Online filing with the EDD will be mandatory for Companies with 10+ Employees in 2017

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Beginning Sunday, January 1, 2017, employers with 10 or more employees will be required to electronically submit employment tax returns, wage reports, and payroll tax deposits to the Employment Development Department (EDD). Employees with fewer than 10 employees will be subject to this requirement beginning January 1, 2018.

This mandate also applies to out-of-state employers who report payroll taxes to the EDD.

The e-file and e-pay mandate requires the following returns, reports, and payments to be electronically submitted: Continue reading

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How to Plan for Health Care Reform in 2013 and 2014 and Avoid Penalties

by Adam Minow, CPA

ImageIn the coming months, many Americans will need to make a decision regarding their health care insurance.  This decision is being prompted by the Patient Protection and Affordable Care Act that President Obama signed into law in 2010, which is also commonly referred to as Health Care Reform or Obamacare. Individuals who do not obtain health insurance coverage by March 31, 2014 may face penalties of up to 1.0% of their income in 2014 (the “Individual Mandate”).  Those penalties increase to up to 2.5% of income in 2016.  The Individual Mandate generally applies to self-employed individuals, unemployed individuals and individuals who are not already covered by another qualifying plan, including employer-sponsored plans, Medicare and COBRA. Continue reading