Health care

A&A

KPMG Survey: New Excise Tax Will Hit Medical Device Companies Hard

Financial executives in the medical device manufacturing industry predict that a new excise tax and the burden of its related compliance costs will have a negative impact on their company bottom lines, according to a survey conducted by KPMG LLP, the audit, tax, and advisory firm.
Workplace Fitness

Hungry? Bring Healthy Snacks to the Office

Working eight or more hours a day can make it difficult to eat healthy snacks unless you plan ahead. Research shows that eating every four hours helps keep your metabolism charged and your energy level high, which leads to enhanced productivity.
Practice

Employers, Employees, and Even Society Benefit from Office Wellness Programs

Research shows that wellness programs are becoming more prevalent in the workplace, and for good reason. They offer benefits to employers and employees alike – it’s a win-win. Many studies and surveys attest to the value of wellness programs, including to society as a whole.
A&A

Update: Health Care Law under the Microscope

On March 30, the US Supreme Court held closed-door deliberations on President Obama's health care overhaul law. It is likely they cast their preliminary votes on how they will eventually rule. As the Supreme Court is known for keeping its secrets, no leaks are expected before formal opinions are written and announced from the bench. This is not expected until late June.
Tax

Demi Moore and Whitney Houston: Do Drugs and Tax Deductions Mix?

In the wake of her breakup with husband Ashton Kutcher last year, actress Demi Moore spiraled out of control, leading to extreme weight loss, convulsions, and other medical issues. Moore's camp isn't providing any details about her physical and mental condition, but we can assume she's receiving the care she needs.
Practice

KPMG to Offer Tax Offsets to LGBT Employees

KPMG LLP announced it now offers its lesbian, gay, bisexual, and/or transgender (LGBT) partners and employees offsets for the additional federal and state tax costs incurred when they pay for same-sex domestic partner medical benefits. The tax equalization benefits will cover the 2012 tax year.
Workplace Fitness

IRS Gears Up for Health Care Law Appeals

The IRS is bracing itself for the implementation of the massive new health care legislation. A few select provisions in the Affordable Care Act have already taken effect, but the most controversial sections of the new law are not scheduled to kick in until 2014.
Tax

Treasury issues new guidelines on health insurance premium tax credits

The Department of the Treasury has released new proposed regulations providing guidance on upcoming health insurance premium tax credits.
Tax

CFOs speak out on economy, health care, wages, and benefits

In a national biannual survey of U.S. Chief Financial Officers and senior comptrollers conducted by Grant Thornton LLP, 54% of respondents say the best way to reduce the U.S. federal deficit is to reduce spending.
Practice

Year one, ObamaCare report card shows health care costs rising

As health care reform marks its one-year anniversary, a new Deloitte report reveals that consumers are spending $363 billion, or 14.7 percent more, on health care than traditionally reported in official government accounts.
Tax

The prescription for medical deductions

Do you have clients who need a clear explanation of how the medical deduction works? This article explains it all.
A&A

Department of Labor, SEC prepare to change definition of 'fiduciary' while AICPA balks

The Department of Labor's (DOL) Employee Benefits Security Administration (EBSA), the government group responsible for educating Americans about how retirement and health and certain welfare plans work, has proposed that the definition of the term "fiduciary" be updated.
Tax

CFO survey: U.S. leads Europe in economic, business confidence

Chief Financial Officers in the United States lead CFOs in Europe in optimism, access to credit, and plans for hiring new workers, according to a recent survey. Despite their differences, U.S. and European CFOs share some of the same business challenges and economic worries as they kick off 2011.
AccountingWEB Life

Taxpayer Advocate report focuses on tax reform, collection issues, health care reform

This year's report identifies 21 problems, provides updates on four previously identified issues, makes recommendations for administrative and legislative change, and analyzes the 10 tax issues most frequently litigated in the federal courts.
Tax

IRS assists small employers claim new health care tax credit

The Internal Revenue Service recently released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year.
A&A

New Congress Part 2: Health care, Form 1099, financial reform

With Republicans poised to take control of the House in just a few weeks, there is no shortage of speculation about what they will address. To study the possibilities, President Obama appointed a bipartisan commission to make recommendations.
A&A

AICPA calls on Congress to repeal 1099 reporting requirements

The American Institute of Certified Public Accountants (AICPA) called on Congress this week to repeal what it considers burdensome information reporting requirements placed on businesses and rental property owners by the Patient Protection and Affordable Care Act and the Small Business Jobs Act of 2010.
A&A

Highlights of the 2010 IRPAC Report

This month, the Information Reporting Program Advisory Committee (IRPAC) released its report for 2010 outlining recommendations to the IRS regarding several key issues that have recently become law, or are soon to take effect.
Tax

New W-2 form defers requirement to report cost of health coverage

The IRS has issued a draft Form W-2 for 2011 and has announced that it will defer the new requirement for employers to report the cost of coverage under an employer-sponsored group health plan.
AccountingWEB Life

Does the health care bill impose a tax on the sale of your home?

We have received many inquiries from clients and friends of the firm regarding the veracity of claims that the new health care legislation will impose a 3.8 percent Medicare tax on sales of personal residences beginning in 2013.

Pages

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
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