Health Reform Passes – Penalties are “Taxes”

by | Jun 30, 2017 | Best Business Helps | 0 comments

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How To Develop Your Skill For Great Success And Happiness Including Become CPA? | Additional special tips From Admin

Skill level Development might be the number 1 necessary and primary component of reaching genuine success in virtually all careers as you experienced in all of our contemporary society together with in Around the world. So privileged to focus on together with everyone in the soon after about whatever good Competence Development is; ways or what means we operate to achieve hopes and dreams and in the end one may function with what individual delights in to perform just about every single time of day just for a extensive everyday living. Is it so amazing if you are capable to cultivate successfully and locate accomplishment in just what exactly you believed, focused for, self-displined and been effective hard each individual daytime and surely you become a CPA, Attorney, an manager of a massive manufacturer or even a health care provider who are able to remarkably make contributions awesome assistance and valuations to many others, who many, any contemporary society and community absolutely shown admiration for and respected. I can's believe I can guide others to be leading specialized level exactly who will lead important answers and relief values to society and communities nowadays. How content are you if you turn out to be one just like so with your very own name on the title? I get arrived on the scene at SUCCESS and rise above virtually all the tough parts which is passing the CPA examinations to be CPA. What's more, we will also handle what are the disadvantages, or various problems that is perhaps on your current means and just how I have privately experienced all of them and should indicate you learn how to cure them. | From Admin and Read More at Cont'.

In the Supreme Court’s 5-4 decision allowing most of the Affordable Care Act to stand, Justice John Roberts interpreted “fees” levied on individuals who choose not buy something (in this case health insurance) as a tax and not a penalty.  If such a fee is, in fact, a tax (and not a penalty), Justice Roberts reasoned, it falls within the scope of congress’s constitutional authority. 

Although such an interpretation may have profound legal and social implications, those of us in the tax profession are waiting to see if the IRS shares Justice Robert’s sentiment: Will this “penalty/tax” be a deductible business expense or a nondeductible penalty?  Many taxes such as the employer’s share of social security and Medicare are deductible.  Penalties for a violation of law or legal “mandate,” however, are generally not.

Professionals who had taken a wait-and-see posture regarding the Act’s constitutionality are also starting to dig into the details of the Affordable Care Act.  This article will share a few uncovered details that may impact you and/or your business in 2013.  It will also discuss the penalty/tax scheduled to begin in 2014.

2013

2014: The Penalty/Tax Kicks In:

This article has highlighted a few of the major tax changes created by the Affordable Care Act for 2013 and 2014.  This article (or any article) should not be relied upon to make tax or financial decisions.  If you would like assistance regarding a particular tax issue or have a question regarding how Health Care Reform may impact you and/or your business’s tax obligations, please feel free to contact our office to consult with a tax professional.

 

 

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Health Reform Passes – Penalties are “Taxes”

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