Generally Accepted Accounting Podcast

036 - New Rural Health Clinic Standards and Profitability

New Rural Health Clinic Standards
If you’ve listened to any of our previous episodes about rural healthcare, you’ve probably come to the not-surprising conclusion that, well, this stuff is complicated. When you add in new rural healthcare clinic standards — including issues like vaccines, roster billing, billing in real time, productivity standards, chronic care management, and more — well, things didn’t necessarily get a whole bunch simpler. Shareholder Mark Lyons hits some of the highlights of these changes that impact these facilities that serve such a vital role in our rural communities. Listen in to learn more!
 
Previous Mark episodes
Medicare Bad Debt
Funded depreciation and rural healthcare
Funded Depreciation and Rural Healthcare
Mark’s Path to Glory
Rural Health Clinics & Fruit Pizza
Rural Health Clinics Part II
Fun With Allowable Costs and Activities and Medicare Advantage Plans
Healthcare Allocation Statistics
Your Business and Inflation

035 - Roth IRA Conversions and Financial Therapy

Episode 35: Roth IRA conversions and financial therapy
Any time the markets get a little extra wonky, questions come up about Roth IRA conversions. So, we sat down with Emily Millsap — a Certified Financial Planner® and Certified Exit Planning Advisor™ with our friends at Avantax — to talk through the details. Emily covered who should and shouldn’t consider converting their traditional IRA, what to know about taxes, and how to avoid common mistakes. And just when we thought we were only discussing IRAs, things got real. Suddenly, we were talking about feelings behind money decisions and financial therapy, which is another super cool thing Emily is certified in. So, come for the technical knowledge about IRAs, and stay for how you feel about the dollars in that IRA. Listen in to learn more!
What is the Medicare income-related monthly adjustment amount?
Our wealth management services with Avantax
Other Avantax podcasts
GAAP Episode 025 – Meet Laura Gillen from Avantax
GAAP Episode 007 – Actively Managed Portfolios
AAP Episode 006 – What Exactly is a Fiduciary?

034 - Medicare Bad Debt

Healthcare organizations nationwide are navigating tighter margins and shrinking reimbursement rates. That’s why considering opportunities from Medicare bad debt is one way to find additional reimbursements. If the term “bad debt” makes you wonder what “good debt” is, our shareholder and healthcare expert Mark Lyons breaks it all down. Mark explains what types of bad debt are and aren’t allowable under Medicare rules, the challenges of collecting bad debt, and how healthcare facilities can minimize those challenges. This is an especially good episode for healthcare providers trying to wrap their arms and heads around all the rules … or for anyone who enjoys obscure government regulation trivia. So, good debt or bad debt, you’re going to want to listen in to learn more!
Resources
Frequently Asked Questions about Medicare Bad Debt
Previous Mark episodes
Funded Depreciation and Rural Healthcare
Mark’s Path to Glory
Rural Health Clinics & Fruit Pizza
Rural Health Clinics Part II
Fun With Allowable Costs and Activities and Medicare Advantage Plans
Healthcare Allocation Statistics
Your Business and Inflation

033 - Funded Depreciation and Rural Healthcare

Rural healthcare continues to be a hot-button topic. So, we brought back one of our frequent guests, Mark Lyons — who heads up our healthcare team — to talk about a kind of niche topic — funded depreciation. Mark defines what it is, talks about some scenarios, and gives advice about the approach that healthcare facilities can take to use funded depreciation for long-term capital planning. Does it sound complicated? Yes. Is it? Also yes. Fortunately, Mark’s super knowledgeable and super good about explaining the complexities. There’s lots of good info in this episode, so give it a listen to learn more!

032 - Meet the Miles Education Team Members

In the past year, Casey Peterson, LTD has hired some team members who are part of the Miles Education program. These new team members have come to work in the firm’s various offices by way of India with some stops along the way in U.S. communities that were quite a bit larger and different than Nebraska, South Dakota, and Wyoming. So, we sat down with Venkata and Madhuri, to ask them about their experiences, how they got into accounting and the Miles Education program, what it’s like working for Casey Peterson, and most importantly, where they get their groceries from. So, listen in to learn more. 

