Generally Accepted Accounting Podcast

044 - Basics of Depreciation Under the OBBB

Wed, 11 Feb 2026 11:51:46 -0700

If you’ve ever had questions about depreciation, bonus depreciation, or section 179 deduction, you’re a nerd, and this quick-hit podcast is for you. Shareholder, CPA, PFS, and CVA Zach Van Sambeek explains what depreciation is, how it works, and how it changed under the One Big Beautiful Bill Act. Listen in to learn more!

043 - How to Avoid Lifestyle Creep

Fri, 23 Jan 2026 11:21:52 -0700

Although “financial lifestyle creep” might sound like a lost verse to a Radiohead hit, that’s not actually what we’re talking about on this episode. Shareholder and CPA, Kayce Gerlach, and senior associate and CPA, Shay Casey, offer some solid, not-preachy advice about how to avoid the trap of spending more just because you make more. They talk about how lifestyle creep happens, how to spot it, how to decide what things you should spend money on, and why a Walmart Plus subscription is totally worth it (we’re not even sponsored!) Even if you’re not a creep or a weirdo, this episode’s packed with good ideas and insights. So, listen in to learn more!

042 - Financial Therapy with Rick Kahler

Tue, 30 Dec 2025 11:42:01 -0700

It’s episode 42 of the podcast, and for fans of “Hitchhiker’s Guide to the Galaxy,” you know that means this one’s the answer to everything. Fittingly enough, the topic is financial therapy, and it might very well be the answer to everything. Our guest for this episode is financial therapist Rick Kahler from Kahler Financial Group. Rick explains what financial therapy is, what drew him to the field, the “money scripts” people tell themselves, and a whole lot more. This one’s “rich” with information (see what we did there?). So, listen in to learn more!

041 - 2025 Tax Planning with Lori Larson

Mon, 24 Nov 2025 12:15:24 -0700

It’s that special, magical time of the year! Sure, Thanksgiving, Christmas, New Year’s … those are great. But we’re talking about getting ready for the 2025 tax season! CPA Lori Larson offers five quick-hit tips for individuals and businesses so you can plan ahead now without having to add any extra stress to your holiday season. So, listen in to learn more!

GAAP Episode 019 – Profit Is A Good Thing

040 - Accounting in Philanthropy with Dr. Eric Zimmer

Fri, 31 Oct 2025 10:27:36 -0600

If you think charitable giving is just writing a check and hoping for the best, this episode might give you a little food for thought. Our guest is Dr. Eric Zimmer, Vice President of Philanthropy and Special Projects for Black Hills Area Community Foundation. He explains what the foundation does, why donors should consider investing their funds with the foundation, rather than trying to manage their investments on their own, and the importance of strong accounting practices. So, give us a little bit of your time, and listen in to learn more.

039 - Jenny Schmidt from Black Hills Advocate and @our605life

Tue, 30 Sep 2025 10:20:20 -0600

We don’t usually get famous people on the pod (OK, we never get famous people on the pod, even if all of our guests are stars to us), so this episode’s extra exciting. Jenny Schmidt and her wife, Tina, have garnered a huge social media following on TikTok and other platforms. But for this episode, Jenny talked about her day job doing incredibly important work through Black Hills Advocate, an organization dedicated to helping people navigate our increasingly complicated healthcare system. Jenny talks about what drove her to create Black Hills Advocate, the challenges of starting her own business, and what she wishes those in healthcare could do a little differently to help patients. So, join us as we fanboi and fangurl out, and listen in to learn more!

038 - The One About the One Big Beautiful Bill

Tue, 26 Aug 2025 10:06:42 -0600

Today we’re talking about the One Big Beautiful Bill, which, still surprisingly, is the name of the latest tax legislation and not a Netflix rom-com. Our tax expert, shareholder Kayce Gerlach, is back on the pod to break it all down — what’s in it for individuals, what’s in it for businesses, which tax breaks got a second life, and what shiny new benefits just showed up. So, listen in to see if the bill lives up to its beautiful name.

