The Affordable Care Act: Know the Terms

Are you still unclear about your responsibilities as an employer under the Affordable Care Act (ACA)? Do you find the definition of ACA terms confusing? Here’s a plain English guide to selected terms employers are likely to hear. Applicable large employer. A large employer is defined as an employer with at least 50 full-time employees […]

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Plan Today for Future Long-Term Health Costs

According to the U.S. Department of Health and Human Services, nearly 70% of people turning age 65 will require long-term care, such as assistance with basic personal activities during their lifetimes. With costs of this care ranging from $6,000 to $10,000 a month or more, planning to address that risk is a smart move. One […]

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Supreme Court Issues Ruling on ACA Subsidies

In June, the U.S. Supreme Court decided the fate of the premium tax credit under the Affordable Care Act (ACA). The main issue before the court was whether federal subsidies could be offered to people who purchased health insurance through the federal health insurance marketplace rather than through a state-run exchange. Under a literal reading […]

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Life Insurance – Get The Tax Facts

You may think of life insurance as income-replacement protection for your family in the event you or your spouse dies. But what are the tax implications of life insurance? Here are four rules to know: Death benefits. Normally, death benefits paid under a life insurance policy aren’t subject to income tax. But this isn’t a […]

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Refinancing? Understand the Tax Issues

Are you thinking of refinancing your home mortgage? Keep the tax rules in mind. Track “points.” A point is a fee equal to one percent of the loan amount. While you can fully deduct the points you pay when you buy your home, points paid on a refinancing are generally amortized over the term of […]

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Monitor Your Accounts Receivable

Monitoring your accounts receivable may seem like one more chore in an already busy workday. But this simple activity is important. Here’s an illustration. Say you’re operating with a gross profit margin of 20% and your uncollectible receivables are $10,000. Your business must generate an additional $50,000 in new sales to make up for the […]

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Review Your Beneficiary Choices

Are you storing the documents that designate the beneficiaries of your retirement plans, IRAs, and insurance policies in a safe deposit box? If so, it’s time to dust off these important papers and review them. Why? You probably made decisions about who will receive retirement assets or life insurance proceeds upon your death when you […]

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Understand Business Financial Ratios

Financial ratios provide a useful way to pinpoint strengths and weaknesses in the performance and solvency of your business. Here are four types of ratios that you can monitor using the figures from your balance sheet. Liquidity ratios, such as the current ratio, measure the ability to pay bills over the next 12 months. You […]

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Know the Tax Rules for Summer Travel

Are you traveling for business this summer? If you’re planning to take a tax deduction for your expenses, the rules may be more complicated than you think. Here’s a refresher. The general rule. “Travel” expenses are ordinary and necessary costs incurred while away from your normal working area. “Away” means you’re away from your tax […]

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Get a Tax Credit for Dependent Care Expenses

Did you know that federal tax law allows you to claim a credit when you pay someone to care for your kids while you’re at work? The child and dependent care credit is valuable because it reduces the amount of tax you owe dollar for dollar. Here’s an overview of the rules. The child care […]

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