This is an annotated list of my recent articles and blog posts on the topic of small business health planning and related tax issues. I expect that these issues will be important in the upcoming tax filing season and apparently few other resources are available at this time. Some of the articles are meant for small business owners and others are meant for tax preparers. This listing does not include articles posted on LinkedIn and some professional blogs that have restricted access.
2017 Trends in health insurance enrollment, 3/8/2017, a look at consumer purchase decisions during the transition period.
Small business HRA setup and support services, 2/28/2017, The setup deadline is March 30.
Health care planning for small businesses: 2017, 2/25/2017, a bullet point summary of the Republican health plan issues of most concern to small business owners
Alternatives to Obamacare, 2/23/2017, coverage available now during the transition period
A holistic approach to small business benefit plans, republished 2/11/2017, An introduction to consumer-driven defined contribution health plans
Rethinking our 2017 health care strategy, 10/26/2016, discusses the possibility of combing insurance with HSA, HRA and supplemental insurance for maximum tax-efficient coverage.
A sneak preview of single payer health care, 10/23/2016, suggests that the responses that small businesses make now will direct the future of healthcare finance.
A simple individual health insurance alternative for small business contractors 2/15/2016 a limited time free service offer for members of the National Association of the Remodeling Industry (NARI) and select other small business employers to convert employer-sponsored health plans using individual insurance to the new type of permitted employer payment arrangement. (The same service is available to other small businesses but not with the fee waiver).
What to do if your W-2 includes taxable health benefits, 2/11/2016, covers a topic likely to be asked by many small business employees this year with a “how to” to redirect the preliminary correction work away from tax preparers.
Quick Summary of Small Business Health Plan Informational Tax Filing Requirements for 2015, 1/14/2016 this is an emerging hot topic for small business tax preparers.
Changing opinions on small business health plan penalty taxes, 1/8/2016, why the discussion of tax penalties now might not be the same as in 2015
4980D Small Business Excise Tax Liability, from the January 2016 New Jersey CPA magazine, an article intended for tax professional that includes a discussion of tax penalties and abatement.
News: 2015 small business health plan tax filing extension 12/29/2015 announces an extension to the filing deadlines that affect self-insured non-integrated health plans like HRAs and MERPs.
Common adviser errors with small business health plans, 12/23/2015, focusing on tax treatment of IRC 105 employer-paid health benefits. The core message is “two wrongs don’t male a right” when dealing with the tax treatment of employer-provided health benefits in the post-ACA world.
Watchlist for tax preparers: 2015 small business health plans, 12/21/2015 , includes highlighted buzzwords and a discussion of accuracy-related penalties for tax preparers working on 2015 small business tax returns. This was updated 12/27/2015 to address vague wording on the distinction of what is and what is not an employer health plan. The update is described here.
Small business tax changes for 2015 (for tax preparers). 12/17/2015, the five biggest changes from a tax preparer’s perspective beginning with the preparation of W2 forms and ending with penalty calculation and abatement procedures.
Small business tax changes for 2015 (for owners). 12/16/2015, the four biggest new federal tax issues this year for small business owners.
Plan ahead to avoid tax penalties on W2 health benefits, 12/16/2015, emphasizes that businesses of all types and sizes could be affected and includes a link to irs.gov resources.
Surprising lawmaker response to small business tax relief effort, 12/15/2015, a summary of NFIB’s last-ditch unsuccessful effort to gain relief from the 2015 tax penalties.
Avoidable small business taxes in 2015, 11/5/2015, a longer article with background on this developing issue and reference links to underlying legal authority.
11 tax traps for small business health plans, 10/22/2015, a big picture view of issues sometimes overlooked by employers and advisers. Some of these indirect consequences tend to be overlooked by advisers.
Retroactive termination of employee benefit plans, 10/22/2015, an introduction of a topic that can not be fully addressed in an online post but should be considered in a one-on-one with your accountant.
What options are available to employers who wish to help employees afford the cost of health care?, 10/16/2015, emphasizes that there are only 5 distinct options available to employers that meet the requirements of current law.
Why employers should not ‘bonus up’ for individual health insurance, 11/10/2015, a common problem described from the employee’s perspective
2015 health plan information returns for small business employers, 12/10/2015, brief information on W2 and 1095B filings.
Health plan checklist for accountants preparing small business tax returns for 2015, 11/2/1015, a practical checklist for tax preparers to help avoid accuracy-related penalties.
Three solid financial planning strategies for dealing with the Unaffordable Care Act, 7/12/2015, ideas for small businesses dealing with the Unaffordable Care Act
Calculating small business health plan excise taxes, 11/3/2015, a discussion of the procedural aspects of calculating tax penalties on non-compliant small business health plans.