regulations have been the recent regulatory hot-topic, banks should continue to be concerned about the Bank Secrecy Act (BSA) and the impending changes associated with the new due diligence standards regarding beneficial ownership.

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this distinction matter?

Profit fade — a gradual decline in expected gross profit over the course of a project — can be the bane of a contractor’s existence. This scourge may not only hurt your financial performance; it may also raise a red flag with sureties and lenders.

Superheroes are often thought of as fictional, costumed crusaders who battle villains, but you need not open a comic book to marvel at the employees in various industries (including healthcare and government) who are fighting crime every day. Their weapon of choice? The Death Master File (DMF).

Most nonprofit organizations typically receive support in the form of money, but many times, they also receive goods to use or sell, as well as intangible items, such as services or free use of facilities.

As we mentioned in our previous article, there is uncertainty around the Consumer Financial Protection Bureau (CFPB) and its current structure under the new administration.

With Republicans in control of Congress and President Trump’s broad outline to overhaul the tax code, businesses await legislation that could have significant impact on their tax burden.

Lucy Carter, CPA, member and practice leader of the KraftCPAs healthcare industry team, led the Healthcare Industry Panel at The Rainmaker Companies SuperConference in June.

Any entity that handles health information or other sensitive data should be intimately familiar with HIPAA, HITECH and HITRUST.

The Advance Beneficiary Notice of Noncoverage (ABN), Form CMS-R-131, is issued by providers (including independent laboratories, home health agencies, and hospices), physicians, practitioners, and suppliers to Original Medicare (fee for service) beneficiaries in situations where Medicare payment is expected to be denied.

The lessons learned from PECO Logistics v. Walnut Investment Partners.

Retention guidelines help determine whether to keep or destroy tax records.

Healthcare systems are seeing global transformation, with governments and providers trying to reconcile increased costs with rising demand for greater accessibility and higher-quality care. In March, Scott Mertie, president of Kraft Healthcare Consulting, LLC, participated in the Nashville Health Care Council’s 2017 International Health Care Study Mission to the United Kingdom.

KraftCPAs has earned the designation of HITRUST CSF Assessor through the Health Information Trust Alliance (HITRUST).

Governor Haslam signed the Improving Manufacturing, Public Roads and Opportunities for a Vibrant Economy Act (the IMPROVE Act) on April 26. Originally proposed in late January of this year, the Act includes a new transportation plan as well as tax cuts (also referred to as tax inequities).

Is your practice experiencing a decline in net income? Do daily operations feel chaotic with complaints from patients about wait times, billing, etc.? Perhaps your practice is running smoothly enough, but you feel that things could be better.

Operating a nonprofit in today’s environment is challenging; increasingly, organizations are finding solutions through collaboration.

The IRS has issued much-anticipated final regulations intended to keep multinational companies from moving their profits offshore to avoid paying U.S. income taxes.

“Customization” can be a dirty word when it comes to software implementations. Ten years ago, a customization could mean hours of consulting and coordination among the business owners, the functional consultant and a software developer — just to define the requirements and to plan how the customization would be developed.

“Regulation has actually been horrible for big business, but it’s been worse for small business,” President Donald Trump said. “Dodd-Frank is a disaster.”

Leadership Health Care (LHC), an initiative of the Nashville Health Care Council to nurture the talent of Nashville’s emerging health care leaders, has announced its 2016 award winners in the categories of Health Care Emerging Leader of the Year, Ambassador of the Year and Supporting Organization of the Year.

The recent devastation in the southeastern United States will likely result in heightened regulatory attention to flood regulation compliance. Flood insurance laws and regulations have been, and continue to be, a hot topic with regulators.

For the first time in more than two decades, the Financial Accounting Standards Board (FASB) has issued major changes to the accounting standards for nonprofit organizations’ financial statement presentation.

It will come as no surprise that investors in the real estate market are doing very well right now. With these increased real estate values comes significant opportunity for business owners who own the property on which their business is operating.

