In the past several years, hospitals have continued to feel the impact of increased utilization of contract nursing and other contract services. Although these services have developed into a major expense line item, it is important for hospitals understand how expenses related to contracted services can impact the wage index factor for Medicare reimbursement. Contract […]
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Rising interest rates and historic inflation are impacting hospital purchasing decisions. Using capital efficiency concepts in making hospital purchasing plans is as important as ever. What is Capital Efficiency? Capital efficiency refers to how effectively a hospital deploys its resources to generate returns. In the context of fixed assets and software purchases, capital efficiency involves […]
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By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. A pass-through entity tax proposal is currently making its way through the Kentucky General Assembly as part of a larger tax omnibus bill (Kentucky House Bill 360). The pass-through entity (PTE) tax provisions in the bill are intended to be retroactive to January 1, […]
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We’re entering the final weeks of Period 4 reporting period that closes on March 31, 2023. Period 4 reporting is required for any organization that received more than $10,000 in the aggregate from the Phase 4 PRF distributions and the ARP Rural payment between 7/1/21 and 12/31/21. Most recipients of Phase 4 and ARP Rural […]
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Recent changes by the U.S. Department of Labor to the Form 5500, Form 5500-SF, and related instructions will impact future audit requirements for employee benefit plans. Understanding the Plan Audit Requirements Historically, an employee benefit plan has been required to receive an annual audit by an Independent Qualified Public Accountant (IQPA) when filing its Form […]
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Conducting a feasibility study is an essential step in determining the viability of implementing a new healthcare program, service, or project. These studies help healthcare organizations assess the potential risks and benefits of their proposed projects before investing significant time, money, and resources into planning for them. Feasibility Studies 101 Feasibility studies typically involve an […]
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By Laura Rakaska, CPA, Tax Manager and Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. On February 22nd, Governor Eric Holcomb signed Indiana Senate Enrolled Act 2, making Indiana the 30th state to enact pass-through entity tax (PTET) legislation. This bill received full bipartisan support because it levels the playing field for businesses […]
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By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. Kentucky House Bill 1 was signed into law by Governor Beshear on Friday, February 17th. It reduces the individual income tax rate another 0.5 percent in 2024. This is a continuation of what we saw in 2022. Last year’s legislation (HB 8) gave us […]
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Although all benefit plan audits involve complexities, a first-year audit can seem especially daunting. With decades of experience serving employee benefit plans, Blue & Co. works as a team with our clients to make sure each audit experience is an efficient, yet effective, one! While the list below was put together with first-year audits in […]
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If you have attended a continuing education conference in the past year or opened your business’ mail since 2021, you have likely heard that you might be eligible for a tax credit of up to $26,000 per employee! While that might be true, eligibility for the Employee Retention Tax Credit is more nuanced than the advertisements […]
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Trusted Insights from The National Bank of Indianapolis Nonprofit Services Team Not-for-profit organizations are increasingly falling victim to fraud, with a rising number of incidents and an ever-growing amount of money being lost. Fraudsters find it easy to target not-for-profits, as their publicly available 990s provide valuable information. Protecting your organization from such fraudulent activities […]
Rising interest rates and historic inflation are impacting hospital purchasing decisions. Using capital efficiency concepts in making hospital purchasing plans is as important as ever. What is Capital Efficiency? Capital efficiency refers to how effectively a hospital deploys its resources to generate returns. In the context of fixed assets and software purchases, capital efficiency involves […]
By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. A pass-through entity tax proposal is currently making its way through the Kentucky General Assembly as part of a larger tax omnibus bill (Kentucky House Bill 360). The pass-through entity (PTE) tax provisions in the bill are intended to be retroactive to January 1, […]
