Obamacare for Dummies - something simple for my clients

[BulldogTom]

OK, so the "anointed one" won the election and Obamacare is the law of the land. For my own information and for my clients who ask (especially small businesses), is there a one page breakdown out there that explains what we need to do to get ready? Any simple tax planning strategies?

I have heard that the "penalty" for businesses who drop coverage and "dump" their employees into the exchanges is less than the cost of carrying coverage for them. Is this true? Is it a valid business strategy?

Just looking for some late night reading material that I can get up to speed before I face my clients this season.

Thanks in advance for any help or resources.

Tom

Hollister, CA

[kcjenkins]

http://www.intellect...rary_node=70586

http://jeffduncan.ho...acare-tax-hikes

http://blog.heritage...coming-in-2013/

http://www.forbes.co...ions-permanent/

http://www.businessi...xes-2010-3?op=1

http://capoliticalne...s-and-the-poor/

http://www.kiplinger.com/businessresource/forecast/archive/health-care-reform-tax-hikes-on-the-way.html?si=1

[BulldogTom]

Hey KC,

What part of a "one page" summary did you not get? Just kidding.

Thanks for the articles.

Tom

[kcjenkins]

Sorry Tom, it's hard to summarize a 2,000+ page law into even 5 pages, I don't think it's humanly possible to get it down to one page. So I just gave you the links I had saved for myself. There;s a lot of overlap, of course, but each of those had some point that I found clearer, or more useful as an example for a client, etc. I don't even remember now why I picked those, but at the time I read them, there was a reason! :wacko:

[Lion EA]

Do you want maybe just 2013? Or, just individual tax payers? Or, small businesses? Details? Broad strokes? If you have a narrow focus, maybe something I've picked up during tax update seminars might work for you.

Yes, the penalty for the first year is small, but does increase over the next couple of years.

Give me your fax # and I'll send you some things I've gotten that you might be able to distill for small business owners. But, if they have less than 50 employees, they might have little to worry about.