You may already know that starting in 2014 most Americans are required to have health insurance under the Affordable Care Act, but did you know that individuals who do not have health insurance could face a tax penalty in 2015? For those who do not plan on purchasing insurance before the March 31, 2014 deadline, TurboTax created a penalty calculator to help you estimate how much your penalty will be for 2014.
To combat the ever increasing price of college education, the tax code provides some relief via education tax credits and deductions. Here’s what you need to know about the education tax credits and deductions that will save you money at tax-time. Full story
As the summer nears it’s end and kids start running off to school, you’re probably thinking that time is going to be at a premium. End of summer means the end of a casual lifestyle, even if you’re still working, when bosses are on vacation and employees are more relaxed. It’s also a perfect time to put a little extra work in this Labor Day to make sure you don’t have to labor nearly as hard. Full story
You might not know, but Obamacare, health care reform, and the Affordable Care Act all mean the same thing. They are the unofficial names for The Patient Protection and Affordable Care Act, a national health care plan signed into law by President Obama that aims to provide the majority of Americans with access to affordable health care. Full story
As a result of the recent U.S. Supreme Court decision to strike down part of the Defense of Marriage Act (DOMA) on June 26, the U.S. Treasury Department and the IRS announced today that same-sex couples legally married in states that recognize same sex marriage, will be treated as married for federal tax purposes. Full story
Congratulations on graduating college! Now that you’re done with school and ready to embark on life in the “real” world, it’s a good idea to get a handle on your tax situation. Here are 4 things you need to know about taxes as a college grad. Full story
Student loan interest increased dramatically on July 1, however President Obama signed the Student Loan Certainty Act of 2013, which will roll back student loan interest rates to the lower interest rates charged prior to July 1st. The recent signing of the Student Loan Certainty Act of 2013 will help save millions of students (and parents) money, but how do you save money on student loan interest at tax time?
Whether you’re uninsured or searching for more affordable health insurance, you will be able to shop for health insurance in state and federally run marketplaces beginning October 1, 2013. As time draws near, you may be wondering what you can do to get ready to purchase health insurance in the Health Insurance Marketplace. Our checklist will help you get ready: Full story
Obamacare? Healthcare reform? The Affordable Care Act? Not sure what you need to do and when you need to do it? If you are uninsured or looking for more affordable health care, here are a few key dates to add to your calendar: Full story
With another school year starting later this month, many families are going back to school shopping now. I wanted to share some ways you can save on your back to school shopping. Full story
The IRS officially opened for the 2014 tax season today and a common question asked… Full story
In a few days 2014 will be here and we are excited. With some big goals planned for this upcoming year, we’re doing a little bit of work now to ensure success. We’re taking some time to find ways to bump up our income and trim our family expenses. Full story
The IRS announced today that it will begin processing tax returns on 1/31/14. The good news for you? TurboTax is open for business and will begin accepting tax returns on January 2, 2014! Full story
Bonuses can change your tax situation depending how large the bonus and what methods employers use to tax the income. Find out how bonuses(supplemental income) are taxed. Full story