TAX PRO PLUS LA

Health Reimbursement Arrangements Approved For Qualified Small Employers

Under the Affordable Care Act (ACA or Obamacare), a health reimbursement arrangement (HRA) is treated as a group health plan, and as such, it has to meet all of the ACA’s market-reform requirements, which is not possible for the typical HRA. Stand-alone HRAs do not meet two key requirements of the ACA in that they:

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GOP Unveils Its Obamacare Repeal and Replace Legislation

On March 6, the House Republicans unveiled their draft legislation that would repeal and replace the Affordable Care Act (ACA). In general, the GOP’s plan would continue the ACA’s premium tax credit through 2019 and then replace it in 2020 with a new credit for individuals without government insurance and those who are not offered insurance by their employer. However, most of the ACA’s insurance mandates and penalties would be repealed after 2015. Other provisions will be overturned periodically through 2019.

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Didn't File in 2013? Last Chance to Get Your Refund

If you have not yet filed your 2013 federal tax return and if you are due a refund on that return, your time is running out! The IRS estimates that more than 1 million taxpayers have not filed their 2013 tax returns and that more than $1 billion of unclaimed refunds are available for those taxpayers. The IRS estimates that these taxpayers will have an average refund of $763. If you fall into this category, you need to act quickly because your 2013 return must be filed by April 18, 2017, if you are to claim a refund for that year. Otherwise, you forfeit your refund, and the money becomes the property of the U.S. Treasury.

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Tax Tips for Uber and Lyft Drivers

As a Uber or Lyft driver, you are currently viewed as an independent contractor and treated differentially under the IRS code. With this comes new rules when it comes to your taxes. Understanding the tax code can help you minimize your tax liability.

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Tax Deductions for Owner-Operator Truckers

As an owner-operator in the trucking industry, your tax situation is unique. You benefit from special allowances for meals, are allowed very large write-offs for tractors and other equipment, must pay additional taxes and permit costs, and may have special reporting requirements in addition to your tax returns. The following is an overview of the tax issues that may apply to owner-operators.

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