Posts Tagged ‘obamacare’
Are you exempt from ACA coverage?
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate.com Millions of taxpayers have yet to file their 2014 federal tax returns. For a lot of folks, the issue is simple procrastination (guilty!). Others, however, have put off filing because of…
Read MoreIRS Offers Obamacare Penalty Relief
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate Tax season is always a challenge. This year, things are ramped up a bit, thanks to 2015 being the first tax-filing season where we have to deal with Obamacare on…
Read MoreSmall Business Affordable Care Act Reporting Responsibilities
Extended deadlines, confusing terms for business sizes and hiccups in the Small Business Health Options Program (SHOP) Marketplace may have small business owners dreading the next steps for IRS forms and coverage reporting. Fortunately, only 4% of small businesses are subject to the Affordable Care Act (ACA) reporting requirements or the employer responsibility provision. The…
Read MoreOur 2013 Annual Year-End Tax Planning Letter
One of the biggest deductions available to all businesses, and one that will be dramatically reduced in 2014, is the Section 179 expensing election. This is the last year for expensing up to $500,000 of Section 179 property. The maximum amounts drops to $25,000 next year!
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