Intuit TurboTax created a health care calculator to help you find out if you’re eligible for health insurance through a state or federal Marketplace, Medicaid, or Medicare or if you’re already set with your existing health insurance plan. It will also let you know, if you qualify for a tax credit or subsidy from the government to help you purchase your health insurance. Check it out to learn how health care reform impacts you so that you can make the best decisions for your health and your wallet. Full story
The Affordable Care Act or healthcare reform was signed into law on March 23, 2010. Some tax provisions related to the law took affect in 2010, but the requirement to purchase health insurance and how the purchase relates to your taxes doesn’t go into effect until 2014. Still, Americans remain confused about when they need to purchase health insurance and when the requirement to purchase health insurance impacts their taxes. Our experts at the American Tax and Financial Center at TurboTax put together this helpful infographic timeline to dispel the myths about healthcare reform and let you know when the key dates and events take place.
The new healthcare reform law, also known as the Affordable Care Act, brings with it some terms that may be unfamiliar. Not to worry – we’re here to help decode the jargon. Full story
Beginning in 2014, you’ll start seeing some changes to your taxes if you purchase your healthcare coverage at a health insurance Exchange. This won’t affect your taxes if you are already covered by your employer, Medicare, or Medicaid. Full story
Starting to hear more about health care reform? You’re not alone. And you may be hearing some conflicting information about what you need to do and when you need to do it. At TurboTax, we’re here for you every step of the way so we’ve got the basic facts that you need to know. Full story
Tis the season to overindulge and eat too much. Well, before you try to deduct your gym membership dues there are some things you need to know. Michael Rubin explains requirements for deducting your weight loss expenses. Full story
Affordable Care Act, Obamacare, or the individual health insurance mandate, they have been all the buzz today, since the individual health insurance mandate was upheld today by a Supreme Court ruling. The individual insurance mandate aims to extend health insurance coverage to 30 million uninsured Americans, but how does that ruling impact your taxes today or even the next time you file your taxes?
Aaaah summer’s in the air. Time to get that sun-kissed skin. Well not so fast. Did you know you will pay an additional 10% federal excise tax if you go to a tanning salon to get that extra glow (guess that’s why Snooki said she tans naturally now)? Michael Rubin gives us the 411 on the Tanning Tax. Full story
Tax time is in full swing and if you are employed, you should have received your W-2 by the end of January. This year you may find something different on your form. Full story
Business owners and others are analyzing the healthcare reform law to see what new adjustments to expect to make the transition smoother. A new provision that is expected to start in 2012 might impact how small business owners do their taxes. Full story