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Community Reinvestment Act Requirements | CRA New Rules 2024
What is the Community Reinvestment Act?The Community Reinvestment Act (CRA) was first enacted in 1977. CRA requires federal banking regulators to encourage financial institutions to help meet credit...
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Accounts Payable Automation Solutions for Your Business | MAXIS® by Freed Maxick
APA can transform your internal financial operationsManaging cash flow is a vital part of running a business. It can also be one of the most challenging. Accurate data on how much money a business is...
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Management Succession Planning for Not-For-Profit Organizations | Freed Maxick
Not-for-profit organizations must make MSP a priorityFrom the chair of the board to their newest volunteer, a not-for-profit (NFP) organization relies on people to promote its mission, expand its donor...
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ERC Tax Credit Audit 2024 Update | Freed Maxick
Newly proposed federal legislation will require ERC Promoters to disclose their clients to the IRS. This move increases audit scrutiny for all businesses, particularly those who sought promoter...
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2/22/2024 Alert: Change Healthcare Cyber Attack and Preparing for Its Effects
On February 21, 2024 at 2:15am EST, Change Healthcare (Change), which is owned by Optum, initially reported that some applications were “currently unavailable”. Several hours later (5:05 am EST) Change...
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IRS Audit Risk Alert | Understanding Your Letter 6612 | Freed Maxick
New Update: Understanding Your Letter 6612.The IRS escalated its verification efforts for Employee Retention Credit (ERC) claims. Businesses that submitted ERC claims are now under even closer scrutiny...
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Protecting your Financial Health: Considerations for Insurance Claims and...
The cyber-attack on Change Healthcare has severely impacted healthcare providers' financial operations, disrupting claims processing, billing, and prescription services, and putting patient care at...
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Technology for Nonprofits | Outsourced Accounting for Nonprofits | MAXIS by...
Not-for-profits can, and must, keep up with advancing technologyWhen thinking of technological innovation, the not-for-profit sector is not likely to be one of the first places that come to mind....
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Not-For-Profit Cost Allocation Best Practices for | MAXIS by Freed Maxick
Effective methods to allocate costs for informed decision-makingA significant challenge facing many not-for-profit (NFP) organizations involves determining how much of their resources and expenses to...
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Employee Benefit Plan Regulations in 2024: What Fiduciaries Need to Know |...
Fiduciaries for employee benefit plans (EBPs) have a challenging job. Staying on top of regulatory changes is a critically important part of that job. Congress, the U.S. Department of Labor (DOL) and...
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Nonprofit Budgeting Best Practices | Not-For-Profit Accounting | MAXIS by...
Tips for a not-for-profit's current and future budgetingA well-planned nonprofit budget gives an organization’s leadership more control, increased transparency, better accountability, and improved...
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Nonprofit Accounting: What Not-for-Profit Organizations Need to Know about...
Understand the nuances of financial reviewsIt’s common knowledge in the not-for-profit (NFP) world that Section 501(c)(3) of the Internal Revenue Code (IRC) establishes that a not-for-profit...
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On Premise ERP vs Cloud ERP | MAXIS® by Freed Maxick
ERP Solutions Enable You to Reliably Scale Up Your BusinessIn the ever-evolving landscape of business technology, staying ahead of the curve is critical for success. With Microsoft's announcement that...
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Denials Management | Medical Billing Denials | Freed Maxick Healthcare...
Part One: Increase in insurance denials spurs need for provider strategyIt is estimated that health insurers process more than three billion claims annually. It’s also believed that more than 15% of...
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Denials Management | Medical Billing Denials | Freed Maxick Healthcare...
Implementing a denials management strategy, leveraging data, and mitigating operationsThe complexities of medical billing can be burdensome to healthcare providers. Despite all the time and attention...
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ESOP Benefits for your Company’s Succession Plan Strategy | Freed Maxick
Planning an exit strategy from your successful company can be difficult at times. Though options abound, one that many companies fail to consider is an Employee-Owned Stock Ownership Plan, or ESOP....
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Cash Posting in Healthcare | Freed Maxick Healthcare Consulting
Cash posting procedures can ensure stronger cash flow for healthcare organizations‘Cash Posting’ in medical billing is the process of recording payments received from patients, insurance companies, and...
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New York Cybersecurity Regulation | NYCRR Part 500 | Freed Maxick
In November of 2023, the New York State Department of Financial Services (NYDFS) amended 23 NYCRR Part 500, otherwise known as the Cybersecurity Regulation. While the rule is aimed predominately at the...
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SECURE 2.0 Automatic Benefit Plan Enrollment | Employe Benefit Plan Audit |...
When the Secure 2.0 Act was signed into law in December of 2022, it listed various provisions that would become effective over time for employee benefit plans. As we approach the end of 2024, one of...
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Country Club Accounting | Golf Course Accounting and Management | NetSuite...
For small- to mid-market businesses (SMBs), including golf courses, country clubs, and similar operations, selecting the right operational system is a critical decision. It can affect everything from...
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