Tax News & Views

 INSIGHTS FROM OUR NATIONAL TAX OFFICE

SEPTEMBER 1, 2015 

In Case You Missed It
 
Below are short reviews of various tax information items Eide Bailly has recently published. To read more, click the "Learn More" link shown after each summary.
 
ACA Reporting Requirement: Start Planning Now
While December 31, 2015, is still some five months away, that date will bring a new specialized Affordable Care Act (ACA) reporting requirement for large employers, defined under the ACA as those with 50 or more full-time equivalent employees, including smaller employers that reach the 50 or more level due to consolidation or being part of a larger controlled group, and employers with self-funded insurance plans. Learn More.
 
Temporary Highway Bill Funded with Permanent Tax Changes
On July 31, President Obama signed into law the "highway bill," officially The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, which provides approximately $8 billion of additional funding for highways and mass transit through October 29, 2015. Certain permanent tax provisions are included in the highway bill that are designed to raise revenue to partially offset the funding requirements of the legislation. Learn More.
 
Potential Tax Benefits for Minnesota School Supply Purchases
Back-to-school shopping is a task that is often dreaded by students and parents alike. While it's hard for kids to shake off that end-of-summer blues, Minnesota parents can be comforted by the potential tax benefits available if they save the receipts from purchasing school supplies. These benefits include the K-12 Education Credit, which has income limit stipulations, and the K-12 Subtraction, which does not have any income limits. Learn More.
 
The Future of Data Protection & Security
By 2020, both the cost and regularity of cyberattacks will only increase as the number of connected devices increases. In preparing for 2020, you can expect the cost, time and effort of protecting your company's data to increase exponentially. Here are three considerations to keep in mind. Learn More.
 
Calculating Fraud Loss: What Am I Forgetting?
The big question on everyone's mind after a fraud has been discovered is "how much did they take?" But identifying fraud and determining the true loss can be difficult and challenging, even tricky. In many fraud litigation cases, the loss extends beyond the actual dollar amount appropriated and results in additional economic damages, including some hidden costs you may not realize at first. Learn More.

Eide Bailly's National Tax Office serves as a resource for clients to help analyze complex tax issues related to business decisions. Our professionals are committed to helping clients stay informed about tax news, developments and trends through various specialty areas, including cost segregation studies, wealth transfer, state and local taxation, international tax, IRS controversy and procedures, R&D tax incentives, tax-exempt organizations, tax legislation, accounting methods and pass-through entities.

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This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Eide Bailly LLP and the author do not assume responsibility for any individual's reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique before recommending the technique to a client or implementing it on the client's behalf. To request reprints of this publication, send a written request to RequestReprints@eidebailly.com. © 2015 Eide Bailly LLP.