For invitations to our events and updates on key legal issues and business concerns:
Please Click HerePosted on January 21, 2013 by Amy E. Ebeling and Mark J. Bradley
After a flurry of last-minute negotiations to avoid the so-called “fiscal cliff,” Congress passed, and President Obama signed, the American Taxpayer Relief Act of 2012. Among other things, it makes permanent the $5 million amount that may be transferred tax-free through a combination of lifetime gifts and transfers at death. For both gift and estate […]
Posted on January 7, 2013 by Ruder Ware Alumni
Physicians can breathe a sigh of relief for at least another year. The “fiscal cliff” legislation that was passed by Congress on New Year s Day and signed by President Obama Wednesday night (January 2, 2013) averted the planned cut in Medicare payments for physicians that were scheduled to take place on January 1, 2013. […]
Posted on January 2, 2013 by Shanna N. Fink
Congress passed the American Taxpayer Relief Act of 2012 overnight. President Obama has not yet signed the bill into law, but he is expected to sign the bill as proposed. The bill proposes some increases in tax rates, but the changes are not as significant as they could have been if Congress had failed to […]
Posted on November 21, 2012 by Mary Ellen Schill
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2013. Effective January 1, 2013, the optional standard mileage rates will increase to 56.5 cents per mile for business transportation, and increase to 24 cents per mile for […]
Posted on November 9, 2012 by Shanna N. Fink
On Tuesday, President Obama was elected to a second term in office. The congressional election results indicate the potential for continuing gridlock between the House of Representatives and the Senate. The election results add to the uncertainty of whether we will return to pre-Bush era tax rates if there is no political compromise before year-end. […]
Posted on November 6, 2012 by Shanna N. Fink
In July 2012, the United States Tax Court reiterated that inherited individual retirement accounts (IRAs) cannot be rolled over. Elizabeth Beech was the beneficiary of her deceased mother s traditional IRA. She received a check from the IRA, opened a new IRA, and deposited the funds from the check into the new IRA. Ms. Beech […]
Posted on October 31, 2012 by Ruder Ware Alumni
Payment for call coverage has become a major issue throughout the country as physicians are increasingly asking for payment for providing call availability. Traditionally, call coverage has been seen as part of the physician’s medical staff obligation. However, physicians are beginning to question traditional “on-call” coverage obligations for a number of reasons, including the fact […]
Posted on October 23, 2012 by Ruder Ware Alumni
It is being reported that the Center for Medicare Advocacy, Inc. has settled its class action lawsuit with the Center for Medicare and Medicaid Services regarding the “improvement standard” that CMS has historically required in order to continue Medicare reimbursement for patients in nursing homes. The “improvement standard” resulted in Medicare coverage being denied in […]
Posted on October 23, 2012 by Steven P. Lipowski
The Federal Trade Commission has long had guidelines concerning the use of “green” or similar claims of environmental benefits to products by advertisers. Recently, these so-called “green guides” were updated for the first time in almost 15 years to reflect the new world of advertising claims promoting green or environmentally friendly products or packaging. […]
Posted on October 18, 2012 by Mary Ellen Schill
The Internal Revenue Service has announced the cost-of-living adjustments for the various qualified retirement plan limits. Almost all of the limits shown below are changed from last year. Qualified Plan Limit Cost-of-Living Adjustments 401(k) and 403(b) elective deferral limit 2012-$17,000 2013-$17,500 $200,000 compensation limit 2012-$250,000 2013-$255,000 $160,000 defined benefit limit 2012-$200,000 2013-$205,000 $40,000 defined contribution […]