Now that the Affordable Care Act has finished the first year of coverage, many Californians will face a new challenge when filling their 2014 tax returns. Each person covered through the State Exchange (CoveredCA), will be issued a new form 1095A. This form will outline the amount of subsidy they either received or were entitled to receive. This amount must be reported with the 2014 income tax filing on a new tax form: 8962.
As this is a whole new process, it is likely to cause confus [. . .]
Just as you thought it was safe to make planning decisions on your company benefits, the State of California is changing some of the rules. At the beginning of 2014, the State decreed that all employees would be eligible for your group coverage no later than the first of the month following 60 days of employment. Even though the Federal standard was 90 days, California legislators decided on 60 days. Now the legislators and the Governor have 'seen the light' and are bringing the California [. . .]
"Queen Elizabeth visited the set of 'Game of Thrones' and said things are hard to keep track of because everyone keeps dying - to which Prince Charles replied, 'Not everyone'. " -Jimmy Fallon
Like monarchs, some business owners plan to control the company until the day they die. Unlike royal succession, succession at death can wreak havoc on a family owned business. In our experience, small businesses often lose talented and motivated family members and key employe [. . .]
Rachel Owens and William Sornstein are Registered Representatives with and Securities and Financial Planning offered through LPL Financial, a Registered Investment Advisor, member FINRA / SIPC. The LPL Financial registered representatives associated with this site may only discuss and/or transact securities business with residents of the following states: California, Arizona, Iowa, Nevada and Texas.
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