The Affordable Care Act, Again.

Love it or hate, we still need to deal with it. Employers will pay large penalties for not complying with the ACA.

Generally, employers with less than 50 full time equivalents (FTE) are exempt from having to provide coverage. However, if you have fewer than 50 employees and you do provide coverage, it cannot be discriminatory. So except for some very tight and hard-to-understand rules for S Corp shareholders.

If someone in your company is provided healthcare coverage, or receives money to purchase insurance, everyone needs to be offered coverage. The rules are still changing and being refined.

Repair Regulations 

Ten years in the making, this is major overhaul of old rules that determine when you can deduct an expenditure related to an asset. And when it must be capitalized and depreciated (meaning you stretch the deduction over several years).

Scale Up Aurora

I had the pleasure of recently meeting Judy Dawson, the ScaleUp Aurora Project Coordinator of the Women’s Business Development Center in Aurora. This is an intensive program for businesses (not just woman-owned businesses) within a certain revenue range who want to work with peers to take their business to the next level.

 

SHAMROCK vCFO Services in Naperville, IL specializes in helping small and medium size businesses with strategy, taxes, accounting, and financial performance management. Steve Shamrock left big companies to help smaller ones energize the economy.