Events
Patient Protection and Affordable Care Act
and HIRE Act Lunch Event
NOTE: This event is no longer taking registrations!
Beason & Nalley will be hosting lunch a event to discuss the Patient Protection and Affordable Care Act (Health Care Reform) and the HIRE (Hiring Incentives to Restore Employment) Act and what you need to know now. Learn the immediate impact on you and your clients and how to plan for upcoming changes.
Overview
The Patient Protection and Affordable Care Act is a landmark health care reform package that has both immediate and far-reaching tax implications affecting almost all individuals and businesses. Signed by the President on March 23rd and subsequently “fixed” by Congress through a Reconciliation Bill, the Patient Protection and Affordable Care Act and the companion Health Care Reconciliation Act contains over $400 billion in revenue raisers and new taxes put in place to help finance the expansion of insurance coverage, plus credits and other assistance to help offset the costs of insurance for individuals and small businesses.
Given the wide-ranging aspects of the Act and the varying timetables for implementation, it is critical to start developing your understanding now and building the right approach and changes necessary as the new laws become effective. Also, there are many specific tax changes affecting individuals that fall outside the spotlight that’s been on many of the employment-related provisions including changes to medical expense deductions, coverage for adult children and expansion of adoption assistance. In addition, we will be discussing the HIRE (Hiring Incentives to Restore Employment) Act and what employers are eligible for and need to do. We will also provide information on what is a qualified employee, the Retention Credits and Section 179 Deductions that are available.
Beason & Nalley is hosting three lunch events that will provide a practical review of the health care legislation and will bring you up to speed on the tax changes you need to know that have just been enacted. Presented by tax expert Donald W. Nalley, Jr., CPA, CVA, ABV, ASA, and other Beason & Nalley professionals, this discussion will examine the many important changes that you must know and understand and will explain how the new provisions affect you individually and your company. Beason & Nalley will also give you important practical pointers and suggestions on how to best take advantage of new opportunities created by the new provisions.
Program Topics
Here are some of the topics that will be covered in the seminar:
- Premium assistance tax credit for certain low-income individuals
- Penalty for individuals without minimum coverage
- Increased medical expenses itemized deduction threshold (10% of AGI)
- Additional Medicare tax on higher-income individuals’ earned and investment income
- Unearned income Medicare contribution tax of 3.8% on net investment income
- Expanded applicability of the adoption credit and adoption assistance programs
- Changes to distributions from FSAs, HSAs and MSAs
- Penalty on large and mid-size employers who fail to provide minimum essential coverage
- Small employer tax credit to offset employer-provided coverage
- 40% excise tax on high-dollar “Cadillac” plans
- Additional reporting requirements for employers, including changes to Form W-2
Learning Objectives
Understand the immediate provisions of the Patient Protection and Affordable Care Act and HIRE Act and the planning opportunities that are available
Who Should Attend?
All taxpayers, business owners, chief financial officers, human resource managers and others that may be impacted by law changes.
Speakers:
Donald W. Nalley, Jr., CPA, CVA, ABV, ASA, Director, and other Beason & Nalley professionals will provide attendees with all the necessary information they need to help their clients take advantage of any valuable credits and incentives.
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