The mandate for some employers to provide affordable health insurance coverage to workers will take effect in the near future. However, for some firms, it will be a case of later rather than sooner.
celliott
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Topics: Affordable Care Act, Health Care Mandate, Uncategorized
The federal government continues to tout the Roth 401(k) plan that combines some of the benefits of a traditional 401(k) plan with a Roth IRA. Typically, an employer will add this feature to an existing 401(k) plan. Now the IRS has issued a new notice governing in-house rollovers to a Roth 401(k).
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Topics: Roth 401k, Retirement, Uncategorized
Are you having trouble motivating the troops? Keeping the workplace energy level high—while continuing to churn out the merchandise or provide valuable services—remains a constant struggle for many employers.
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Topics: Productivity, Uncategorized
The answer to the question posed in the headline is an easy one: A buy–sell agreement can be immediately beneficial to a business owner contemplating a sale of the operation. What’s more, it can provide significant benefits even if you plan to keep a business interest and eventually pass it to the younger generation.
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Topics: Buy-Sell Agreement, Cross-Purchase Agreement, Entity-Purchase Agreement, Hybrid Agreement, Uncategorized
Use It or Lose It? Not So Fast - Flexible Spending Accounts
Posted by celliott on May 27, 2014 4:41:50 PM
Be aware of recent changes in the use-it-or-lose-it rule for flexible spending accounts (FSAs).
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Topics: Carryover, Flexible Spending Accounts, FSAs, Health Care, Tax, Uncategorized
*Practice Not Perfect—In a new case, a neurosurgeon had a dispute with a hospital for which she had a contract. She deducted practice-related expenses as a self-employed taxpayer on Schedule C, but the Tax Court determined that the neurosurgeon was never self-employed. Instead, she was functioning as an employee. Thus, the expenses could be written off only on Schedule A, subject to the limit for miscellaneous expenses.
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Topics: Facts and Figures, Tax, Uncategorized, Volunteer
It’s hard to believe we are beginning our fourth year dealing with the Healthcare Reform Law. With a countless number of changes and delays, many are asking what is next and what do I need to do. Nonprofits are not exempt from complying with the new legislation, and many board members and executive directors are looking for guidance.
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Topics: SHOP, ACA, Affordable Care Act, Healthcare, Nonprofit, Tax, Uncategorized
If your nonprofit became a victim of fraud, it wouldn’t just hurt your organization’s bottom line — the infraction also could do devastating damage to your reputation. By implementing some simple controls, though, your organization can help protect itself from these risks.
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Topics: Red Flag Reporting, Fraud, Fraud Hotline, Fraud Prevention, Nonprofit, Risk Assessment, Segregation of Duties, Uncategorized
Nonprofit organizations typically depend on a variety of funding to keep them alive and well. They need funds to pay their bills, pay their staffs and pay for the costs of running their programs. But savvy nonprofits know that not all that’s green has equal value and flexibility. Types of funding vary greatly in how they can — or cannot — be used.
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Topics: Temporarily Restricted Funds, Unrestricted Funds, Funds, Nonprofit, Permanently Restricted Funds, Uncategorized
A-133 audit threshold raised for small nonprofits
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Topics: A-133, Fundraising, Nonprofit, threshold, Uncategorized