“Gig Economy Impact by Generation”, a new study from Prudential’s “Gig Workers in America” series, explores current gig economy employment patterns and how they affect the financial stability of different generations. Prudential notes that while Baby Boomers, Gen-Xers, and Millennials are all actively participating in the gig economy (defined as those who work as freelance designers, ride share drives and more) their reasons for joining it are different. Millennials, for example, join the gig economy proactively, while Gen-Xers and Boomers tend to do so as a result of drastic circumstance. The study also notes that while Gen-Xers were least satisfied with the work and longed to return to “traditional employment”, Millennials see gig work as a step toward “realizing their long-term aspirations."
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EisnerAmper’s Richard J. Shapiro, Tax Director and Member of the firm’s Financial Services Group details new IRS compliance campaigns that expand its issue based audit approach. In a nutshell, regulations are tightening due to the desire to represent information more accurately and ensure continued efficiency. Click here to read more.
Interested in selling your company? Mark Henry and Scott Derco, Partners in Citrin Cooperman’s Boston and Livingston offices, outline the questions and concerns that should be forefront in your mind while making this decision. Click here to read more.
Many employers offer Health Reimbursement Savings Accounts (HRA). These are a type of employer funded account that reimburses employees for certain medical expenses. What may not always be clear; however, are the appropriate IRS reporting measures to ensure compliance, especially for companies that use a “wrap plan” document. Click here to learn more from Spire Group PC.
"Stalled Progress on the Path to Value-Based Care" is the third annual study from Quest Diagnostics to gauge perceptions of physicians and health plan executives about the nation's journey to value-based healthcare, which focuses on care quality and patient outcomes rather than the quantity of services delivered.
The study analyzes results from a survey of 451 primary care physicians and health plan executives collected earlier this year. It also reveals changes in perceptions over the past two years. According to the study, there is more work to be done to align physicians and health plan executives. 62% of health plan executives said progress has been made over the past year, but only 41% of physicians agreed. The study also suggests physicians need better tools, data access and less complex quality measures to spur adoption.
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Ever wonder how large sporting events like the World Cup or the Olympics affect a country’s economy? Timothy Speiss, a leader in EisnerAmper’s Personal Wealth Advisors Group and its Wealth Planning LLC, dives head first into this topic using the 2018 World Cup, the 2016 Summer Olympics and the 2014 World Cup as examples. While there are clearly many economic benefits to hosting such events, there are often just as many drawbacks. Click here to read more.
Three attorneys from Genova Burns LLC’s labor law practice group explain the Supreme Court’s recent decision to eliminate mandatory public-sector union agency fees. The ruling, known as Janus v. American Federation of State, County, and Municipal Employees, challenged the constitutionality of the requirement that employees in Illinois pay union agency fees even if they were not in the union themselves. Click here to read more about the history of this case and how it affects New Jersey’s public employers.