Blue Cross Blue Shield Settlement – What Is It And Are You Eligible?
In October of 2020, Blue Cross and Blue Shield (BCBS) companies agreed to a $2.67 billion dollar settlement in a class action suit filed by subscribers in 2012. The plaintiffs allege the defendants violated antitrust laws by entering into an agreement not to compete and to limit competition among themselves in selling health insurance and…
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What to do with all these pesky 1099s directed toward your business
I received an email from a dental client of mine yesterday – he unwittingly inspired this post. His question was, “What do I do with this mountain of 1099s that I have received in the business?” This is a short question with a long answer. First, the rules The may be a refresher for most…
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Medical Deduction Changes for Those 65 and Older
Many people over 65 don’t realize that after 2016, the medical deductions they have been claiming on their tax return are going to take a hit. Currently, medical deductions for anyone age 65 and older are limited to 7.5% of your adjusted gross income (AGI). In 2017, the limit is going to get bumped up to 10%…
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What You Need to Know About IRS Scam Calls
This summer has seen an uptick in IRS scam calls, and an evolution of strategies from the scammers themselves. We have received many calls and e-mails attempting to verify whether or not a call is legitimate, and most have unfortunately been fraudulent. On August 2nd, the IRS released a bulletin in which Commissioner John Koskinen…
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Billing and Collections | Engineering Firms
Take Charge of Billing and Collections Almost every professional services firm has issues with collections at some time or another. I regularly talk with engineering firms who let billing and collections get out of control. At the very least, most firms would benefit from making improvements to their collections processes. So let’s take a look…
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Keys to Effective Business Cash Flow Management
Plain and simple, businesses fail when they run out of cash. Depending on their attractiveness to lenders and the equity markets, some businesses may exist for many years without generating the first dollar of cash. But at some point, every business has to generate cash to survive, and this basic tenet of business holds true…
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