Blogs

What You Need to Know About HRAs for 2020

Illumeo Customer Success's Profile

For many employers, there are changes coming to the currently-offered Health Reimbursement Accounts (HRA) available to employees.  For health plans beginning on or after January 1, 2020, there are three types of HRA plans available, depending on the size of the employer.  The primary goal of the expansi

Cracking the Bookkeeping Code

Lynn Fountain's Profile

Most professions have their unique terminology that professionals use when engaging in work processes.  For accounting and bookkeeping, terminology like debts and credits, T-accounts, accruals, amortization, depreciation, GAAP, GAAS, GASB  etc. can seem like a barrier to really understanding how to record and process certain transactions.

Who Needs Corporate Tax Training?

Illumeo Customer Success's Profile

It’s unlikely that you will ever come across anyone who enjoys paying taxes, much less preparing them!  For those required to file corporate tax returns, the task can be even more challenging and unnerving that preparing their individual returns.  The current tax environment is a complex one that

Handling Disaster Relief Payments…Taxwise

Vicki Lambert's Profile

Disaster occurs without warning.  Your employees may be affected by wildfires, earthquakes, hurricanes, ice storms and/or tornados.  When a disaster occurs, personal lives can be upended.

The Importance of Corporate Tax Planning

Illumeo Customer Success's Profile

Benjamin Franklin is often credited with saying “nothing is certain in life but death and taxes”.  While this quote has been edited to include all sorts of silly sayings and puns, it can hardly be argued against, especially when it comes to taxes.  Everyone is affected by taxes - they cannot

DOL Proposing Rules for Tip Credit Provisions

Vicki Lambert's Profile

The U.S. Department of Labor (DOL) has announced a proposed rule for tip provisions of the Fair Labor Standards Act (FLSA).  The proposed rule would implement provisions of the Consolidated Appropriations Act of 2018 (CAA).

Avoiding Pain in Systems Transitions

Gene Siciliano's Profile

About Knitting and Systems Evolution

Alert: This is not a techie post about bits and bytes. It’s about making good decisions when your internal growth requires support from outside your company in an area that is not your area of expertise. And it’s from an actual case history, although the end to the story is yet to be written.

GAAP vs. IFRS

Illumeo Customer Success's Profile

GAAP stands for Generally Accepted Accounting Principles and is the accounting standard used by the United States.  The standard-setting board behind GAAP is the Financial Accounting Standards Board (FASB).

Setting Yourself up for Payroll Processing Success

Illumeo Customer Success's Profile

Ask any employee the most important department in his or her company and you will likely receive a unanimous answer of "the payroll department!".  We all recognize the value of receiving timely and correct paychecks but most of us are unaware of the detail that goes into preparing payroll in accord