Wednesday, February 27, 2019

Is Healthcare Reform in 2019 Healthy for You & Your Business?

By Ben Kinsey, CPA

Image courtesy Blue Diamond Gallery
It’s been said that the only things in life that are guaranteed are death and taxes.  Well, I’d like to add another codicil to that tenet called Healthcare Reform.  I say this because ever since the so-called Affordable Care Act was signed into law back in 2010, it has been kicked around like the mother of all political footballs.  Even as 2019 had barely begun, US District Court Judge Reed O’Conner declared the ACA unlawful.  He ruled the mandate requiring the American public to buy health insurance was unconstitutional.  Back in 2012, the Supreme Court ruled that the law fell under the Senate’s taxation powers, rendering it constitutional.  As the football and the buck is being passed back and forth while the issue is being decided by the Fifth Circuit Court of Appeals. I thought I’d take the time to write about what’s in store for businesses in the coming year.

Friday, February 15, 2019

Are Business Meals Feeding Your Face or Eating Your Lunch?

By Ben Kinsey, CPA

Image courtesy of flickr
One of the perks of being a business owner is being able to write off meals when you travel for business or take a client out for lunch.  That’s the good news.  The bad news is that the IRS rules for deducting meals are complicated.  Get them right and you can enjoy that free lunch you’ve always heard about.  Get it wrong and you can wind up running afoul of those same regulations, which could cost you deductions or even give the IRS cause to begin an audit that could well eat your lunch.  Below is some food for thought regarding meals.