Article Highlights: Adjusted Gross Inc Reporting Gambling Winnings Reporting Gambling Losses Netting Gambling Winnings & Losses Premium Tax Credit Game Show Winnings Medicare Premiums If you are a recreational gambler, there is a quirk in the tax law that can actually cause you to pay more for your health insurance if you have gambling winnings, […]

Article Highlights: Advance Premium Tax Credit Family Income Family Size Reporting Changes to the Marketplace Repayment of Credit Married Filing Separately If you are one of the many individuals or families who purchase their health insurance through the federal or a state government health insurance marketplace and are receiving an advance premium tax credit (subsidy […]

The Affordable Care Act (ACA), also referred to as Obamacare, imposes an individual mandate requiring all non-exempt US Citizens and legal residents to enroll in government-approved health insurance OR pay a penalty. The penalty will be collected through the individual’s income tax returns (Form 1040). You and each member of your family must have “minimum […]

Article Highlights: Small Employer Health Insurance Credit Credit Qualifications Administration Delays Availability from Government Marketplace until 2015  Beginning in 2010, the federal government offered small employers a tax credit as an incentive to provide health insurance to their employees. This credit was up to 35% of the employer’s contribution toward the cost of the employees’ […]