07/04/2025

Well, hi there! Sit back, enjoy, and relax as you’re currently on the Daily Accrual.

Every day, I sift through the accounting noise so you don’t have to. I share to you the most relevant, juicy accounting insights that really matter – nothing phony, just some good, accounting testimony! 

📊 Accountants Gone WILD

The “One Big Beautiful Bill Act”  narrowly passed by Congress, extending provisions and introducing tax reforms, standard deductions permanent, raising SALT cap to $40,000, while adding deductions for tips, overtime, car loan interests. Changes include expanded child tax credits, enhanced QBI deductions, and tax-free “Trump accounts”. Energy credits are repealed, while businesses are saved through expanded depreciation,anf family leave credits.

Internationally, OBBA replaces GILTI and FDII rules, increasing BEAT tax up 10.5% while modifying foreign tax credits. The passed House bill also increases various estate tax exemptions, removing the Pease cap on deductions, and tightening ERC compliance. Though opportunity zones and new market credits are now permanent, most clean energy incentives are eliminated. AICPA supports passing of the bill, but warns of its long-term complexity.

Source: Journal of Accountancy

🧮 COOL AF! (Cool Accounting Facts!)

With automation taking over data entry roles, cloud tech handling your financial housekeeping, and blockchain ushering in triple-entry systems, accounting is now getting a futuristic makeover. 

Think more like “automation do everything while you grab your second latte.” It’s a blockchain-based accounting system where every transaction gets an encrypted, verifiable stamp—making fraudulent activities harder to penetrate 

So yes, we may be entering a new generation of audit quality inspections you can finish in a press of a button. Now, accounting is no longer just spreadsheets and caffeine-fueled late nights. 

You’re definitely in the element when doing financial statements, but randomly drop acronyms like HIPAA, or Stark Law and suddenly it feels like you’ve wandered into a legal drama. 

Wisdify’s Healthcare Accounting Series is designed for accountants, now your backstage pass to confidently serving healthcare clients, leveling up into healthcare organizations, or understanding what “Schedule H” means.

Course 1: Healthcare ESG Reporting

Forget greenwashing buzzwords, this course demonstrates ESG by Environmental, Social, and Governance reporting actually working in healthcare. From carbon footprints to community benefit metrics, you’ll learn how to align sustainability data with financial reporting like a pro.

✨ Wisdify covers the fundamentals of:

• GRI, TCFD, and GHG Protocols

• Schedule H IRS Compliance

• ESG Data Control Management

• Quantifying ESG for Cost Reduction
  

  No prior ESG knowledge needed. Just your brain, calculator, and maybe a little bit of coffee.

Course 2: Value-Based Care & Population Health Accounting

If “fee-for-service” makes sense but “value-based reimbursement” doesn’t, this program is your new best friend. Confidently analyze Total Cost of Care, Medical Loss Ratios, and shared savings contracts while following GAAP, IFRS regulatory laws and your internal stress levels.

🚑 Wisdify covers the fundamentals of:

• Risk-sharing contract agreements

• GAAP & IFRS revenue recognition

• Strategic budgeting for chronic diseases

• Identification of health social determinants

• Aligning outcomes and healthcare costs 

  Have we mentioned there are real-world hospital case studies and no technical jargons during lessons?

Equip CPA professionals with in-demand knowledge using formats made for busy schedules: 5–20 minute video lessons, various educational quizzes, and final assessment— ideal for those transitioning into healthcare roles or wanting to serve premium clients in the healthcare sector.

You’re already a rockstar accountant. Wisdify just helps you play lead in healthcare.

Source: Wisdify

🔢Numbers Don’t Lie

The U.S. Supreme Court ruled ACA’s preventive services mandate remains constitutionally valid. The previous case questioned whether USPSTF members who recommended cost-free preventive services were properly appointed. A lower court initially deemed the various appointments unconstitutional, voiding all other related agency movements, a ruling the Fifth Circuit partially affirmed before the Supreme Court reversed it in 2025.

The Court held USPSTF members as “inferior officers” because they’re under supervision, removable, and overruled by the HHS Secretary. Congress validly gave the Secretary power to appoint such officers, making the appointments lawful. Because of this, ACA preventive care coverage remains uninterrupted, and no immediate changes are required for employer-sponsored health plans. The case now returns to trial court hearing for proceedings.

Source: Thomson Reuters

🐦 Twitter Showdown

#TaxBracketsExplained💰✂️