Medical Device Tax Reinstated for 2018
The 2.3% medical device excise tax (MDET) was reinstated on January 1, 2018 after a two year suspension. The MDET is imposed on domestic sales including imports, manufacturing and the production of medical devices. The MDET initially went into effect in January 2013 to help fund the Affordable Care Act.
American Health Care Act: Where we stand after the House Vote
On May 4, 2017, the House of Representatives passed the American Health Care Act (AHCA) by a vote of 217 to 213. The AHCA represents the Republican plan to repeal and replace the Affordable Care Act (ACA, or Obamacare). The Bill now travels to the Senate, which is expected to
Challenges Arise Against Pending Department of Labor Fiduciary Rule
On April 6, 2016, the Department of Labor introduced a new rule extending and strengthening its existing definition of a fiduciary. Previously, while many financial advisors such as Certified Financial Planners and Registered Investment Advisors were subject to these fiduciary standards, brokers and insurance agents were exempt. Rather, they abided
Dramatic Change in DOL Overtime Rules Finalized
Over the past several months, the U.S. Department of Labor has been developing new rules that would raise the salary threshold for whether an employee is exempt from overtime pay. On May 18th, the final regulations were released, and they present a dramatic change from the current rules. Millions more
How do I know if I need a SOC report?
Does your organization provide services that are critical to another organization’s success? Does your organization process or store information for other organizations? If you can answer “yes” to either of these questions, it is more than likely that you need a Service Organization Control report, or SOC for short!
Clean PCAOB Report Reflects High Quality for Barnes Dennig
Barnes Dennig recently received a “clean” inspection report from the Public Company Accounting Oversight Board (PCAOB). This means the inspection of the firm’s SEC audit practice did not identify any audit performance issues or quality control defects (“clean report”). Barnes Dennig is the only firm headquartered in the area that