February 2012 It’s a new year and with it comes change. With the upcoming presidential election and evolving technological advancements, there will be plenty of challenges ahead. Here are eight issues that might result in legal issues for businesses during 2012:1. Online piracy of intellectual property. Debate is heating up about the protection of intellectual […]
By Kathleen Sebelius, Secretary of Health and Human Services http://www.healthcare.gov/blog/2012/01/ratereview01122012.html The health care law gives us new tools to protect consumers who are looking for health insurance. One of those tools is “rate review”. For the first time ever, in every State, insurance companies are required to publicly justify their actions if they want to […]
The IRS has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Background:If you use a personal vehicle for business driving, you can generally deduct the actual expenses attributable to your business use. This includes expenses such as gas, oil, […]
Health care reform imposes a new $2,500 limit on annual salary reduction contributions to health FSAs offered under cafeteria plans. When is this change effective? Under Code Section 125(i), as amended by PPACA, Pub. L. No. 111-148 (2010) and HCERA, Pub. L. No. 111-152 (2010), this change is effective for taxable years beginning after December […]
February 2012 In meeting the new Form W-2 Reporting requirements, what coverages provided by the employer to employees must be reported? The Form W-2 reporting requirement applies only to “applicable employer-sponsored coverage,” a term that generally includes any employer-provided group health plan coverage under an insured or self-insured health plan that is excludable from the […]
January 2012 The “payroll tax holiday,” which was scheduled to end on December 31, 2011, was extended by Congress through the end of February. But with partisan politics playing a major role as national elections loom in 2012, the long-term outcome is far from certain. New “Recapture” Provision Under the terms negotiated by Congress, […]
January 2012 Back in 1998, many people were first discovering the Internet through dial-up telephone connections. Google was just being launched in a California garage and the movie “You’ve Got Mail” hit theaters. Cell phones were getting smaller but they weren’t yet smart. Very few people sent text messages. And unless you were in the […]
According to IRS statistics, approximately 33% of all employers make payroll errors. Roughly 40% of small businesses incur an average of $845 per year in IRS penalties. With more tax law changes expected, there is even greater risk for payroll errors. Other costs incurred by erroneous payroll preparation include reduced employee morale and employee retention. […]
January 2012 Interview Bias Impacting Hiring Decisions Seasonal changes are in the air and for some businesses that also requires an increase in seasonal hiring. The hiring steps involve several key components, one of which is the interview phase. Interview bias can result unintentionally. Even the most seasoned of interviewers may fall victim to some […]
January 2012 Every year, we receive numerous questions in how to complete Part I of Form 8889. The reason for these questions is that the instructions provided by the IRS to complete Form 8889 are very complex and unclear. To assist, Larry Grudizen, our ERISA Attorney, has updated his explanation that shows how to complete Part I of Form 8889 in 27 […]
