Insights

Insights

The latest insights on topics that matter to you.

Wipfli is dedicated to business leaders and their organizations. Each month, we bring you thought-provoking articles on long-range organizational issues related to people, processes, technology, customers, and financial management.

You'll also find whitepapers, blogs, webinars, and eBooks. You can sort via your industry or the topic

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Articles

Economic Nexus Reporting Requirements Reference Table

The states listed in the table below have either enacted sales tax economic nexus filing requirements or are in the process of adopting reporting requirements either legislatively or through administrative rule as of August 17, 2018. Keep in mind that the sales threshold may be defined differently from state to state. The sales threshold may be a combination of both taxable and exempt sales or taxable sales only.

8/21/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, FinTech, Financial Institutions, Financial Services, Freshwater, Insurance, Manufacturing and Distribution, Private Equity
Services: Tax
By: Craig Cookle

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Sales and Use Tax Automation: Crucial Tools for Accurate Reporting

With sales and use tax being a complex and ever-changing area, it’s crucial to have an effective and up-to-date record of your sales and use tax activity. Accounting software is widely used by small to medium-sized companies to track financial transactions, as well as additional data surrounding business operations.

8/17/2018
Industries: Manufacturing and Distribution
Services: Tax
By: Craig Cookle, Daryl L. Ohland

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Addressing Prior-Year Tax Exposure Issues: Nexus Studies

In light of the June 21 U.S. Supreme Court decision involving South Dakota v. Wayfair, Inc., it is extremely important for a business to understand any prior tax risk in a state before it registers to collect sales tax, based on the state’s economic nexus rules. Prospectively registering to collect and remit sales tax in a state, without reviewing prior periods, could prompt a state-initiated review of prior periods and potentially expose your business to filing prior returns (8 to 10 years in certain states) while disqualifying your business from participating in any voluntary disclosure programs to mitigate your risk for prior periods. That is why it is extremely important to understand the concept of nexus prior to the Wayfair decision.

8/17/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, FinTech, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Tax
By: Craig Cookle

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The Latest Impacts of United States Supreme Court Overturning Quill

The Wayfair decision makes it critical that taxpayers understand both their prior and future sales tax filing obligations so they are not jumping into registering and filing prospectively without fully understanding their sales tax exposure for prior years.

8/17/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, FinTech, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Tax
By: Craig Cookle, Jessica L. Macklin

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Prepayment of 2018 State Property Taxes in 2017

Under the TCJA, taxpayers’ itemized deduction for state and local taxes for tax years 2018 through 2025 is limited to $10,000 ($5,000 for married filing separately) per year. Anticipating some clever tax planning by taxpayers and their advisors, the new law specifically indicated that taxpayers could not deduct prepaid 2018 state income taxes on their 2017 federal income tax return.

8/15/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, FinTech, Financial Institutions, Financial Services, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Tax
By: Crystal Christenson

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IRS Issues Guidance on 100% Bonus Depreciation

The expansion of the bonus depreciation rules was one of the most significant taxpayer-friendly surprises in the Tax Cuts and Jobs Act (TCJA). The bonus depreciation provision allows a taxpayer to immediately deduct a certain percentage of the cost of qualifying property in the year the property is acquired rather than capitalizing that cost and depreciating it over a period of years.  

8/14/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity, FinTech
Services: Tax

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New Automatic Method Change for Citrus Replanting Costs

Under old law, owners of a citrus grove could write off the cost of replanting citrus plants in case of blight or other kinds of damage, as opposed to being required to capitalize such costs under the Sec. 263A Uniform Capitalization rules (UNICAP). The TCJA maintains that law but expands the list of eligible taxpayers. 

8/14/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, FinTech, Financial Institutions, Financial Services, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Tax
By: Crystal Christenson

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Like-Kind Exchanges

The TCJA modified Sec. 1031 like-kind exchanges to limit application only to real property. Thus, personal property and other intangibles are no longer eligible for tax-free exchange.

8/13/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, FinTech, Financial Institutions, Financial Services, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Tax
By: Crystal Christenson

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Blogs

Bank On Wipfli

Bank on Wipfli

Count on Bank on Wipfli to be your go-to source for need-to-know-now information that affects the financial institution industry.

Industries: Financial Institutions
Services: Audit and Accounting, Consulting, Tax

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Dynamics CRM Blog

Connect – Microsoft Dynamics 365

Stay connected with product news, best practices, ideas, and tips to explore alignment with strategic business objectives, meet a short term tactical need, or just get thinking.

