Cloudy with a Chance of Sales Tax in the DC Metro Area

The taxation of cloud computing services is an evolving area of sales and use tax.  Cloud computing, which includes a wide variety of service offerings, generally allows businesses the potential to reduce IT costs by outsourcing hardware and software maintenance and support.  Still, remote access to software, or “software as a service” (SaaS), is only a small part of what is referred to as “cloud computing.”  The term also includes offerings such as Continue reading »

New Roth Conversion Provisions in 401(k) Retirement Plans

The legislation to avoid the “Fiscal Cliff” did not spawn widespread retirement plan changes as many had feared. However, there is a minor change related to Roth conversions in eligible retirement plans. 401(k) plans that allowed for Roth 401(k) contributions also allowed for the conversion of participant accounts to Roth accounts, but only if the participant had a distributable event. Such events are typically termination of employment, reaching normal retirement age, reaching early retirement age, permanent disability, death, or attainment of age 59 ½. Under the new legislation, participants can Continue reading »

Affordable Care Act (ACA) Guidance Has Finally Begun

On November 20, 2012, Affordable Care Act guidance was issued in the form of over 300 pages of proposed regulations. The guidance is broken into three parts: 1) requirements for essential health benefits, actuarial value, and other exchange related requirements; 2) various market reform initiatives; and 3) regulations related to employee wellness programs.

At this time, the proposed regulations related to the exchange requirements, as well as the market reform initiatives, will be more meaningful to industry practitioners. The proposed regulations related to wellness programs will be of greatest interest to employers.

In general, as of January 1, 2014, health plans will not be able to underwrite based on health status. Wellness programs have been granted a limited exemption. The maximum allowable reward under a wellness program as part of a group health plan has increased from twenty to Continue reading »

Form 5500 Filing Relief for Plan Sponsors Impacted by Hurricane Sandy

The IRS announced it is granting relief to benefit plan sponsors affected by Hurricane Sandy. This relief also includes plan providers whose services impact the filing of Form 5500. In general, plans in the affected areas will have until November 7, 2012 to file returns that otherwise would have been due October 31, 2012.

Relief is automatic, with no action required by plan sponsors. In the event a notice for delinquent filing is received, then the impact of Hurricane Sandy should be referenced in the plan sponsor’s reasonable cause statement.  As additional details emerge regarding the storm’s impact, additional filing relief Continue reading »

Affordable Care Act-Required MLR Rebates Have Started to Arrive

As a result of the Affordable Care Act (ACA), some employers that sponsor group health plans have begun receiving Medical Loss Ratio (MLR) rebates from their health insurance carrier(s). Upon receipt of these rebate checks, employers have some decisions to make: Continue reading »

Supreme Court Upholds the Affordable Care Act

On June 28, 2012, the Supreme Court narrowly voted to uphold the majority of the Affordable Care Act (“the Act”). In the end, the basis for the decision was the federal government’s authority to tax. Under the Act, certain individuals that do not elect health insurance coverage must pay a financial penalty. This is commonly referred to as the Individual Mandate component of the Act. Five of the justices agreed that, while President Obama has taken great care to stay clear of the word “tax” in his healthcare reform efforts, such a financial penalty may reasonably be characterized as a tax. While the “tax” versus “penalty” debate makes for good TV, it remains to be seen how relevant it is to the overall healthcare reform debate. Surely from now until the Presidential election in November, the Democrats’ position Continue reading »

Your Dog Wants to Walk With the Nonprofit Ninjas This Saturday

WALK FOR THE ANIMALS – THIS SATURDAY, May 12^th

in Bluemont Park (329 N. Manchester Street, Arlington, VA 22203). Registration opens at 8:30am and the walk begins at 9:30am.

To raise funds for the Animal Welfare League of Arlington.

Proceeds from this year’s event benefit all of the homeless pets in our shelter and all of the animals in our community. Every dollar counts.
What does my money go towards?
-> $25 will cover the cost of 1 heartworm test for a shelter dog
-> $50 for 4 shelter cats or dogs to be microchipped
-> $100 will cover the cost of 2 cat spays/neuters or 1 dog spay/neuter

PLEASE CLICK HERE to register to walk with the Aronson Nonprofit Ninjas or donate!

Nonprofit Ninjas are at it again!

The Aronson Nonprofit Association Industry Services Group, a.k.a. the Nonprofit Ninjas are working on another fundraiser. We will be fundraising and participating as a team in the 17th Annual Walk for Animals to benefit the Animal Welfare League of Arlington. The walk is May 12th, dogs and people invited!

The money will help:

• $25 covers the cost of 1 heart-worm test for a shelter dog
• $50 covers the cost of 4 shelter cats or dogs being micro-chipped
• $100 covers the cost of 2 cat spays/neuters or 1 dog spay/neuter

The League provides temporary care and refuge for homeless and suffering animals and works to place them in suitable homes.

If you’d like to donate or join our team in the effort and be a nonprofit ninja, please click here!

Employee or Independent Contractor? That’s the Question in California and Everywhere Else

A business owner’s hiring of a worker as an employee has real costs beyond the wages paid to the employee. Such costs range from hard costs (e.g., payroll taxes, unemployment, health and disability insurance, etc.) to costs such as compliance with the regulatory requirements of having an employee, along with the added administrative burdens of payroll and a human resource department. In a perceived cost savings measure, some business owners have been tempted to hire workers and treat them as independent contractors. Nonetheless, the decision to designate a worker an “independent contractor” as opposed to an “employee” is not one without consequences that demand careful Continue reading »

The it Award – Apply Now!

C.Fox Communications is still accepting applications for its 2012 it Award–worth up to $30,000 in pro bono PR services!  The application is only available until February 29th.

The it Award is open to any United States-based nonprofit with 10 or more employees and there is no fee to enter. You just need to tell them why your organization should be it.

You can apply here.

If you’ve looked at the application and have questions, join C.Fox Communications for a conference call Thursday, February 23, at 3 p.m. They’ll be answering questions and giving advice about completing the application. Please RSVP to Julia@cfoxcommunications.com.

Do you know an organization worthy of the award?  Pass along these details, and feel free to reach out to C.Fox Communications at itaward@cfoxcommunications.com with any questions during the application process.