So Cal Mobile Tax Prep
Find me on:
  • Home
  • Services & Benefits
  • Contact
  • SCMTP Blog
  • FAQ
  • CLIENT PORTAL

Affordable Care Act (aka Obamacare)

1/20/2015

Comments

 
By now I'm sure most of you have heard at least a little something about the tax changes in relation to our new healthcare system.

The basic run down is if you don't buy insurance or qualify for an exception, you will owe a Shared Responsibility Payment on your annual tax return. Depending on family size and income this can get pricey. But what makes it even more expensive is that your tax preparer now has additional (and complicated) forms to complete to ensure that your return is accurate.

So not only is it possible for you to have a smaller refund or larger amount due but you'll also be paying more in tax prep fees this year. Try not to take it out on your tax person, though, its really not our fault. We are obligated to follow the law and we do our best to minimize the tax sting every year.

Remember the penalty only applies if you weren't covered by a healthcare plan.

For more information visit the IRS website's ACA page. If you need to enroll in a healthcare plan for 2015 visit Healthcare.gov or Covered California if you are a California resident.

And of course, you can always contact me with any questions!

Welcome to 2015!
Comments

      To Stay up to day on important tax information all year subscribe to our monthly newsletter.

    Subscribe to Newsletter

    Archives

    January 2018
    November 2017
    September 2017
    August 2017
    July 2017
    June 2017
    January 2017
    December 2016
    November 2016
    October 2016
    January 2015
    August 2013
    March 2013
    January 2013
    November 2012
    September 2012
    August 2012
    April 2012
    January 2012
    February 2011
    January 2011
    December 2010

    RSS Feed