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
Rolling the Dice: Business Plans for Start-Ups or, To Be or Not To Be
As small business attorneys for almost 25 years, we have seen many trends, heard many business ideas and have been pitched countless "business opportunities." During the course of that time, we have consulted on literally thousands of new start-up companies, and we...
The Twenty Dollar Bill Quiz
Can you name the president pictured on a twenty dollar bill? If that same $20 is spent by a service company to pay an individual house cleaner, would it be considered wages? What if a paralegal works a night shift at home writing a marketing brochure? Can she bill her...
Congressional Magic or Mischievousness: Is the Federal Estate Tax Repealed, or Isn’t It?
In spite of what you may have heard about taxes in 2010, we believe Ben Franklin's sardonic proverb, with Will Rogers' prescient addition, still holds true - this year more than ever. Nothing is certain but death and taxes – the only difference between the two is that...
LLC or S-Corp? (Or, Why The Barber May Not Be Right)
Many individuals embarking on starting their own businesses have a preconceived idea that they want to form a limited liability company (LLC ) instead of an S-Corporation. Often, and I am not making this up, their opinions arise from conversations with barbers!...
