- Have Fewer Than 50 Employees? Here is How the Health Care Act Affects You
- When Congress came up with the Affordable Care Act (ACA), they carved out two basic categories of businesses, those with 50 full-time employees and/or full-time equivalent employees (FTEEs) and those with fewer than 50 employees. Under the ACA, businesses in the first category have a requirement to offer affordable insurance to their full-time employees and their dependents. If you are an employer with fewer than 50 full-time employees or FTEEs, you are not subject to the insurance requirement, but there are still some ACA issues you need to be aware of.
- Delaying Mandatory Taxable IRA Distributions - Are Qualified Longevity Annuities the Answer?
- People are living longer these days, and they may be concerned about outliving their retirement income, especially since tax law requires them to begin taking mandatory distributions from their retirement plans (such as IRAs) once they reach age 70.5. These distributions, called required minimum distributions (RMD), are generally determined by dividing the retirement account balance at the end of the preceding year by the individual's life expectancy from an IRS annuity table.
- Are You a Non-Filer? Ready to Escalate Problems with the IRS?
- There are millions of individuals who do not file a tax return each year, many of them simply because their income is below the filing threshold levels for the year based upon their filing status.
- Where did your Federal income tax dollars go in 2015?
- The National Priorities Project recently broke down the United States $4.2 trillion dollar Federal budget detailing where your tax dollars were allocated. The majority of your Federal income tax dollars go to health programs, defense and interest on the national debt.
- Combining a Vacation with a Foreign Business Trip? Here Are Some Tax Pointers
- When an individual makes a business trip outside of the U.S. and the trip is 100% devoted to business, all of the ordinary and necessary business travel expenses are deductible, just as if the business trip were within the U.S.
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