Affordable Care Act (ACA)

Broussard & Company, CPA’s | TRENDS

The Impact of the ACA on Small Businesses

The Affordable Care Act 50 FTE Rule

According to the U.S. Chamber of Commerce website, the Affordable Care Act, or “ObamaCare”, requires employers with 50 or more “Full-Time Equivalent” (FTE) employees to provide healthcare to its FTE’s and offer it to their dependents.

While having 50 full time employees seems pretty cut and dry, employers who have a mix of fewer than 50 full-time employees must also include the hours of their part-time employees in calculations to determine if they must comply.

This can end up requiring more complex calculations of payroll hours and cutoff periods.

The CPA’s of Broussard & Company have studied the new law and its impact upon businesses and have devised methods to determine employer ACA responsibilities. This allows us to assist clients and to consult with employers to determine the impact of ACA upon their business. We also explore ways to budget and modify hiring practices to become a cost-effective jobs creator.

Affordable Care Act Penalties

As with any new law, mistakes are made.  By mistake or omission, employers may fail to comply with the law or its deadlines. The IRS may mistakenly assess penalties to small business owners.

Broussard & Company assists business owners by filing ACA reports and ACA corrections and also by representing clients who are penalized by the IRS.

ACA Report Filing

Employers are required to submit their Form 1094 and Form 1095 annually by January 31st.  Our ACA team assists organizations who lack the time or knowledge to:

  • Properly understand the ACA law
  • Properly summarize the data needed for the report
  • Acquire the specialized software used for ACA reporting 

For more information on how the ACA affects your business, contact us at Broussard & Company, CPA’s at (337) 439-6600.