Affordable Care Act
The Patient Protection and Affordable Care Act, also known as the Affordable Care Act (ACA), or colloquially as “Obamacare,” was signed into law in March of 2010 with the goal of increasing the quality and affordability of health insurance for millions of Americans.
While the Act’s employer shared responsibility payments will not apply until 2015, and in some cases, not until 2016, there are provisions and safe harbors to consider and decisions that can be made now that may help businesses, employees and a business’s bottom line. Further, there are many unintended consequences arising out of the ACA that business owners, both large and small, need to consider when administering health care arrangements.
We are carefully following the developments associated with the roll-out of ACA and are providing counsel to business owners and other professionals, helping them to address compliance issues, evaluate exposure to penalties and other tax issues as well as planning strategically for the future.
Affordable Care Act Articles
Wayfair Tax Supports Tax Fairness
The Chesterfield Regional Chamber of Commerce (Chesterfield, Missouri) was asked to weigh in on the issue of the City of Chesterfield applying sales taxes to online purchases from out-of-state vendors. First, a little history. For decades, the United States Supreme...
Corporation vs. LLC – Is the Decision Any Clearer?
For years, it seems that choice of entity has been given, at best, only passing attention. While everyone contemplating starting a business has heard of corporations, that entity is viewed as their father’s entity, not the newer, hipper limited liability company...
The Devil’s (Still) in the Details: Deadlines and Liquidated Damages Clauses
A recent case out of Illinois illustrates the danger of failing to keep track of deadlines, and expounds on the purpose of liquidated damages. The facts of the case are rather straightforward, but the results surely must have stung for one of the parties. A contract...
The Presidential Directive Regarding Payroll Tax Deferral: Who’s Left Holding the Bag in 2021?
On Saturday, Aug. 8, 2020, President Donald Trump issued a presidential memorandum (not an executive order, as reported in the popular press) suggesting deferral of the employee portion of FICA taxes from Sept. 1, 2020, through the end of 2020. The full text of...
