This page will provide you with important news that can’t be held until the next newsletter … be sure to check back often for updates.

October 24, 2014

In a little less than a month, it will be open enrollment time for those individuals that don’t hae health insurance or want to make a change.  In order to complete the process, besides basis family information, you will need an estimate of your 2014 income.  Start today on the website to prepare for your enrollment.

May 9, 2014

Important, please be aware of the newest tax scam.

Be very careful which emails you respond to!


New Email Phishing Scam: “Update Your IRS E-file”

The IRS has been alerted to a new email phishing scam. The emails appear to be from the IRS and include a link to a bogus website intended to mirror the official IRS website. These emails instruct taxpayers “to update your IRS e-file immediately.” The emails mention and IRSgov, though notably, not (IRS-dot-gov). These emails are not coming from the IRS. Visit Tax Scam/Consumer Alerts for more information.



September 30, 2013

Less than three months until Christmas …. (I know it’s too nice to think about that) … here’s an interesting website for those of you that do gift cards:

Buy, sell and trade various gift cards for a percentage off the face value.  Trading in old ones might get you enough for one that’s really useful.


August 7, 2013

If you will need to apply for health insurance coverage on October 1, WE HAVE THE APPLICATIONS! You can complete them ahead of time and we will review them with you to be sure you are submitting accurate information.

Also, if you have suffered losses in a Ponzi scheme, these losses are now deductible on your tax return.  Contact us for more details.


July 23, 2013

Beginning July 1, 2013, PA inheritance tax will not apply to the transfer of a “qualified family business interest” to one or more “qualified transferees.”  Certain conditions must be met regarding length of time in business, number of full time employees and net book value.  Qualified transferees are members of the decedent’s family only and the exemption can be lost if the business is sold before seven years have passed to someone other than a qualified transferee.


July 16, 2013

If you have a Section 529 plan for your children currently in college, be sure to check out this website with excellent information on how to best utilize the account to avoid a penalty:

Paying for college with Section 529/TAP plans


July 1, 2013

If you’ve purchased a hybrid vehicle (plug in electric), you may be eligible for a state rebate.  Act quickly, the article in Sunday’s paper stated that there were only 350 left.


 June 24, 2013

This week’s topic:  Obamacare

Having just attended a full day seminar on this subject, there were some very important details that you will need to know about before October 1st.

FYI — At 2407 pages it is the second largest bill passed in the US.  This gives you some idea of what’s coming.

  • Medical expenses must exceed 10% of your adjusted gross income before you get any credit for your payments.  This is out of pocket, non reimbursed costs.  However if you are 65 or over (and only one spouse needs to meet this requirement), the 7.5% is still in effect.
  • TIP: if your employer has a flexible spending account, make good use of it ($ 2500 pre tax could save you a lot).  If you also pay part of your health insurance premiums after tax, you should look into making them pretax as well — it WILL SAVE YOU AND YOUR EMPLOYER TAX DOLLARS.
  • You can’t pay for over the counter health supplies or health club dues with a flexible spending or health savings account.
  • TIP: If you have both and FSA and a dependent care account, fund the nondeductible (FSA) first, then the childcare expenses.
  • NEW TAXES ON HIGH EARNERS: if a married couple’s earnings (W-2s) exceed $ 250,000 there will be a .9% surtax on the amount over the threshold ($ 200,000 for singles).  Additionally, if modified adjust gross income exceeds these limits, there is an investment income surtax of 3.8%.   IF YOU ARE AT THESE INCOME LEVELS, LET US HELP YOU FIND WAYS TO MINIMIZE THESE HITS.
  • Beginning in January 2014, everyone must be covered by health insurance or pay a penalty.  Lower income families may qualify for a subsidy (but may also have to pay this back if their income in 2013 increased substantially over 2012) >>> IF YOU WANT TO KNOW IF YOU QUALIFY, WE CAN FIGURE THAT OUT.
  • Health insurance companies can not discriminate based on age, geography, family size and if you are a smoker.  Pre-existing conditions are covered.  However, all plans must cover 7 basic areas (including maternity) and it is expected that premiums will increase, especially for people who have high deductible plans.


Individual client health care letter