What to Bring to Your Tax Preparer
Jan27

What to Bring to Your Tax Preparer

When you’re getting ready to meet with your tax preparer, having the necessary records and information with you will ensure that your meeting is a productive one. Proof of identification (photo ID) such as driver’s license, state-issued picture ID, military ID with picture, or U.S. passport Social Security cards for you, your spouse and dependents Birth dates for you, your spouse and dependents on the tax return Wage and...

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Why You Need An Emergency Fund
Jan26

Why You Need An Emergency Fund

An emergency fund refers to money purposefully set aside to cover unexpected financial surprises that are part of life but not part of the normal monthly expenses.  These “emergency” events can be costly and cause a great deal of emotional stress not to mention the stress caused by the event itself.  Some of the most common reasons people tap into their emergency fund include: Medical or dental emergency. Unexpected home...

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3 Premium Tax Credit Considerations

The Healthcare Marketplace open enrollment runs through January 31, 2016. After January 31, 2016, you will not be able to buy a Marketplace health insurance plan for the remainder of 2016 unless you have a qualifying life change. You may be subject to a tax penalty for every month you do not have minimum basic coverage or can’t claim an exemption. When you apply for assistance to help pay the health insurance premiums for...

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7 “Tying the Knot” Tax Tips for Newlyweds
Jan19

7 “Tying the Knot” Tax Tips for Newlyweds

It’s often said that marriage changes everything. If you were fortunate to tie the knot and get married in 2015, even if you were married on December 31, that’s your marital status for the entire year for tax purposes. Here are some helpful tips before filing your 2015 Tax Return. Report Name Change to the Social Security Administration and apply for a new Social Security Card by filing Form SS-5, Application for a Social...

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Open Enrollment Ending
Jan15

Open Enrollment Ending

Under the Affordable Care Act, an individual is required to have minimum essential health insurance coverage for the full year. If you don’t qualify for a health coverage exemption from the requirement, you may be required to pay a penalty (individual shared responsibility payment) for any month you don’t have coverage and can afford health insurance but choose not to get it for 2016 when you file your 2016 federal income...

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