2015 OBAMACARE TAXES

How Obamacare could alternate your taxes this year

The upcoming season is the primary by which taxpayers may be on the hook to pay a penalty for now not having medical insurance. And the stereotype of befuddling tax ideas rings proper: There probably might be confusion and new kinds galore for a lot of under the ACA …
learn extra on The Tennessean

citadel Lauderdale, FLA (PRWEB) January 06, 2015

With the rising costs of affordable health care and the rising tide of minimum wage, many companies are taking into consideration the idea of changing staff to unbiased contractors or just hiring unbiased contractors in lieu of workers.  The inexpensive Care Act (known as “Obamacare”) requires sure employers to supply their workers with medical health insurance or money that can be utilized to purchase medical health insurance. Some firms could consider re-classifying an employee as an impartial contractor in an effort to keep away from having to either present health insurance underneath the law or pay additional time. Such attempts to be penny smart will end in being pound silly according to Kim Vaughan Lerner LLP companion Brian L. Lerner. If the individual has been misclassified, the penalties are severe. 

in keeping with a up to date Forbes article, “Disputes are popular, and many different agencies can second-guess your resolution. There’s the IRS, state tax authorities, labor departments, and insurance companies. All of them scrutinize the standing of employees. Even employees who accept their pay and signal contracts as impartial contractors can nonetheless sue claiming they are truly staff. Signing a contract does not prevent the worker from suing and winning.”

in the contemporary case of Jorge Contreras v. Aventura Limousine & Transportation provider, Inc. (Case #13-22425), Kim Vaughan Lerner LLP efficiently represented Jorge Contreras, a limousine driver that the company had known as an independent contractor.  As an independent contractor, the truthful Labor standards Act provides that an organisation does no longer must pay the worker additional time wages. in step with the courtroom paperwork (U.S. District court for the Southern District of Florida), the jury found Contreras to be an employee, which entitled him to a couple of thousand hours of time beyond regulation. The jury reached this verdict although Contreras signed a record pronouncing that he used to be an unbiased contractor. In all, the jury awarded Contreras $ 104,000, and the court docket imposed a liquidated damages penalty entitling Contreras to any other $ 104,000, for a total of $ 208,000.

At trial, the company argued that its classification used to be correct since the IRS and the state tax authority authorized the classification.  then again, the jury nonetheless found Contreras to be an employee because the fair Labor standards Act utilized a distinct same old than used by tax authorities.  “The lesson discovered here is that there are many strategies that practice and both companies and people want to ensure that they’re covered underneath all of those methods. relying on just one manner would possibly not protect one from legal responsibility and might prove costing a long way more in the long term than what’s saved within the quick time period,” said Brian L. Lerner.

Kim Vaughan Lerner LLP is a industry litigation firm presently in its tenth year of successfully representing purchasers with a variety of legal considerations in the South Florida house. The firm focuses on trade disputes faced by means of companies and individuals and deals value-efficient and outcomes-oriented prison counsel for trade issues, together with contract disputes, insurance coverage-related claims, employment disputes, change secret disputes, international dispute decision, officer and director disputes, in addition to building claims, amongst others.

The agency’s partners are Jay Kim, Robert C.L. Vaughan, and Brian L. Lerner, all of whom have intensive experience in litigating and resolving industrial disputes and are peer-assessment rated “AV,” the best rating by way of Martindale-Hubbell.

For extra knowledge or to time table a session, please name 954.527.1115. Kim Vaughan Lerner LLP is situated at One monetary Plaza, one hundred SE 0.33 Avenue, Suite 2001, fort Lauderdale, Florida 33394.

About Kim Vaughan Lerner LLP

Kim Vaughan Lerner LLP is a minority-owned business and a licensed minority business endeavor based in 2005 in citadel Lauderdale, Florida. The agency specializes in trade disputes confronted by way of companies and folks.

About NALA™

The NALA is a full-service marketing company providing customized personalised service for small and medium companies all the way through the us.  

PR Contact: Tiffani Tendell

ttendell(at)thenala(dot)com,

805.650.6121, ext. 361





More_About: