06/19/2025

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

The Senate’s version of One Big Beautiful Bill Act has a $10,000 SALT cap as  placeholder, contrasting the House’s $40,000 cap with income phaseouts. Republicans prioritize permanent policy, supporting tighter SALT limits. PwC’s Rohit Kumar calls the $10K figure an “opening bid,” while EY’s Ray Beeman warns the Senate on losing revenue when PTET cap increases.

The Senate draft broadens PTET SALT deduction access by removing the House's exclusion of specified service trades or businesses (SSTBs) like accountants, lawyers. A cap of either $50,000 or half total deduction whichever is greater, remains established. While the Senate favors SSTBs more, AICPA sees tax increases for pass-throughs compared to corporations. Final decisions on SALT and PTET provisions remain in flux as negotiations continue to arise.

Source: Thomson Reuters

💎 Rare Accounting Oddities

While handing out the correct envelopes, PwC partner Brian Cullinan got distracted snapping a photo with Emma Stone, accidentally giving presenters the Best Actress card instead of Best Picture. 

The result? La La Land got wrongly announced for the prize, and the real victor, Moonlight, only got their spotlight after some chaotic onstage correction. PwC owned the blunder, however, the damage was already done.

So, the next time you're checking a financial statement, remember—never underestimate the power of one distracted accountant. Hollywood drama, meet accounting protocol.

You know GAAP like the back of your hand. But when someone mentions Stark Law, HIPAA, or Form 990, your CPA energy suddenly flatlines. Don’t worry—you’re not alone. 

Wisdify’s Healthcare Accounting Series is designed for accountants who know tax regulations but feel confused when navigating the healthcare compliance jungle.

Accounting for Healthcare Technology Investments helps finance professionals assess, report on EHR systems, AI tools, SaaS platforms. The discussion covers ROI models like payback period, NPV, IRR, capitalization rules, amortization methods, disclosure requirements specific to healthcare technological assets. Capitalizable vs. non-capitalizable costs, various amortization methods, precise financial reporting, and cash flow statements will be discussed.

Healthcare Taxation & Compliance offers tax rules and financial reporting on for-profit and nonprofit healthcare industry, exploring IRS forms like 990, 1023, and 990-T, tax-exempt status under 501(c)(3), Unrelated Business Income Tax (UBIT), and handling operational compliance. Tax credits and incentives (ERC, R&D credits, and green energy deductions) will be focused on. Audit preparedness, documentation best practices, tax application based on organizational structure will be discussed.

The courses are delivered in bite-sized 5–20 minute videos with quizzes, and final assessment, ideal for busy professionals strengthening their expertise in healthcare-tech accounting.

If you’ve ever dreamed of collaborating with premium healthcare clients or stepping into a healthcare-accounting role—this is your fast track. Built by accountants, for accountants.

In healthcare, laughter might not be the best medicine… but mind clarity is.

Source: Wisdify

📝 Journaling Insider

Baker Tilly is acquiring Sockeye, a leading Sage Intacct partner based in Anchorage, Alaska. Known for its construction strength and real estate finance solutions, Sockeye brings cloud-based expertise aligning with Baker Tilly’s push for scalable, real-time financial systems. The move solidifies Baker Tilly’s position in high-demand project-driven markets in the U.S.

Sockeye supports over 2,000 businesses across the U.S. and Canada with ERP implementations and system integrations. CEO Nick Brorson highlighted shared values and focus on innovation and client success, framing the deal as a step towards expanding global reach and supporting complex financial needs, giving Baker Tilly a capable Sage Intacct team.

Source: CPA Practice Advisor

💰 Making Cents of Accounting

#AccountingHacks🙄🪄