On October 31, the U.S. Treasury Department modified its FSA “Use It or Lose It” provision to allow rollover of health FSA funds. This means that the risk of losing…
Given the ever-escalating cost of providing employee health care benefits, health savings accounts (HSAs) offer a tax-favorable way to set aside funds to meet future medical needs.
With the passage of the Patient Protection and Affordable Care Act and the Small Business Jobs Act during 2010, you might have heard of new reporting requirements for Form 1099.
Originally, with the passage of the new health care law, beginning in 2011, employers were to report health care benefits for employees. This amount would be reported on each employee’s form W-2, but it would not affect an employee’s individual taxable income.
A small, but important, component of the health care reform bills passed earlier this year…..
No, you won’t have to pay taxes on health insurance paid by your employer!
But there is a new reporting requirement included in the new health care law that requires health insurance premiums to be reported on an employee’s W-2. Current law excludes health insurance from taxable income, and nothing has changed this tax-free employee benefit.
The new small business health care tax credit is designed to encourage small employers to offer and pay for health insurance for the first time, or maintain coverage they already have.
The Health Care Act of 2010 covers a wide range of provisions relating to health care reform. Some were retroactive to 2009, while others don’t become effective until 2014. Several provisions, relating to “children” under the age of 27, became effective March 30, 2010.
Does your small business provide health insurance for your employees? Then you might be eligible for a special tax credit as part of the health care reform legislation, the Patient Protection and Affordable Care Act, approved by Congress, and signed by President Obama on March 23.