Two Provisions of Health Care Reform Recently Repealed

Over the last couple of weeks two separate provisions of the Health Care Reform Act (PPACA) have been repealed.  On April 14, 2011, the first provision of the PPACA to be repealed was the onerous expansion of 1099 reporting. This provision would have made it mandatory for businesses to significantly expand their reporting of 1099s to any vendor they pay …

Written By: Jake Stratton

Preparing For an Emergency – what you should know!

Every day we are faced with potential emergencies.  Car accidents on the interstate, tornadoes, fires, emergency health developments, etc.  As a business owner, it is your responsibility to provide a safe environment and plan for how to respond in a crisis.  Training your employees and making clear what the expectations are may just save a life should the situation arise. …

Written By: Eugena Bellamy

Onboarding – Tips for successfully integrating your new employees.

You’ve hired your employee and they start tomorrow.  That’s all you have to do, right?  Technically, you could.  Not considering all of the requirements surrounding payroll, taxes, State and Federal regulations etc., any business could follow this approach.  However, engaging your employees and following a procedure to ensure they get off to a great start will increase the probability of …

Written By: Eugena Bellamy

Building your Board of Advisors.  Six key people that should be a part of your trusted team.

All small business owners need a team of trusted advisors to help them manage their operations and make decisions that will achieve success.  The following are recommended experts that you should make a part of your Board of Advisors: 1. CPA/Accountant.  Whether you do your accounting in-house and use an outside source for review only or you rely heavily on …

Written By: Eugena Bellamy

Health Alert – Salons

OSHA has issued a health warning for all individuals who work in the hair salon industry.  Recent investigations have uncovered that several popular hair smoothing and straightening products contain formaldehyde.  Air tests conducted have shown levels at higher rates than allowed for salons.  In some cases, tests were positive for formaldehyde even with product labels claiming to be formaldehyde-free. Exposure …

Written By: Eugena Bellamy

Periodic Report Filing – Don’t Pay More Than You Need To!

This week, thousands of business owners received an official looking document requesting $225 along with a required form to file a report with the Colorado Secretary of State’s Office.  This notification was sent by Nevada-based Corporate Controllers Unit, Inc. and threatened non-compliance and delinquency penalties if you did not comply.  We have heard of many individuals who have paid the …

Written By: Eugena Bellamy

IRS Releases Rules on W-2 Health Insurance Reporting

The Internal Revenue Service has recently issued a notice providing interim guidance on how businesses should report to employees their employer-sponsored group health plan coverage amounts as required under Section 6051(a)(14), enacted as part of the Affordable Care Act.  Notice 2011-28 is valid for all employers who sponsor a group health insurance plan offered to their employees. In general, employers are required …

Written By: Jake Stratton