Heaven & Alvarez

healthcare

ACA Reporting Requirements for Employers

ACA Reporting Requirements for Employers   The health care law contains tax provisions that affect employers. Two parts of the Affordable Care Act apply only to applicable large employers. These are the employer shared responsibility provisions and the employer information reporting provisions for offers of minimum essential coverage. The size and structure of a workforce …

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Year-End Tax Planning for Individuals

Tax Extenders, Retirement Plan Changes, and Repeals

The Further Consolidated Appropriations Act, 2020, signed into law on December 20, 2019, extended a number of expired tax provisions for business and individuals through 2020. It also included several retirement plan changes and repealed three health care taxes. Here’s what you need to know: Individual Tax Extenders Mortgage Insurance Premiums. Homeowners with less than 20 …

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Elderly Parent or Relative as a Dependent

Claiming an Elderly Parent or Relative as a Dependent

Are you taking care of an elderly parent or relative? Whether it’s driving to doctor appointments, paying for nursing home care or medical expenses, or handling their personal finances, dealing with an elderly parent or relative can be emotionally and financially draining, especially when you are taking care of your own family as well. Fortunately, …

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