MBA News

Here is a library of some of the IRS publications covering issues that can affect businesses and employers. The rules are often complicated and can be difficult to implement. Contact us if you need further guidance.       Title Publication Number Description... Continue Reading

On the second Sunday of March at 2 a.m., Daylight Saving Time begins for most of the United States — so this year,  we’ll turn the clocks forward one hour on March 8.* Just remember…Spring forward, Fall back    * Traditionally, Daylight Saving Time began in... Continue Reading

As the IRS puts it, “every person that provides minimum essential coverage to an individual during a calendar year must file an information return and a transmittal.” Health plan providers and self-insured employers are “persons,” in the eyes of the IRS.... Continue Reading

The Tax Increase Prevention Act of 2014 (TIPA) was signed into law on December 19, 2014. Thankfully, TIPA retroactively extends most of the federal income tax breaks that would have affected many individuals and businesses through 2014. So, these provisions may have a positive... Continue Reading

Historically, companies that wanted their employees to be protected with health coverage, but didn’t want the hassle of having a company health plan, could simply give employees an amount of money sufficient to reimburse them for the cost of buying that coverage or some... Continue Reading

Last year, more than 21 million viewers tuned into the NCAA men’s college basketball championship game, and the other March Madness games averaged 10.5 million viewers each. Will you be watching this year’s festivities? Unfortunately, many games are aired during... Continue Reading

2014 Charitable Donations If you don’t meet IRS substantiation requirements, your charitable deductions could be denied. To comply, generally you must obtain a contemporaneous written acknowledgment from the charity stating the amount of the donations, whether you received any... Continue Reading

Employees who push back that start date for retirement savings will have a hard time catching up — and may wind up on your payroll longer than you might prefer. For example, an employee who starts saving at age 25 and stops at 65 will, assuming a seven percent average... Continue Reading

If you signed up for coverage through the ACA federal Health Insurance Marketplace last year, you should have received a statement in the mail in February from the Marketplace called a Form 1095-A. This statement includes important information you need in order to complete and... Continue Reading