75th Anniversary Timeline
This year Smith Haughey is celebrating our 75th Anniversary. Take a look at the journey the firm has taken!
Do your employees have questions about completing their tax returns without the 1095-B and/or 1095-C?
Over the last few weeks, I have been receiving calls from employers asking about preparing a communication or a resource for employees that received their W-2s but, due to IRS’s ACA reporting extension, haven’t yet received their 1095-B and/or 1095-C. The IRS has published a very helpful website that assists employees with these types of questions…
“Hard Cap” Dollar Limits for Contributions to Medical Plans for Michigan Public Employers
Public Act 152 limits the amount that a public employer can contribute for employee medical benefit plans. PA 152 provides that public employers may elect a “hard cap,” pay no more than 80% of the total amount of annual medical costs, or elect to exempt itself from the requirements under PA 152. For public employers that elected the “hard cap” do…
Choosing the Right Entity: Limited Liability Companies
Over this past year, we have discussed the different types of entities that are available to individuals that are looking to start a business. Thus far, we have specifically addressed some of the benefits and drawbacks associated with c-corporations and s-corporations. This week, we are going to discuss limited liability companies or LLCs and addre…
Choosing the Right Entity: C-Corporations vs. S-Corporations
A few months ago we discussed some of the benefits and drawbacks associated with forming a business as a corporation. Generally, the corporation structure is ideal for larger businesses with high numbers of shareholders or startup companies that are anticipating obtaining funding from traditional private equity sources (or possibly going public dow…