January Newsletter

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Bimonthly Newsletter

Volume 3, Issue 1 | January 2023

We hope everyone had a wonderful holiday season and wish you all the best in 2023!

Changes to Meal & Entertainment Deductions

Beginning January 1, 2023, meal and entertainment deductions will revert to tax rules under Tax Cuts and Jobs Act (TCJA). For tax year 2023, many of the meal and entertainment deductions reduce from 100% deductibility to 50% deductibility.

Client Business Meals: 50% deductible if ordinary and necessary in carrying on business, taxpayer is present, provided to current or potential client or consultant and not lavish or extravagant

Entertainment Related Meals: 50% deductible if charges are stated separately from the cost of entertainment, no deduction otherwise

Meals Provided for the Convenience of Employer: 50% deductible

Meals Provided to Employees Occasionally and Overtime Employee meals: 50% deductible

Meals in Office during meetings of employees, stockholders, agents or directors: 50% deductible

Meals During Business Travel: 50% deductible

🌟Be on the lookout for the 2023 Accounting Procedures and Information Guide in your portals mid January!

🌟Check out our Helpful Resources section for updated 2023 tax due dates, quick facts, retirement limits and more!

PMHCC Gives Back

Marine Corps Toys for Tots Program

THANK YOU!

Thank you so very much to our wonderful clients, staff and neighbors for generously donating to this year's Toys for Tots campaign. We received more toys than ever before and could not be more grateful for your support!

Girl Scout Troop #4493 used some of the money from their cookie sales to create and donate 7 Build-a-Bears to Toys for Tots! They customized each one to have special hearts, scents and fun clothing. We are grateful to these young ladies for their efforts to make a difference in their community and know that these Build-a-Bears will make kids very happy this Christmas!

⭐Staff Spotlight⭐

Milla Albers

Account Analyst

"I am devoted to my clients. Always working hard to ensure the highest quality, accuracy and transparency. I have the best co-workers and management I could dream of."

Milla has been with PMHCC as an account analyst for over 12 years. She received her Master’s of Science degree in Finance at the Odessa National Marine University in Ukraine. After moving to the US, she attended Vance-Granville Community College, receiving her Associate Degree in Accounting. She worked in governmental and public accounting before joining PMHCC as an account analyst in September 2010. Milla has over 25 years of experience in the Accounting and Finance field.

Milla enjoys spending time with her big family. She is very close with her granddaughter and enjoys her ballet performances especially the Nutcracker during Christmas time. She loves to garden in her yard and enjoys baking for her family and friends. Milla is active with her church and has ten Godchildren, who keep her busy. She lives in Cary and loves it!

Helpful Resources

2023 Tax Due Dates Guide

Record Retention Guide

2023 Quick Facts Data Sheet

Tax Withholding Estimator

2023 Retirement Plan Limits

IRS: Where's My Refund?

Client Referral Program

Contact your consultant today to learn how you can earn $500 cash for referring a friend or colleague to us! *Reward contingent upon referee maintaining PMHCC services for 3 months minimum.

Leave us a review!

Professional Management Healthcare Consultants, Inc

Raleigh Office

9207 Baileywick Road

Raleigh, NC 27615

Phone (919) 876-9711

Wilmington Office

(By Appointment Only)

1213 Culbreth Drive

Wilmington, NC 28405

Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisors. Before making any decision or taking any action, you should consult a professional advisor who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

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