Familiarity breeds contempt. That’s how some bank compliance officers have come to regard the TILA-RESPA Integrated Disclosure Rule (TRID). I’ve heard some compliance officers transform the acronym into “The Reason I Drink.”

The Financial Accounting Standards Board (FASB) has released a long-awaited accounting standard that responds to some concerns prompted by the global financial crisis.

The value of your manufacturing company depends on a variety of factors, such as what products it manufactures, how it’s expected to perform, where it’s located and why you’re appraising it. Let’s take a closer look at the current merger and acquisition (M&A) market and how appraisers use three techniques to value manufacturers.

Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision of whether to sell, dissolve or transfer their business to family members. A business transfer involves several complicated issues, such as how to divvy up the family business into logical pieces, allocate value and tackle complex tax issues.

In 1802, President Thomas Jefferson sent Robert Livingston to Paris to negotiate the purchase of the city of New Orleans and its surrounding area from France. Entering the negotiation, they were prepared to spend $10 million for this acquisition.

There’s a trade-off between risk and return in business valuation. Investors expect to receive a higher return as the company exposes them to greater risk. Industry-specific risk is an important consideration when estimating an investor’s expected return. Here’s how business valuators measure industry risks and factor them into their analyses.

With the Consumer Financial Protection Bureau (CFPB) cracking down on improper lender compensation plans, banks should anticipate increased scrutiny in this area from their primary regulator.

Today it’s becoming increasingly common to work from home. But just because you have a home office space doesn’t mean you can deduct expenses associated with it.

On Nov. 11, 2015, the Financial Accounting Standards Board (FASB) decided that large banks that file with the SEC would apply the new CECL standard in annual and interim periods beginning after Dec. 15, 2018, which will mean the first quarter 2019 and year end 2019 filings.

Business owners enter into stock-purchase agreements to facilitate buyouts upon certain triggering events, such as a shareholder’s death or divorce. But sometimes courts disregard these agreements, leaving shareholders vulnerable to paying (or receiving) an amount mandated by a judge who may not be familiar with the parties’ preferences or financial conditions.

Estate planners often use family limited partnerships (FLPs) and family limited liability companies (FLLCs) to consolidate a family’s wealth management, protect assets against creditors, and reduce gift and estate taxes. FLPs and FLLCs reduce taxes via valuation discounts for lack of control and marketability that are subtracted from the net asset value of the entity’s holdings.

In 2014 alone, the Financial Crimes Enforcement Network (FinCEN) and regulatory agencies assessed over $2 billion in penalties for violating the Bank Secrecy Act (BSA.) So while lending and deposit regulations have garnered a lot of attention recently, don’t let your team become lax about BSA compliance.

Consolidation among healthcare providers has increased over the past few years, in part because physician practices experience lower reimbursement rates from Medicare and Medicaid, and they lack the bargaining power to drive up reimbursement rates from their commercial payers.

At a recent banking conference, it became clear that the topic keeping CEOs and CFOs up at night is cybersecurity. Boards and their audit committees are also troubled about cybersecurity with good reason.

On Oct. 2, 2014, the Federal Financial Institutions Examinations Council (FFIEC) released Financial Institution Letter 50-2014 (FIL-50-2014) — providing some good news for private banks.

The regulatory environment continues to evolve in 2015 with new disclosure requirements taking effect Oct. 3, 2015.

Manufacturing has been returning to the U.S. in a big way over the past five years. In a recent Wall Street Journal article, it is noted that not only are companies considering it patriotic to stamp “Made in the USA” on their products, but they can also make more money doing so.

Perhaps you’ve heard the expression “time kills all deals.” While that may be true, it appears that valuation gaps — differing deal pricing expectations between buyers and sellers — are the most common deal-killing culprit. The 2014 Pepperdine Private Capital Markets Report was recently issued and included information from debt capital providers, equity investors, investment bankers and business brokers regarding 2013 activity. Let’s take a closer look at survey results from business brokers and investment bankers regarding sources of deal failure.

Throughout the years, Scott Mertie, president of Kraft Healthcare Consulting, LLC (KHC), has attended healthcare delegations to China and multiple European countries that have government-run healthcare systems. While Scott was visiting the Republic of Cuba on a personal excursion earlier this year, he envisioned a trip where the activities would allow him to explore the country’s national healthcare system.

