Under 27 and need health insurance?
As part of the 2010 health care reform law, people up to age 26 can now get covered by their parents’ health insurance policies.
Treasury Goes Green
The U.S. Treasury has adopted a new initiative to dramatically increase the number of electronic transactions for millions of citizens and businesses. It is expected to save more than $400 million and 12 million pounds of paper in the first five years alone.
Foreign Compliance Provisions
The HIRE Act (Hiring Incentives to Restore Employment Act) has included several provisions to increase foreign compliance.
1099-MISC – Are you ready for year-end reporting?
A 1099-MISC is an information return that is used to report miscellaneous income.
Administration Outlines Fiscal 2011 Tax Proposals
On February 1, 2010, the Treasury Department released General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals (“Green Book”), which provides a description of the Obama Administration’s budget proposals affecting revenues.
Will Your Health Care Be Taxed?
No, you won’t have to pay taxes on health insurance paid by your employer!
But there is a new reporting requirement included in the new health care law that requires health insurance premiums to be reported on an employee’s W-2. Current law excludes health insurance from taxable income, and nothing has changed this tax-free employee benefit.
Governance – Still High on the IRS Radar Screen
By now, it should come as no surprise that nonprofit governance is high on the list of IRS interest areas. This interest has, of course, been spurred on by Senate Finance Committee hearings and some highly publicized exempt organization governance failures which helped to put a black mark on the entire nonprofit sector.
Do You Have A Household Employee?
If you employ someone to work in or around your home, age 18 or older, and pay them wages of $1,700 or more in 2010, you may be a household employer.
Will Your Small Business Get A Health Care Credit?
The new small business health care tax credit is designed to encourage small employers to offer and pay for health insurance for the first time, or maintain coverage they already have.
Blackman & Sloop Joins BDO Alliance USA
Blackman & Sloop, CPAs, P.A. has joined the BDO Seidman Alliance, a nationwide association of independently owned local and regional CPA firms and businesses.