Bennett Thrasher LLP is pleased to welcome Gus Hernandez, CPA, as a Partner in the firm’s Audit practice. Hernandez has more than 27 years of public accounting experience assisting privately-held and publicly-traded companies with accounting, financial reporting and internal controls. He assists organizations with management of business and technology risks, and with improving the effectiveness of finance operations, including Sarbanes-Oxley readiness and compliance.
Partner Jerry Weil provided expert comment to AARP on forming LLCs for its July 19, 2013, Life Reimagined article, “Forming An LLC? 5 Questions To Ask.” The article discusses the popularity of limited liability companies (LLCs) among entrepreneurs because of the separation it creates between the owner and the business, and because it also offers flexibility for tax purposes. Weil says, “An LLC is probably the default recommendation because it is so flexible.”
public accounting and consulting firms, is pleased to report that The Educational Foundation of The Georgia Society of CPAs (GSCPA) has announced the recipients of the 2013 Bennett Thrasher Endowment scholarships awarded by the Board of Directors of The Educational Foundation.
Last month, we waded through the provisions of the Patient Protection and Affordable Care Act (PPACA) on how to count to 50 employees. Now that we understand how the Internal Revenue Service defines an “applicable large employer,” we will review the two instances that an employer may be subject to an accessable payment, i.e., penalty, within the provisions of the PPACA.
The American Taxpayer Relief Act of 2012 (ATRA) was passed by the United States Congress on January 1, 2013 and signed into law by President Obama on January 2, 2013. ATRA averted critical tax effects of the potential “Fiscal Cliff.” A new marginal tax rate of 39.6% has been enacted as the top tax bracket for Single Individuals ($400,000), Married Filing Joint ($450,000), Married Filing Separate ($225,000) and Head of Household ($425,000).
Over the last several years there has been significant growth in the utilization of captive insurance companies. There are several types of captives including pure or single-parent captives, group captives and other structures, including association captives, segregated cell captives and risk retention groups. A pure captive can be either a large or a small captive. Small captives are sometimes also referred to as micro captives.
The bar for appraisal reports in the estate and gift tax area that will withstand IRS scrutiny continues to rise according to a webinar presented by Michael Gregory, a former IRS executive with over 28 years of experience in this area.
Although traditional 401(k) plans have become widespread, many employers are adding Roth 401(k)s to their employee benefits.
The deadline is fast approaching for the payment of plan fees to fund patient-centered outcomes research that were created under the Patient Protection and Affordable Health Care Act (ACA). Issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans are required to pay the fee by July 31.
Perspectives is a Bennett Thrasher women’s leadership initiative launched in early 2012; the program focuses on developing leadership and growth opportunities for women, promoting camaraderie and unity among the women of the Firm, sharing of thoughts and ideas and learning from one another.
The Department of Health and Human Services (HHS) Office of Inspector General (OIG) recently released its Semiannual Report to Congress for the six month period ended March 31, 2013. The OIG’s core mission is the protection of HHS programs and their beneficiaries, which include the Medicare and Medicaid programs.
Over the past decade captive insurance companies have gained significant exposure both domestically and abroad, but lately it seems that everyone is talking about captives. It is likely that you have heard your colleagues or business associates discussing the pros and cons of forming a captive.