2022 Health FSA Limit Increase
The IRS released Revenue Procedure 2021-45 (Rev. Proc. 21-45), which permits the following increases for health FSAs for plan years beginning in 2022: $2,850 Contribution limit ($100 increase from the 2021 health FSA limit) $570 Carryover limit, for FSAs with a...
Auto Dealers Webinar: Negligent Entrustment
Negligent Entrustment Automobile accidents are a growing and expensive liability for dealerships, mainly due to distracted driving and a legal concept called negligent entrustment. Many garage liability policies do not offer coverage for incidents of negligent...
Foreclosing on a Condo/HOA Member’s Property
Recovering delinquent fees and assessments from members of a condominium or homeowners association (HOA) can be a headache for the HOA’s board. Each homeowner shares a piece of the association’s operating costs; when they fail to pay their fees, it prevents the HOA...
Keeping Reserves for Your HOA
How much money does your condo or homeowners association (HOA) have in its reserve fund? If you’re puzzled by this question, your HOA could be in for an unpleasant surprise when a major repair—such as replacing the roof—is needed and your association doesn’t have the...