Tag Archives: Medicare
Minimum Essential Coverage is the health care plan that meets the lowest requirements of the Affordable Care Act, and will help taxpayers avoid penalties assessed for not having insurance. Taxpayers must have minimum essential coverage during the tax year, or they can face a fee for each month that they aren’t covered. However, there is […]
— Read moreThe summer is a great time to pursue a job if you’re a student. You have more free time, you gain responsibility, and learn about the real working world. This also means you’ll have to pay taxes, just like every other employee. These taxes support local communities, state, and federal governments. Students who chose to […]
— Read moreWith the implementation of the Affordable Care Act, Americans who chose to opt out of health coverage will end up paying a rather high penalty. For a five person family with a high income, the penalty can max out at over $12,000 in 2014. This penalty is expected to rise significantly in 2015 and continue […]
— Read moreYou Can Still Claim Certain Deductions. Filing taxes is a stressful affair, causes anxiety and can be highly confusing. Should you take the standardized tax deduction of $6,200 for singles? Double that amount for couples. Itemizing your tax deductions may give you a bigger refund. Itemizing deductions will necessitate keeping all your medical, tax, and […]
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