| Health Care Special Edition |
Greetings!
The U. S. Supreme Court has upheld the constitutionality of the 2010 health care reform legislation, including its linchpin individual mandate that requires individuals to pay a penalty if they fail to carry minimum essential health insurance. What does this mean for you and your company? Hopefully, we can help shed some light on the questions. And, if you still have questions, please don't hesitate to contact your CPA.
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Health Care Reform Legislation
The U.S. Supreme Court on Thursday declared the mandate in Sec. 5000A, requiring U.S. citizens and legal residents to maintain minimum essential health coverage, to be a permissible exercise of Congress's taxing powers under the Constitution.
So what does this mean for you?
- Individual mandate to take effect starting 2014
- All tax provisions upheld
- Penalty on states for refusing expanded medicaid unconstitutional
- Premium assistance tax credit to help offset cost of coverage
- Limits on health FSAs and other arrangements continue
- Small employer health insurance tax credit preserved
- Codified economic substance doctrine sustained
Those are the highlights, but there are plenty of other details involved in the new legislation.
For additional articles, click here (CCH) and here (JOA) |
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Linkenheimer Receives Gold Medal Award for Best Accounting Firm in the North Bay
Linkenheimer was recently voted as Best Accounting Firm in the North Bay for 2012 by the readers of the North Bay Biz. The magazine received over 55,000 votes in 39 different categories with almost 1,000 companies receiving votes. The Gold Medal Award is the second time in the past three years Linkenheimer has been voted Best Accounting firm in the region.
We'd like to thank the readers, clients, friends, and family for allowing us to serve you for the past 80 years. And, we look forward to continuing the development of relationships in our community for many years to come. |
