Healthcare

Unemployment Strategy

May 5, 2010

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Today TaxMama wants to discuss unemployment issues. Too often I learn during tax season, that a client didn’t work and didn’t collect unemployment insurance, or other compensation to which they were entitled. This especially true of folks who are not comfortable with English. Since we’re heading for a season when many people’s jobs may end… [...]

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COBRA Subsidy Eligibility Period Extended to May 31

April 30, 2010

WASHINGTON — Workers who lose their jobs during April and May may qualify for a 65-percent subsidy on their COBRA health insurance premiums, according to the Internal Revenue Service. The American Recovery and Reinvestment Act established this subsidy to help workers who lost their jobs as a result of the recession maintain their employer sponsored [...]

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Small Business Health Care Tax Credit

April 16, 2010

Courtesy of IRS Health coverage legislation enacted this year includes a Small Business Health Care Tax Credit to help small businesses and small tax-exempt organizations afford the cost of covering their workers.

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Substance Abuse

April 15, 2010

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Today TaxMama hears from Chris in the TaxQuips Forum, with a common problem. “It was mentioned by TaxMama on a news website today that money spent on substance abuse treatment is deductible as medical expenses. My 24 year old son has been in different forms of treatment over the last 4 years. While he was a dependant [...]

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Domestic Partner Benefits

April 13, 2010

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Today TaxMama hears from PS from California in the TaxQuips Forum, with this question. “Prior to getting married, my girlfriend had me on her medical benefits through her employer because it was significantly less than through my work.  The benefits I received are considered “income” by Federal govt and are actually added to her taxable wages.  [...]

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Ask TaxMama Issue 547 – Tax Freedom Day

April 9, 2010

Dear Family, Today is National Tax Freedom Day, according to The Tax Foundation, who tracks such things. This year’s Tax Freedom Day is one day later than in 2009, but more than two weeks earlier than in 2007. Though, since each state has their own tax rate, your tax freedom day may come sooner,…or later. [...]

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Proof of Nothing

November 17, 2009

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Today TaxMama hears from Maure in California with this dilemma. “I haven’t worked since 2006, and have been exempt from paying taxes. So I have no tax returns. However, for a Hospital’s Medical Assistance Program for my bill, I need to show recent 1040, and/or proof of no/low income. How do I get such documentation [...]

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