Taxation; the tax details are sketchy, but the consequences for employers' current plans could be enormous

Article Abstract:

It appears from the limited tax information available thus far that the Clinton administration's health care reform plan will involve four areas of change to federal tax law. Best-known is the proposed additional excise tax on cigarettes. Two tax surcharges have been suggested, one for employers who derive the greatest benefit from a possible federal subsidy for the health insurance of early retirees, and one for employers who choose not to participate in regional health alliances. Tax incentives would encourage the purchase of health insurance by the elderly, self-employed and disabled. Consumers wanting more lavish health plans would pay tax penalties.

Economic aspects, Health insurance, Health care reform

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The IRS, in recently released final regulations, has clarified when executive pay that exceeds $1 million may be deducted by a publicly held corporation

Article Abstract:

The US Treasury Department has released final regulations implementing IRC 162(m) which detail the $1 mil deduction limit corporations must observe for executive compensation. The 'covered employees' are the corporation's top five executives. Commission-based and performance-based compensation are generally exempted, so companies will want to quality all possible compensation as performance-based or to have the transition or grandfather rules apply.

Compensation and benefits, Executives, Executive compensation

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Complexities abound in offsetting LLCs' losses; basis, at-risk and passive-loss rules may hold pitfalls for investors in real estate LLCs

Article Abstract:

The article covers tax deductions for an investor in a limited liability company, and the conditions for an investor wishing to benefit from a real estate loss deduction. These include having a basis from which to deduct the loss, being "at risk" in an amount at least equal to the deduction, and having either "passive" income or being a "qualified real estate professional."

United States, Limited liability companies, Business losses

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