People who don't have health insurance from work can buy health coverage under the Affordable Care Act, also known as Obamacare. The premiums are made affordable by a premium subsidy in the form of a tax credit calculated off your income relative to [...]
Late Enrollment Penalty On Health Insurance
A new health care bill American Health Care Act passed in the House. Just like the new tax plan outline, who knows whether it will pass in the Senate or what will change. From the previous post Health Insurance As A Tax we came to know that health [...]
ACA Self-Employed Health Insurance In H&R Block Software
Last time when I looked at how different tax software handled the circular calculation of the ACA tax credit and theself-employed health insurance tax deduction, H&R Block software failed at the task. See Tax Software Bake-Off: Self-Employed [...]
Tax Filing For Self-Employed Health Insurance Through ACA
This post is brought to you by TurboTax. While this post was sponsored by TurboTax, all content and opinions expressed here are strictly my own. When you are self-employed, unless you still get health insurance through an employer, government, or [...]
Tax Software Bake-Off: Self-Employed Health Insurance and ACA Premium Tax Credit
Here's an update on how different tax software handle the issue of self-employed health insurance deduction and the premium tax credit under the Affordable Care Act. First a quick recap. If you are self-employed and you buy health insurance from [...]
IRS Guidance On Circular Reference in Obamacare Premium Subsidy and Deduction
Some of you may remember this post I wrote last year: Circular Reference In Self-Employed Health Insurance Deduction Under Obamacare Premium Subsidy. It pointed out a circular reference math problem between the premium subsidy under Obamacare and the [...]
What’s My Marginal Tax Rate?
[Note from Editor: This is a guest post from reader Bob's not my name.] Did you know that the highest marginal tax rates are paid by families with students in college? The modern tax code has made it very difficult for Americans to know their [...]
Cost-Sharing Subsidy Under Obamacare ACA
Today we look into a different subsidy under Obamacare: cost-sharing subsidy. It doesn't lower your premium but it gives you a better plan. A better plan means a lower deductible, lower co-pays, and a lower out-of-pocket maximum. It's only [...]
Effective Tax Rates Under Obamacare Premium Subsidy
The previous post Converting to Roth and Harvesting Capital Gains Under Obamacare Premium Subsidy shows when you are getting a premium subsidy for buying health insurance on the exchange under Obamacare, you face a marginal tax rate of about 25-30% [...]
