Based in Salem, Oregon in the heart of the beautiful Mid Willamette Valley Fischer, Hayes & Associates, P.C. offers a range of financial services for individuals, local, and regional businesses including agricultural, hospitality, retail, medical, and manufacturing.
Founded in 1981, Fischer, Hayes & Associates, PC has developed into one of the Willamette Valley’s leading Certified Public Accounting firms with a reputation for excellence based on integrity, expertise, and concern for the well-being of our clients. Our firm provides services delivered by our team of knowledgeable professionals who are committed to their clients and our community.
Our firm currently employs 12 Certified Public Accountants (CPA’s), and additional experienced accounting staff to provide a full range of accounting and business services to support our clients in proactive planning and creative strategy to successfully achieve their financial goals. These services include tax services, financial statement assurance, business valuation, litigation support, and management consulting.
We also provide information, guidance, training, and support for all types of financial needs throughout the cycle of life, family, or business. Employees of the firm range from grandparents to new parents, and we understand how to provide the financial knowledge and planning required over the span of time.
We take great pride in our client relationships and the varied industries that we serve and are second to none in the support and concern that we demonstrate to all our valued clients and our community.
In July, the 2015 Oregon Legislature renewed the Tax Credit that funds the Oregon IDA Initiative. Click Here to read more.
Affordable Care Act Update for Employers
We wanted to make certain you are aware of new ACA reporting requirements that may be effective for your company for the 2015 calendar year. These requirements apply to those companies who are deemed to be an “applicable large employer” or “ALE”. Your company is an ALE if you had an average of 50 full-time or full-time equivalent employees in 2014. For this purpose, a full-time employee is one who works on average at least 30 hours per week; two part-time employees who work an average of 15 hours per week would be considered one full-time equivalent employee. Please note that employees of companies that are related by common ownership may have to be aggregated to determine if ALE status applies to the group of companies.
Required Reporting: Form 1094-C & 1095-C
A Form 1095-C Employer Provided Health Insurance Offer and Coverage must be filed for each employee of an ALE who was a full-time employee for any month of the 2015 calendar year. A copy of the 1095-C must be provided to the employee. Form 1094-C is the transmittal form which must accompany the 1095-Cs and provides summary information as well as certification of any eligibility of relief from the employer mandates that may apply. These forms have the same filing date requirements as your W-2s and require the following information:
the employee’s name, social security number (SSN) and address,
the employer contact and Employer Identification Number (EIN), including the contact person’s name and phone number,
description of the offer of coverage (using codes provided in the instructions) and the months of coverage,
each full-time employee’s share of the cost for coverage under the lowest-cost, minimum-value plan offered by the employer, by calendar month, and
the applicable safe harbor (using codes provided in the instructions), under the employer shared responsibility or employer mandate penalty.
If your company provides self-insured coverage, additional reporting requirements may apply.
The ACA rules are complex and a constantly moving target with many rules and regulations from several governmental agencies. We do not claim to be experts in this area and should not be relied upon for definitive answers regarding the ACA. We can, however, provide you with referrals if you have any questions regarding the subtleties of FTE calculations and reporting and disclosure requirements. Please do not hesitate to ask if you need additional guidance – the penalties for noncompliance with these ACA requirements are significant.