IRS.gov - Tax Reform Tax Tip 2019-20 As taxpayers are completing their 2018 tax returns this year, they must complete the lines related to health care. For tax year 2018, the IRS will not consider a return complete and accurate if individuals do not do one of the following on [...]
Source: IRS.gov The individual shared responsibility provision requires that you and each member of your family have qualifying health insurance, a health coverage exemption, or make a payment when you file. If you, your spouse and dependents had health insurance coverage all year, you will indicate this by simply checking [...]
2014 Year-End Tax Planning for Businesses Source: KaneCPAs.com In recent years, end of year tax planning for businesses has been complicated by uncertainty over the availability of many tax incentives. The 2014 year-end is no different. In the early hours of January 1, 2013, the Senate passed the American Taxpayer [...]
2014 Tax Planning for Individuals Source: KaneCPAs.com Traditional year-end planning techniques remain important for 2014. As always, tax planning requires a combination of multi-layered strategies, taking into account a variety of possible scenarios and outcomes. These income deferral/exclusion and deduction/credit acceleration techniques may be used to reduce your income tax [...]
Welcome 2014! As the new year rolls around, it's always a sure bet that there will be changes to the current tax law and 2014 is no different. From health savings accounts to retirement contributions and standard deductions, here's a checklist of tax changes to help you plan the year [...]
Under federal health insurance legislation, some employers will owe penalties for not offering health plans or for offering unacceptable plans to employees. This portion of the law was scheduled to take effect in 2014, but the Obama Administration has delayed any penalties until 2015. Thus, business owners have an [...]
source: IRS.gov If you're self-employed and paying for medical, dental or long-term care insurance, the IRS wants to remind you about a special tax deduction for some insurance premiums paid for you, your spouse, and your dependents. Starting in tax year 2011, this deduction is no longer allowed on Schedule [...]
INFORMATION COURTESY OF DASKAL BOLTON LLP CLICK HERE TO ACCESS THE ORIGINAL ARTICLE FOUND IN THEIR JUNE 17, 2010 NEWSLETTER The Patient Protection and Affordable Care Act and the related Health Care and Education Reconciliation Act (which are collectively referred to as the healthcare legislation) were signed into law in March. [...]
Source: IRS The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that take effect this year and more that will be implemented during the next several years. The following is a list of provisions now in effect; additional information will be added to this [...]
