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Tuesday, 03 June 2014

New Law Repeals Mandated Annual Deductible Cap For Small Group Policies

Written by Thomson Reuters

This past April, Congress passed and the president signed into law the Protecting Access to Medicare Act of 2014. It primarily postpones, yet again, changes to the formula used to determine the amounts Medicare pays physicians for services. But, in a secondary function of particular interest to many small businesses, the legislation also eliminates limitations on annual deductibles previously mandated under the ACA. As though it Never Happened According to the now-eliminated ACA provision, starting in 2014, annual deductibles for health care plans were to max out at $2,000 for a plan covering a single individual and $4,000 for any other plan (indexed for increases in health insurance costs)...

Published in Healthcare
Tuesday, 03 June 2014

Gearing Up for the ACA's "Cadillac Tax"

Written by Thomson Reuters

Employers have plenty of reasons to hit the brakes on the cost of their health care plans. One good example: They want to keep costs down so they can stay in business. But there's another intimidating motivator looming on the horizon. In 2018, some employers will face a 40 percent excise tax on plan values that exceed a prescribed cap under the Affordable Care Act (ACA)...

Published in Healthcare
Tuesday, 03 June 2014

Must Our Plan Comply With the ACA's Excessive Waiting Period Rules?

Written by Thomson Reuters

Question: We sponsor a grandfathered, non-calendar-year self-insured health plan that imposes a three-month eligibility waiting period. (Our next plan year begins on August 1, 2014.) As an employer with a grandfathered plan, are we required to comply with the ACA's prohibition on excessive waiting periods? And, if so, would we be in compliance with the existing three-month waiting period?..

Published in Healthcare
Monday, 02 June 2014

IRS Streamlines Applications for Tax-Exempt Status

Written by Thomson Reuters

It should be easier for certain not-for-profit organizations to apply for tax-exempt status starting this year. The IRS recently released a draft of Form 1023-EZ - Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code.The form is only two pages long and is far less burdensome than the standard Form 1023. But it may be used only by not-for-profits that meet specific requirements...

Published in Tax
Monday, 02 June 2014

Estates and Trusts: Final Regs Detail Miscellaneous Deductions

Written by Thomson Reuters

The Treasury Department and the IRS issued final regulations regarding which investment expenses and other miscellaneous itemized deductions are subject to the 2 percent floor when incurred by a non-grantor trust or estate. The final regs state that a miscellaneous itemized deduction incurred by an estate or non-grantor trust is subject to the 2 percent floor to the extent that it commonly or customarily would be incurred by a hypothetical individual holding the same property free of trust. The type of product or service rendered to the estate or non-grantor trust determines whether the cost commonly or customarily would be incurred by a hypothetical individual owning the same property...

Published in Wealth Management
Thursday, 29 May 2014

Survey Says: Better Outlook for Construction Firms in 2014

Written by Thomson Reuters

As much of the country recovers from one of the harshest winters in memory, hope abounds for a spring thaw in construction. According to a recent report released by the Associated General Contractors of America (AGC), a trade association for the construction industry, there is reason for cautious optimism. However, the favorable outlook for the remainder of 2014 is tempered somewhat by a dwindling supply of skilled workers and a few other negative factors. The report is based on results of a survey AGC conducted of more than 800 construction firms from every state of the union and the District of Columbia...

Thursday, 29 May 2014

May 2014 Risk Report

Written by Rehmann Team

Rehmann Corporate Investigative Services (CIS) compiles Risk Report to help raise your awareness of the risks facing you and your company today – from fraud to malware and more. If you would like to learn more about protecting yourself against these threats, we can help: call us today at 248.267.8445...

Wednesday, 28 May 2014

Healthcare cyber threats and you

Written by Rehmann Team

With the push for electronic health care records and the emergence of HealthCare.gov, there is a surge of electronic protected health information (ePHI) being exchanged online. This provides cybercriminals with ever greater surfaces to attack, and increases vulnerability of this important information. It is vital for the health industry to aggressively protect data...

Tuesday, 27 May 2014

Live Video! 2014 Mackinaw Policy Conference

Written by Rehmann Team

Rehmann is pleased to bring you LIVE video coverage of the 2014 Mackinac Policy Conference from Detroit Public Television. Whether it is entrepreneurship, STEM education and tomorrow’s workforce, or economic development, stay up to date with the most important issues facing Michigan this year. For a complete broadcast schedule visit MiVote.org...

Published in Business Wisdom
Monday, 26 May 2014

Update on the IRA 'One Rollover a Year' Rule

Written by Thomson Reuters

The U.S. Tax Court made a controversial ruling in January that contradicted an IRS publication designed to explain the law to taxpayers. In Bobrow, the court ruled that the one-rollover-per-year rule applies to all of taxpayer's individual retirement accounts (IRAs) in aggregate, rather than on an account-by-account basis...

Published in Wealth Management
Page 130 of 151

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