Small Business and the Affordable Care Act | Milwaukee small business accounting

 

On February 10, 2014, the Treasury Department issued rules that will allow mid-sized businesses to delay for one year the requirement to provide health insurance for their workers. Read more.

 

COMPLETE ARTICLE:

On February 10, 2014, the Treasury Department issued rules that will allow mid-sized businesses to delay for one year the requirement to provide health insurance for their workers. The rules also offered some relief for larger companies.

 

Businesses with 50 to 99 employees will now have until January 1, 2016, to provide minimum, affordable health insurance to their employees, or face penalties. Previously, the deadline for meeting this requirement was January 1, 2015.

 

In order to qualify for this extension, employers must certify that they have not laid off employees in order to come under the 100 employee threshold.

 

Larger employers – those with 100 or more full-time employees – will be allowed to phase in the required health insurance coverage. These companies won’t owe a penalty under the insurance mandate so long as they offer coverage to at least 70% of their full-time employees by January 1, 2015, and at least 95% by 2016.

Don’t squander away your precious time by struggling with complicated IRS forms and complex bookkeeping chores. You can get fast and effective solutions to all of your tax and accounting affairs when you employ Edith I Christian, CPA. We know how stressful your life can be. But when you call on us, you can relax a little bit.  Call today.

Edith Christian CPA
N9 W29360 Thames Road
Waukesha, WI 53188