Latest From the Blog
What you need to know for 2010 - Dissecting the Healthcare Bill - Part 1 of 4 | Tax Tip of the Week | No. 46
We are going to start a four-part series of Tax Tips to take a look at the Patient Protection and Affordable Care Act and the Health Care & Education Affordability Act. These acts represent over 2400 pages of new laws and are collectively called the Healthcare Bill.Despite widespread belief that health coverage is mandatory now, the mandate for health insurance coverage does not actually take effect until 2014. In fact, some provisions of the Healthcare Bill do not take effect until 2018.
Tax and Asset Protection Considerations in choosing a business entity | Tax Tip of the Week | No. 45
When your accountant or attorney wants to discuss entity choice, they are referring to the various types of business entities or structures available. When considering the pros and cons of each type of entity, the many multifaceted issues may be grouped in taxation and asset protection.
Energy Tax Credit Update | Tax Tip of the Week | No. 44
During the recent 2009 tax filing season, we saw many clients take advantage of the Residential Energy Tax Credit.As a reminder, this credit is available to homeowners who install energy-efficient components and appliances. See the full list.
Health Coverage Tax Credit for Small Employers | Tax Tip of the Week | No. 43
One of the provisions of the Patient Protection and Affordable Care Act is a credit designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. In general, the credit is available to small employers that pay at least half the cost of single coverage for their employees.
Young adult children get expanded coverage | Tax Tip of the Week | No. 42
Changes made by the recently enacted Patient Protection and Affordable Care Act, provide tax-free health coverage for an employee’s children who are under age 27. The change is effective March 30, 2010. These changes immediately allow employers with cafeteria plans to permit employees to begin making pre-tax contributions to pay for this expanded benefit.
COBRA Extension | Tax Tip of the Week | No. 41
Employees who involuntarily lost their jobs had been eligible to continue their employer sponsored health insurance coverage through a subsidized assistance program. This plan was set to expire on March 31, 2010. A new law was recently passed that extends this subsidy program to those eligible employees through May 31, 2010.