Year-End Tax Bill Being Done, Without QIP Fix

While passing the $1.4 trillion spending package this week to keep the government funded and avoid a federal shutdown, Congress also corrected some provisions and oversights from the 2017 Tax Cuts and Jobs Act. Unfortunately however, the fix for the Qualified Improvement Property (QIP) depreciation schedule was not included, nor were most other tax extenders…

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House Votes to Repeal “Cadillac Tax”

As the old baseball saying goes, it’s hard to tell the players without a scorecard, but it seems equally challenging to tell whether or not the US House wants to keep any aspects of ObamaCare. On Wednesday of this week, the democratically-controlled U.S. House voted by an overwhelming bi-partisan tally of 419 – 6 to…

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Employer Health Care Premiums Rising

There hasn’t been much to comment lately on the Affordable Care Act and its ongoing implementation until last week when the Congressional Budget Office reported on projected costs for the government mandated coverage going forward.  The CBO projected that employer paid health care premiums will rise steadily by 5% per year for the next decade. …

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Eliminating the Cadillac Tax

Congressional appetite to repeal the so-called Cadillac Tax provisions of Obama Care appears to be growing as we get closer to the 2018 effective date for that tax provision.   The “Cadillac Tax” is a non-refundable 40% excise tax on employee premiums that exceed $10,200 and $27,500 for individual and family coverage respectively.  In a letter…

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