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February 16, 2016
Steve Dunavant Managing Director for the Memphis office, will present a webinar as part of the CBIZ & MHM Executive Education Series.  Joel Superfon, Director of Investment Management & Advisory Services at Dudley Ventures  will co-present.

This webinar, Emerging Trends in Real Estate - Tax Incentives as Part of Capital Formation, will include an overview of the New Market Tax Credits (NMTCs), types of projects that qualify, community impact, and various technical aspects of the tax credit strategy.

Steve and Joel will also discuss how the NMTCs and Historic Tax Credits (HTCs) can be employed along with traditional sources of capital (bank and government loans, grants, investor capital) to fund real estate development project costs.

To register for the webinar on February 25th, or for more information, click here.





December 1, 2015

Steve Dunavant was honored at Christian Brothers University's Bell Tower Gala with the 2015 Distinguished Alumnus Award - the highest award presented by the CBU Alumni Association.  The award recognizes Steve for his notable level of success in life, significant contributions to his profession, support of CBU efforts, and contribution to society through public service and church activities.

Steve has more than 30 years of public accounting experience and was one of the founding members of our predecessor firm, Thompson Dunavant PLC.  Steve provides guidance on a variety of financial and taxation matters involving: pass through entities, acquisitions/divestitures, utilization of tax incentives, and healthcare reform.

Aside from serving the Memphis office as Managing Director, Steve has contributed time to many committees and Boards.  Currently, he serves on the Board of Trustees at Christian Brothers University and the Americana Music Association.  Formerly, Steve was Chairman of the Board at Visible Music College, and on the Board of Directors at Triumph Bank.

For more information about Steve and the other honorees, click here. To learn more about the Bell Tower Gala, visit cbu.edu/gala.




November 17, 2015

Steve Dunavant, Managing Director for the Memphis Office, will present at the Emerging Trends event hosted by the Urban Land Institute of Memphis.  Highlighting one of the city's biggest real-estate development projects in decades, Steve will give attendees an inside look at Crosstown's New Market Tax Credits.  Joel Superfon, Director of Investment Management & Advisory Services at Dudley Ventures, and Gil Uhlhorn, Member at Bass, Berry & Sims, PLC., will co-present.

The breakfast will be held on Thursday, December 3rd from 8:00 am to 10:30 am at the Memphis Botanic Garden.  Check-in opens at 8:00 am with coffee and continental breakfast.  The program begins promptly at 8:30 am.

For more information or to register for the event, click here.




August 14, 2015

Established in 1974, the Distinguished Alumnus Award is the highest award presented by the Christian Brothers University Alumni Association.  The recipient for this year’s prestigious award is our own Steve Dunavant.  This award recognizes Steve for his notable level of success in life, significant contributions to his profession, support of CBU efforts, and contribution to society through public service and church activities.

Steve Dunavant has more than 30 years of public accounting experience and currently serves as a Managing Director for the Memphis office of CBIZ MHM, LLC.  Steve was one of the founding members of the predecessor firm, Thompson Dunavant PLC.  Steve provides guidance on a variety of financial and taxation matters involving: pass through entities, acquisitions/divestitures, utilization of tax incentives, and healthcare reform.  His clients include "high net worth" individuals/family offices, private equity funds, and closely-held businesses.

Outside of the office, Steve has contributed time to many committees and Boards.  Currently, he serves on the Board of Trustees at Christian Brothers University and the Americana Music Association.  Formerly, Steve was Chairman of the Board at Visible Music College, and on the Board of Directors at Triumph Bank.

To see the full press release on Steve’s award recognition from CBU, click here.




June 25, 2015

The Supreme Court has upheld the law in the case of King v Burwell, making the Affordable Care Act subsidies valid in all 50 states.  The ruling comes after much anticipation as noted in our blog post earlier this week. In a 6-3 decision, premium tax subsidies in both the state and federal marketplaces will continue to be available. This ruling is the second time the Supreme Court has ruled in favor of Obamacare, saving a major piece of the ACA.

