Don’t jump through hoops to opt out of the 2021 Advance Child Tax Credit. You may miss out on tax benefits if you do. Do nothing and accept the money.
California ACA Health Insurance Premium Subsidy
California offers premium assistance for ACA health insurance to some residents who don’t qualify for the federal subsidy.
ACA Health Insurance: Price To Cover Two People Versus Just One
Surprisingly it can cost more to cover just one person on ACA health insurance than covering two people.
When ACA Tax Credit Makes Your Premium Nearly Double Or Go To Zero
When you receive ACA premium tax credit, the gap in the premium between the benchmark Silver plan and the plan you choose can make a big difference.
How To File EITC and Child Tax Credit For Free: TurboTax Edition
Stop paying $200 to file your taxes just to receive Earned Income Tax Credit and Child Tax Credit. Here’s how to do it for free with TurboTax.
Receive EITC, Contribute to Traditional 401k Not Roth 401k
If you receive EITC or the ACA subsidy, you should contribute to the Traditional 401k, not to the Roth 401k.
IRS Guidance On Circular Reference in ACA Premium Subsidy and Deduction
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.
What’s My Marginal Tax Rate?
Your marginal tax rate isn’t just the listed rate in the tax brackets table. Many phaseouts increases your marginal tax rate.
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 circumstances. In addition, you may think you are achieving financial independence from your […]
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 ever receive it? I bet you didn’t. I […]
Refundable and Non-Refundable Tax Credit in Charts
This article explains the difference between refundable and non-refundable tax credits with illustrative charts.