February 19, 2014
Think Twice About Once-a-Year IRA Rollover Rule
Under the federal income tax law – specifically, Section 408(d)(3)(B) of the Internal Revenue Code – a taxpayer can roll over funds from one IRA to another only once a year.
February 13, 2014
Obama Administration Postpones IRS Insurance Mandate Again
New final regulations issued on February 10, 2014 by the Treasury Department have postponed the employer mandate another year – until January 1, 2016 – for certain mid-sized employers.
February 13, 2014
New CBO Report Links Obamacare to Job Losses
In the wake of a new report from the Congressional Budget Office (CBO) assessing the impact of Obamacare on employment, Republicans in Congress are renewing some objections to the controversial legislation and modifying others.
February 12, 2014
Are Your Clients Overlooking Tax-Free Fringe Benefits?
We get so busy during tax season that we often barely have time to breathe. Even so, I want you to do some reading. Call the IRS at 800-TAX FORM (800-829-3676) to get a printed copy of IRS Publication 15-B. Have you ever read it? It’s all about fringe benefits.
February 11, 2014
Introducing the MyRA: Boom or Bust?
President Obama didn’t drop any bombshells in his State of the Union address delivered on January 28. But he did unveil a new retirement-saving concept called the “MyRA” (a wordplay on IRA). As the president explained, this account will be designed to encourage retirement savings by workers who don’t have access to employer plans like…
February 10, 2014
What the Affordable Care Act Means to Small Businesses
The Treasury Inspector General has called the Affordable Care Act the biggest tax act in 20 years. What does the ACA mean to you and your clients?
February 10, 2014
Healthcare Costs Top List of Small Business Concerns
How concerned are small businesses about the costs of implementing the new health care insurance laws? A new survey shows it's their top worry.
February 9, 2014
New Bill Ups the Stakes in Obamacare Showdown
It’s going to take time – perhaps more than initially anticipated – for the government to work through all the twists and turns in the Patient Protection and Affordable Care Act (the PPACA), the massive health care law known as “Obamacare.” Along the way, certain tweaks and modifications are likely to be required.
February 9, 2014
IRS Faces Customer Service Challenges Under Obamacare
A new report by the Treasury Inspector General (TIGTA) on the Patient Protection and Affordable Care Act (the PPACA) – the 2010 federal legislation also known as “Obamacare” – focuses on the “customer service” strategy promised by the IRS.
February 5, 2014
More Employers Focusing on Workers’ Financial Well-Being in 2014
As U.S. companies grow increasingly concerned about the financial well-being of their workforce, a new survey by Aon Hewitt, the global talent, retirement and health solutions business of Aon plc, finds that employers are looking for new ways to improve the long-term financial health of their employees in 2014.
February 3, 2014
How President’s Policy Initiatives Could Affect Small Business
In his annual State of the Union Address last week, President Obama mentioned several policy initiatives he plans on advancing that could have an impact on the small businesses across the country.
February 3, 2014
Ohio Ranks Among Worst for Personal Finances
Financial security remains elusive for almost half of Ohio households, which often are one medical issue, pink slip or other crisis away from plunging into severe poverty, according to a new report from the Corporation for Enterprise Development.