037 - Work Trends with Yutaka Takagi

Thu, 31 Jul 2025 14:33:07 -0600

You might have noticed that discussions about the topic of “work” have been all over the board since the pandemic. Whether it was “quiet quitting” or “nobody wants to work anymore,” it’s been hard to get any kind of consensus. So, our HR and payroll partners at isolved started doing research, asking employees and businesses their thoughts about today’s workplace. Isolved’s Principal Product Evangelist, Yutaka Takagi, sat down with us to discuss what the research shows and some practical applications employers can use to improve employee engagement. Listen in to learn more!

Surveys mentioned in this episode:

036 - New Rural Health Clinic Standards and Profitability

Mon, 23 Jun 2025 13:30:54 -0600

New Rural Health Clinic Standards

If you’ve listened to any of our previous episodes about rural healthcare, you’ve probably come to the not-surprising conclusion that, well, this stuff is complicated. When you add in new rural healthcare clinic standards — including issues like vaccines, roster billing, billing in real time, productivity standards, chronic care management, and more — well, things didn’t necessarily get a whole bunch simpler. Shareholder Mark Lyons hits some of the highlights of these changes that impact these facilities that serve such a vital role in our rural communities. Listen in to learn more!

Previous Mark episodes

035 - Roth IRA Conversions and Financial Therapy

Fri, 23 May 2025 10:12:37 -0600

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 avoid common mistakes. And just when we thought we were only discussing IRAs, things got real. Suddenly, we were talking about feelings behind money decisions and financial therapy, which is another super cool thing Emily is certified in. So, come for the technical knowledge about IRAs, and stay for how you feel about the dollars in that IRA. Listen in to learn more!

034 - Medicare Bad Debt

Tue, 29 Apr 2025 12:29:22 -0600

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 challenges of collecting bad debt, and how healthcare facilities can minimize those challenges. This is an especially good episode for healthcare providers trying to wrap their arms and heads around all the rules … or for anyone who enjoys obscure government regulation trivia. So, good debt or bad debt, you’re going to want to listen in to learn more!

Resources

Frequently Asked Questions about Medicare Bad Debt

Previous Mark episodes

033 - Funded Depreciation and Rural Healthcare

Mon, 31 Mar 2025 15:50:14 -0600

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 yes. Fortunately, Mark’s super knowledgeable and super good about explaining the complexities. There’s lots of good info in this episode, so give it a listen to learn more!

032 - Meet the Miles Education Team Members

Fri, 28 Feb 2025 11:53:49 -0700

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 accounting and the Miles Education program, what it’s like working for Casey Peterson, and most importantly, where they get their groceries from. So, listen in to learn more.

031 - What to Bring to Your Tax Appointment

Thu, 30 Jan 2025 11:23:07 -0700

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! (See what we did there?) So, dig out your shoebox of receipts and listen in to learn more!

030 - Top 3 GAAP Episodes of 2024

Tue, 17 Dec 2024 15:05:16 -0700

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 accountants nervous, as it should.

Anyway, if you’re short on time and just want to know the absolute Cannot Miss Podcasts of the past year, listen in to learn more!

Also, Jason Staats, we’re coming for you. Not, like, in a threatening way. We’re just gonna have you as a guest eventually.

Our Favs of 2024, not in the order they appear in this episode:

Honorable Mentions:

029 - Mark's Path to Glory

Thu, 14 Nov 2024 16:47:38 -0700

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 pretty good reminder that just because you’re not sure what you want to be when you grow up, that doesn’t mean you can’t find success as you figure it out. OK, yeah, that sounds like an after-school special.

But whether you’re considering a career in accounting, are already a tenured accounting vet, or just like a good yarn, Mark’s tale is for you! Listen in to learn more.

Other episodes featuring Mark:

028 - Energy Incentives and Future Taxes with Dave McGuire

Fri, 25 Oct 2024 10:12:12 -0600

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 examples and laying everything out in an easy-to-understand manner. Don’t believe us? Listen in to learn more!

027 - Fixed Assets and Cost Segregation with Dave McGuire

Fri, 27 Sep 2024 09:47:58 -0600

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 just like to nerd out about tax regulations or enjoy squirreling away knowledge not a lot of other folks have.

You know you want to: Listen in to learn more!

Note: Dave references a lot of forms, regulations, and other details about cost seg and depreciation. So below are resources to define those references.

