Margida & Associates, Inc. - Certified Public Accountants serving small businesses and individuals in Akron Canton and Hudson since 2000.

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Free Guide on Healthcare Reform for Small Business Owners

While healthcare reform has stayed in the news quite a bit over the past few months, especially as it related to the government shutdown, many small business owners don’t really understand what to make out of the law, its changes, and what it all really means.

The Patient Protection and Affordable Care Act, known variously as the Affordable Care Act or Obamacare, was enacted in 2010, had its individual mandate upheld by the Supreme Court in 2012, but has had its employer mandate delayed until 2015. That means that now’s the perfect time to really learn more, and there’s currently a special comprehensive guide, available for free online from an experienced small business accountant, which can help clear up all lingering questions and concerns.

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This guide provides everything that a small business owner will need for tax planning purposes, for understanding the timelines involved, requirements, and more. Here’s a breakdown of the main points:

Background on the Act & The Guide:

  • Get started with some basics about what the Patient Protection and Affordable Care Act actually is.

Coverage Requirements:

  • Begin understanding the basic requirements for access to coverage for employees and what employers must provided.
  • Learn about the employer’s responsibility, and the Small Business Exchange system, as well as the Small Employer Health Care Tax Credit to assist with tax planning and offsetting additional costs.
  • This section also breaks down different changes, effects and requirements based on employers of different sizes and classifications.

Revenue Provisions:

  • Learn about the excise tax on high-cost insurance, and new restrictions on health savings accounts and other savings accounts and spending arrangements.
  • Medicare tax increases for higher income taxpayers and other personal tax planning specifics.
  • Understand new deductions, revenue raisers at different industries, and business-related provisions such as required uniform Summary of Benefits provisions and estimated tax requirements.

Timelines:

  • See all of the key dates involved with the Affordable Care Act, when different aspects of the program become implemented or required, and all other milestones from 2010 through 2018.

There’s certainly a lot to understand with the latest healthcare reform, so don’t hesitate to download and use this entirely free guide today. Of course, working with an experienced small business accountant in Stow, Ohio, is also an excellent way to ensure that everything is done properly, and all potential advantages and avenues are explored, while mistakes are avoided.

Margida & Associates serves as a small business accountant in Stow, Ohio, but also provides personal tax planning services as well. Visit them online at Margida-Assoc.com to learn more about how they can help any business make the right moves with healthcare reform.