05/02/2025

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

As Trump reached his 100th day in office, Big Four firms: EY, PwC, and KPMG discussed the fast-moving tax policy landscape, highlighting efforts on TCJA provisions through a budget reconciliation bill. KPMG noted the House aims to move tax measures by Memorial Day and pass the bill before the August recess, despite tensions over spending cuts between chambers.

EY’ said Trump’s tax agenda, including no tax on tips or overtime and incentives for domestic manufacturing, will shape the bill. In response, EY and PwC advised businesses to enhance political risk tracking and consider business strategies like Code Sec. 355 spinoffs or “up-C” structures for managing non-core assets and staying tax-efficient despite changes. 

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

Because of XBRL (eXtensible Business Reporting Language), they basically do! XBRL turns financial reports into machine-readable data that people can instantly access. 

The SEC officially mandated its use during 2009, saving companies time, financial resources, and personnel sanity, with others even slashing reporting timelines by up to almost 70%.

So while you’re crunching numbers, just know that XBRL is making those numbers work harder, faster, and smarter behind the scenes, just for accountants worldwide. 

You’re a CPA - knowledgeable with debits and credits. But when it comes to healthcare-specific compliance like HIPAA, Stark Law, and HITECH, it can feel like you’ve just stumbled into an entirely different, and new language. 

Wisdify’s Healthcare Accounting series breaks down major compliance topics you’ll need to know, without burying you in legal jargon. The essentials of HIPAA privacy standards, various nuances of Stark Law, and how to make sense of HITECH regulations will be discussed. 💡

🗓️ Regulatory Frameworks in Healthcare Accounting – Unlock the essentials of HIPAA, Medicare/Medicaid policies, and fraud-prevention audits. (Coming 4/21)

🗓️ Cost Accounting in Healthcare – Tackle cost allocation, budgeting overhead productions, and increasing profitability with valuable strategies.

🗓️ Revenue Recognition in Healthcare – Master ASC 606, bundled payments, and financial reporting challenges unique to healthcare industry. (Coming 4/28)

You'll be a healthcare accounting pro in no time! 🩺 Ready to level up? Let’s get started. 

Source: Wisdify

🔢Numbers Don’t Lie

The IRS has announced updated health savings account (HSA) contribution limits for 2026 which reflects easing inflation. Individuals with self-only high-deductible health plan (HDHP) coverage can contribute up to $4,400, up $100 from 2025, while the family coverage limit rises to $8,750, a $200 increase. These adjustments follow smaller yearly changes regularly.

For 2026, an HDHP’s minimum deductible is $1,700 for self-only and $3,400 for family coverage, with annual maximums capped at $8,500 and $17,000 respectively. Although the Consumer Price Index (CPI) for March showed a 0.1% monthly decrease, and 2.4% annual increase, economists warn inflation may rise again because of tariffs on consumer prices.

Source: CPA Practice Advisor

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