026 - All About Audit & Attest

Mon, 19 Aug 2024 14:37:33 -0600

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 talks about how your nonprofit, school, or government entity can pick the right level of service.

Deidre even defines some jargony terms that you can trot out at your next dinner party … provided you’re partying with accountants.

Anyway, audit’s a way more nuanced and interesting field than people give it credit for, and you’re gonna wanna listen in to learn more!

025 - Meet Laura Gillen from Avantax

Tue, 02 Jul 2024 13:50:01 -0600

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 industry, what she loves about it, and how much of a huge nerd she is, which, honestly, is one of our favorite parts about her. Learn more about Laura!

024 - Rural Health Clinics Part II

Thu, 04 Apr 2024 12:45:56 -0600

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 the parts that we are able to release to the public are as insightful as they are entertaining. Don’t miss this episode!

023 - Rural Health Clinics & Fruit Pizza

Thu, 28 Mar 2024 11:38:44 -0600

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 Natural Health Certification. Before joining CCMSD as a provider, Micki served as a registered nurse for the facility in the hospital and emergency departments for seven years. She also worked as a school nurse for Crook County School District for 13 years. Oh, also, she’s married to our managing shareholder, Mark Lyons, who also joined in the interview.

This is a two-parter, and for the first part, it was almost all business, specifically rural health care clinic business. Micki did a deep dive, talking about different types of rural healthcare clinics, the challenges they face, why the clinics are so important, and what keeps her coming back.

Oh, and also, fruit pizza. Yeah. The link’s below.

022 - Fun with Allowable Costs and Activities and Medicare Advantage Plans

Wed, 28 Feb 2024 16:26:31 -0700

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 activities (turns out, those are not illegal things), different kinds of cost centers, and why Mark gets pretty fired up when it comes to TVs and telephones in hospital rooms. So, listen in to learn more!

Hospitals are dropping Medicare Advantage plans left and right

Trouble with Medicare Advantage Plans

High-level info about cost reports

021 - Meet Casey Peterson, the Guy Whose Name Is on the Building

Mon, 29 Jan 2024 12:02:04 -0700

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. Casey, like any good western South Dakotan, is a heckuva storyteller, so you’re gonna like this one. Listen in to learn more about how Casey Peterson, LTD came to be!

020 - Top 5 Blogs of 2023

Fri, 22 Dec 2023 13:16:20 -0700

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 scams.

Listen in to learn more about all these hot topics in 2023, and check out the blog below for more details.

019 - Profit is a Good Thing

Wed, 15 Nov 2023 13:49:18 -0700

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 listen in to learn more!

Blog post: A reminder for ag producers: Making a profit is a good thing

Meet Leah Heidler, CPA and Shareholder

Services for ag producers

018 - Accounting: But Y Tho?

Fri, 27 Oct 2023 13:17:23 -0600

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 like, listen in to learn more!

Intrigued by what you hear? Apply today!

017 - Meet the Hosts

Fri, 29 Sep 2023 12:11:54 -0600

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 definitely tune in for the “would you rather” segment. Thought-provoking hilarity abounds! So, listen in to learn more!

Meet The Team | Evan Ludes

Meet The Team | Hillary Dobbs-Davis

016 - The Basics of AI - Part II

Mon, 07 Aug 2023 12:14:31 -0600

In case you couldn’t get enough of the robots the first time around (no, we don’t mean our AI experts Mark Erickson and Ryan Nankivel), we’re back with part two of the basics of AI! You’ll get more ethical and business discussions and some bonus anecdotes. And it’s all original content not generated by ChatGPT or anything! Probably! Embrace the future, and listen in to learn more.

Resources

AI ethical considerations you might not have considered

Advantages and Disadvantages of Artificial Intelligence

3 funny stories written by AI (“funny” as defined by the AI that wrote them, apparently)

015 - The Basics of AI - Part I

Fri, 28 Jul 2023 11:11:16 -0600

If terms like “artificial intelligence” or ChatGPT fill you with dread, uncertainty, or confusion, this episode is for you. Two of our resident AI experts sat down with us to define a lot of terms and talked about what different types of AI do. We also discussed business — and ethical — considerations and kicked around some anecdotes to try to make the topic a little more concrete.

