FAQ on the ACA Forms and Deadlines

We have been receiving a lot of questions in our office about the ACA forms due October 1 to be distributed to all employees.  We would like to take a moment to answer those questions and others with our own FAQ on the ACA forms and deadlines: 1. Do these forms need to be distributed …


Healthcare Reprieve for Small Businesses

For years now one of the biggest fears with the Affordable Care Act has been that people might see delays in service due to higher volumes of patients.  Instead we are seeing a much more welcome delay: a delay in the implementation of penalties for businesses who don’t comply.  The Obama administration has given a …


TD 90-22.1 Deadline Shouldn’t Be Missed

Tax penalties for late filing can be pretty hefty.  However, the potential penalties for not filing one recently created form can be as much as $250,000 and up to five years in jail.  That’s why the TD 90-22.1 deadline shouldn’t be missed.  At this point you may be asking yourself just what is a TD …


Form 1099-K Is Back

Like a sequel to a cheesy horror flick, Form 1099-K is back and you may see one coming to a mailbox near you.  Don’t panic, just send it to us.  Form 1099-K is used by third party merchant services companies, such as American Express or Paypal, to report your credit card receipts for the year …


IRS Simplifies Home Office Deduction for 2013

While most things having to do with taxes and the IRS tend to go from simpler to more complex, occasionally the IRS does something to make our lives easier.  In this case, the IRS has simplified how we can calculate the Home Office Deduction.  Rev. Proc. 2013-13 outlines a safe harbor calculation to replace the …


Fiscal Cliff Deal Reached

Late at night on New Years day, Congress voted to approve the Fiscal Cliff deal worked out by the Senate late the night before.  In a last minute vote, Republicans were able to add enough votes to pass the bill and send it on to the President.  The result of the deal is an extension …


A New Definition of Full-Time

One of the aspects of the Patient Protection and Affordable Care Act that is set to go into effect in 2014 is the additional penalty tax on businesses who do not offer affordable health insurance and have 50 or more full-time employees.  As a result of this pending implementation, many larger businesses are working now …


GunnChamberlain, PL Merger News

In an effort to provide you with the best and most comprehensive services, Chamberlain & Associates, PA has merged with Gunn and Company, PA to form GunnChamberlain, PL.  Our new contact information is as follows: GunnChamberlain, PL 4350 Pablo Professional Court, Suite 200 Jacksonville, FL 32224 p: 904-296-2024   f: 904-296-0054 You can also reach …


Hurricane and Contingency Planning

Hurricane season started early this year.  Unlike most hurricane seasons, this year has been especially active for Jacksonville, Florida.  However, whether it is a hurricane, snow storm, flood, lightning, or simply aging equipment, businesses should assess their hurricane and contingency planning strategies, and how they can preserve their documents and records in the case of a …


How Will the Healthcare Act Affect Me?

The Affordable Care Act has been ruled constitutional, but Congress’ ability to take Medicaid away from states who refuse to implement the voluntary portions of the act is not.  Many of you are wondering now how this will affect you.  Click here for a list of the tax increases and benefits written in to the …

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