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Tax Alerts

  • 8/20/2015

    Charitable Contribution Deductions

    Donations to charity often result in tax benefits for the donor; however there are specific recordkeeping rules that need to be followed to claim the deductions on your tax return. While making donations throughout the year, please consider the following requirements....

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  • 8/11/2015

    Vacation Home Rental Rules to Maximize Tax Benefits

    If you own a vacation home and rent it out, you need to pay close attention to the vacation home rental rules to maximize your tax benefits and avoid loss of important tax deductions. The tax rules related to rental of a vacation home depend on how it is classified. Vacation homes fall into one of three categories...

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  • 7/9/2015

    Supreme Court Update on Fiduciary Responsibility of 401K Plan Sponsers

    On May 19th the Supreme Court issued a ruling in Tibble vs. Edison International in favor of employees in a lawsuit against the plan sponsor over fees charged to their 401K plan. If you are the owner of a company which sponsors a 401K plan or a member of management or a human resources department who is a plan trustee, or responsible for administration of your company’s 401K plan, there are several things you should be doing on an ongoing basis to make sure you are fulfilling your fiduciary responsibilities.

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  • 6/26/2015

    ACA Health Insurance Mandate is Here! How does it affect your business?

    The Affordable Care Act Health Insurance Mandate is finally here. Many businesses are still trying to determine if it applies to them, when it applies to them and how to deal with it. There are also concerns about the reporting and tracking of information for Forms 1094C (for the Company) and 1095C (for each employee). The final rules are summarized here...

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  • 6/17/2015

    PCORI Fee for Self-Insured Health Plans Due 7/31/2015

    The Affordable Care Act (ACA) imposes a fee on self-insured health plans to fund the Patient Centered Outcomes Research Institute (PCORI). For self-insured plans ending in January 2014 through September 2014, the fee is $2 per covered life based on the average number of lives covered under the policy or plan. For self-insured plans ending in October 2014 through December 2014, the fee is $2.08 per covered life.

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