Resources

The WIRED Guide to Artificial Intelligence

How AI is changing the workplace

15 top applications of artificial intelligence in business

014 - The Basics of Capital Gains

Thu, 22 Jun 2023 13:07:26 -0600

We get a lot of questions about capital gains. Are they good? Bad? Does it just depend? In this episode, our resident tax experts — Shareholder and Tax Vice President Kayce Gerlach and Senior Associate Garth Sandberg — give you just enough details without bogging you down with too much information. So, you’ll learn about what capital gains are, what they mean for stocks, how they affect the sale of your home or rental property, what a “wash sale” is (spoiler: not money laundering), and a whole lot more. Listen in to get them gainz!

We talked about step-up in basis back in our end-of-life planning podcast

Short-term vs. long-term gains, according to the IRS

What the IRS has to say about capital gains when you sell your home

What about dividends?

How do realized vs. unrealized gains work?

Ooo! Remember NIIT? No? Well, here’s some details, straight from the IRS

013 - Nursing Home Star Ratings

Mon, 01 May 2023 10:24:57 -0600

GAAP Episode 013 – Nursing Home Star Ratings

Whether you manage a nursing home, work in one, or are considering one for a loved one, this episode is for you. Our resident nursing home experts, Charles Frizzell and Jackie Jermolenko, discuss the three main criteria for determining a nursing home’s star rating. There’s also the obligatory joke about PBJ not relating to a sandwich. And some bonus material about reimbursements for nursing homes increasing in South Dakota starting in July (it’s a good thing). You know the drill: Listen in to learn more.

History of Centers for Medicare & Medicaid Services Five-Star Rating System

Care Compare

South Dakota nursing home reimbursements get a boost

Grant money available to help alleviate S.D. nursing home staffing challenges

012 - Mental Health & the Future of Accounting

Fri, 31 Mar 2023 13:13:27 -0600

Today we're talking with our Firm Administrator, Vanessa Kaiser. Vanessa is a Licensed Clinical Social Worker, which means her background isn't in spreadsheets and numbers *gasp* but instead, she's worked with people and feelings! We talk about Vanessa's unique perspective as a non-traditional hire working for an accounting firm, mental health in the accounting industry, and what the future holds as younger generations advance in their careers. Listen in to learn more!

Show Notes:

Meet the Team | Vanessa Kaiser

The 4 Disciplines of Execution

Most accountants suffer burnout: study

Accountant Burnout is Way Up

Battling burnout

Hope Storm: Healing Coaching & Trauma Consulting

Dr. Quinn, Medicine Woman

0:00 Intro

1:30 Vanessa as a non-traditional hire

7:54 Highlighting mental health in our industry

9:16 What is burnout?

15:04 How will the accounting industry address burnout?

18:54 New generations coming to accounting

21:15 Will automation help reduce burnout?

25:00 Deadline-driven industries

29:45 Outro and joke

011 - Healthcare Allocation Statistics

Thu, 02 Feb 2023 16:29:01 -0700

This week, we sit down with managing shareholder Mark Lyons to discuss the ins-and-outs of allocation statistics and how they can impact healthcare cost reports. Listen in to learn more!

0:00 Intro

1:45 What are cost reports?

2:24 What are allocation statistics?

3:23 How often do statistics and requirements change?

4:52 Equipment depreciation

8:00 Requesting changes in allocation

10:49 Affected facilities

11:45 Cost report averages and best practices

14:17 Responsibilities and communication

15:47 Worksheet B-1

19:55 Cafeteria costs

22:47 Typical tricky statistics

26:38 Maximizing reimbursements and patient care

29:04 Outro

30:00 Joke

Cost reports are an important piece of reimbursements for Medicare-certified healthcare facilities.

According to the Centers for Medicare & Medicaid Services, those facilities have to submit an annual cost report to a Medicare Administrative Contractor. MACs work as a kind of intermediary between healthcare facilities and CMS.

Cost reports contain provider information such as:

Facility characteristics
Utilization data
Cost and charges by cost center
Medicare settlement data
Financial statement data

CMS maintains the cost report data in the Healthcare Provider Cost Reporting Information System.

