Health Care Reform

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Taxpayers must report health care coverage on 2018 tax return

By |2019-03-07T16:27:39-04:00March 11th, 2019|Health Care Reform, Individual Income Tax|

IRS.gov  -  Tax Reform Tax Tip 2019-20 As taxpayers are completing their 2018 tax returns this year, they must complete the lines related to health care. For tax year 2018, the IRS will not consider a return complete and accurate if individuals do not do one of the following on [...]

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The Individual Shared Responsibility Provision – The Basics

By |2015-03-20T19:38:07-04:00March 20th, 2015|Affordable Care / ObamaCare, Health Care Reform, Individual Income Tax|

Source: IRS.gov  The individual shared responsibility provision requires that you and each member of your family have qualifying health insurance, a health coverage exemption, or make a payment when you file. If you, your spouse and dependents had health insurance coverage all year, you will indicate this by simply checking [...]

2014 Year-End Tax Planning for Businesses

By |2014-11-10T17:42:14-04:00November 10th, 2014|Employees, Employers, Health Care Reform, Individual Income Tax|

2014 Year-End Tax Planning for Businesses  Source: KaneCPAs.com  In recent years, end of year tax planning for businesses has been complicated by uncertainty over the availability of many tax incentives.  The 2014 year-end is no different.  In the early hours of January 1, 2013, the Senate passed the American Taxpayer [...]

2014 Tax Planning for Individuals

By |2014-11-10T17:28:30-04:00November 10th, 2014|Health Care Reform, Individual Income Tax, Retirement|

2014 Tax Planning for Individuals  Source: KaneCPAs.com  Traditional year-end planning techniques remain important for 2014. As always, tax planning requires a combination of multi-layered strategies, taking into account a variety of possible scenarios and outcomes.  These income deferral/exclusion and deduction/credit acceleration techniques may be used to reduce your income tax [...]

Tax Changes for 2014

By |2014-01-12T14:06:30-04:00January 12th, 2014|Corporate Income Tax, Employees, Employers, Foreign Income and Accounts, Health Care Reform, Individual Income Tax|

Welcome 2014! As the new year rolls around, it's always a sure bet that there will be changes to the current tax law and 2014 is no different. From health savings accounts to retirement contributions and standard deductions, here's a checklist of tax changes to help you plan the year [...]

Affordable Care Act Tax Provisions

By |2010-06-30T09:29:50-04:00June 30th, 2010|Health Care Reform|

Source: IRS The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that take effect this year and more that will be implemented during the next several years. The following is a list of provisions now in effect; additional information will be added to this [...]