Health care

Practice

CFO Survey: Workers Taking on More Health Care Costs

A recent survey of nearly 100 US financial executives by Deloitte LLP found that 42 percent of respondents pointed to the Affordable Care Act as the reason they had to pass further health care costs on to their employees during the fourth quarter of 2013 – and 63 percent are planning to do so this year.
Tax

IRS Relaxes Rules for Health Care FSAs

Flexible spending accounts (FSAs) used for health care expenses just became slightly more flexible. On October 31, the IRS announced that employers can modify the "use-it-or-lose it" rule frequently resulting in a loss of FSA funds.
AccountingWEB Life

Why Everyone Needs an 'Incapacity Plan'

While many people carefully plan for retirement and what will become of their estate after death, too few provide for that middle ground – incapacity. Incapacity planning ensures you're able to speak for yourself in all decisions.
Tax

NTEU Urges IRS Workers to Fight Obamacare Switch

The IRS is tasked with enforcing certain onerous provisions in the Patient Protection and Affordable Care Act of 2010, but the union representing IRS staffers is dead set against it.
A&A

SASB Provides a Remedy for Sustainability Issues Reporting

In an effort to provide public companies with a standardized framework for reporting the ESG issues that affect their industries, the SASB unveiled its first set of provisional sustainability accounting standards.
Tax

Royal Baby or Commoner - What's the Cost?

The royal baby finally arrived July 22, and one thing seems certain. His royal parents, William and Kate, won't need to think about such trivialities as hospital bills.
Practice

October 1 Deadline Looms for Obamacare Notices

The common perception is that most of the key provisions included in the Patient Protection and Affordable Care Act take effect in 2014. But employers should be advised that other responsibilities and rights kick in before then.
Tax

IRS Is Sued for Seizing Medical Records

The IRS has come under fire recently for reportedly authorizing intrusions into e-mails and online postings without obtaining a search warrant. Now it appears medical records might not be safe from the prying eyes of the nation's tax collection agency.
Tax

IRS Asked to Clarify Rules for New Medicare Surtax

Critics are calling for the IRS to clarify certain rules relating to the new 3.8 percent Medicare surtax on net investment income (NII) that kicks in this year. Proposed regulations were issued in December, but advocates of business owners and estates have asked the IRS to shed more light on several murky areas.
Tax

2013 Health Care Reform Checklist

The following checklist is intended to provide a list of common steps that plan sponsors should consider in preparing for compliance with health care reform for 2013 and later years.
Tax

Mission Impossible: Are Medical Expenses Deductible?

It's difficult, if not downright impossible, for some taxpayers to claim medical expense deductions on their federal income tax returns. And no wonder: With a daunting threshold of 7.5 percent of AGI to clear, your clients might not even be inclined to try.
Practice

Dealing with Dementia - Practical Knowledge for Your Practice

Every year, countless Americans with dementia fall victim to financial fraud and abuse. They face an increased risk of being taken advantage of due to their diminished ability to detect willful deceit and understand finances.
Tax

Medicare Surtaxes: Being Forewarned Is Forearmed

Regardless of whether or not Congress resolves the looming "fiscal cliff" crisis or the nation is allowed to fall into the abyss, two new Medicare surtaxes will take effect on January 1, 2013.
Tax

Final Regs Diagnose New Medical Device Tax

Just a few heartbeats away from the New Year, the IRS has issued final regulations governing the imposition of a new excise tax on "medical devices," such as pacemakers and implantable defibrillators.
Tax

IRS Tinkers with New Tax on Medical Devices

A controversial component of the 2010 health care law imposes a new 2.3 percent excise tax on most medical devices, beginning in 2013. The IRS has just issued a fifty-eight-page document on implementation of the rules.
Practice

Grow Your Business with a New Focus on Healthcare

Most CPAs and wealth management providers would love to find a way to grow their businesses in a sustainable manner. One solution we don’t often think about is right in front of our noses – especially now, as cold and flu season has arrived.
A&A

Health Care Reform: Financial Impact 2013 and Beyond

As the third year of the PPACA approaches, employers need to be aware of additional fees that will be assessed on insurers and plan administrators of self-insured plans beginning in 2013.
Tax

YouTube Video Features Medicare Surtax

"Benjamin Franklin said, 'In this world, nothing could be said to be certain, except death and taxes.' At least with taxes, they keep changing." Thus starts a new YouTube video entitled "Medicare Investment Income Tax."
Tax

Accountants Debate How to Advise Clients on Health Care Act

While the IRS is telling congressional leaders that it won't enforce the requirement under the new health care law that Americans buy insurance, accountants are considering how to advise their clients.
Tax

IRS Guides Employers on 'Play-or-Pay' Rules

In the wake of the Supreme Court upholding the PPACA, it's time for employers to get down to work. In particular, business clients must soon establish which employees will be covered under the "play-or-pay" rules.

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