2016

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Keep an Eye on the ACA Rules and Potential Changes

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Are your employees enrolled in a health care plan? Here’s something to consider in your planning: Late in 2015, Congress delayed implementation of a significant tax on high-cost employer-sponsored insurance plans — called the “Cadillac tax” — from 2018 to 2020. Under this rule, when the value of a health plan is more than $10,200 for individual coverage and $27,500 for family coverage, the plans face a 40% tax on the excess amount, but businesses now won’t have to face that concern for a couple more years. Even with this delay, it’s worthwhile keeping this potential tax on your radar screen.

Also, if your company was not subject to the Affordable Care Act for 2015, be aware that the thresholds changed dramatically for 2016. An organization becomes an Applicable Large Employer (ALE) when it employs an average of 50 or more full-time and full-time-equivalent employees on business days during the calendar year. ALEs must provide certain employees with health insurance that meets specific standards, or face significant penalties.  If you have any questions, please contact your Linkenheimer CPA.

By |2020-09-03T20:05:01+00:00December 7th, 2016|affordable care act|0 Comments

Don’t Fall for the IRS Scams Out There

Scammers, claiming to be IRS agents, threatening arrest and jail time if you don’t pay them immediately for overdue “balances” are on the rise. If you haven’t received a call yourself, chances are you will at some point or you know someone who has. and unfortunately, these scams will probably continue and increase over time. Now, it might be daunting to receive a phone call from John Smith at the IRS office, claiming the cops are on your way to your house to arrest you if you don’t make an immediate payment over the phone to them, but rest easy knowing that a) the IRS isn’t going to call you (they are old school), you’ll get a letter in the mail or maybe a fax, and b) they aren’t going to send you an email demanding payment (see https://www.irs.gov/uac/irs-and-security-summit-partners-warn-of-fake-tax-bill-emails ).

To read an interesting story about one person, who worked his way through the cycle of the IRS phone scams to get answers: http://www.vox.com/first-person/2016/10/18/13276464/irs-scam-phone-cartoon

See what the IRS has to say on the continuing issue of phone and email scams:

https://www.irs.gov/uac/newsroom/phone-scams-continue-to-be-a-serious-threat-remain-on-irs-dirty-dozen-list-of-tax-scams-for-the-2016-filing-season

Stay vigilant and if you ever have questions about an email or phone call you’ve received, feel free […]

By |2020-09-03T20:05:02+00:00November 15th, 2016|irs|0 Comments

LINKENHEIMER JOINS PROFESSIONAL FIRM LEADERS IN LONDON FOR ALLIOTT GROUP 2016 WORLDWIDE CONFERENCE

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LINKENHEIMER JOINS PROFESSIONAL FIRM LEADERS IN LONDON FOR ALLIOTT GROUP 2016 WORLDWIDE CONFERENCE

Santa Rosa, CA, 17 October 2016 – Linkenheimer LLP is this week (18-22 October) attending an international conference in London focused on subjects critical to winning, servicing and retaining clients with multi-market business interests. Alliott Group’s Worldwide Conference will be attended by 150 leading professional advisers from 76 independent, owner managed firms located in 36 countries.

Hosted by Alliott Group, an award-winning international alliance of independent, mid-market accounting and law firms, the conference provides attendees from local firms all over the world with access to knowledge and professional contacts that enable them to service more efficiently commercial and private clients who need assistance in multiple geographic markets.

During the four day conference, speakers will include representatives from the Bank of England, the Department for International Trade, the Confederation of British Industry, Meridian West and Farnham Castle Intercultural Training.

The program will equip attendees from Linkeheimer, as well as the managing and senior partners from other Alliott Group member firms, with not only the required technical and professional skills to serve clients across borders, but to also the development of a ‘global mindset’ that […]

By |2020-09-03T20:05:03+00:00October 19th, 2016|alliott, Community|0 Comments

Congratulations to Our Friends for Their Latino Leadership Awards

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Community involvement is one of the reasons Sonoma County is so special. With over 1,300 registered non-profit agencies that generated over $1.2 billion dollars and employs 16,000 people, it’s easy to see why we live in one of the most charitable counties in the United States. And people like Willie and Carlos Tamayo, David Ortega, Octavio Diaz and Marco Lepe are models of that community first, give back attitude. We are proud to see our friends and clients recognized and honored by the North Bay Business Journal with their 2016 Latino Business Leadership Award.

You can view the complete list here.

By |2020-09-03T20:05:04+00:00October 18th, 2016|Community|0 Comments

New Overtime Rules are Changing on December 1st. Are You Ready?

Earlier this year new overtime rules were published modifying the regulations under the Fair Labor Standards Act (FLSA). The rulings may impact the way your business clients classify and compensate their employees. As many as 4.2 million workers may need to be reclassified as a result of this change, and businesses must be in compliance by December 1, 2016.

What has changed.
The minimum salary requirement for certain employees to be considered exempt from the FLSA’s overtime requirements will increase from $23,660 to $47,476 annually (or from $455 to $913 weekly).

If you or your clients have exempt employees earning less than $47,476 per year, you may need to increase their salary or reclassify them as non-exempt and pay them overtime when due. If you have any questions, please contact your Linkenheimer LLP CPA.

By |2020-09-03T20:05:08+00:00October 3rd, 2016|federal, law|0 Comments
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