DHS Extends Form I-9 Flexibilities

On October 11th, 2022, the U.S. Department of Homeland Security (DHS) announced it is extending updated flexibilities for Form I-9 due to the continued safety precautions related to COVID-19 until July 31st, 2023. Background Federal law requires every employer that recruits, refers for a fee, or hires an individual for employment in the United States…

Health FSA Limit Will Increase for 2023

On Oct. 18, 2022, the IRS released Revenue Procedure 2022-38 (Rev. Proc. 22-38), which includes the inflation-adjusted limit for 2023 on employee salary reduction contributions to health flexible spending accounts (Health FSA). The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health FSAs. This dollar limit is indexed for…

2022-2023 Tax Planning Guide

Download a copy of your tax planning guide for helpful insights! Once again, it’s time to start thinking ahead to tax season! The last couple months of the year are a great time to make the most of your tax planning opportunities. Our 2022-2023 Tax Planning Guide is designed to support our clients and assist…

2022 Third Quarter Market Commentary

The third quarter of 2022 has brought little reprieve since our last writing. The S&P is down -23.9% YTD and the Nasdaq is down -32% YTD. Bonds haven’t fared much better with the Barclay’s Aggregate down -14.6% YTD. The Federal Reserve continues an aggressive pace of rate increases, yet inflation remains stubbornly high. The market…

Inflation Reduction Act of 2022

The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest to individuals and small businesses. The Act also extends and modifies some preexisting credits. Extension, Increase, and Modifications of Nonbusiness Energy Property Credit Before the enactment of the Act, you were allowed a personal credit for specified…

New Transparency in Coverage Requirement

In 2020, the federal government finalized requirements for health insurance carriers and employer-sponsored health plans to provide greater transparency in medical claims costs. Effective July 1st, 2022, insurance carriers and health plans will be required to provide a searchable database that allows members to proactively search and review the cost of certain procedures covered within…

Differences Between a PPO, HMO, POS & EPO

As a business owner or HR director, open enrollment can be stressful. With the plethora of acronyms used in the health insurance industry, it’s easy to get overwhelmed when deciding which plans are right for your company. While cost, employee preference, and plan designs are all vital when deciding the best fit, it’s important to…