Challenge to Obama Care Tax Credits Heard by SCOTUS

The US Supreme Judicial Court heard arguments this week on the issue of tax credits being utilized in the Affordable Care Act.  The issue stems from language in the health care law (“We have to pass the health care bill so we can find out what’s in it.” – then-Speaker Nancy Pelosi) that authorizes a…

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IRS Delays Health Care Penalties

The ever moving target of understanding the implications (good or bad) of the Affordable Care Act mandates has apparently moved again, as the Internal Revenue Service (IRS) last week announced yet another delay in its implementation.  Under the regulations, employers that offered health reimbursement arrangements (HRAs) for employees buying individual health insurance policies could have…

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US House Passes Permanent Section 179 Expensing Bill

It was one of the so-called “tax extenders” that have been allowed to expire in each of the past two years, only to be retroactively reinstated.  At long last, the US House has moved the issue forward again and passed legislation that will make the accelerated and bonus depreciation deductions permanent.  The legislation, known as…

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Is Tax Cutting Getting Popular?

As state legislatures around the country begin their 2015 sessions in earnest, we couldn‘t help note that several are now looking at reducing tax burdens and making more of an effort to “live within their means”.  In his State of the State address, New York Governor Andrew Cuomo highlighted his “2015 Opportunity Agenda”, which calls…

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Affordable Care Act Takes Hold

Although small businesses that employ at least 50 and fewer than 100 workers are not required to offer health insurance to their employees until January, 2016, there are a host of reporting requirements that such businesses must meet this year to ensure they have the information necessary to comply with the mandate next year when…

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Employer Mandate Begins

It was passed into law some 5 years ago, but with the ball falling in Times Square this New Year’s Ever, the Obama Care employer mandate officially took effect. Beginning for 2015, all companies with 100 or more full-time employees must offer an affordable health plan to 70 percent or more of their employees or…

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Real Laws Are Changing Too

With the New Year arriving, so too are changes to laws in the states around the country, and these changes were actually passed by the states’ legislative bodies!  We reported to you last week that the minimum wage was increasing in some 21 states around the country as of January 1, 2015 and we think…

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And, Finally . . .

At long last, it appears that the so-called Tax Extender Bill has passed both branches of Congress and is awaiting the President’s approval!  Once the President signs the bill as expected, a host of tax credits will have been reinstated retroactively for 2014 – but believe it or not, they’ll expire again in another 12…

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President’s Veto Threat A Death Knell for Tax Extenders

In what surprised many observers, a bipartisan compromise bill to re-authorize a number of business-friendly tax credits that had been allowed to expire last year, was likely killed by the White House when the President threatened to veto the compromise legislation.  Most important to many in the QSR industry, the “Tax Increase Prevention Act of…

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Wait Til You See How Expensive It Is When It’s Free!

The state of Georgia not only believes that free has a value, it thinks free should be taxed as well.  Believe it or not, we’re advised by a number of franchise owners in Georgia that the Peach State is demanding tax payments on promotion items even when those items are given away at no charge! …

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