Wednesday, November 25, 2009

Insurance Continuing Education - Elevation Certificates

An Elevation Certificate (EC) is mandatory on Post-FIRM construction, but is optional on Pre-FIRM construction.  It is required by the NFIP so that it can be certified by the NFIP as to the lowest floor of a building so that the policy can be properly rated:


The EC is to be completed by a land surveyor, engineer or architect who is authorized to certify elevation information when it is required for Zones A1-A30, AE, AH, A(with base flood elevations), V1-V30, VE and V (with BFEs). Community officials who are authorized to complete this form may do so also.  For Zones AO and A (without BFEs) a building official, a property owner, or an owner's representative may also provide the information on this certification.  If the community is a CRS participating community, building elevation information may be available through the community official.

The lowest adjacent grade and diagram number are required for all new business applications effective on or after October 1, 1997 if the elevation certification date is on or after that date.


Pre-FIRM construction can be elevation rated using the Post-FIRM EC rates, which are more favorable if the lowest floor of the building is at or above the BFE for the community.  Generally, the lowest floor level of a Pre-FIRM building is below the BFE, and it would not benefit the insured to pay the cost of the EC in an attempt to secure a later rate, but this is an insured's option.


The EC is optional on all Post-FIRM and Pre-FIRM construction located in AR and AR dual Zones.  The decision to obtain an EC and to request Post-FIRM rating is at the discretion of the insured.  The EC includes the AR and AR dual Zone elevation requirements.

The producer is to attach the original of the completed EC to the Application.  A photocopy is to be forwarded to the policyholder and a copy is retained by the producer.


All new business application, including transfer of business, for elevation rated risks with a policy effective date of 1/1/07, or later, must be submitted with at least two recent photographs that show the front and back of the building and are taken and dated within 90 days of the submission date.  If the building is a split-level or has multi-level areas at ground level, at least two additional photographs showing views of both sides of the building must be submitted.

This requirement applies to all renewal and endorsement transactions adding elevation rating effective on or after 1/1/07.

The photographs must be submitted on the Building Photographs form that is part of the Elevation Certificate, and must include the date the photographs were taken.  All photographs must measure at least 3" x 3" and provide a good, clear image of the building's distinguishing features.  Analog or digital photographs are acceptable.  Color photographs are preferred.

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Tuesday, November 17, 2009

Deploy Your Enrolled Agent Continuing Education as a Restaurant Industry Expert

Every restaurant you enter represents an opportunity to expand your business as an enrolled agent. Owners of restaurants have plenty of tax issues that they're seldom prepared to address. They need tax professionals with the highest level of expertise. That's what the enrolled agent designation represents. You can start on the road to helping them by conveying that enrolled agents are the only tax practitioners specifically licensed by the IRS.

To demonstrate your particular competence for the restaurant industry, relay to prospective clients your knowledge about tip income. This is a common tax accounting headache for restaurant owners that you learn from your enrolled agent continuing education.

Employees who receive more than per month in tips are required to report the total to their employers.

This situation most often occurs in the restaurant industry, but is also applicable to other types of businesses. A restaurant owner must adjust income tax withholding on the wages of employees who report tips. In addition, an employer is responsible for withholding and remitting Social Security and Medicare taxes on the tip income of workers.

Any uncollected taxes on reported tip income are withheld from future paychecks.

However, a worker can give money to an employer at any time during the year to cover required taxes. The employee's W-2 indicates any Social Security and Medicare taxes for tip income that was not collected. If this happens, your tax CPE teaches you to make an adjustment on the employer's quarterly payroll report for the uncollected amount. The worker is then liable for uncollected payroll taxes. But businesses are still responsible for the employer share of Social Security and Medicare taxes plus other taxes associated with payroll.

Information covered in your enrolled agent CPE allows you to help a restaurant owner with the payroll issues incurred from employee-reported tip income. Employers use Form 4137 to disclose the tip income reported by employees. A recent revision to this form requires the employer's tax ID number. This permits the IRS to engage in collection of the employer part of Social Security and Medicare taxes on reported tip income.

You enrolled agent training is especially important when restaurant employees report total tip income that's less than 8 percent of gross receipts for the business. This requires allocating the deficient amount among the W-2s of all employees. A system of reporting allocated tips is usually based upon each employee's share of total hours or gross receipts.

Restaurants have a special requirement of reporting tips annually on Form 8027. One of these forms is required for each location where more than 10 people are employed working a total of more than 80 hours per day.

These big demands of restaurants related to payroll and tipping of employees are just right for enrolled agents to address. The business owners benefit and your tax practice grows from a focus on such high level use of your enrolled agent expertise.

IRS Circular 230 Disclosure

Pursuant to the requirements of the Internal Revenue Service Circular 230, we inform you that, to the extent any advice relating to a Federal tax issue is contained in this communication, including in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax related penalties that may be imposed on you or any other person under the Internal Revenue Code, or (b) promoting, marketing or recommending to another person any transaction or matter addressed in this communication.


Monday, November 9, 2009

Orthopedics hyperguide application imparts global physicians a Continuous Medical Education

Vindico, as a company is the synonym for quality and successful medical activities in New Jersey. With the advent of technology, Vindico has rightly launched a mobile application to provide the practicing physicians the daily updates in the healthcare industry. The application when launched on your Smartphone gives the user, an unlimited database of knowledge and information. Besides the immense knowledge in the form of online lectures, podcasts and also with an option of engaging tutorials, the application gives the choice of evaluating oneself in the acquired knowledge by taking up tests and getting the score of the performance. It is of high priority that the practicing medical professionals upgrade their knowledge to enhance their services to their patients.

The very purpose of CME is to deliver the healthcare professionals with the most recent advancements in clinical relevancy, verified medical facts and productive way of using the available resources.

All of these updates aim at achieving enhanced patient care and awareness and better medical knowledge for the physicians. This app is designed to achieve these goals in a convenient way.

At the launch of ‘Orthopedic hyperguide’ application, you are prompted for your login details. After supplying the credentials, the user is taken to the home page where you can start off your learning process in a very effective manner. Each post will brief its own learning objectives and keeps you on to explore the advancements happening in the medical field. The faculty detail of that respective chapter is also highlighted for reader’s benefit. To sum-up, the orthopedic hyperguide is designed to best for regular usage. Keeping up with the medical related information even on the move is a tedious factor without this mobile app. Not only is the learning aspect is a wonder, but also taking up a test and to keep track of the score is made possible to assist the physicians to earn a CME certificate. With a lot of tutorials taking place to deliver the medical practitioners the new and evolved medical aspects, these tutorials and lectures are all available on the Smartphone at their finger tips. The developers of this app, though from a through technical back ground have put in their extra hours and efforts in understanding how exactly the Continual Medical Education works and its significance in the medical industry. These aspects are understood in a module wise to create an app that knows all the issues it might encounter while a medical professional operates the app.

The app is capable of processing and supporting a varied multiple data formats such as audio, video and text files. Another noteworthy achievement from the developers is the video streaming feature on the mobile device, which is accomplished using Darwin streaming server and through a network control protocol namely Real Time Streaming Protocol abbreviated as RTSP. Such high end technology resources are used wisely to frame this app to perfection.

Medical education in virtual world demands different types of data files and all these are available on common platforms including Blackberry and iPhone. With the CME certification kept in a high priority, the incomplete and completed quizzes are kept track off to enable the physicians to earn their CME credits. If a user performs satisfactorily in these quizzes, the CME certificate will be emailed to them with no delay.