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
Restrictive Covenants in Employment Agreements
Employment agreements have become a popular tool in the business world, in both big and small business. Employment agreements establish vital terms and avoid misunderstandings such as “at-will” or other termination provisions. Most employment agreements will contain...
E-Verify: The Electronic Border Patrol for Employee Eligibility
E-Verify, the Internet-based system used to electronically verify the employment eligibility of newly hired and current employees, is now a mandatory requirement for companies to obtain contracts with the federal government and the State of Missouri. E-Verify is...
Gentlemen Farming and Other Side Businesses; Issues in Passive Activity and Self-Employment Taxation
Ted and John are friends from the same town. Each is successful in his professional career (Ted as a dentist, John as an insurance salesman). Ted decides to invest in and do some part-time work at a chicken farm in town, and John, thinking that that sounds like a good...
Options to Avoid Foreclosure: When a Strong Offense Makes a Good Defense
Most people understand the basic construction of a home loan: they receive a loan from a lender and sign a "promissory note," which is a promise to pay the lender for the principal of the loan along with interest. This promissory note is "secured" by a "deed of trust"...
