Generally Accepted Accounting Podcast

Episode 35: Roth IRA conversions and financial therapy

Any time the markets get a little extra wonky, questions come up about Roth IRA conversions. So, we sat down with Emily Millsap — a Certified Financial Planner® and Certified Exit Planning Advisor™ with our friends at Avantax — to talk through the details. Emily covered who should and shouldn’t consider converting their traditional IRA, what to know about taxes, and how to avoi...

Healthcare organizations nationwide are navigating tighter margins and shrinking reimbursement rates. That’s why considering opportunities from Medicare bad debt is one way to find additional reimbursements. If the term “bad debt” makes you wonder what “good debt” is, our shareholder and healthcare expert Mark Lyons breaks it all down. Mark explains what types of bad debt are and aren’t allowable under Medicare rules, the challenge...

Rural healthcare continues to be a hot-button topic. So, we brought back one of our frequent guests, Mark Lyons — who heads up our healthcare team — to talk about a kind of niche topic — funded depreciation. Mark defines what it is, talks about some scenarios, and gives advice about the approach that healthcare facilities can take to use funded depreciation for long-term capital planning. Does it sound complicated? Yes. Is it? Also...

In the past year, Casey Peterson, LTD has hired some team members who are part of the Miles Education program. These new team members have come to work in the firm’s various offices by way of India with some stops along the way in U.S. communities that were quite a bit larger and different than Nebraska, South Dakota, and Wyoming. So, we sat down with Venkata and Madhuri, to ask them about their experiences, how they got into accou...

If you’re dreading visiting your CPA or accountant this tax season, no need to fear! One of our newest shareholders, Zach Van Sambeek, a CPA and CVA, is here to let you know what you should bring to your appointment to save yourself some time and money. Zach explains what information is helpful to have on hand whether you need your individual, business, or ag taxes filed. And as an added bonus, we even talk about bonus depreciation...

If you were disappointed by your results from Spotify’s Wrapped this year, we’ve got something to lift your spirits. It’s the Top 3 Casey Peterson, LTD GAAP episodes of 2024!

Now, did we use listener feedback and data analytics to compile this highly scientific list? Pfffff, absolutely not. Evan and Hillary just picked the three podcasts they liked best. That’s right; it’s all based on feeeeeeeeeelings, which probably makes most ac...

Have you often thought that the path to managing shareholder of a mid-sized Midwestern CPA firm was full of wonder and glory? Have you actually ever considered the path of a managing shareholder at all? … Yeah, we thought not.

Either way, Casey Peterson, LTD’s own managing shareholder, Mark Lyons, a frequent guest of the podcast, talks about how he ended up where he did. It’s not at all the journey you might think it was and is a p...

It’s part two of our conversation with Dave McGuire of McGuire Sponsel, our cost segregation partner! Last time was all cost seg all the time. This time, we talk about some of the new energy incentives, how businesses can utilize them, and discuss what could happen after the upcoming election (it doesn’t get political, promise).

Energy incentives are always a hot topic that can get confusing. But Dave does a great job of providing ...

Today’s episode is part one of our conversation with Dave McGuire of McGuire Sponsel, our new partner that helps with cost segregation studies. We’re revisiting our very first episode about cost seg and depreciation to get into some more details.

This is a great episode for businesses looking for ways to possibly increase their cash flow or decide if a cost segregation study is right for them. It’s also a heckuva an episode if you ...

Audit, review, compilation, agreed-upon-procedures … oh my. It’s a podcast all about attest services. … Wait! Where are you going?! You’re going to want to hear this one, promise!

On today’s episode, we talk to CPA, shareholder, and vice president of our attest services team, Deidre Budahl. Deidre corrects all the misconceptions about audits (they’re not that scary, and in fact, your organization might not even need one) and talk...

Welcome to another Generally Accepted Accounting Podcast Happy Hour! This one’s with Laura Gillen, Certified Financial Planner, who works for Avantax, our firm’s wealth management and financial services planning partner. Laura’s taken a kind of nontraditional path to financial planning, and that’s given her a unique perspective on the industry and helping clients with their financial goals. She talks about how she got into the indu...

Here’s part two of the first-ever Generally Accepted Accounting Podcast Happy Hour! We’re back with the CEO and Family Nurse Practitioner, Micki Lyons. Micki leads one of the firm’s clients, Crook County Medical Services District, and is married to our firm’s managing shareholder, CPA Mark Lyons. For part two, we turned the Q&A mostly over to Micki and Mark so they could quiz each other. We’re not going to say chaos ensued. But...

It’s the first Generally Accepted Accounting Podcast Happy Hour! For our first-ever installment, we did a first-of-its-kind interview with Micki Lyons, CEO and Family Nurse Practitioner with Crook County Medical Services District — one of the firm’s clients — in Sundance, Wyoming.

Micki has multiple nursing degrees, including a Bachelor of Science in Nursing, a Master of Science in Nursing, a Doctorate of Nursing Practice, and a Na...

Our managing shareholder, Mark Lyons, is back as we continue our healthcare series. This time, we start with Medicare allowable costs and activities. And then, we enter into the seedy underbelly of Medicare Advantage Plans. … OK, it’s not all that seedy, but it sure makes things complicated for critical access hospitals. Anyway, you’ll learn about the difference between allowable costs and activities vs. unallowable costs and activ...

In 1977, a young accountant named Casey Peterson decided to take a bit of a risk and start his own firm. He did so, in part, because he thought there might be a better way to do business and relate to clients and employees. More than 45 years later, a couple of those employees sat down with him to ask what he meant by “a better way,” what he’s learned during all those years … and what it’s like to have your name on a big building. ...

GAAP Episode 20 – Our Biggest Blog Topics of 2023

Who doesn’t love a good retrospective?

People love Spotify’s “Wrapped” so much that we figured, “You know what they’d love more? A look back on our top accounting blogs in 2023!”

No need to thank us.

Anyway, we’ll take a look at how come your tax refund might have been smaller, what businesses need to know about e-filing, deductible medical expenses, and — the ever-popular — ERC sca...

For a lot of ag producers, the end of the year means it’s time to find ways to lower their tax burden by spending and deferring. But shareholder and CPA Leah Heidler argues that a profitability mindset is a better way to approach this time of year. She outlines her argument, provides some practical applications, and — like any good rancher — talks about the weather. Oh, and also cheese making. We cover a lot of ground (land?), so l...

If accounting makes you picture some grumpy old dude hunched over a spreadsheet, we’ve got good news (unless you like grumpy old dudes hunched over spreadsheets). Despite what TV and the movies have told us, the profession has a lot more nuances. Two of our team members — Cady Erb and Tyler McCarthy — talk about what drew them to the profession and what makes them stick around. So, if you want to learn what the profession’s really ...

Have you ever wondered about the two yahoos behind the mic? No? Well, that’s a shame because they’re as interesting as they are hilarious … mostly. Also, they realized that after almost 20 podcast episodes, they’ve never actually said who they are or why they’re doing what they’re doing. And so, this podcast was born. Even if you don’t want to learn about two random podcast hosts you’ll probably never meet in real life, you should ...