Tag Archives: Health Insurance

Since the enactment of the Affordable Care Act, your taxes are now affected by your health care coverage status. The new policy states that all Americans must have qualified health insurance, though there are a few circumstances in which an exception may apply. Generally, 3/4ths of the taxpayers who file a return will only be […]

If this is the first year you’ve been affected by the Affordable Care Act, you may not really know what to expect at tax time. For starters, the bill mandates that all taxpayers have health insurance, and offers a credit to help offset the cost of monthly premiums. According to the IRS, approximately 80% of […]

Are you planning for retirement by saving now? While you probably know that it’s a smart investment in your future, you may not be aware that retirement savings can net you some extra benefits at tax time. Retirement savings can positively affect your tax situation, though you are still responsible for any penalties or fees […]

Moderate income families understand that health insurance premiums can be expensive, but there are helpful tax credits that can offset some of the costs associated with them. In order for these credits to be claimed at tax time there are three requirements. You must receive your coverage through the Health Insurance Marketplace. Plans can be […]

This tax year, many taxpayers will notice a new penalty if they chose to opt out of having health care coverage. This is due to new rules under the Affordable Care Act that state that all Americans must have health insurance. The penalties can be quite large. For example, a wealthy family of five can […]