06/20/2025

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! 

📝 Journaling Insider

A 2015 U.S. trade law revision allows international tobacco firms claimable tax refunds on imported cigarettes, as long as they export an equal amount. Companies that operate domestically paid $3.5 billion in excise taxes last year, resulting in a flood of Mexican-made cigarette brands with imports rising 23% in 2024 and projected to jump over 70% in 2025.

Imports grow as foreign companies rely on non-U.S. tobacco. The loophole might cost $2.2 billion annually, Congress projects $12 billion in losses over 10 years. Altria supports closing the loophole, defending it as corporate welfare, yet opponents claim benefits on exportation growth and job creation. A 2021 court ruling upheld the said provision, leaving final action to Congress.

Source: CPA Practice Advisor

💰 Making Cents of Accounting

#DelayedDocsDiaries💼👩🏻‍💻

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Your spreadsheets are practically majestic artforms. But when HIPAA, Stark Law, or Form 990 enters the room, you instantly feel like stumbling to a law discussion you didn’t sign up for.

Wisdify’s Healthcare Accounting Series is designed for accountants who excel in financial reporting but feel confused navigating through healthcare regulatory compliance.

Accounting for Healthcare Technology Investments helps master ROI analysis, capitalization rules, amortization methods, financial reporting best practices on various tech assets like EHRs, AI tools, SaaS platforms. Learners are equipped to assess strategic tech investments, differentiate between capitalizable and non-capitalizable costs under GAAP and IFRS, and precisely reflect these business investments on financial statements.

Healthcare Taxation & Compliance covers tax differences between for-profit and nonprofit healthcare entities, IRS forms like 990 and 1023, UBIT rules, tax credits (including ERC and R&D), and documentation best practices. Evaluating healthcare organizations’ tax positions, maintaining nonprofit compliance with 501(c)(3), audit preparations will be discussed. 

Whether you're looking to grow your expertise or break into healthcare accounting, these courses give you practical, in-depth knowledge leaning towards finance professionals.

Binge the 5-minute discussion videos, conquer various quizzes, and walk away ready to own your healthcare accounting game with strength, and confidence. 

Ready to go from “I think that’s a HIPAA thing?” to “I’ve got this handled”?

Start now in Wisdify. Your future healthcare clients will thank you later. 

Source: Wisdify

💸 Profit & Loss Report

Despite federal laws criminalizing undocumented workers, U.S. employers rarely face consequences. Current ICE raids target laborers in various industries, while business owners were left alone. Legal penalties for employers exist but are seldom applied. Experts say this lack of enforcement aligns with Trump’s political strategy to maintain support from employer-heavy sectors.

Undocumented labor remains vital to states where many employers avoid using E-Verify. Only 16% of state businesses are voluntarily enrolled in the system. Cracking down on employers disrupts essential industries, straining political alliances. Now, undocumented workers bear enforcement risks, facing deportation, family separation, while employers operate with little risk.

Source: CPA Practice Advisor

💎 Rare Accounting Oddities

The Certified Public Accountant (CPA) title was officially born in New York, in 1896. The first CPAs didn’t have any qualifying examinations—if you were already crunching numbers back then, you’ve already got the “special privileges”.

Roots go deeper as the American Association of Public Accountants (AAPA) was founded in 1887, with 31 accountants deciding to make it official. No Excel, just pure accounting grit.

So, the next time your CPE dashboard gives you a headache, remember: you're part of a professional legacy 130+ years strong—built on ledgers, laws, and legendary determination.