Extracted from article (http://news.thomasnet.com/IMT/archives/2010/05/health-care-reform-the-effect-on-small-biz-owners.html?WT.mc_t=nlimt&WT.mc_n=1015&channel=email) Health Care's impact on Small Businesses, by David Butcher, this section caught my eye.
….While taxes may hit many small business owners, the largest impact may be the increase in administrative costs when it comes to managing employees' health coverage," Bram adds.
"One thing you may want to start preparing for this year is extra paperwork," Inc.com warns. "Beginning in 2011, companies will have to start reporting on W-2s the value of the health plans they provide to employees. And as the government ramps up tax collection efforts to pay for health care reforms, in 2012 you'll have to report every single business-to-business payment of $600 or more to the IRS on a 1099."
As I get a better understanding, I will document ways to have your Dynamic software keep track of these reporting values.
For those Dynamics users under support contracts and under software versions which are still supported with new forms. For those outside of product life cycles, this will be a problem. The next key date for SL customers end of support is the version SL 6.5, which ends support 4/12/2011.
The next key date for GP customers facing end of support is for GP version 9.0 is 1/11/2011.
Check which version you are using for your software by clicking on the "help about" menu and identify the version number. Call if you have questions.
We are seeing a trend in many of our customers that they are starting to replace older machines and older servers. This is an excellent time to also upgrade your software, especially if you have been sitting on activated unlocking version of your Dynamics Software. Let us know if we can assist in the upgrades/
Regards,
Jeff Cozens
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