A recent decision by a Centers for Medicare & Medicaid Services ("CMS") Administrator serves as a reminder to providers regarding "bad debt" collection efforts. Medicare providers can be reimbursed for "bad debts," which are "uncollectible" amounts attributable to...
PLDO Law Blog
Month: December 2014
Medicaid Market Explodes as Primary Care Doctors Face Major Cut in Fees for Services
The market is flooded with millions of people who have new Medicaid coverage at the same time primary care physicians (PCP) who care for this population face a major cut in pay. The Affordable Care Act (ACA) authorized the federal government to fund a temporary...
Health Care Premium Tax Credits Under Review by U.S. Supreme Court: Decision Could Have Far-Reaching Consequences
On November 7, 2014, the Supreme Court of the United States decided to take up the issue of whether premium tax credits provided for under the Affordable Care Act (ACA) are available on both state and federal health insurance exchanges. The Court will hear arguments...
Massachusetts Voters Approve New Sick Leave Law: What It Means To Your Business
Massachusetts employers would be well advised to update their written policies, employee handbooks and internal record keeping procedures to prepare for a new law that provides one of the most generous sick leave mandates in the country. On November 4, 2014,...
HOW LIFE INSURANCE PROCEEDS COULD AFFECT A COMPANY’S VALUATION FOR ESTATE TAX PURPOSES
A recent case brought to light the impact that a stock-purchase agreement and life insurance proceeds may – or may not - have on the valuation of a closely held company for estate tax purposes. In this case that caused a split between the 8th and 11th Circuits, the...
HASTE MAKES WASTE . . . CASH THE CHECK.
One never knows what corner the grim reaper lies behind. A final illness can often accelerate quickly and deprive a donor of adequate time to complete gifts for tax purposes that he intended to make. In a recent federal court case, the Third Circuit Court of Appeals...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
WHY ESTATE PLANNING FOR BUSINESSES IS CRITICAL (NOT OPTIONAL)
Owning your own business can be extremely demanding. From your customers to your employees, there’s hardly enough time in the day. While most entrepreneurs are consumed by the day-to-day challenges of running their businesses, they often neglect the critical task of...
