Welcome to Weltman Bernfield, a certified public accounting and business consulting firm located in the Chicago suburb of Buffalo Grove. We serve clients across the country, offering the expertise of a large CPA firm with the benefits of personalized service. Our accountants’ combination of education, experience and ongoing training means clients consistently receive efficient service and value. We provide a full range of services, including audit and attest, tax, valuations and more.
Andy works in the Audit Department at Weltman Bernfield and is actively involved in the firm’s valuation engagements. He is a graduate of Albion College in Kalamazoo, Michigan, with a bachelors degree in Economics and Management with an emphasis in Accounting. Andy started his career at Weltman Bernfield in July 2013.
August 2015 General Client Newsletter
Review Your Taxes Now To Prevent a Surprise Next Spring
Did you get a larger tax refund than expected or did you find you owed a lot more tax than you thought you would? Did you marry? Have a child? Have a change in income? Some life events can have a major effect on your taxes. Now is a good time to review your situation to prevent another tax surprise and bring the tax you pay closer to the amount you owe.
Contact your tax advisor for help. The IRS also offers tips at irs.gov to help you determine a plan of action.
Upcoming Tax Deadlines…
Remember, the next corporate tax deadline is September 15 if you are a calendar year end and have extended your filings from March. Also, if you requested an automatic six month extension to file personal income tax returns, the deadline is coming up in October.
In this month’s issue:
July 2015 General Client Newsletter
Supreme Court Rules on ACA
On June 25, the U.S. Supreme Court released its decision on King v. Burwell, upholding the availability of premium tax credits (subsidies) under the Affordable Care Act (ACA) in every state. The case questioned whether the ACA allowed for tax credits for health insurance purchased through a federal exchange, or only permitted credits for insurance acquired through a state exchange. Internal Revenue Code Section 36B states that premium assistance credits may be available if a taxpayer is enrolled in health insurance “through an Exchange established by the State….” The ACA requires states to establish exchanges, and, if a state cannot or will not establish a state exchange, the federal government, through the U.S. Department of Health and Human Services, is to “establish and operate such Exchange within the state.” Petitioners in the case did not want to comply with the ACA’s individual mandate to purchase health insurance. They argued that they did not qualify for the tax credits because they live in Virginia, which has a federal exchange. This ineligibility made the cost of buying insurance unaffordable per the ACA, and, therefore, they would be exempt from the individual mandate coverage requirement. The Court maintained that qualifying individuals may receive premium tax credits for health insurance, regardless of whether the insurance is obtained through a state or federal exchange.
For more information on the ACA, visit irs.gov/Affordable-Care-Act, or contact your tax advisor.
In this month’s issue:
Congratulations to our firm administrator, Christine Golz, AAAPM! Christine received the 2015 ACE Award from the Association for Accounting Administration (AAA) at its annual recognition dinner on June 8, 2015. The event was part of the Association’s 32nd National Practice Management Conference, held at the Walt Disney World Swan and Dolphin Resorts in Orlando, Florida.
The ACE Award stands for Achievement, Commitment and Excellence and has been awarded to some of North America’s most experienced and respected CPA firm practice managers since its 1989 inception. As the AAA website explains, “Criteria the judges use for the selection process focus on leadership and the individual’s strategic impact on the firm’s profit and growth. Candidates for the Award have made major contributions to their firms by implementing and overseeing programs that contribute to the firm’s long-term growth; help the firm meet its strategic goals; improve firm profitability; help create an employee-friendly culture that encourages long-term staff retention; and emphasize the value of entrepreneurship, leadership, continuous learning, marketing and client service skills.”
“I could not do the job I am doing without Christine,” says Weltman Bernfield’s managing member, Glenn Mikell, CPA. “She is more than just the firm administrator and goes beyond all expectations. There is no one more deserving of this award, and no one is more proud than I am. The partners at Weltman Bernfield LLC can’t thank her enough for all that she does for the firm, now and in the future.”
Christine joined Weltman Bernfield in 2009. She serves on the Management Committee and is responsible for planning, organizing, directing and controlling day-to-day operations of the firm, and for directing implementation of firm policies. She is involved in all phases of administration, personnel, finance, facilities and marketing.
For more information, visit http://www.cpaadmin.org/articles/2015-ace-award-recipient-announced/