Events Calendar

Cost Segregation

 

Who can wait 39 years to recover the costs you just spent on the building you just purchased? Cost segregation is a proven way to reduce cost recovery time and increase cash flow.

 

Contact your UHY professional today.

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IRS Issues Final Regs Explaining the Health Insurance Premium Tax Credittop 

The IRS recently issued final regulations relating to the health insurance premium tax credit-enacted as part of the 2010 health reform legislation. The final regulations governing Section36B provide guidance to individuals who enroll in qualified plans through Affordable Insurance Exchanges and claim the credit, and to the Exchanges that make qualified health plans available to individuals and employees. The final regulations (scheduled to become effective May 23, 2012) apply to tax years ending after December 31, 2013.

The health insurance premium tax credit is designed to make health insurance affordable to taxpayers whose household income for the tax year is between 100% and 400% of the federal poverty level, who cannot be claimed as a dependent by another taxpayer and who are not eligible for other qualifying coverage such as Medicare or "affordable" employer-sponsored health insurance plans. Eligibility for coverage is determined on a month-to-month basis. The monthly premium assistance amount is the lesser of the premium for the qualified health plan in which a taxpayer enrolls in or the excess of the premium for the benchmark plan over the applicable percentage of the taxpayer's household income.

Tax returns for every taxpayer receiving advanced credit payments must file their income tax return on or before the 15th day of the fourth month following the close of the tax year. Married taxpayers who do not file a joint return are not allowed to claim the premium tax credit under the newly issued regulations.

For more information or questions on this topic, please contact your professional at UHY LLP in Farmington Hills (248) 355-1040 or Sterling Heights (586) 254-1040 or visit us on the Web at uhy-us.com.

 

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Events Calendar

 

UHY CORE Business Management Webinar Seriescore      

 

Start your week out right with an executive-level, 55-minute webinar. The CORE Business Management complimentary webinar series is packaged to provide busy executives with the understanding, business direction and recommended strategies to help address, achieve and maintain business profitability and viability. Each session will run from 8:05 AM-9:00 AM EST. The series targets strategy, tools and methodologies to achieve and sustain a viable business based on strengthening a company's processes leading to increase profitability, market share and operational control. 

 

5/28        Retooling Your Economic Engine

6/11        Social Media as a Marketing Tool

 

CPE credit is offered.The CORE webinar series will be presented by Alan Lund, Consulting Principal. Alan has over 30 years of experience providing business process analysis and profit improvement services. Please contact Alan Lund via email alund@uhy-us.com or phone 248-204-9447 to register.

 

5/30 UHY LLP Petroleum & C-Store Briefing Webinar Series: Mergers & Acquisitionspetro

 

Please join us for this quick hitting lunch hour geared towards petroleum and c-store business owners, chief executives and chief financial officers. Tune in as our experts address current trends in M&A activity affecting the industry and you. Webinar will conclude with an open discussion.

 

Wednesday, May 30, 2012

12:00 PM-1:00 PM EST

 

CPE credit will be offered. Pre-registration for this complimentary webinar is required. Multiple registrations are welcome. Please contact Courtney Gray via email cgray@uhy-us.com or phone 586-843-2533 to register. Log-in information will be sent via email to each registered attendee a few days prior to event.

 

6/12 Reshoring/Backshoring Breakfast Forumlund

 

The National Tooling & Machining Association proudly presents "Reshoring/Backshoring" with Alan Lund, Counseling Principal of UHY Advisors, MI.

 

When:                    Tuesday, June 12, 2012, 8:00 AM-10:00 AM EST

Where:                   Troy Community Center, 3179 Livernois, Troy, MI  48083              

Cost:                      $10.00 per person (includes breakfast)

Registration:          Contact Anne Cairns via phone (586) 872-6363 or email detroitntma@aol.com

 

As many companies are aware, a large number of manufacturing jobs have been sent offshore during the past two decades. We are now witnessing an increasing number of these manufacturing projects being brought back to the United States.  Companies such as Caterpillar, Master Lock, General Electric, Whirlpool, Buck Knives, Otis Elevator and NCR, to name a few, have brought major sections of their overseas production back to the U.S. market in the past three years.  Call it "reshoring" or "backshoring" or just "rebalancing", but the dynamics of global labor, transportation and productivity costs are combining to begin a shift to bring jobs back to the U.S.

 

Key points to be discussed at this NTMA meeting include:

*         What is Reshoring/Backshoring?                                                                        

*         Will manufacturing return to the US . . . .When and why?

*         Eroding Cost Advantages of Asian countries

*         Can U.S. productivity compete with Low Cost Countries?

*         What is a strategy for a Global Company?

 

Alan K. Lund is a Consulting Principal of UHY Advisors MI, Inc. He has over 20 years of direct manufacturing/operations work experience during his career with nationally recognized companies such as Lennox Industries and Fisher Controls.  He has a Bachelor of Science in Mechanical Engineering from Iowa State University. Alan manages a team of professionals devoted to providing business process and profit improvement services and has provided consulting and business advisory services to over 200 companies in the areas of business profitability, industry diversification, business analysis and business process improvement.  Alan has experience working with a wide variety of industries including, metal/plastic fabrication, transportation, construction, tool and die, rapid prototyping, chemical processing, software developers, retail and service organizations.  Clients have ranged from as small as a 4 employee entrepreneurial start-up to a 16,000 employee, multi-site organization.

 

Save the date! More UHY events coming up...save
 

 

6/2          17th Annual Dan McCarty Golf Classic

7/28        6th Annual Cruisin' for Charity Car Show

10/16      UHY BRIC Series-International Roundtables

11/1        UHY LLP Annual Manufacturing Outlook 2013

12/5        UHY LLP Annual Accounting & Regulatory Update

12/5        UHY Advisors Annual Tax Forum

 

Contact Courtney Gray via email cgray@uhy-us.com or phone 586-843-2533 to save your spot or for more information.

 

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Published by UHY LLP News.   

Copyright � 2011 UHY LLP. All rights reserved.

 

Our firm provides the information in this newsletter as tax information and general business or economic information or analysis for educational purposes, and none of the information contained herein is intended to serve as a solicitation of any service or product. This information does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisors. Before making any decision or taking any action, you should consult a professional advisor who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.   

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of "UHY Advisors."  UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms.  UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. and UHY LLP are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. "UHY" is the brand name for the UHY international network. Any services described herein are provided by UHY Advisors and/or UHY LLP (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.