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November Compliance Recap

Monday, December  10,  2018

November was a busy month in the employee benefits world. The Internal Revenue Service (IRS) extended the due date for employers to furnish Forms 1095-C or 1095-B to individuals, extended “good faith compliance efforts” relief for 2018, and issued specifications for employer-provided substitute ACA forms. The Department of the Treasury (Treasury), Department of Labor (DOL), … Continue reading

Let’s Discuss Tax Relief from Your 199A Deduction

Friday, December  7,  2018

Earlier this week we discussed the Tax Cuts and Jobs Act of 2017 and the limits placed on the deductibility of State and Local taxes for 2018. Now let’s discuss your 199A deduction. For many owners of pass-through entities, the new 199A deduction will generate welcome tax relief in 2018.  If your business qualifies based … Continue reading

There May Be a Simple Solution to Decrease the 2018 Tax Burden Through a Customized Retirement Plan Design

Tuesday, December  4,  2018

The Tax Cuts and Jobs Act of 2017 have limited the deductibility of State and Local taxes for 2018.  As a result, many high earners may be subject to additional taxes this year.  However, there may be a simple solution to decrease the 2018 tax burden through a customized retirement plan design. At Innovative, we … Continue reading

Happier Holidays, the HR Way

Monday, December  3,  2018

Most people, according to a new survey featured in HR Dive, have the greatest sense of belonging in their own homes. That may not be surprising news, but what is interesting is that one-third of respondents felt the greatest sense of belonging in their workplace. A significant percentage, 40 percent, attribute that feeling to actions their … Continue reading

ACA Extensions Announced

Friday, November  30,  2018

Yesterday afternoon, the IRS released Notice 2018-94, which announced an extension of the 2019 deadline for insurers and employers to furnish forms 1095-B and 1095-C to individuals. These forms, originally due January 31, 2019 are now due March 4, 2019. Although the furnishing deadline has been extended, the IRS has not extended the deadline for … Continue reading