1. How Much You Can Contribute to Retirement Plans in 2015

    How much can I contribute to my IRA and 401(k) in 2015? The contribution limits for your 401(k) will be higher in 2015 than in 2014. The maximum you’ll be able to stash in a 401(k), 403(b), 457 or the federal government’s Thrift Savings Plan will increase by $500, to $18,000 in 2015. The catch-up contribution limit for anyone who turns 50 in 2015 will also increase, from $5,500 to $6,000 (for …Read More

  2. 2014 and 2015 HSA Contribution Limits

    If  you are a client of Jarus & Co you know that we are proactive CPA's who attempt to find all applicable deductions for our accounting clients. We love HSA accounts because they are effectively a loophole allowing certain taxpayers to deduct their "out of pocket" healthcare expense.  Typically these are not allowed as a deduction given few taxpayers have out of pocket healthcare expense ex…Read More

  3. Small Business Health Care Tax Credit Helps Orange County Businesses

    Regardless of how you feel about "Obamacare" we urge you to learn more about the Small Business Health Care Tax Credit if it can reduce your cost to provide coverage to the employees of your Orange County Business. Jarus & Co has been tracking the progress of healthcare reform in order to assist clients with taking full advantage of all available deductions. Small businesses with fewer than 50…Read More

  4. What You Need to Know About the Affordable Care Act (Obamacare)

    The Affordable Care Act (also known as Obamacare) was passed in 2010. It overhauls the U.S. healthcare system and will be implemented in phases until 2018. This represents the most significant change to our healthcare laws since the passage of Medicaid and Medicare in 1965. The Act utilizes the tax code and tax return in many respects to implement its measures. January 1, 2014 marks the first majo…Read More

  5. What You Need to Know About ASC 740: Accounting for Uncertainty in Income Taxes (formerly FIN 48)

    ASC 740 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes or “FIN 48”) establishes a “more-likely-than-not” threshold for the reporting of uncertain tax positions on financial statements.  This standard requires new disclosures in annual financial statements, including a reconciliation of total unrecognized tax benefits, classification of income tax…Read More