THE MARCONIAN
Volume II, Issue 53
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March 21, 2014 - In This Issue:
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Friday, March 21
 Saturday, March 22
Partly Sunny
High 43 Low 27
Sunday, March 23
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Friday, March 21
Bulls vs Pacers;
6 pm; WGN
 Friday, March 21
Blackhawks vs. Hurricanes; 7 pm; CSN
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Network After Work
Godfrey Hotel
Tuesday, April 8; 6-9 pm
127 W. Huron St.
Chicago
Network After Work is comprised of 450,000 like minded professionals from around the country and are for all industries and career levels interested in expanding their professional network and creating new business opportunities. Events take place monthly which allows guests a chance to foster new professional connections in a relaxed atmosphere conducive to business and social networking.
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Who Do We Think We Are?
Second City
Friday, March 21; 8 pm
1616 N. Wells St.
Chicago
The Second City's 100th revue kicks off another election cycle by diving into the country's increasingly personality driven political system, and celebrating the absurd and banal beauty that has come to define U.S. politics and the nation at large.
Chicago Beer Experience Beer Tours: Lincoln Park/Lakeview
Harrigan's
Saturday, March 22; 3 pm
2816 N. Halsted St.
Chicago
This event offers weekly walking tours to several of Lincoln Park and Lakeview's best establishments. Learn about Chicago history and beer on this guided tour, which features craft beer tastings. Directions to the starting location will be provided upon purchase.
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Obamacare: What Every Small Business Owner Needs to Know
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Corey Whelan, newyork.cbslocal.com
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Change, even when positive, can create confusion and anxiety. Just ask any small business owner trying to figure out the Affordable Care Act. The Act, also called Obamacare, refers to mandated health care reform for everyone and impacts upon businesses of varying sizes differently. This has some small business employers scratching their heads. The stops and starts associated with the first wave of insurance signups have further confused the landscape. If you run a small company, this is how the Affordable Care Act may affect your bottom line.
Does It Hurt or Help?
Before Obamacare, health insurance costs reached untouchable levels for many-if not most-small business owners. These small business owners were unable to leverage large-group buying power. With Obamacare, now they can. The lion's share of working Americans are employed in small companies. Under the Affordable Care Act, small business owners are better able to provide health care coverage by pooling both risk and buying power. This allows for the acquisition of high-quality health insurance at a much-lowered cost.
Employers with staffs of less than 25 full-time equivalent employees making an average income of $50,000 or less may benefit from the Small Business Health Care Tax Credit-provided they meet certain requirements. In order to qualify, businesses must pay a minimum of 50 percent of their full-time worker's insurance premiums. The tax credit goes towards an amount of up to 50 percent of this contribution, if the business is run as a for-profit company and not classified as tax-exempt. For companies employing fewer workers, the credit may be even higher, particularly if employee salaries are in the $25,000 range. Eligibility determination for the Tax Credit can be further assessed by your tax adviser or accountant and at the HealthCare.gov website. In order to be eligible for the tax credit, coverage must be purchased through the SHOP Marketplace.
What Is SHOP?
SHOP, or the Small Business Health Options Program, is open to employers who have 50 or fewer full-time equivalent, common law employees. This means that part-time employees can be pooled together so as to equal full-time employee status-although health insurance coverage does not need to be offered to part-time employees or their dependents. You can calculate your equivalent full-time employees here. In order to buy insurance through SHOP, and be eligible for a tax credit, all full-time workers on the job for 30 hours or more a week must be offered coverage and, in some states, at least 70 per cent must accept that coverage. There are a number of benefits to buying insurance through the SHOP Marketplace, including:
- Ability to control the type of coverage offered and level of contribution towards employee premiums.
- Ability to control the length of the open enrollment period for employees.
- Choice of plans offered over four levels of coverage ranging from Bronze to Platinum and representing 60-90 percent of the total, average cost of care.
- Monthly start dates and no cut-off periods.
- Plans can be reviewed and compared for both cost and benefit level prior to purchase.
- Business owners and their spouses can get coverage if their business is deemed eligible for SHOP.
Applying for a health plan through SHOP requires the support of an insurance company, agent or broker. It must be purchased in a state where you have a principal business address or an employee work site, such as a store or office. Employers are not required to cover their employee's dependents in most states. They are also not required to cover dental plans, however, are encouraged to do so.
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Looking for a New Opportunity?
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Marco Management Solutions:Temporary Senior Level Position
Sales and Use Tax Accountant
Marco Management Solutions' client, a company in the distribution industry, is currently seeking an experienced Tax Accountant for a contract opportunity scheduled to begin March 2014. The Tax Accountant will be focused on Sales and Use Tax compliance activities. Responsibilities will include querying data out of Hyperion, dowloading data in MS Excel templates to analye, and reviewing data and submitting to the 3rd party compliance firm for processing. The hourly rate for this position is $30 per hour. If interested, please contact Renee Beckman at 312.546.9800 or Rbeckman@marcofinancial.com.
Marco Financial Search: Permanent Hire Position
Accounting Manager
Marco Financial Search's client, a company in the service industry, is currently recruiting for a Manager of Accounting & Reporting to work on a full-time permanent basis. The Manager of Accounting & Reporting is a senior financial position within the operations who works directly with the Controller, managing the company's financial reporting function. This position is responsible for timely and accurate accounting and recording of all transactions, for preparation of financial reports, analysis of financial performance and for preparing corporate tax returns. The salary for this position is $100,000 per year. Interested parties are encouraged to contact Phil Bidro at 312-546-9800 or Pbidro@marcofinancial.com.
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Know someone available for work in Accounting & Finance?
Send us your referral and receive $200 when they complete the contract or if hired on a permanent basis.
Email your recruiter at Marco & Associates or call us at 312-546-9800.
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