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 [...]
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 [...]
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 [...]
Stay Off the Obamacare ACA Premium Subsidy Cliff
I'm not buying health insurance on the exchange under the Affordable Care Act (ACA) just yet because I'm still working and getting health insurance through my employer. I still looked at the premiums offered on the exchange. When I retire I will buy [...]
How to Save $4,000 in Your Graduation Year — Part 1: Taxes
[This is a guest post from Bogleheads investment forum participant Bob's not my name.] If you are a college senior or if you graduated this year, pay attention. The year in which you finish college and enter the workforce presents unique tax [...]
Saver’s Credit Plays Hard to Get
Are you a saver? I bet you are. Did you know there's a tax credit called Saver's Credit that reduces your federal income tax if you save for retirement in an employer sponsored retirement plan (401k, 403b, etc.) or in an IRA? If you knew, did you [...]
Refundable and Non-Refundable Tax Credit in Charts
One thing I'd like to learn to do a better job of this year is to communicate more effectively with visuals. A good picture is worth 1,000 words. In some of my old posts, I wrote 1,000 words but people still keep asking the very question I attempted [...]
