I have a NOBAMA CARE question

So long story short, i have 2 shops my buddy had 2 shops. No connection at all. We each have about 30 full time equivelants.

We want to open a shop as partners, our CPA told us even if we make a new corp for this new store they are going to consider all 5 stores a common intrest and we will be over the 50 full timers and need to provide health care to all full timers

Is this true? I figured they would count the 5th stores employees against both of us but we would still be under 50.

However if they count his other to shops against mine then i will be over the 50 and so will he. This whole deal is obsurd, it would cost each about 10k a month for health insurance and that is more then store 5 will profit, so its a waste if this is the case

I hate the govt

I believe the joint venture could be considered a parent group which pulls in the individual ones as subsidiaries for the purpose of determining full-time equivalents. This is the unintended consequence of preventing owners from breaking up their multi-unit operation into individual companies to avoid the ACA requirements.

Read more here: http://www.irs.gov/pub/irs-tege/epchd704.pdf

But, But ,
I thought the U-ACA was going to make the world such a wonderful place, and pizzas would be delivered on the backs of rainbow colored unicorns, and the farts from said unicorns would power the plug-in electric vehicles, not the coal burning power plants that currently provide power for these “Zero Emission vehicles”
Who is John Galt?

Well this is just awesome!

Any idea if 380 per month per employee sounds right for health care? this is going to get expensive fast

Remember, you only have to provide medical insurance to actual full-time employees (those averaging > 30 hours/week). It is possible to have 50 full-time equivalents and still have fewer than 30 actual full-time employees if you staff no more than 30 people working +30 hours/week. You get an exemption on the 1st 30 full-time employees and only pay the $2,000 penalty on every one from 31 on up if you choose not to provide medical insurance in your companies.

If you do choose to provide medical insurance to your full-time employees, you are allowed to charge them up to 9.5% of their household income to offset the cost of their premiums. By not providing medical insurance to anyone, you allow those employees to go to your state’s exchange and have some (maybe a lot or nearly all) of their premiums offset by federal tax credits.

Read more here: http://www.irs.gov/uac/Newsroom/Questions-and-Answers-on-Employer-Shared-Responsibility-Provisions-Under-the-Affordable-Care-Act

Edit: Oh, and Holy Cow I almost forgot about the non-discrimination rules. If you choose to not offer medical insurance to your full timers then you most likely can not pay for your own premiums through your company! The penalties can be massive if you’re found to be discriminating ($100 per day per employee).

Please talk to your CPA about all this.

Here’s our plan:

If you work 30ish hours a week you will no longer be able to. You are going to have to work 36+ or drop below 30.
The company will pay around 60% of the coverage and the employee will pay 40%. According to the number I have crunched that gets us in that 9.5% range. Although I have no idea how we are supposed to know what someones “household” income is.
At this point in time we would have around 30 eligible people that could purchase the plan thru us. Our cost would be around $8000 a month. From the conversations I have had with our employee’s, most would decline the insurance and just pay the personal fine. But with the fine going up over the years I’m sure many would buy the insurance down the road. I know the restaurant associations are fighting to get the 30 hour full time number moved higher to the 35 hour range but I don’t know if any headway has been made there.