Month: February 2015
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Audio Post on full time employee testing under ACA
This user question was about inconsistencies in payroll reports that make ACA compliance testing difficult for employees who work somewhere near 130 hours per month. I referred to it as the “grey zone”. Excerpt from my written response: “It is an interesting question and it seems that you have a good handle on the…
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Audio Post on expired COBRA for Medicare eligible person
This attorney’s post seems to fully address the issue: http://www.fordharrison.com/shownewsletter.aspx?Show=6426 “delaying Medicare Part B enrollment until COBRA coverage expires disqualifies the employee from the eight-month SEP that he or she would have had at termination of employment.”
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Tax consequences of non-group insurance employer health plans
This is an excerpt from a client memo today on the ongoing conversation about the use of a strategy other than group health insurance: You asked about whether it is possible way to combine the use of individual health insurance and employer payments for employee health costs in any manner whatsoever even if the employees…
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CPA communication with a prior tax preparer
Is it ever appropriate for a CPA tax preparer to communicate with the prior CPA tax preparer in order to gain an understanding of a proposed tax engagement? Consider this situation: Prospective tax client presents his prior tax returns with a request to prepare the current tax return and all appears to be in order except…
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The brave new world of personal income tax services
This message posted on an online tax forum this week just about says it all: “I normally prepare my own taxes through Turbo Tax; however this year it is telling me I owe an outrageous amount of money and I’ve never owed in previous years. I need someone else to take a look at it for…
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My most popular articles in January 2015
All five most of my most popular articles on LinkedIn Pulse for the month of January 2015 were actually published in December. That seems odd given the short-lived value of the type of news-related consumer finance topics and commentary that I typically cover. I notice that the top four are direct commentaries on current events reported…
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Even small nonprofits can benefit from online accounting
Since the early days of online accounting, I’ve preached that some of the obvious beneficiaries of this technology are nonprofit groups. One primary advantage is decentralization of information. In the past only the Treasurer might have had access. Board members might be updated at periodic meetings. Now all board members with access to the online books…