IRS – ACA Information Returns May Continue To Be Filed After June 30, 2016

ACA Information Returns

As per the deadline given by the IRS – for all Applicable Large Employer (ALE) and Self-Insured Employer, the last date for e-filing ACA information returns is midnight June 30, 2016.

For all those who couldn’t submit the information by June 30, 2016, it is important for them to know the following –

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2016 Rules for Tax Expensing and Depreciation

Tax Expensing and Depreciation

Capitalization of costs is the usual practice that any business has to follow when they buy an asset which is supposed to render service for more than a year (usually for fixed assets). In simple terms, that means the cost of the asset is written off in the balance sheet over a number of years. There are rules and laws of depreciation & amortization in place on how to do this actually and it depends on the type of asset acquired.

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Checkmark Payroll 16.0 is Now Live with Additional Features

Checkmark Payroll 2016

The latest update of Checkmark payroll software 16.0 is full of new enhancements ensuring employers process payroll effortlessly. We release updates annually based on the feedback provided by thousands of small business owners using Checkmark payroll software.

Here’s a quick rundown of all the recently added features of Checkmark payroll software 2016.

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CheckMark, Inc. Recognized Among Top 10 Accounting Solution Providers in 2016 by CFO Tech Outlook

Top 10 Accounting Solution Providers

CheckMark is pleased to announce that we have been recognized as one of the Top 10 Accounting Solution Providers in 2016 by CFO Tech Outlook Magazine, one of the most popular technology & business magazines in the finance sector. The awards recognize the very best accounting solutions in the finance industry that are not only efficient but are also affordable and reliable.

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5 Must-Know Obamacare Obligations for Every Entrepreneur

Obamacare

Obamacare or ACA compliance is real, it’s complicated and it’s here to stay. Business owners today face a new challenge to be at par with ever changing rules and their interpretations and to also act accordingly to track and report to the IRS.

Below we present a couple of factors that are a good start for analyzing the current status of a business owner in terms of liability towards ACA.

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Health Insurance Providers Must Report Certain Information to the IRS and Covered Individuals

Health Insurance Providers

With the new directives from the IRS, providers of minimum essential coverage are required to report certain information not only to the individual about their health coverage but also to the IRS, starting 2016.

To stay in-line with the individual shared responsibility criteria Taxpayers use the information stated in Form 1095-B, Health Coverage Information Return Form 1095-C, Employer-sponsored health offer and coverage whenever they file their tax returns. IRS would use this information to ascertain the number of months the individual has health coverage.

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