Category: Current Events + Relevance
Tax Law Changes in 2013 from the Affordable Care Act (ACA) That Affect Higher Income Earners
With all the discussion about the Health Care laws that are being monitored by the IRS, just what are the tax implications for the 2013 tax year? Following are three key changes you should know about the Affordable Care Act (ACA) as it relates to your individual income tax return. 1.) increase in the “medical expense deduction floor”, 2.) additional 0.09 percent Medicare tax for “high income” taxpayers, 3.) 3.8 percent Medicare surtax on Net Investment income for “high income” taxpayers.
October 3, 2013 | Continue Reading
Congress Releases Goals of Potential Internet Sales Tax Law
The House Judiciary Committee released basic principles pertaining to the issue of Internet sales tax. To develop these principles, the Committee received input directly from taxpayers, industry and trade groups, and representatives of…
October 2, 2013 | Continue Reading
Affordable Care Act: Tax credits provide help in paying premiums
Federal income tax credits are designed to fill the gap between Medicaid and people who can afford to buy their own individual insurance or who belong to affordable health plans through their jobs. Use the calculator to determine if you could potentially get a credit.
