The U.S. Department of Health and Human Services has announced that the compliance date of International Classification of Diseases, 10th revision, Clinical Modification (ICD-10-CM) has been delayed for a year. ICD-10-CM is a revised system to classify and code all diagnoses, symptoms and procedures recorded in conjunction with hospital care in the US. It contains 68,000 diagnostic codes, a significant increase to the 13,000 found in the current ICD-9-CM. The United States was set to begin using ICD-10 on October 1, 2013, prior to the announcement. The new deadline is October 1, 2014.
NJ Court Rules: Non-Immigrant Workers Ineligible for Unemployment Benefits
Under N.J.S.A. 43:21-4(c), to be eligible for unemployment benefits one must be “available for work”. An interesting question arose in Mukatoff v Board of Review with regard to non-immigrant workers.
In order to work as a non-immigrant one must obtain a written work authorization from the Department of Homeland Security (DHS). To obtain this authorization one must present appropriate documentation by the prospective employer. Once authorized by the DHS, he or she may only work for that identified employer. This poses a question. If that non-immigrant is subsequently laid off, does the lack of authorization to work for another employer exclude one from being considered “available for work” and therefore disqualify them from receiving unemployment benefits? [Read more…] about NJ Court Rules: Non-Immigrant Workers Ineligible for Unemployment Benefits
NJ DOL Employer Contribution Deadline -Aug 22nd!
Beginning 2012, employers no longer receive an annual paper Notice of Employer Contribution Rates. Instead, the notice is now accessible through the Tax Web Enabled System (TWES). As a result of this change, it’s urgent that you check your TWES account as soon as possible. The new rates were posted as early as July 23, and there’s a 30 day deadline (from the date of “mailing”) to make a voluntary contribution. In many circumstances a voluntary contribution represents an excellent opportunity to reduce labor costs. For more information regarding TWES check out our blog at: http://ua-cpas.com/blog/2012/01/nj-unemployment-rate-notice/ [Read more…] about NJ DOL Employer Contribution Deadline -Aug 22nd!
Property Settlement Agreement Missing “Little” Detail makes for Big Consequences
Overlooking a minute detail in the Property Settlement Agreement (PSA) is by no means as minor as it may seem. It often results in much grief, wasted time, and squandered money – for both litigants, as well as taxpayers funding the judicial system. In Dawn Zera v. Kevin Krushinski, an incomplete PSA resulted in just that.
Dawn and Kevin were divorced in Jan. 2006. The judgment of divorce (JOD) failed to designate who could claim the children as dependents on his or her tax return. While the JOD ended the marriage, an ensuing nightmare was just beginning. More than six long, costly years of litigation later, on May 22, 2012, the NJ Supreme Court ruled that the parents alternate odd and even years.
The Moral: Divorcing spouses must scrutinize the PSA, making sure the lawyers covered everything. It is wise to have a tax accountant review the PSA for all tax issues. The investment of time and effort may spare you loads of grief.
Physicians’ Needles are Subject to NJ Sales Tax (Ouch!)
A common tax question asked by physicians is whether hypodermic needles and syringes purchased for use in providing patients with medical care are subject to sales and use tax or not. The answer may sting a little. N.J.S.A. 54:32B-8.1c states that sales of supplies “purchased for use in providing medical care for compensation, but not transferred to the purchaser of the service….”are taxable. Hypodermic needles and syringes would fall under that category, so they are taxable.
NJ Cosmetic Tax Phase Out Has Begun
Medical practitioners and dentists in New Jersey offering cosmetic procedures, such as electrolysis or tooth whitening, are required to pay a cosmetic tax. The tax, which began in 2004, is on any cosmetic procedure performed in order to improve the patient’s appearance without significantly serving to prevent or treat illness or to promote proper functioning of the body. Gross receipts from such procedures were taxed at a rate of 6% until this year. [Read more…] about NJ Cosmetic Tax Phase Out Has Begun