Below are some high-level questions you can ask yourself when you’re gathering allocation statistics and filing out a cost report.

Questions when filing out Worksheet B-1:

Does housekeeping clean all the areas with a stat?
Are offsite locations (potential examples: Therapy, RHC, HHA, etc.) receiving an allocation from the cafeteria, housekeeping, or another supporting area they don’t use?
Are there better ways to allocate A&G costs (i.e., segmentation)?
Does central supply/purchasing order for all departments, or do some departments do their own ordering (e.g., lab, pharmacy, etc.)?
Does maintenance provide services to leased buildings?
Why are the non-reimbursable areas receiving allocations? Are those correct? If so, is there a way to limit the allocations?
Is there a way to deflect costs from non-cost based/nonallowable cost centers?
Can you direct cost certain costs for specific areas versus using allocation statistics?
When was the last time you updated your square-footage statistics? If it’s been more than a year, it’s a good idea to make sure the square-footage stats are up to date.

010 - Dashboards and Data Visualization

Wed, 11 Jan 2023 14:36:44 -0700

Our in-house data visualization experts, Mark Erickson, Neil Frizzell, and Devon Hochstetter, answer some helpful questions during this podcast. Questions like “data visual-what now?” What’s Jirav? Is that like a giraffe?” (It’s close!) “Is Power BI some kind of weight-lifting move?”

But seriously, you’ll get the lowdown on these and other tools that can help you grow and monitor your business. Listen in now!

Resources:

Microsoft Power BI

What is a KPI?

Data Analytics Podcast with Mark Erickson

0:00 Intro
1:45 What are data visualization tools?
7:45 Limitations of enterprise software
10:06 Advantages of dynamic data visualization
16:32 What value can this data provide for non-financial folks?
22:42 What businesses can benefit from data visualization tools?
28:26 Can data visualizations help with staffing issues?
32:00 Where to start?
35:40 Outro and joke

009 - Starting a New Business

Mon, 28 Nov 2022 11:35:36 -0700

If you’ve been thinking about starting your own business, our resident business expert and CPA Jennie Steinmetz is here to tell you everything you need to know. You’ll learn about regulations, registration, sales tax, payroll tax, R&D tax credits, B.A.I.L. (not the prison kind), and more. Listen in now!

0:00 Intro

2:18 What laws and regulations should you know about when starting a business?

3:05 What does an S-corp entail?

4:04 Where all do you need to register your new business?

5:10 What is an EIN?

5:41 What are some of the sales tax requirements?

9:34 Sales tax and location, location, location

12:45 What all do businesses pay sales tax on?

14:07 Payroll tax requirements

16:25 R&D tax credits

18:34 What’s your top tip for anyone starting a business?

21:53 What’s your favorite thing about organized clients?

23:08 Software and starting a business

008 - Your Business & Inflation

Fri, 05 Aug 2022 10:20:20 -0600

We sit down with CPA and managing shareholder Mark Lyons to discuss tips and techniques to help your business fight inflation. Stick around to learn more about profit margins, raising prices, employee productivity, expenses, automation and more!

https://caseypeterson.com/podcast

007 - Actively Managed Portfolios

Thu, 12 May 2022 17:16:29 -0600

Our Avantax friend, Kevin Dement, is back and we're talking about portfolios. Specifically, what makes an actively managed or asset allocation portfolio different from other portfolio types. What are the benefits, risks, and how do you find a partner that you can trust? Listen in to learn more!

0:00 Introduction

2:00 Types of Portfolios

4:48 Portfolio Fees

6:50 Actively Managed Portfolio Features

8:22 How Portfolio Changes are Made

11:57 Trust & Transparency

13:32 Investment Risks & Tolerances

Relevant terms:

Large-Cap - Greater than ten billion dollars in market cap

Mid-Cap - Between two billion and ten billion dollars in market cap

Small-Cap - Less than two billion dollars in market cap

To learn more about Avantax and the services they offer, please visit https://www.avantax.com/

006 - What Exactly is a Fiduciary?

Thu, 12 May 2022 16:50:55 -0600

You've heard the term before, and know it's vaguely financial in nature, but... what exactly is a fiduciary? This week, we talk with Kevin Dement from our wealth management partner, Avantax. We'll discuss fiduciary responsibilities, what it means to be a fiduciary, and how you should select a fiduciary. Listen to learn more!