Modifier -59, Distinct Procedural Service – “the go-to,” “catch-all,” “covers everything” modifier, has finally received a much needed update.

The year 2014 is expected to be a strong one for merger and acquisition (M&A) activity. Several factors are contributing to a deal-friendly environment such as inexpensive debt capital, strong stock prices and cash-heavy balance sheets that provide the currency needed to enter into deals. In addition, overall macro-economic strength continues to build. Against this backdrop, there is pent-up demand in those who wish to grow through acquisitions after years of standing on the sidelines during a slow economic recovery.

Size does matter. Mergers between small-capitalized, privately held companies are different animals from larger-cap and public company combinations. Small deals can run more smoothly than large ones, but they also can get bogged down in issues that neither party could ever foresee.

Professional services provided on or after Sept. 10, 2013, will be allowed by CMS to use the 1997 Documentation Guidelines (DG) concerning the extended History of Present Illness (HPI) in conjunction with the 1995 guideline for extended HPI.

As national health reform begins arriving at our door step, more and more physicians are taking down their shingles and joining hospitals or emerging national healthcare practice companies as employees.

To many businesses, their brand is a critical business asset. Of course, the value of this asset may not be identified on the balance sheet since many of the brand-building investments made by companies are expensed over time. However, when one company acquires another company, brand-related value may be recognized on the balance sheet of the acquiring company.

Scott Mertie was part of a delegation of approximately 30 healthcare leaders to visit Paris in April — a trip spearheaded by the Nashville Health Care Council (NHCC).

The Centers for Medicare & Medicaid Services (CMS) released Medicare Fee-For-Service Recovery Audit Program Myths.

2nd Generation Capital, LLC, the merchant and investment banking firm affiliated with KraftCPAs PLLC, announced on Wednesday the successful acquisition of its Chattanooga-based client, Anesthesiologists Associated, P.C. (AA) by MEDNAX , Inc. (NYSE – MD).

Leadership Health Care (LHC), an initiative of the Nashville Health Care Council to nurture the talents of future health care leaders, has announced its 2012 award winners in the categories of Health Care Emerging Leader, Volunteer of the Year and Supporting Organization of the Year.

Healthcare providers are justifiably worried about cuts in reimbursement, but some are finding other services they already perform that can add legitimate revenue to the business if they are coded properly. As the healthcare industry coding system evolves, it is critical to understand code changes along with the relative reimbursement value of each change.

Despite opposition from the American Medical Association, the Medical Group Managers Association and numerous state specialty societies, The Centers for Medicare & Medicaid Services has approved RAC review of E/M services.

Superbills aren’t necessarily supposed include every code a physician might report. The superbill is typically a one-page reference of the most common codes used in a particular practice.

The Electronic Health Record Initiative program established by the Centers for Medicare and Medicaid Services (CMS), for eligible healthcare professional and facilities, is being implemented, and CMS is preparing to begin compliance audits related to the “meaningful use” reporting rules.

CMS issued a proposed rule for comments on “Reporting and Returning of Overpayments”. This rule, if finalized, would require persons (providers and suppliers) to “report and return overpayments by the later of the date which is 60 days after the date on which the overpayment was identified; or any corresponding cost report is due, if applicable.”

What happens after a patient leaves a facility can have a huge impact on reimbursement.

CMS has announced that their contracted Recovery Audit Contractors will focus their attention on Inpatient Rehabilitation Facilities (IRFs) in 2012 to determine if IRFs are submitting data compliantly.

Catholic Health Initiatives – Iowa (CHI) received a summary judgment in their favor from the District Court for Washington D.C. related to their FYE: June 30, 1997 cost report.

Scott Mertie traveled to London, England and Edinburgh, Scotland on a Health Care Study Mission.

Scott Mertie and Kevin Crumbo accompanied Governor Bredesen and Economic Community Development Commissioner Matt Kisber on individual trade missions to China and Japan.