Services: Consulting, Technology

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Get Dynamic Blog

Get Dynamic - Microsoft Dynamics GP

Get the most out of Microsoft Dynamics GP with the latest tips, tricks, and announcements that help keep it simple.

Industries: Manufacturing and Distribution
Services: Consulting, Technology

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Health Care Perspective Blog

Health Care Perspectives

This blog covers a variety of current topics in the health care industry.

Industries: Health Care
Services: Audit and Accounting, Consulting, Tax

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Webinars

Webinar: Reporting Tools in Dynamics GP

When fully utilized, reporting tools provide the power and flexibility to turn data into meaningful information that can help make strategic business decisions. This webinar describes some of the reporting options available for Microsoft Dynamics GP along with a process strategy to create or modify existing reports to make them impactful for your business.

8/16/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, FinTech, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Consulting, Technology
By: Barbara Bell, John Kirsch

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TRID Clarifications, Corrections, and Technical Amendments Webinar

Listen to this recorded webinar to review the TRID Clarifications, Corrections, and Technical Amendments that were published in 2017 with a mandatory compliance date of October 1, 2018. We’ll summarize the information and help you break down what actions you should take to ensure you are in compliance by October 1. 

7/27/2018
Industries: Financial Institutions
By: Melissa D. Blaser, Tim Tedrick

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Webinar: Get to Know Dynamics 365 Business Central

Like a supply chain, when all the pieces of a business fit and work together, it leads to efficient processes, maximized profitability and happy customers. But keeping all facets of your business in sync is about as easy as ensuring no piece of a supply chain ever goes wrong. That’s why Microsoft Dynamics 365’s newest application, Business Central, is so crucial to organizations that want to make smarter decisions. Watch our webinar where we demo Business Central and answer your questions.

7/18/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, FinTech, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Consulting, Technology
By: Barbara Bell, Mark Christie

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What's New in Dynamics GP 2018

Being a regular user of Microsoft Dynamics GP, you’ve probably thought of some features that could be easier, faster and more convenient for you — and you’re not alone. In GP’s 2018 release, Microsoft has listened to its customers and used their feedback to make a wide range of enhancements. Find out what’s new and how it benefits your business in Wipfli’s complimentary webinar, “What’s New in Dynamics GP 2018.”

7/13/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, FinTech, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Consulting
By: Barbara Bell

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What Health Care Entities Should Be Doing to Prepare for Revenue Recognition and Lease Standard

ASU 2014-09: Revenue Recognition (“ASC 606”) and ASU 2016-02: Leases are two of the most significant standards that have been issued in the last 10 years. Getting ready for and implementing these standards will require much time and energy.

6/29/2018
Industries: Health Care
Services: Audit and Accounting
By: Corina R. Schoenke, Joshua J. Boyle

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What Is the Value of My Company, and Why Do I Need to Know?

“I’m not planning on selling my business anytime soon, so I don’t need to know what it’s worth, right?”

Wrong.

This webinar will provide insight into the importance of knowing what your business is worth, reasons why a business valuation is needed, and information on why using a qualified individual to arrive at that value is essential.

6/15/2018
Industries: Manufacturing and Distribution
Services: Business Advisory
By: Lisa M. Cribben

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Managing Cybersecurity Risk for Dealerships

Cyber attacks are on the rise and occur with alarming frequency. The financial and reputational consequences from an attack or breach could be devastating to your dealership. 

Your dealership collects and maintains a wealth of personal information from your customers. Maintaining a strong and agile cybersecurity program is imperative. This on-demand webinar was designed to help you determine whether your cybersecurity program is as strong as it should be. 

6/13/2018
Industries: Dealerships
By: Steve Hewitt, Jeff Olejnik

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Increase Customer Trust and Loyalty With Dynamics 365 for Field Service

All organizations strive to provide exceptional, consistent customer service, but how do you make that a reality when your business is out in the field? How do you keep field service agents connected and equipped to be productive?

Field Service Automation in Dynamics 365 provides your field service agents with the connectivity they need to create the customer service you expect. See how Dynamics 365 increases efficiency of scheduling field service agents, equipment and other resources and enables field service agents to be more productive on site with mobile capabilities. Increase customer trust and transparency by enabling self-scheduling and issue reporting.

5/16/2018
Industries: Agribusiness, Construction and Real Estate, Dealerships, FinTech, Financial Institutions, Financial Services, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity
Services: Consulting, Technology
By: Ryan Swiderski

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