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- Understanding the Health Insurance Mandate
- As of 2014, the Affordable Care Act imposed the new requirement that all people in the United States, with certain exceptions, have minimum essential health care insurance or they will be subject to a penalty. How this affects your family will depend upon a number of issues. Penalty ends after 2018.
- How to Understand Common IRS Tax Terms
- When discussing taxes, reading tax related articles or instructions one needs to understand the lingo and acronyms used by tax professionals and authors to be able to grasp what they are saying. It can be difficult to understand tax strategies if you are not familiar with the basic terminologies used in taxation. The following provides you with the basic details associated with the most frequently encountered tax terms.
- Big Changes Ahead For How Alimony is Treated for Tax Purposes
- Alimony is the term used for payments to a separated spouse or ex-spouse as part of a divorce or separation agreement. Since 1985, to be alimony for tax purposes, the payments:
- Not-Being-Insured Penalty Eliminated
- Beginning in 2014, the Affordable Care Act, also known as Obamacare, imposed what a “share-responsibility payment” on taxpayers who did not sign up for minimum essential health coverage. This payment is essentially a penalty for not being insured.
- Cryptocurrencies and Your Taxes
- If you trade cryptocurrencies like Bitcoin you are required to report the transactions for tax purposes.
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