Are your clients prepared?

Inform your clients on upcoming regulatory changes impacting their business.

June 25, 2012
Sponsored by Paychex

As your clients’ trusted business advisor, you can help simplify the regulatory complexities that might face their business. The Paychex Partner Program from the AICPA Trusted Business Advisor Program arms you with the resources and expertise to meet your clients’ changing needs in light of upcoming regulatory reform. Learn more on how Paychex can work with you to help meet your clients’ needs.

Here are five important regulatory issues on the horizon that might affect your clients’ business:

  • Health care reform:
    The constitutionality of its “individual mandate” provision will be decided by the Supreme Court. The Court’s decision will have obvious ripple effects, as all of the law’s business-facing requirements could be impacted. How will this impact your client’s costs?
  • Important year-end dates:
    On Dec. 31, the Payroll Tax Cut Extension and Bush era tax cuts are set to expire. In addition, on Jan. 1, 2013, mandatory federal spending cuts will be triggered to address the deficit. What direct and indirect implications do these cuts have on your clients’ businesses?
  • S corps.:
    Policymakers are discussing closing what some view as a tax loophole in the structure of S corps. This would potentially subject certain S corp. income that currently is not subject to payroll taxes to these taxes. What are the tax implications for your S corp. clients?
  • Buffet rule:
    While this measure has currently been blocked in the Senate and is unlikely to pass the House, its basis is a recurring theme among some policymakers, that is, ensuring high-income earners pay a higher effective tax rate. This would basically subject high-income individuals that obtain a significant amount of their total income from investments as opposed to salary or wage earnings, to a higher tax rate. How would this impact your high-income clients?
  • Medicare tax rate:
    A provision contained in the Affordable Care Act will increase the Medicare tax for high-income earners beginning in 2013. What does the potential new rate mean to your clients’ bottom line?

You can learn more about these updates here and stay informed. Find out more about the Paychex Partner Program at www.cpa2biz.com/paychex or call a representative at 877-264-2615.