031 - What to Bring to Your Tax Appointment

If you’re dreading visiting your CPA or accountant this tax season, no need to fear! One of our newest shareholders, Zach Van Sambeek, a CPA and CVA, is here to let you know what you should bring to your appointment to save yourself some time and money. Zach explains what information is helpful to have on hand whether you need your individual, business, or ag taxes filed. And as an added bonus, we even talk about bonus depreciation! (See what we did there?) So, dig out your shoebox of receipts and listen in to learn more!
Don’t forget these key items for your tax appointment
2024 Standard Deduction

030 - Top 3 GAAP Episodes of 2024

If you were disappointed by your results from Spotify’s Wrapped this year, we’ve got something to lift your spirits. It’s the Top 3 Casey Peterson, LTD GAAP episodes of 2024!
Now, did we use listener feedback and data analytics to compile this highly scientific list? Pfffff, absolutely not. Evan and Hillary just picked the three podcasts they liked best. That’s right; it’s all based on feeeeeeeeeelings, which probably makes most accountants nervous, as it should.
Anyway, if you’re short on time and just want to know the absolute Cannot Miss Podcasts of the past year, listen in to learn more!
Also, Jason Staats, we’re coming for you. Not, like, in a threatening way. We’re just gonna have you as a guest eventually.
Our Favs of 2024, not in the order they appear in this episode:
GAAP Episode 025 – Meet Laura Gillen from Avantax
GAAP Episode 023 – Rural Health Clinics & Fruit Pizza
GAAP Episode 021 – Meet Casey Peterson
GAAP Episode 026 – All About Audit and Attest
Honorable Mentions:
GAAP Episode 028 – Energy Incentives and Future Taxes with Dave McGuire
GAAP Episode 029 – Mark’s Path to Glory

029 - Mark's Path to Glory

Have you often thought that the path to managing shareholder of a mid-sized Midwestern CPA firm was full of wonder and glory? Have you actually ever considered the path of a managing shareholder at all? … Yeah, we thought not.
Either way, Casey Peterson, LTD’s own managing shareholder, Mark Lyons, a frequent guest of the podcast, talks about how he ended up where he did. It’s not at all the journey you might think it was and is a pretty good reminder that just because you’re not sure what you want to be when you grow up, that doesn’t mean you can’t find success as you figure it out. OK, yeah, that sounds like an after-school special.
But whether you’re considering a career in accounting, are already a tenured accounting vet, or just like a good yarn, Mark’s tale is for you! Listen in to learn more.
Other episodes featuring Mark:
GAAP Episode 024 – Rural Health Clinics Part II
GAAP Episode 023 – Rural Health Clinics & Fruit Pizza
GAAP EPISODE 022 – Fun With Allowable Costs and Activities And Medicare Advantage Plans
GAAP Episode 011 – Healthcare Allocation Statistics
GAAP Episode 008 – Your Business and Inflation

028 - Energy Incentives and Future Taxes with Dave McGuire

It’s part two of our conversation with Dave McGuire of McGuire Sponsel, our cost segregation partner! Last time was all cost seg all the time. This time, we talk about some of the new energy incentives, how businesses can utilize them, and discuss what could happen after the upcoming election (it doesn’t get political, promise).
Energy incentives are always a hot topic that can get confusing. But Dave does a great job of providing examples and laying everything out in an easy-to-understand manner. Don’t believe us? Listen in to learn more!
IRS’s Clean Energy Tax Incentives for Businesses (PDF)
Tax Incentives for Energy-Efficiency Upgrades in Commercial Buildings
Federal Solar Tax Credits for Businesses
Mostly residential energy efficiency federal tax credits
Department of Energy’s financing and incentives
IRS’s energy efficient home improvement credit

027 - Fixed Assets and Cost Segregation with Dave McGuire

Today’s episode is part one of our conversation with Dave McGuire of McGuire Sponsel, our new partner that helps with cost segregation studies. We’re revisiting our very first episode about cost seg and depreciation to get into some more details.
This is a great episode for businesses looking for ways to possibly increase their cash flow or decide if a cost segregation study is right for them. It’s also a heckuva an episode if you just like to nerd out about tax regulations or enjoy squirreling away knowledge not a lot of other folks have.
You know you want to: Listen in to learn more!
Note: Dave references a lot of forms, regulations, and other details about cost seg and depreciation. So below are resources to define those references.
Rev prop 8765 (pdf)
ITC tax credits
Component depreciation
179 expensing
Bonus depreciation 168 k
2005 IRS audit techniques guide
1031 exchange
Passive income
Tax & Jobs Act
Tax rates