Category Archives: Raleigh CPA Firm

Obama Administration Delays Part of Health Law’s Employer Mandate

More Delays to Obama Care Personal MandateThe U.S. Government announced an additional delay of the employer mandate associated with the Affordable Care Act (“ACA”) for certain medium sized employers. ACA is intended to extend health coverage to uninsured Americans, partly by imposing penalties on individuals and businesses not seeking coverage. Most individuals face a tax penalty for not having healthcare coverage in 2014. Continue reading Obama Administration Delays Part of Health Law’s Employer Mandate

Common Considerations for IRA Rollover

Common Considerations for a IRAIf you’ve been thinking about rolling over your traditional IRA from one financial institution to another, there are a number of things you should think about when doing so. There are a number of mistakes that occur here, which can incur unnecessary taxes and penalties, that you will definitely want to avoid. Check out some of the most important things to know about IRA rollovers, below. Continue reading Common Considerations for IRA Rollover

Three Ways to Know the Difference Between an Employee and Contractor

Employee vs. ContractorIn order to tell the difference between a part or full time employee and independent contractor, it is important to consider the three main factors listed below. These factors will determine the responsibilities a business has towards a person who may be providing a service to the business, as well as the rights of both parties involved.

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Obama Administration Delays Implementation of Key Part of the Affordable Care Act

The Administration announced recently that it will provide an additional year before the ACA mandatory employer and insurer reporting requirements begin. Scheduled to become effective January 1, 2014, the new effective date is January 1, 2015.  Formal transition guidance will be published in the coming weeks.  The Administration intends to strongly encourage employers and insurers to voluntarily implement the information reporting in 2014.

Because of the delay in reporting requirements, the Administration has also delayed the “shared responsibility payments” until 2015.  Under ACA’s “Employer Mandate,” employers with more than 50 full time employees would have to begin to offer affordable health insurance as defined by the Act or face substantial penalties or “shared responsibility payments.”  The delay means these penalties will not apply to 2014.

For more information, read the complete article here. We offer tax service professionals available to help guide you and your business through the ACA..

Why a Non-Profit Should Hire a CPA Firm?

The provisions of the Internal Revenue Code are complex regarding the tax treatment of non-profit donations, transactions and other recognizable events. An experienced Certified Public Accountant (CPA) is trained in the nuances of non-profit accounting and tax returns, and is capable of assisting management with recordkeeping and tax return preparation.

Utilizing a Raleigh CPA allows management to focus on day-to-day operations, and generate additional streams of income.

Continue reading Why a Non-Profit Should Hire a CPA Firm?