by Brian Kelly and Gary Sandford, SMP Consulting Group Do you cringe each time you open an invoice, especially insurance premium notices? State-regulated workers compensation premiums can be confusing and complex. Employee Classification Codes and Rate Modification designations often are hard to understand and the wrong code can cost a company a lot of money. Here is an … [Read more...] about Auditing Employee Classification Codes
Legal / Accounting
Benefits and Burdens of the Domestic Production Activities Deduction
by Michael J. Devereux II, CPA, Mueller Prost PC Enacted in 2004, the Domestic Production Activities Deduction (DPAD)1 is generally nine percent (9%) of a taxpayer's qualified production activities income (QPAI or qualifying income) for the tax year.2 The DPAD is designed to be the economic equivalent of a three percent (3%) reduction in tax rate on qualifying activities. This … [Read more...] about Benefits and Burdens of the Domestic Production Activities Deduction
Medical Device Tax Could Make Health Care Less Affordable
by The Tax Foundation The federal medical device tax, which went into force on Jan. 1, will have an adverse effect on the medical device industry, consumers and the economy according to an analysis by the Tax Foundation. Economist Kyle Pomerleau found the provision represents poor tax policy and should be repealed. The 2.3 percent excise tax on the manufacturers of medical … [Read more...] about Medical Device Tax Could Make Health Care Less Affordable
Payroll Systems Can Help Determine ACA Responsibilities
by Marsha Oliver, CPA, Mize Houser & Company P.A. UPDATE: Obama Administration Delays ACA Employer Mandate The Obama Administration on July 2 announced a one-year delay of the employer mandate portion of the Affordable Care Act, which had been scheduled to take effect on Jan. 1, 2014. The other two key parts of the ACA – the individual mandate and the … [Read more...] about Payroll Systems Can Help Determine ACA Responsibilities
The Guiding Principles of Healthcare Reform
Reprinted with permission from Plante Moran Since the Patient Protection and Affordable Care Act (PPACA) went into effect nearly three years ago, countless hours have been spent on the evaluation, consideration and implementation of more than half of the reform-related initiatives. Perhaps the reform provisions on the horizon, however, will have the greatest impact on an … [Read more...] about The Guiding Principles of Healthcare Reform