Dear Valued Client,

This edition of our client newsletter includes the latest on Health Reimbursement Plans, retirement IRA distributions and much more.

Our goal is to provide you an unparalleled level of client service. If you see something that you want to talk about, please contact us to explore the possibilities. We rely on satisfied clients as the primary source of new business, and your referrals are both welcomed and most sincerely appreciated!

 


Mueller & Company , LLC

Beware of Draconian Penalties for Health Reimbursement Plans


Beginning in 2015, large employers (those with 100 or more full-time equivalent employees) must begin offering health insurance coverage to their employees. Then, in 2016, employers with 50 or more equivalent full-time employees must do the same or face penalties, called the “large employer health coverage excise tax.”
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Now That Same-Sex Marriage Is Legal In All States, What Are The Tax Implications?


On June 26, the Supreme Court ruled that the Fourteenth Amendment to the Constitution requires all states to license marriages between two people of the same sex and to recognize same-sex marriages performed in other states. This comes approximately two years after the Supreme Court overturned the Defense of Marriage Act (DOMA) enacted by Congress and signed by then President Bill Clinton. DOMA defined marriage as "legal union between one man and one woman as husband and wife." 
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Planning Your RMD and IRA Distributions For 2015


We spend most of our lives saving for retirement by putting funds away in tax-advantaged ways.  But many of us forget about planning the withdrawals so that they are tax advantaged as well.
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Plan for the Potential IRA-to-Charity Provision Extension


If you are 70.5 or over, have not taken all or any of your 2015 required minimum distribution (RMD) from your IRA, and plan to but have not yet made a significant charitable contribution, here is a tip that could save some tax dollars.
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Preventing Tax Problems When Employees Travel


Sending employees on business trips is essential for countless companies and can result in tax headaches for both the employer and the employee if the tax regulations are not adhered to. If the rules are followed, the cost of the employee’s travel will be fully deductible to the employer, with the exception of meals, which are only 50% deductible, and tax-free reimbursement to the employee. In addition, the reimbursement is not subject to FICA or payroll withholding.
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Receiving Social Security Can Be Taxing


Generally, your Social Security (SS) benefits are not taxable until your modified adjusted gross income (MAGI) is more than the base amount for your filing status. MAGI is your regular AGI (without Social Security income) plus 50% of your Social Security income plus tax-exempt interest income plus certain other infrequently encountered modifications.
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Tips To Reduce Payroll Stress


When you hire your first employee, you create an entire new task of complying with employment and labor laws and issuing a payroll. Payroll taxes create more administrative burden for small businesses than any other tax, according to the 2015 Small Business Taxation Survey from the National Business Association.
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The Mueller & Company , LLC newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - Mueller & Company , LLC, go to http://www.davemuellercpa.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.

Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
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Mueller & Company , LLC
David Mueller
Phone: 410-893-1901
Email
www.davemuellercpa.com

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