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 | Suzanne LoBiondo, CPA
516-791-1303
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 | Chris Cheeseman, CPA
516-791-1303
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Dear Clients and Friends,
The September 15 tax deadline for extended business returns has come and gone. Personal tax returns on extension are due October 15, so for those of you who still have not filed, please contact us and provide your information so we can complete your return.
We've had a staffing change here at C&L. While we were sad to say goodbye to Nancy Mauro, who had been with us for almost four years, we are happy to welcome Doli Taveras to our team. Doli worked with us at our former CPA firm and she will be a great asset to us. We know you will enjoy working with her.
Very truly yours,
Suzanne LoBiondo and Christopher Cheeseman
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| Many Employers Need to Notify Employees About Marketplace for Insurance | |
Under the Affordable Care Act, many employers must notify their employees about the Health Insurance Marketplace.
If your company is covered by the Fair Labor Standards Act (FLSA), it should provide a written notice to its employees about the Health Insurance Marketplace by October 1, 2013, but there is no fine or penalty under the law for failing to provide the notice.
The notice should inform employees:
- About the Health Insurance Marketplace;
- That, depending on their income and what coverage may be offered by the employer, they may be able to get lower cost private insurance in the Marketplace; and
- That if they buy insurance through the Marketplace, they may lose the employer contribution (if any) to their health benefits
The U.S. Department of Labor has two model notices to help employers comply. There is one model for employers who do not offer a health plan and another model for employers who offer a health plan to some or all employees. These notices are available on the DOL website at http://www.dol.gov/ebsa/healthreform/.
Your company is covered by the FLSA if it meets one of the following definitions:
- A Federal, state, or local government agency
- A hospital; or an institution primarily engaged in the care of the sick, the aged, or the mentally ill or developmentally disabled who live on the premises; (it does not matter if the hospital or institution is public or private or is operated for profit or not-for-profit)
- A pre-school; elementary or secondary school or institution of higher learning (e.g., college); or a school for mentally or physically handicapped or gifted children (it does not matter if the school or institution is public or private or operated for profit or not for profit)
- A company/organization with annual dollar volume of sales or receipts in the amount of $500,000 or more
However, some employees are exempt from the law's overtime pay provisions, both the minimum wage and overtime pay provisions, and/or child labor rules.
More details can be found on the DOL website or at http://www.healthcare.gov.
If you think this requirement may apply to you, or if you have any questions, contact us at 516-791-1303 or info@clcpasllp.com.
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C&L Tax and Accounting Services LLP is a boutique CPA firm that specializes in meeting the tax and accounting needs of individuals and small businesses. Our experienced tax and accounting professionals offer clients insightful and strategic tax planning and compliance services that maximize savings year after year.