Five Common Questions About Flexible Spending Accounts
1. What is an FSA? An FSA is an employer sponsored plan that allows employees to voluntarily put aside pre-tax dollars to pay for eligible out-of-pocket medical expenses, i.e. co-pays, deductibles, and uncovered expenses. An eligible employee makes an election at the beginning of the plan year (within plan guidelines). This election is deducted from [...]
ECONOMIC RECOVERY IN 2010??——–I THINK NOT!!!!
As I listen to the media and economists, I keep hearing we are in the recovery stage. As I look around and listen to my clients and business associates, I get a different picture. I like to think of myself as a realist not a pessimist. Business owners are very uncertain about the future and [...]
Four Myths of Business Valuations
Myth #1: Should only be done when sold This is not true because a business valuation is a basis for most estate planning if you or your spouse owns an interest in a business. The valuation will also provide a basis for a gifting of interests to children if that is part of your plan. [...]
Confusion amid numerous tax law changes
With all the new tax regs enacted over the past two years, CPAs have to keep on their toes. Just the other day a client complained to me that his health care premiums are about to be taxed. Not so. He was misled by a provision in the 2010 Health Care Act that states the [...]
Why Blog? To Make a Difference
Why Blog? To Make a Difference I have long believed we should each ask ourselves one question every day: “Why am I doing what I’m doing?” The purpose, of course, is to ensure we’re making the best use of our time and, above all, providing maximum value to our clients. In keeping with this core [...]
