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ERC Associates PLLC
Scytheville Row, 75 Newport Rd -
PO Box 1726
New London, NH 03257-1726
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Ph: 603/526-7777
ed@erctax.com


Dear Valued Client,

This edition of our client newsletter includes the latest in tax updates and issues that affect your financial well being. We start with some important news for employers concerning the Affordable Care Act form filing deadline, homeowner energy credits that have been extended and much more.

Our goal is to provide you an unparalleled level of client service. If you see something that you want to talk about, please contact us to explore the possibilities. We rely on satisfied clients as the primary source of new business, and your referrals are both welcomed and most sincerely appreciated!



ERC ASSOCIATES PLLC

Affordable Care Act Reporting Relief for Employers

Beginning for the 2015 tax year, Applicable Large Employers (ALEs) are required to file Forms 1095-C and 1094-C with the IRS and provide a copy of the 1095-C to each of their employees. An ALE is generally an employer with 50 or more equivalent full time employees (EFTEs) in the prior year. Even though ALE’s with 99 or fewer EFTEs are not subject to the insurance mandate for 2015, they are subject to the 1094-C and 1095-C filing requirements for 2015.
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Homeowner Energy Tax Credits Get New Life

Recently passed legislation has given new life to two homeowner energy credits that had expired or were about to expire, providing renewed opportunities to homeowners wanting to take advantage of these credits and reduce their energy costs.
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IRS Announces 2016 Standard Mileage Rates

As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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ABLE Accounts And Individuals With Disabilities

Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Prior to the creation of the ABLE accounts, individuals with disabilities who were eligible for Medicaid or federal Supplemental Security Income were limited to a maximum of $2,000 in assets, such as bank savings accounts.
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Don’t Miss Out on the Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is a tax benefit for working people who have low to moderate income. It provides a tax credit that is treated like tax withholding: it goes to pay an individual’s tax liability, and any excess is paid to the individual in the form of a tax refund.
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Jointly or Separately - How to File After Saying I Do

A taxpayer’s filing status for the year is based upon his or her marital status at the close of the tax year. Thus, if you get married on the last day of the tax year, you are treated as married for the entire year. The options for married couples are to file jointly or separately. Both statuses can result in surprises for individuals who previously filed as unmarried. The surprises can be both pleasant and unpleasant. 
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Are You Ignoring Retirement?

Are you ignoring your future retirement needs? That tends to happen when you are younger, retirement is far in the future, and you believe you have plenty of time to save for it. Some people ignore the issue until late in life and then have to scramble at the last minute to fund their retirement. Others even ignore the issue altogether, thinking their Social Security income (assuming they qualify for it) will take care of their retirement needs.
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ERC Associates PLLC
Scytheville Row, 75 Newport Rd -
PO Box 1726
New London, NH 03257-1726
Map It!

Ph: 603/526-7777
ed@erctax.com