Category: Employee Benefits
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Health care planning for small businesses: 2017
This commentary is based on the February 10 draft outline of the Republican health plan that has not yet been presented to Congress. Of course we expect details to evolve. For fast immediate solutions during the transition period, see my post “Alternatives to Obamacare“. If you operate a small business then proposed changes to health care legislation…
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Save money on small business payroll processing by removing bundled fees
A no-load approach to small business payroll In the “old days”, small business payroll services were priced based on a formula that was a bit complex. Factors like frequency of payroll, number of employees, type of pay, benefits, and local taxes all factored into the cost. Year-end ad ancillary services were typically priced separately. To me,…
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Republican attacks against labor unions
Yesterday Pennsylvania labor unions became the latest to suffer a legislative setback Labor unions are under attack. Newly elected Republican governments around the country went to work this past month to weaken the unions exactly as they announced in the campaign season. While labor unions normally support Democratic pro-labor platforms, this year many unions and their…
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A holistic approach to small business benefit plans
Tony Novak, CPA financial planner
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Support for ADP clients
Many of us think of ADP as a payroll company, and for good reason. The company is the market share leader in payroll processing and handles 1 in 6 of all paychecks issued in the United States. But in reality, ADP has transformed into a Human Resources management platform with over 100 specialized applications running…
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Limitations on free tax preparation for 2016 returns
Each tax season I am pleased to prepare some individual tax preparation services for n fee except the filing fee. My online filing service provider’s fee is $20 per return so the tax filer must cover this cost. My offer is usually made to a small number of middle income neighbors as a way to promote my…
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Sad end to the ‘realness’
OnlineAdviser and OnlineNavigator services end public access for incoming call telephone support. Unscheduled telephone calls will no longer be accepted due to a share rise in scam attempts. Perhaps the most significant career contribution I’ve made to the business world is the establishment of OnlineAdviser and OnlineNavigator nonprofit services that have addressed tens of thousands of consumer…
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Taxation of S corporation shareholder health insurance
Taxation of health insurance for S corporation shareholders is one of the most discussed and convoluted topics in the accounting industry. This article by Shaw and Associates in Colorado presents the topic in a useful format for setting up a payroll system that I’ve not seen in other presentations: http://www.kevinshawcpa.com/s-corporation-shareholder-health-insurance-instructions/
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Target benefit annuity plans
how to use a 412(i) target benefit annuity pension plan for a self employed individual