0:00 Introduction

1:50 What is a Fiduciary?

3:58 Fiduciary Disclosures

5:17 How do Fiduciaries get Paid?

7:48 How to Choose a Fiduciary

10:24 Fiduciary Credentials

13:00 Why Choose a Fiduciary?

To learn more about Avantax and the services they offer, visit https://www.avantax.com/

005 - Audits for Schools and Governments

Mon, 14 Mar 2022 18:36:43 -0600

GAAP Episode 5 - Audits for Schools and Governments

We sit down with Casey Peterson income partner Devin Pfaff to discuss what's different for audits with government entities (such as schools and municipalities). Stick around to learn more about all audits, all the time!

Show Notes

1:50 Differences between nonprofit and government audits

2:17 Different types of funds

5:03 What is a modified accrual basis?

5:55 Federal funding for schools and municipalities

6:29 Audit requirements for schools and municipalities

7:45 The actual audit

11:00 The audit submission and reporting process

13:54 Where to find audit resources

15:58 If you could change ONE thing about single audits...

20:50 How do you deal with a fear of speed bumps?

Casey Peterson audit tools

South Dakota Department of Education resources

South Dakota Department of Legislative Audit

004 - Audit Tips for Nonprofits

Fri, 11 Mar 2022 14:00:18 -0700

GAAP Ep 004 – Audit Tips for Nonprofits – Show Notes

We sit down with Casey Peterson CPA and income partner Devin Pfaff to discuss audits for nonprofits and attempt to make sense of attestation, internal controls, compliance, cash vs accrual, and all kinds of other jargon! Plus we'll learn about preparing for audits, what to expect from the process, and what happens when audits are all done. Stick around to learn more!

2:24 Defining different service options

4:00 What is independence?

4:48 Do you really need an audit?

7:55 Cash vs. accrual

9:00 Internal controls

10:35 Compliance

11:35 Revenue recognition

14:58 Single audits

20:17 Regular audits

22:20 Preparing your nonprofit for an audit

27:33 Deliverables

30:13 What happens post-audit?

32:24 Why Devin loves audits

Which service is right for you? https://www.caseypeterson.com/blog/financial-statement-prep-compilation-review-or-audit-which-r

Casey Peterson audit tools: https://www.caseypeterson.com/resource-center/audit-tools

Why audits rarely find fraud: https://www.isaca.org/resources/news-and-trends/newsletters/atisaca/2019/volume-24/why-auditors-rarely-find-fraud

003 - Where to Start With End-of-Life Planning

Mon, 07 Feb 2022 16:13:48 -0700

Prepare to die! No, really. In this episode, we sit down with Casey Peterson income partner Lori Larson to talk about death, taxes, wills, and more! Why does it matter, what can you do, and where do you even begin on something of such monumental importance? Stick around to find out!
View show notes and other episode details at https://www.caseypeterson.com/podcast

002 - Data Analytics and Process Automation

Wed, 02 Feb 2022 15:32:46 -0700

In this episode, we sit down with Mark Erickson (data analytics client manager at Casey Peterson) to discuss recent developments in data analytics. We've all heard the buzzword before, but how are Amazon and Starbucks using data analytics, and what are the potential business implications? Stick around to learn more!

1:15 Amazon Store Concepts

4:11 Implications of “Pay With Your Hand” Technology

7:57 The Future of Transactions

10:30 Will This Tech Reach the Black Hills?

15:25 Other Process Automation in Business

17:43 What is Data Analytics?

23:18 What can Casey Peterson do?

24:26 Can the Ravens win the Super Bowl?

View full show notes and other episode details at https://www.caseypeterson.com/podcast

001 - Cost Segregation and the R&D Tax Credit

Tue, 01 Feb 2022 10:58:40 -0700

In this episode, we sit down with Steve Ruda from ICS Tax, LLC and Casey Peterson income partner Tom Jasiak to talk about cost segregation and the Research and Development Tax Credit. What is it, how does it work, and how can depreciation benefit a business? Stick around to learn more!
View show notes and other episode details at https://www.caseypeterson.com/podcast