Going forward businesses should also make sure they are in compliance with the ACA reporting requirements which will be due January 31st and February 28th of next year. 

The ACA continues to be ever-changing. Keep up to date by subscribing to our blog. For further questions regarding the ACA, please contact Steve Dunavant at sdunavant@cbiz.com or (901) 685.5575.




June 22, 2015

The Supreme Court is wrapping up its October 2015 term, and one of the expected key decisions is the court's ruling in KING V. BURWELL (14-114) by the end of this month. At issue is whether the IRS regulations extending tax-credit subsidies to coverage offered through federal Exchanges is appropriate.  Section 36B of the Internal Revenue Code was enacted as part of the Patient Protection and Affordable Care Act ("ACA") and authorizes federal tax-credit subsidies for health insurance acquired through an "Exchange established by the State under section 1311" of the ACA.

As of today, it appears that KING V. BURWELL will be part of the last grouping of decisions released.  Many analysts expect a split court with the outcome riding on Justices Kennedy and Roberts.  A finding that the IRS’s regulations are invalid would have a significant impact on 6.4 million Americans living in 34 states who have acquired health insurance through federal exchanges.  The NY Times recently published an article, The Health Care Supreme Court Case: Who Would Be Affected?, which summarizes the affects following a decision against subsidies in the federal marketplace.

Keep in mind the reform is ever-changing. To keep up to date, subscribe to our blog. For further questions regarding the ACA, please contact Steve Dunavant at sdunavant@cbiz.com or (901) 685.5575.

 




July 23, 2014

Yesterday was a very rare day with two appellate level courts reaching conflicting opinions on the same issue regarding the Affordable Care Act (ACA). At issue was whether federally facilitated exchanges could make premium assistance payments for a person enrolling for health insurance through a federally-facilitated exchange. The language in statute, Code § 36B, states that assistance payments may be made by “Exchange established by the State,” and makes no reference to federally facilitated exchanges. Federal regulations provided that the assistance payments also included federally-facilitated Exchanges. The Court of Appeals for the District of Columbia (Halbig, et al. v HHS) said “no” to the interpretation of the statute by the regulations, and the Court of Appeals for the Fourth Circuit (King, et al. v HHS) said “yes.”

Hello Supreme Court, here we go again.  Does this mean that those living in the District of Columbia will not receive assistance payments until the Supreme Court rules?

The Affordable Care Act sets in motion the largest change in employer-provided health benefits most of us have seen in our lifetime. Keep in mind the reform is ever-changing. To keep up to date subscribe to our blog. For further questions regarding the ACA, please contact Steve Dunavant atsdunavant@cbiz.comor (901) 685-5575.




June 26, 2014

“One’s an outlier, a few many be a passing fad, but over 50 is the beginning of an industry trend.” Eric Grossman, National Exchange Leader at Mercer

Reuters is predicting 2014 to be a “watershed” year. Over 65 employers are moving to private exchanges, with over 1,000,000 active employees due to participate. Like the Health Insurance Marketplace (i.e., the public exchanges), private exchanges are marketplaces of health insurance and other employee benefit products where employers may purchase the health insurance. Then, the employees can choose from a health plan provided.

Unlike the public, governmental exchanges, there is no governmental subsidy to purchase insurance for those who meet the salary guidelines under the ACA. Instead, there is an employer subsidy to purchase insurance that meets the ACA requirements as well as any state insurance regulations. This shifting in the cost and risk of health insurance allows employers to control their bottom line, while shifting the costs to their employees. Under the private exchanges, employers’ former duties of plan design and other insurance relationships are now outsourced. However, employers will still have to face communication challenges, such as monitoring employees’ relationship and understanding of the exchanges.

What are the benefits of private exchanges?

  • Negotiating Leverage
  • Competition
  • Product Commoditization
  • Administrative Streamlining
  • Cost Trend Control (risk pooling)
  • Cost Trend Control (defined contribution)
CBIZ offers not only a mid to large market private health care exchange, but also a custom version for employers with 25 to 100 employees. Keep an eye on our blog for an upcoming post on CBIZ Choice, our own private exchange. For all questions regarding private exchanges or the Affordable Care Act, please contact Steve Dunavant at sdunavant@cbiz.com or (901) 685-5575.  

