Because of the health care law, you might receive some new forms this winter, providing you with information about the health coverage you had or were offered in 2015. Much like Form W-2 and Form 1099, which include information about the income you received, these new health care forms provide information that you may need when you file your individual income tax return. Also like Forms W-2 and 1099, these new forms will be provided to the IRS by the entity that provides the form to you. Depending on your situation you may be receiving one of the following:

Form 1095-B, Health Coverage

Form 1095-C, Employer-Provided Health Insurance Offer and Coverage

Form 1095-A, Health Insurance Market Place Statement

All forms will include information about who was covered and when. You could receive more than one of these if you were covered by multiple providers, worked for more than one employer that offered coverage, or enrolled for the market place for part of the year and received covered from another source for the rest of the year.

 

With 1099 filings wrapping up, it is the perfect time to reflect on the 1099 forms you issued in

The Internal Revenue Service recently updated its 20-question rule. The new checklist is on the IRS website.

2015 and to revisit the employee vs. independent contractor rules. Perhaps you actually have employees that you are treating as independent contractors? 

Two major factors that help employers distinguish between the two classifications are permanence and economic dependence. Find more clarity on this topic at www.cpapracticeadvisor.com.  If you have any questions, please contact Pam Brackeen at pbrackeen@sdkcpa.com or 612-332-9315.

Cisco WebEx:

Out of the office? Running late and about to miss your meeting? Look no further! Cisco WebEx is the perfect way to hold meetings on the go. It allows users to share PowerPoint presentations and documents by simply video chatting. Host and attend meetings, join online events, and attend training sessions - all from your smartphone or tablet. This app makes it easy to stay connected to important meetings, wherever you are! Learn more at www.webex.com.

SDK welcomes a new member to its Forensic Accounting and Valuation Services Group.  David Riley has assisted judges, attorneys and clients for over 30 years with accounting, litigation support, valuations and fraud matters. He also wins the award for most initials after his name. Check out his bio here.

What is your favorite vacation destination?   "Bahamas - I worked there for 3 months"

What is your favorite hobby/sport?  "Tennis and Skiing"

What musical instruments can you play?  "Trombone, bass, and my own vocal chords"

How did you get your name?  "I killed a Giant named Goliath"

What are three adjectives which describe you?  "I'd better ask my wife"

What were your favorite subjects in school? "Economics and Stats"

If you could be any animal what would it be and why?  "One of my cats or dogs - They are so spoiled."

What is your dream job?  "I'm here and it's good!!!"

Check out David's most recent article delving into the topic of a business's goodwill:

1. Teachers - About 1 billion cards are sent on that day every year.
2. Character that leaves sweets for kids - Jack Valentine originates from Norfolk in the UK.
3. California - Most of the roses sold in the USA on St. Valentine's Day are red.
4. Venus - Venus is the Roman version of the Greek goddess Aphrodite.

Source: http://www.triviachamp.com/Valentines-Trivia-Quiz.php