I think your sole focus should be on finding the competent professionals that you need, and letting them do the work.
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Originally posted by ShredtheGnar View Post
Would an ICHRA be a better option? We could basically still pay the same amounts as we do now since there are no contribution limits. How would this work with Members’ insurance? Can employees still contribute to a HSA Account with these plans?Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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Originally posted by ShredtheGnar View Post
Would an ICHRA be a better option? We could basically still pay the same amounts as we do now since there are no contribution limits. How would this work with Members’ insurance? Can employees still contribute to a HSA Account with these plans?
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I suspect one or more of the folks on this list are both competent and taking new clients prior to May.
https://www.whitecoatinvestor.com/tax-strategists/
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Originally posted by Hank View PostI suspect one or more of the folks on this list are both competent and taking new clients prior to May.
https://www.whitecoatinvestor.com/tax-strategists/
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not sure if any of those folks will do business accounting and tax
I would widen your search, as Johanna pointed out a CPA doesn’t have to be local. You’ll find easily a dozen firms with a niche in physician group services with a quick google search.
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The CPA / QB Advisor combination should be sufficient to get you out of the ditch.
payroll and gl setup to accommodate your needs.
•Take your January payroll and load it in the system.
• Adjustments to get P/R and G/L fixed for the books for 2020 YTD.
• Get whatever new PR process up quickly.
Hint: the CPA and Advisor are more expensive than loan staff (available holy). Realistically, the systems work is small.
The time consuming part is making sure all the various payments , w-2’s and partners..
Don’t sign up for a one week project scoping deal.
Results will some time for tweaking. Get your business moving.
Reminder, you started this journey last December. This is a catch up situation now. It may turn into a ongoing relationship, see how well the fire gets put out.
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Think we are on track now. New CPA with the QB pro seem to have their act together. We were still missing some pieces for payroll but everything is in the works now. Talked to a company about the ICHRA and that should fit our needs. Will be setting that up. The FT employee won’t start until May, so luckily had a big enough window to get the plan in this year. It’s been a head spinning journey thus far. I’m hoping it will settle down soon.
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Originally posted by ShredtheGnar View PostThink we are on track now. New CPA with the QB pro seem to have their act together. We were still missing some pieces for payroll but everything is in the works now. Talked to a company about the ICHRA and that should fit our needs. Will be setting that up. The FT employee won’t start until May, so luckily had a big enough window to get the plan in this year. It’s been a head spinning journey thus far. I’m hoping it will settle down soon.Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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“We were still missing some pieces for payroll but everything is in the works now.“
Curious about the blanks. Did you decide which software or outsource service?
It is one thing to have data to be gathered and input.
It is another configure the pay types for the calculations etc.
It is another when the answer is “That’s not how the system works.”
My suggestion is to not put off the payroll setup. Build at least a prototype and test it. Sooner the better. Missing pieces scare me. That doesn’t mean it’s complicated, it’s we need to finish setting it up .
Hope that is what you meant.
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Originally posted by Tim View Post“We were still missing some pieces for payroll but everything is in the works now.“
Curious about the blanks. Did you decide which software or outsource service?
It is one thing to have data to be gathered and input.
It is another configure the pay types for the calculations etc.
It is another when the answer is “That’s not how the system works.”
My suggestion is to not put off the payroll setup. Build at least a prototype and test it. Sooner the better. Missing pieces scare me. That doesn’t mean it’s complicated, it’s we need to finish setting it up .
Hope that is what you meant.
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I was referring to your multiple pay types. You terminated your CPA last year and not sure which CPA you used in making the decisions. Good luck. Sounds like your on you way.
From a humor standpoint, the feds and state only send notices after the fact. You may need workman’s comp coverage as well. Most CPA’s don’t consider that as payroll tax. You may need to set up WC codes to meet reporting for the state. If you need WC insurance, they will audit you virtually 100% to tie out your payroll.
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Figured out that we needed WC on the 3rd day of having employees working. LOL. But, yes, no one told us about that either. Was frantically searching for an online policy. Ended up with BiBerk which is one of Buffett’s companies. Sent off the application for Unemployment Insurance Account with the state as well. Just sent out our 1st invoice to the hospital. Hoping that goes smooth. Filed W9 and provided proof of WC ins to them. Tracked each docs’ hours for each shift and gave that all to them. I can’t imagine they would have any issues with it.
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