Blog

“Play or Pay” Mandate Postponed

March 13, 2014

The PPACA shared responsibility provision requires “large” employers to provide a “minimum value” of “affordable” health plan coverage to their full-time employees or face a potential penalty. These “play or pay” rules were scheduled to take effect January 1, 2014, but have been postponed until January 1, 2015. In addition, for employers with the equivalent…

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Obama Releases 2015 Budget Proposals

March 12, 2014

President Obama recently unveiled his $3.9 trillion FY 2015 budget proposals, with an emphasis on passing tax reform for families and lower income individuals.  Highlights of the budget proposals include:  Limitations on deductions for higher incomes Tax carried interest as ordinary income Reproposed “Buffet rule” Enhanced Code Sec. 179 expensing Limitations on like-kind exchanges of…

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Don’t Let Estate Taxes Force Your Heirs to Sell the Family Business

March 6, 2014

Many family business owners spend years nurturing their companies with the goal of providing a livelihood for their heirs. But often their estates don’t have enough cash to pay estate taxes and other expenses after they die, which can force the family to sell the business. If your’re concerned that your heirs will face this predicament, ask…

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Avoid the Negative Consequences of Plan Disqualification

February 17, 2014

Correct Any Missteps Before It’s Too Late A retirement plan sponsor has a fiduciary duty to ensure that the plan complies with all federal and state rules and regulations, such as the Internal Revenue Code and ERISA. Plan sponsors must follow the plan’s provisions and cannot deviate from those provisions, unless amending the plan. Not…

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Work With An Expert When It’s Time To Value Your Company

February 17, 2014

Oftentimes, business owners require a valuation of their company to protect their wealth or comply with various laws and regulations. Determining the fair market value of a business is achieved via a complicated process, which a professional appraiser can conduct. The Purpose Behind A Business Valuation There are numerous reasons for performing a business valuation.…

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Strategies to Boost 401(k) Plan Participation

February 17, 2014

According to the Department of Labor (DOL), about one-third of eligible employees do not participate in their employer’s 401(k) plan. But, participation in a 401(k) plan benefits both employees and employers. Fortunately, there are strategies to help increase employee participation. Why Participation Matters For many employees, their 401(k) plan is their only source of income…

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