The IRS provided guidance on how to solve the circular reference math problem between the premium subsidy under Obamacare and the health care premium deduction for the self-employed.
Your marginal tax rate isn’t just the listed rate in the tax brackets table. Many phaseouts increases your marginal tax rate.
In addition to the premium subsidy under the ACA, you may qualify for the cost-sharing subsidy if your income is low enough.
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% for ordinary income and 10-15% for long-term capital gains, when normally ordinary income would be […]
If you are self-employed, you can potentially get both the subsidy tax credit and a deduction for your health care premium under Obamacare, but calculating the numbers can be tricky.
You will pay an extra 10-15% tax if you convert to Roth or realize capital gains while you receive the premium subsidy under the ACA.
If you can’t qualify for the premium subsidy under the ACA, if may be helpful to bunch up your income.
Married couples are at a disadvantage when it comes to getting the premium subsidy under the ACA.
This year’s flu shot campaign seems to have started earlier than previous years. My employer had the on-site flu shot clinics in mid-September. I got the email from HR but I didn’t pay attention to the dates. I thought it would be later in October or November; so I missed the on-site dates. Grocery stores, […]