You pay higher Medicare Part B and Part D premiums if your income exceeds certain thresholds. Here are the IRMAA income brackets for 2021 and 2022.
2020, 2021, and 2022 calendar year HSA contribution limits and HDHP qualifications for individual and family coverage. Small changes due to mild inflation.
President Biden’s COVID stimulus package American Rescue Plan turns the ACA premium subsidy cliff to a slope in 2021 & 2022. The cliff will return in 2023.
If you get health insurance from ACA, the government sets the percentages of income you are expected to contribute toward a benchmark policy.
If you withdrew from your retirement account due to COVID in 2020, follow this to get the special tax treatment in TurboTax and H&R Block tax software.
Although you will be required to submit more documentation, you should estimate your income as low as possible and get the highest premium subsidy upfront.
Follow these easy step-by-step explanation with screenshots when you enter the 1099-R form for your mega backdoor Roth into H&R Block tax software.
Follow these easy step-by-step explanation with screenshots when you enter the 1099-R form for your mega backdoor Roth into FreeTaxUSA.
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.
Many investors are confused when they report Backdoor Roth on their tax return. It’s very clean if you learn how to do it the easy way.
You need a Form 1116 when your total foreign taxes paid is over $300/$600. Here’s a walkthrough for how to do it in TurboTax and H&R Block software.
If you’re self-employed and you buy health insurance from the ACA exchange, here’s how to use H&R Block software to calculate the subsidy and tax deduction.