Generally Accepted Accounting Podcast

023 - Rural Health Clinics & Fruit Pizza

It’s the first Generally Accepted Accounting Podcast Happy Hour! For our first-ever installment, we did a first-of-its-kind interview with Micki Lyons, CEO and Family Nurse Practitioner with Crook County Medical Services District — one of the firm’s clients — in Sundance, Wyoming.
Micki has multiple nursing degrees, including a Bachelor of Science in Nursing, a Master of Science in Nursing, a Doctorate of Nursing Practice, and a Natural Health Certification. Before joining CCMSD as a provider, Micki served as a registered nurse for the facility in the hospital and emergency departments for seven years. She also worked as a school nurse for Crook County School District for 13 years. Oh, also, she’s married to our managing shareholder, Mark Lyons, who also joined in the interview.
This is a two-parter, and for the first part, it was almost all business, specifically rural health care clinic business. Micki did a deep dive, talking about different types of rural healthcare clinics, the challenges they face, why the clinics are so important, and what keeps her coming back.
Oh, and also, fruit pizza. Yeah. The link’s below.
Micki Lyons, DNP-C, CEO bio
Mark Lyons, CPA, Managing Shareholder, Board President bio
What’s a rural health clinic?
NPR: Older Americans say they feel trapped in Medicare Advantage plans
Glazed fruit pizza (Not for Mark)

022 - Fun with Allowable Costs and Activities and Medicare Advantage Plans

Our managing shareholder, Mark Lyons, is back as we continue our healthcare series. This time, we start with Medicare allowable costs and activities. And then, we enter into the seedy underbelly of Medicare Advantage Plans. … OK, it’s not all that seedy, but it sure makes things complicated for critical access hospitals. Anyway, you’ll learn about the difference between allowable costs and activities vs. unallowable costs and activities (turns out, those are not illegal things), different kinds of cost centers, and why Mark gets pretty fired up when it comes to TVs and telephones in hospital rooms. So, listen in to learn more!
Hospitals are dropping Medicare Advantage plans left and right
Trouble with Medicare Advantage Plans
High-level info about cost reports

021 - Meet Casey Peterson, the Guy Whose Name Is on the Building

In 1977, a young accountant named Casey Peterson decided to take a bit of a risk and start his own firm. He did so, in part, because he thought there might be a better way to do business and relate to clients and employees. More than 45 years later, a couple of those employees sat down with him to ask what he meant by “a better way,” what he’s learned during all those years … and what it’s like to have your name on a big building. Casey, like any good western South Dakotan, is a heckuva storyteller, so you’re gonna like this one. Listen in to learn more about how Casey Peterson, LTD came to be!
 
Meet Casey Peterson, CPA, AEP, PFS, Founder, Shareholder
Follow Casey on Twitter (or X or whatever Elon decides to call it next)
Follow Casey on LinkedIn

020 - Top 5 Blogs of 2023

GAAP Episode 20 – Our Biggest Blog Topics of 2023
Who doesn’t love a good retrospective?
People love Spotify’s “Wrapped” so much that we figured, “You know what they’d love more? A look back on our top accounting blogs in 2023!”
No need to thank us.
Anyway, we’ll take a look at how come your tax refund might have been smaller, what businesses need to know about e-filing, deductible medical expenses, and — the ever-popular — ERC scams.
Listen in to learn more about all these hot topics in 2023, and check out the blog below for more details.
TAX REFUND LOOKING SMALLER THIS YEAR?
WHAT YOUR ORGANIZATION NEEDS TO KNOW ABOUT THE IRS’S LATEST E-FILING CHANGES
SOME FAQS ABOUT DEDUCTIBLE MEDICAL EXPENSES
6 SIGNS THOSE ERC CLAIMS ARE A SCAM
WHAT TO DO IF YOUR BUSINESS NEEDS TO WITHDRAW AN ERC CLAIM

019 - Profit is a Good Thing

For a lot of ag producers, the end of the year means it’s time to find ways to lower their tax burden by spending and deferring. But shareholder and CPA Leah Heidler argues that a profitability mindset is a better way to approach this time of year. She outlines her argument, provides some practical applications, and — like any good rancher — talks about the weather. Oh, and also cheese making. We cover a lot of ground (land?), so listen in to learn more!
Blog post: A reminder for ag producers: Making a profit is a good thing
Meet Leah Heidler, CPA and Shareholder
Services for ag producers

018 - Accounting: But Y Tho?

If accounting makes you picture some grumpy old dude hunched over a spreadsheet, we’ve got good news (unless you like grumpy old dudes hunched over spreadsheets). Despite what TV and the movies have told us, the profession has a lot more nuances. Two of our team members — Cady Erb and Tyler McCarthy — talk about what drew them to the profession and what makes them stick around. So, if you want to learn what the profession’s really like, listen in to learn more!
Intrigued by what you hear? Apply today!

017 - Meet the Hosts

Have you ever wondered about the two yahoos behind the mic? No? Well, that’s a shame because they’re as interesting as they are hilarious … mostly. Also, they realized that after almost 20 podcast episodes, they’ve never actually said who they are or why they’re doing what they’re doing. And so, this podcast was born. Even if you don’t want to learn about two random podcast hosts you’ll probably never meet in real life, you should definitely tune in for the “would you rather” segment. Thought-provoking hilarity abounds! So, listen in to learn more!
 
Meet The Team | Evan Ludes
Meet The Team | Hillary Dobbs-Davis

016 - The Basics of AI - Part II

In case you couldn’t get enough of the robots the first time around (no, we don’t mean our AI experts Mark Erickson and Ryan Nankivel), we’re back with part two of the basics of AI! You’ll get more ethical and business discussions and some bonus anecdotes. And it’s all original content not generated by ChatGPT or anything! Probably! Embrace the future, and listen in to learn more.
Resources
AI ethical considerations you might not have considered
Advantages and Disadvantages of Artificial Intelligence
3 funny stories written by AI (“funny” as defined by the AI that wrote them, apparently)

015 - The Basics of AI - Part I

If terms like “artificial intelligence” or ChatGPT fill you with dread, uncertainty, or confusion, this episode is for you. Two of our resident AI experts sat down with us to define a lot of terms and talked about what different types of AI do. We also discussed business — and ethical — considerations and kicked around some anecdotes to try to make the topic a little more concrete.
Resources
The WIRED Guide to Artificial Intelligence
How AI is changing the workplace
15 top applications of artificial intelligence in business

014 - The Basics of Capital Gains

We get a lot of questions about capital gains. Are they good? Bad? Does it just depend? In this episode, our resident tax experts — Shareholder and Tax Vice President Kayce Gerlach and Senior Associate Garth Sandberg — give you just enough details without bogging you down with too much information. So, you’ll learn about what capital gains are, what they mean for stocks, how they affect the sale of your home or rental property, what a “wash sale” is (spoiler: not money laundering), and a whole lot more. Listen in to get them gainz!
 
We talked about step-up in basis back in our end-of-life planning podcast
Short-term vs. long-term gains, according to the IRS
What the IRS has to say about capital gains when you sell your home
What about dividends?
How do realized vs. unrealized gains work?
Ooo! Remember NIIT? No? Well, here’s some details, straight from the IRS