09Oct 2013 by Nancy Smyth No Comments

HANGOUT: QuickBooks & the Affordable Care Act (aka Obama Care)

Live Webinars, QuickBooks Training
The Affordable Care Act (aka Obama Care) seems to be the main topic of conversation these days. We held a very special QuickBooks for Contractors hangout Wednesday October 9th on Google+ dedicated to complying with the requirements of the Affordable Care Act and how QuickBooks can be set up to track the employer contribution so that it will accurately display in Box 12 of your employee's W-2 with the appropriate code of DD. You can watch a recording of the hangout from our YouTube channel Download the slides that are shown in the video.
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30Dec 2011 by Nancy Smyth 1 Comment
Calculating Company Paid Health Insurance & The Affordable Care Act

Calculating Company Paid Health Insurance & The Affordable Care Act

Business Productivity Tips & Training
The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that are in effect and more that will be implemented during the next several years. One of the requirements of the Affordable Care Act that will effect all business owners who provide employee health insurance, is that you now must report employer provided health coverage on Form W-2.  Below is information copied directly from the IRS website. The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan on an employee’s Form W-2, Wage and Tax Statement, in Box 12, using Code DD. Many employers are eligible for transition relief for tax-year 2012 and beyond, until the IRS issues final guidance for this reporting requirement. The amount reported…
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