Archive | Individual Tax


2016 Income Taxes: Obamacare & Trump’s Executive Order

2016 INCOME TAXES: OBAMACARE & TRUMP’S EXECUTIVE ORDER by Rick Howard, CMA, CPA 2/17/2017 The Affordable Care Act, referred to as “Obamacare”, imposes a penalty for taxpayers who do not have the required health care coverage.  President Trump signed an Executive Order directing the authority and discretion to “waive, defer, grant exemptions from, or delay […]

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2015 Tax Legislation Passed in Time for Christmas (and for Year-End Tax Planning)

UPDATE: 2015 Tax Legislation Passed on December 18, 2015… just in time for Christmas, and for your 2015 year-end tax planning. I expected Congress to pass legislation extending the 50+ key tax provisions (nick-named “extender tax provisions”), but my expectation was that it would be a one or two year extension.  That is what has […]

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Taking the Political Easy Path – Extender Tax Provisions Update

In an earlier post, I discussed the on-going issue with Congress where they continue to extend 50+ key tax provisions (nick-named “extender tax provisions”) for only one or two years, and then the process must be repeated. Why won’t Congress make the changes permanent? Because of politics. Specifically, these changes reduce tax revenue and increase […]

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Looking Great is Not Deductible!

Does your job require you to look great? We have been able to meet some great small business people, including those in sales or leadership positions. To do the job right, the individual needs to look their best. This may mean more expensive clothing, on-going grooming, staying fit, etc. To look your best… to look […]

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2014 Tax Filing Threshold

Obamacare, the Affordable Care Act, and Your Tax Return

Beginning in 2014, the Affordable Care Act (“ACA”), also referred to as Obamacare, mandates health insurance coverage. Businesses with 50 or more employees are mandated to provide health insurance coverage to their employees, or pay penalties. Individuals that are not provided health insurance coverage by their employer are mandated to obtain insurance coverage on their […]

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