The 2015 tax year has come and gone, and now is the time to prepare for 2016 taxes. One area that every taxpayers needs to address is making sure they have health insurance. This year, the penalties are set to increase significantly if you do not have a qualifying health plan. Under the Affordable Care Act of 2010 (a.k.a. […]
Health Insurance Tax Penalties for 2016 Read More »
A provision of the Affordable Care Act of 2010 (A.K.A Obamacare) affecting employers with 50 or more full-time employees goes into effect in 2015 and must be reported during the 2016 tax filing season. The IRS is requiring “applicable large employers” to report information on the health coverage they offered (or failed to offer) to
ACA Reporting for Applicable Employers Begins This Year Read More »
The passage and implementation of the Affordable Care Act of 2010 (aka Obamacare) has been one of the most controversial pieces of legislation in modern history. To date, it has survived several lawsuits; including a challenge to the constitutionality of individual mandates and a claim that the law does not allow for tax subsidies in
Heavy Fines for Employee Healthcare Reimbursements Read More »
The case of King v. Burwell provided a scare for residences receiving tax subsidies to help pay for health insurance in 37 states (including Arizona). The case was a challenge to the wording of the Affordable Care Act (AKA Obamacare), which stated that subsidies would only be available in an “exchange established by the state.”
Supreme Court Upholds Tax Subsidies for Federally-Run Exchanges Read More »
2014 was the first year Americans were required to purchase a health insurance policy or pay a fine to the IRS. Many of those that purchased policies from the public exchange received tax subsidies to help pay for them. The challenge is that qualification for the subsidies is based on estimated income; and as it
Affordable Care Act Subsidies Cause Headache for Many Taxpayers Read More »
On Wednesday March 4th, 2015, the U.S. Supreme Court heard oral arguments in King vs. Burwell, a case challenging the validity of the tax subsidies in the Affordable Care Act in the 37 states that did not set up their own health care exchanges. Because the subsidies affect an estimated 8 million taxpayers in these
Supreme Court Hears Oral Arguments in Challenge to Affordable Care Act Read More »
Taxpayers who missed the February 15, 2015 deadline to enroll in a healthcare plan through the public exchange or face a penalty received some good news; a special enrollment period will be added, extending the deadline to April 30, 2015 in 37 states. The government also announced that some 800,000 taxpayers received incorrect forms from
ACA Filing Deadline Extended through 2015 Tax Filing Season Read More »
On Friday November 7, 2014, the U.S. Supreme Court agreed to hear an appeal in a challenge to a portion of the Affordable Care Act of 2010. The challenge has to do with the tax subsidies received by residents in the 34 U.S. states which did not set up their own health care exchanges, opting
Supreme Court Taking Obamacare Subsidy Case Read More »
Under the Affordable Care Act of 2010, employers with 50 or more employees were required to provide health insurance to their workers or pay a penalty. This provision was set to kick in on January 1, 2014. However, earlier this month, the Obama Administration announced that this mandate would be delayed for one year. The
What are the Implications of the ACA Employer Mandate Delay? Read More »
In honor of Professional Wellness Month we wanted to pass along some tips that entrepreneurs need to keep in mind when it comes to taking care of their health. It’s so easy to become bogged down in the day to day operation of your business that you forget you need to take care of yourself. Burnout is a fact of life for entrepreneurs.
5 Stress Relieving Tips For Small Business Owners Read More »
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