 




June 20, 2014

What has been delayed for employers?

Employer Shared Responsibility Requirement Provisions: No reporting until calendar year 2015

  • Delayed until January 1, 2015 for large employers with 100 or more employees.  There is a potential excise tax penalty for failure to offer minimum essential coverage (MEC) at an affordable rate:

1. "No coverage” Penalty ($2000): Failure to offer MEC to 95% (70% for 2015) of full-time employees working 30+ hours

2. “Inadequate or Unaffordable” Penalty ($3000): Coverage fails to meet minimum value standard or is unaffordable

Transition relief is only available if the non-calendar year plan year has not been changed since December 27, 2012.

  • Delayed until 2016 for small employers with 50-99 employees. There is a potential excise tax penalty for failure to offer minimum essential coverage (MEC) at an affordable rate:

1. “No coverage” Penalty ($2000): Failure to offer MEC to 95% of full-time employees working 30+ hours

2.  “Inadequate or Unaffordable” Penalty ($3000): Coverage fails to meet minimum value standard or is unaffordable

To qualify, employer must not have materially reduced the health benefits offered as of February 9, 2014.

What has been delayed for individuals?

Individual Mandate Penalties for Failure to Maintain MEC: Provisions Delayed until October 1, 2016

 Individual Mandate Penalties

What has NOT been delayed?

Group Health Plan Mandates: For plan years beginning on or after January 1, 2014, all group health plans, including grandfathered and non-grandfathered plans, must include these mandates:

  • Ban on pre-existing condition exclusion limitations on anyone
  • Extension of dependent coverage until age 26
  • Full implementation of ban on annual or lifetime limits for essential health services
  • Increased limit in outcome-based incentives/disincentives permitted in wellness programs from 20% to 30%; or, up to 50% for tobacco-free programs
  • Ban on waiting periods exceeding 90 days (60 days if using 1st of the month eligibility)
  • Inclusion of essential benefit coverage, providing a specified actuarial value, and cost-sharing limitations by insurers in small group and individual markets, and large group markets via state marketplaces
The Affordable Care Act sets in motion the largest change in employer-provided health benefits most of us have seen in our lifetime. Keep in mind the reform is ever-changing. To keep up to date subscribe to our blog. For further questions regarding the ACA, please contact Steve Dunavant at sdunavant@cbiz.com or (901) 685-5575.



June 10, 2014

The Memphis office of CBIZ MHM hosted our bi-annual CFO Conference on Tuesday, June 3 at the FedEx Institute of Technology on the University of Memphis campus.

We have hosted these half-day conferences since the Fall of 2012 in hopes to both further the professional education of CPAs as well as to offer thought leadership to the financial leaders in the Memphis community.

Tuesday's event focused on the CFO's role in mergers and acquisitions.

"The interest of the Memphis financial community is of the greatest importance to us as we plan for our future CFO Conferences. We noted the high-level of concentration surrounding the M&A process in our past evaluations, particularly in the role of the chief financial officer," comments Megan Murdock, Practice Development Manager.

As a result, the event highlighted the M&A transaction process with presentations from Atlanta-based Doug Hubert of De NES Partners, LLC, Tampa-based Dave Enick of CBIZ MHM, and our own Steve Dunavant, Managing Director.

The program closed with a panel of local CFOs including Steve Martin of TruckPro, David Dunavant of Monogram Food Solutions, and Joe Lyons of Barr Brands International. This session was moderated by Eustis Corrigan, Senior Managing Director of CBIZ MHM Memphis.

Perhaps he said it best in his closing remarks, "I think the key takeaway we can share with our respective organizations is that the CFO is a trusted advisor on both sides of the deal."

We are already planning for the next CFO Conference to take place on November 11th. For more information regarding this conference as well as our past conferences, follow @CBIZCFOConf on Twitter and use #CFOConf.




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