Tweet Do you or your spouse have a workplace retirement plan? If so, being an active participant in that plan may affect your ability to deduct contributions to your traditional IRA. The following illustrates the phase out thresholds for 2013 (Filing Status MAGI Deduction Permitted): Single $59,000 or less = 100% Deduction $59,000 to $69,000 [...]
Tweet That is the word from IRS and various other governmental agencies these days. The IRS was announced yesterday that processing of tax returns has been delayed from the original opening date of January 21st until January 28, possibly February 4th. Systems were in the midst of being updated to accommodate electronic filing as well [...]
Tweet We have not tested this calculator, however you may find it helpful (eas) ******************************************************************************************** The Henry J. Kaiser Family Foundation has a healthcare subsidy calculator available to illustrate health insurance premiums and subsidies for people purchasing insurance on their own in the new health insurance exchanges or Marketplaces. With this calculator, you can enter [...]
Tweet Obamacare is very complicated. The law itself is filled with technical areas in need of correction. Time will tell if they can get things right. (eas) ********************************************************************************************* from NATP Tax Pro Weekly Recent articles have flooded the internet regarding the term “family glitch” and its potential impact on leaving many children without coverage based [...]
IRS Making Tax Season Preparations (and Changes)
Tweet Look for less person-to-person contact at IRS as they head into the business of enforcing Obama-care. Following is an update of what is coming as of 1/1/14 eas *********************************************************************************************** The IRS recently shared some of the changes they are making to their procedures in anticipation of the tax filing season. The following are the [...]
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Tweet A message from Governor Rick Snyder to the Federal government… (eas) ************************************************************************************************ Washington is in “shutdown” mode. Michigan government is working for the people of our state. Governor Rick Snyder spoke out about the shutdown and has a message for Washington: Take a look at how we do things in Michigan, come to the [...]
Tweet If you have not yet provided notice to your employees (whether you offer insurance or not) and need help with this process, please give us a call. eas ************************************************************************************************* By Sam Baker, The Hill The Obama administration is delaying ObamaCare enrollment for small businesses and Spanish speakers. Small businesses will not be able to [...]
