Affordable Care Act

5 Things Everyone Needs to Know

 

On Feb. 10, 2014, the IRS issued final regulations on the Employer Shared Responsibility provisions under the Affordable Care Act. Here are five things everyone needs to know about the Affordable Care Act:

 

1. The Employer Shared Responsibility Provisions are in affect beginning January 1, 2015.

No Employer Shared Responsibility payments will be assessed for 2014.

 

2. Number of Employees

Employers will use information about the number of employees they employ and their hours of service during 2014 to determine whether they employ enough employees to be classified as a large employer for 2015.

 

Edina Chamber of Commerce Golf Event

 

Fruit and Juice Bar

Kyle had a fun day on the Braemar Golf Course networking and sharing a fruit and juice bar with golfers at the Edina Chamber of Commerce annual golf tournament.  

Weekly Tax Update - Aug. 3, 2014

Federal

 

Tax Court Affirms Rejection of Informally Submitted Offer-in-Compromise

 

Rochester, Minn. - Happiest City

Rochester is one of the happiest cities to live in America. 

 
Check out the MSN news article about the 10 Unhappiest & Happiest Cities in America. We sure enjoy having one of our four offices located in one of the happiest cities in America. Great city and great people!
 
Make sure to check out all four of our office locations by clicking the Contact Us tab.

Rochester Area Chamber of Commerce Golf Event

It was a beautiful day for golf at the Rochester Area Chamber of Commerce annual tournament. Pictured: Ben Turnquist, Jill Eggerichs and Gus at our '70s themed booth! 

Weekly Tax Update - July 21, 2014

Federal

 

Only One IRA Rollover per Year

United Way's Power of the Purse Lunch

Smith Schafer staff attended the United Way's Power of the Purse lunch on June 17, 2014 to raise support for early childhood programs. 

Thank you for putting on such a wonderful event United Way of Olmsted County

Pictured below: Kali Olstad, Shelly O'Groske, Trisha White, Jill Eggerichs, Karen Harlos, Jenny Hosfold, Jenna Bowman and Judy Hasti.

MSBOA Conference

Minnesota School Bus Operators Association Summer Conference

 

 

 

 

 

 

 

 

 

 

Smith Schafer's Transportation Team had a great time at the Minnesota School Bus Operators Association Summer Conference on June 8 & 9 at Sugar Lake Lodge. A beautiful day for golf, a delcious dinner and many wonderful speakers contributed to the weekends success. 

Pictured above: Bridget Wheeler and Jill Schultz 

Tax Alert

Minnesota Legislature

The Minnesota Legislature completed its 2014 session on Friday, May 16, 2014. The following are some of the recent changes the legislature has made:

Property Tax

 

AGRICULTURAL HOMESTEAD MARKET VALUE CREDIT

Increases the rate of the agricultural homestead market value credit so it reaches a maximum of $490 at a market value of $270,000 and over. Under current law, it reaches a maximum of $345 at $115,000 of value, but then decreases to $230 at a value of $345,000 and over. Effective beginning with taxes payable in 2015. 

JDRF Roll & Stroll

Bronze Sponsor

 

 

Smith Schafer was proud to sponsor the JDRF Roll & Stroll on Sunday in Rochester. Pictured above is our Rochester Office Manager, Shelly O'Groske and her family. Great work Shelly!

The JDRF Walk is an impactful way to raise money for critically needed type 1 diabetes (T1D) research and show your support for the millions of people affected by this serious disease. Click here to learn more. 

 

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