A graphic showing a clear division between a small business office (representing the employer) and an infographic of the ACA/Obamacare exchange marketplace, with a bold red arrow pointing from the company plan to the exchange, symbolizing a strategic shift in coverage.

ACA – did you know it may be better to TERMINATE your Health plan?

February 17, 2014
Shauna Wekherlien
General

Today we hosted an amazing webinar with Chris Brown and Mark Hunter from www.easyaca.com . They gave us some interesting news that even I didn't know! Did you know that it may be better to REMOVE your company health plan if…

download transactions / input by hand as needed
categorize the transactions
reconcile & balance the accounts (bank, credit cards, loans)
input all payroll information
reconcile payroll accounts, payments, withheld taxes, etc.
review client monthly correspondence for outstanding items / other questions
review client draw account for business expenses
review business expenses for client draws
allocate meals properly between deductible / non-deductible portions
allocate all items to “classes” if function use in the files
allocate all items to various states if multi-state entity
split other tax specific items (depreciation, amortization, interest, accruals, etc.)
compare to previous month in last year for issues
compare to previous month in current year for issues
review for tax changes needed (raise wages, decrease wages)
review for new asset purchases & properly classify
prepare internal workpapers for audit backup if ever necessary
prepare sales tax & file (if applicable)
review need for 1099’s / w-9’s from contractors – request from client
review against overall tax projections (if applicable) to ensure we are “on track”
Analyze any “over arching” issues (audit flags, etc)
review by senior bookkeeper
review by CPA
send final “all OK” or “need changes” email to client.

ACA

ACA – did you know it may be better to TERMINATE your Health plan?

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Tax Goddess Business Services, P.C. - All rights reserved.

Copyright ©

2026

Tax Goddess Business Service, P.C.

-All rights reserved