07/10/2025

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! 

💸 Profit & Loss Report

Congress passed the 2025 Tax Act, extending the 2017 Tax Cuts and Jobs Act provisions, ensuring lower income tax brackets (10%–37%), removes marriage penalty for most brackets, and retains capital gains with updated breakpoints. The standard deduction rises in 2026 to $31,500 for joint filers, and indexed to inflation using a new 2024 base year. Inflation adjustments for lower brackets will now use 2016 as the base year to reduce bracket creep.

The Act offers tax-free treatment for tips, overtime, and U.S.-made auto loan interest, expanding to childcare credits, school choice benefits, senior exemptions, and kids savings accounts. Businesses gain from restored full expensing R&D capital investments, and stronger Opportunity Zone incentives. Meanwhile, it cuts Inflation Reduction Act funding, removing green credits like for commercial EVs, promoting domestic energy including nuclear. 

Source: Thomson Reuters

💎 Rare Accounting Oddities

Did you know that quantum computing —the mind-bending tech usually reserved for sci-fi plots and physics labs is now currently being explored to simulate accounting processes?

Theoretical applications showing how quantum computers revolutionize managing ledgers, optimizing financial models, detecting fraud by harnessing quantum bits. This reimagines our accountability foundations, making veteran accountants wonder at their financial statements.

Accounting processes now meet the futuristic quantum realm — and it’s not just theoretical, but also in practice, which is now considered to be one of accounting’s greatest leap of the century.

Are you looking for misclassified expenses tabs away but starts nervously fidgeting when you hear Stark Law or HIPAA? Don’t worry, you're not alone.

Wisdify’s Healthcare Accounting Programs is designed just for accountants like you: confident in financial statements, but unsure of healthcare compliance. This CPA-friendly series makes intimidating knowledge to insightful applications —without the extra legal mumbo jumbo.

📊 Healthcare Finance Data Analysis in Excel

CPEs: 2.5 | Field: Specialized Knowledge

Turn your raw healthcare data into real-world insight with a hands-on Excel course built just for healthcare financials. Build tables into dashboards, calculate ROI analysis on new projects, and make excellent financial reports they might get permanently framed.

✔ Structure financial datasets like a pro

✔ Build CFO-worthy dashboards for execs

✔ Make cash flow and sensitivity models

✔ Speak KPIs: revenue cycle, cost-per-patient

🌱 Healthcare ESG Reporting

CPEs: 2.5 | Field: Business Management and Organization

ESG reporting is here, and no—you don’t need a sustainability degree for it. This professional course breaks down ESG necessities for healthcare finance pros aligning values with healthcare regulations (while staying out of IRS trouble and their friend Schedule H).

✔ Master GRI, TCFD, GHG ESG frameworks

✔ Reporting the community benefit spending

✔ Quantifying ROI of various green initiatives 

✔ Designing internal controls and processes

Healthcare is a compliance jungle—but also a goldmine of opportunity for accountants who can speak the financial and regulatory language. This course is your launchpad to career success. 

Wanting to build regulatory compliance emails and start owning healthcare conversations? Subscribe, enroll, and prepare to become your healthcare clients’ favorite right-hand brain.

Wisdify—where your accounting excellence meets regulation savvy knicknacks.

Source: Wisdify

📝 Journaling Insider

The IRS recently stated in a Texas court filing the Johnson Amendment barring nonprofits from endorsing political candidates, is not applicable by churches through usual religious channels. This change stems from a lawsuit by religious groups claiming the rule violates First Amendment rights, aligning with prior Trump-era efforts to loosen restrictions. The reinterpretation applies only to plaintiffs and does not create national precedent. 

The IRS is avoiding direct usage of  the word “endorse,” while various critics say the filing builds legal ambiguity. Religious groups are still at risk on losing their tax-exempt status under future administrations, and experts warn how it could possibly lead to political exploitation of churches. Until the current IRS provides formal guidance, the said reinterpretation remains perceived as symbolic, not definitive—offering more legal uncertainty than clarity.

Source: CPA Practice Advisor 

💰 Making Cents of Accounting

#SpreadsheetDisaster🧾💥