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Health Care Reform Upheld by Supreme Court

Posted on June 28, 2012 by

The United States Supreme Court this morning issued its long awaited opinion on the Health Care Reform laws enacted back in 2010. In a very complicated decision, the Court upheld the constitutionality of Health Care Reform, including the “individual mandate” which required that by 2014 most individuals must purchase health coverage or face a penalty. […]

2013 Health Savings Account Cost of Living Adjustments

Posted on April 30, 2012 by

The Internal Revenue Service last Friday announced the cost-of-living adjustments for the HSA contribution limits and for High Deductible Health Plan (HDHP) deductibles and out-of-pocket maximums for 2013. HSA/HDHP Requirement  Cost-of-Living Adjustments Limit on HSA Contributions – Self-only HDHP 2012 – $3,100 2013 – $3,250 Limit on HSA Contributions – Family HDHP 2012 – $6,250 […]

Beware of Trademark Renewal Solicitations and Scams

Posted on March 13, 2012 by

Trademark owners today face many challenges, and unfortunately these challenges increasingly take the form of trademark renewal services which often times do not deliver as promised. While obtaining a federal trademark registration has many important benefits to the trademark owner, one downside is that the list of trademark owners is available to the public. Many […]

2012 Standard Mileage Rates

Posted on December 12, 2011 by

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 2012. Effective January 1, 2012, the optional standard mileage rates will remain at 55.5 cents per mile for business transportation, and decrease to 23 cents per mile for […]

Wisconsin Tax Code Amended to Follow Federal Tax Treatment of Coverage of Adult Children

Posted on November 7, 2011 by

Human resources and benefits professionals working for Wisconsin employers will now have one less thing to worry about with respect to Health Care Reform. On Friday, November 4, Governor Scott Walker signed legislation which conforms Wisconsin s tax code to the Federal tax code for purposes of determining the tax treatment of employer-provided coverage of […]

2012 Qualified Plan Cost of Living Increases, 2012 Social Security Taxable Wage Base

Posted on October 21, 2011 by

The Internal Revenue Service has announced the cost-of-living adjustments for the various qualified retirement plan limits. Unlike 2011, 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 2011 – $16,500 2012 – $17,000 $200,000 compensation limit 2011 – $245,000 2012 – […]

IRS Cell Phone Ruling Welcomed by Employers and Employees

Posted on September 16, 2011 by

On September 14, 2011 the Internal Revenue Service issued Notice 2011-72, which gives non-taxable de minimis fringe benefit treatment to employer-provided cell phones (and presumably voice and data plans). Prior to 2010, cell phones were considered “listed property” for IRS purposes, and an employer who provided cell phones to its employees had heightened substantiation requirements […]

IRS Announces Mid-Year Adjustment of Business and Medical Mileage Rates

Posted on June 23, 2011 by

Due to the increases in the cost of gasoline since establishing the 2011 rates last year, the Internal Revenue Service is increasing mid-year the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses. Effective July 1, 2011, the optional standard mileage rates will be 55.5 […]

2012 Health Savings Account Cost-of-Living Adjustments

Posted on May 16, 2011 by

The Internal Revenue Service has announced the cost-of-living adjustments for the HSA contribution limits and for High Deductible Health Plan (HDHP) deductibles and out-of-pocket maximums. Unlike last year, there have been some adjustments in the limits for 2012. HSA/HDHP Requirement  Cost-of-Living Adjustments Limit on HSA Contributions – Self-only HDHP 2011 – $3,050 2012 – $3,100 […]

Will There Be an End to Tax Incentives for Profitable Oil and Gas Companies?

Posted on May 9, 2011 by

On April 29, Senate Finance Committee Chair Max Baucus said he would introduce legislation to end “billions of dollars in tax breaks” for large, multinational oil and gas companies. This movement towards new legislation likely arose from recent announcements of record profits along with high energy consumer costs.   The largest oil and gas companies […]