The triple tax-free benefits of an HSA are easily negated by other factors. Don’t choose an HSA-eligible health insurance plan only to contribute to an HSA.
You must pay back some of the ACA health insurance subsidy when your income is higher than estimated. See when you may benefit from the repayment cap.
If you’re self-employed and you buy health insurance from the ACA exchange, here’s how to use TurboTax to calculate the subsidy and tax deduction.
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.
Compare your income with the Federal Poverty Level (FPL) to calculate the premium subsidy tax credit for health insuance under the Affordable Care Act.
The Inflation Reduction Act extended the ACA premium subsidy cliff to a slope through 2025. The cliff will return in 2026 unless a new law is enacted.
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’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.
Use this calculator to see the marginal tax rate on Roth conversions and long-term capital gains when you also receive a subsidy on ACA health insurance.
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.
California offers premium assistance for ACA health insurance to some residents who don’t qualify for the federal subsidy.
Surprisingly it can cost more to cover just one person on ACA health insurance than covering two people.