With so much uncertainty to deal with today, managing your small business may be even more challenging than usual. This post is to acquaint you with excellent, economical, and affordable solutions for professionals including lawyers, attorneys and business consulting professionals for all functions of your small business with up to (99) employees .
Even though many things have changed since the blog below was published in December 2012, the basic information is very important.
Mike | December 3rd, 2012
Earlier this year, I wrote a post about ways that Obamacare might help small businesses. At the time, the Supreme Court had just released it’s decision upholding most of the Affordable Care Act’s provisions and the dust was still settling on what it would all mean. Last month, President Obama won re-election, effectively removing the threat that the law would be repealed soon, and now these provisions are going into full effect, many starting in the next 12 months. Every small business person, accountant, benefits manager, and employee I have spoken with has expressed confusion, provided me questionable information, or just stared at me with a blank expression, often accompanied by a quivering lip.
The implications for small business are just beginning to come fully into focus, and these are complex but in balance are beneficial to most small businesses. The act defines a ‘small business’ as one employing fewer than 200 workers, but for this post I want to focus on the smallest of businesses – those with fewer than 25 employees and with annual revenues of under $1,000,000. This is a very specific, and huge, slice of the small business community. These businesses are almost always owner-managed, which means that they don’t have an HR person to figure it out and they may not have an accountant sophisticated enough to provide reliable answers on what the law requires.
There are a number of requirements that businesses with fewer than 25 employees need to keep in mind as we approach January of 2014 when most f the law’s provisions will have kicked in. The most important questions for these very small businesses are: 1) Am I required to provide health insurance for my employees? 2) What are my options if I do provide coverage ? and 3) When must I do something?
For more information and discussion please email firstname.lastname@example.org or call me on 407-749-9395.
Small Business Consultant