On March 23, 2010, President Obama signed into law the Patient Protection and Affordable Care Act. In the wake of the law’s enactment, there were many law suits surrounding the laws mandate that required every person in the United States to purchase health insurance. On November 14, 2011, the Supreme Court agreed to hear legal arguments challenging the Constitutionality of the law. On March 26, 2012, the Supreme Court commenced hearing three days of oral arguments. On June 28, 2012, the Supreme Court ruled that the individual mandate requiring the purchase of health insurance was Constitutional. In the Court’s ruling it upheld Congress’ power to require this mandate under its authority to tax.
Regardless of your personal opinions, the Affordable Care Act is law. The Act provides Congress, many provisions that allow it to tax individuals and businesses that do not adhere to the Act’s requirement for individuals to carry health insurance, and certain businesses to provide health insurance for their employees.
The Affordable Care Act is comprised of many provisions that affect both individuals and small businesses. For reference, we will touch on the health care mandates of individuals that are required from the Act. The scope of this book is to fully explore the tax provisions and mandates of the Affordable Care Act its effect individuals and small businesses.
In the book we will discuss:
· Health Care Exchanges and Individual Mandates
· Tax Credits and Taxation Provisions of Individuals
· Requirements of Small Businesses
· Tax Credits Available for Small Businesses
· Taxes Associated with The Affordable Care Act
For more information visit www.smalleynco.com
If you have any questions you can email Craig W. Smalley E.A.
Author of the books: It Starts With an Idea – Tax Tips for Small Businesses available on Nook and Kindle, The Ultimate Real Estate Investor Tax Guide, available on Nook and Kindle, The Complete Guide to the New Tax Law – American Taxpayer Relief Act of 2012 available on Nook and Kindle, Everything You Wanted to Know about the IRS – Audits, Appeals and Collections available on Nook and Kindle, Tax Avoidance is Legal! The Complete Guide to Individual Income Tax available on Nook and Kindle, and The Complete Guide to the Affordable Care Act’s Tax Provisions available on Nook and Kindle