Updates

Health Insurance Penalties

"[...]  on 1/20/17, President Trump issued an executive order that directed federal agencies to waive, defer, grant exemptions from, or delay implementation of Affordable Care Act (ACA) provisions that impose a fee, tax, penalty, or regulatory burden", (Thomson Reuters, 2017)  > Link

Revised Verification of Employment Form I-9

  • Form I-9 > Current Version
  • E-Verify Records Disposal ... Act Now!
  • Heavy penalties for non-compliance and even incomplete files - contact us to discuss.

2017 Inflation Adjustments

  • Mileage rates
    • Business: 53.5¢ per mile
    • Medical or moving: 17¢ per mile
    • Charitable service: 14¢ per mile
  • HSA contribution limits
    • Single: $3,400 (age 55+ $1,000 catch-up)
    • Family: $6,750 (age 55+ $1,000 catch-up)
  • IRA contribution limits, lesser of
    • $5,500 (age 50+ $1,000 catch-up), or
    • 100% of compensation

Factors may influence the above.   Always consult with your tax adviser.

2018 HSA Limits

  • HSA Contribution limits
    • Single: $3,450
    • Family: $6,900

Factors may influence the above.  Always consult with your tax adviser.

QuickBooks

Suggestions are Appreciated

Email me your suggestions at chantal@regantax.com