Tag : taxes

Affordable Care Act and Your Tax Refund Modest Money4 Comments

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As the old saying goes, “The only guarantee in life is death and taxes.” While it may only be October, it is never too early to worry about your taxes.

Customers counting on their tax refund to catch up on bills, bolster their bank account, or just to buy themselves (or their family) something nice may be one of millions of Americans utilizing tax credits to help with the new health insurance premiums that follow the
Affordable Care Act. For them, it is definitely not too early to worry about taxes.

Should 2014 income end up higher than what originally expected upon signing along the dotted line for health insurance, a series of interconnected ties between the new health care laws and taxes may result in a reduced refund, or erase it completely. Something as
mundane as more overtime, a slight raise, higher sales and commissions this year than last can trigger unwanted responses when your tax refund is concerned.

The catch is when a worker’s income increases, their ability to qualify for additional tax credit decreases, or ceases completely. Whatever the difference is will be ripped from the refund, which results in not being able to purchase that new flat screen television, put…

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This entry was posted in Financial Advice, and tagged , Modest Money4 Comments
By : Adam | 17 Mar 2015
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small-business-tax-troubles

Accountants’ Advice on Small Business Tax Troubles

By : Adam | 30 Apr 2014

At this time of year, taxes are on a lot of people’s minds. For small business owners in particular it can be quite stressful. Check out the following infographic for some interest data about small business taxes. The data was compiled by surveying 400 accountants …

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taxes

You Can Call Me a Rocket Scientist, As I Did My Taxes!

By : Adam | 28 Mar 2014

The following is a guest post about taxes. If interested in submitting a guest post please read my guest post policy and then contact me. Taxes are so complicated. Doing taxes is just about the scariest thing ever. To make your life a little simpler, here …

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annuity-taxes

The Difference Between the Taxable & Non-Taxable Portions of Your Annuity

By : Adam | 23 Oct 2013

The following is a guest post about taxable portions of your annuity. If interested in submitting a guest post, please read my guest post policy and then contact me. Assuming you have a non-disability annuity that started after July 1986, then there are two parts …

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taxes-savings

Taxing Talk: How Taxes Affect Your Savings

By : Adam | 28 Aug 2013

The following is a guest post about how taxes affect your savings. If interested in submitting a guest post, please read my guest post policy and then contact me. Whether you’re trying to save the money to buy a new car, put down a deposit …

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income-tax

Paying For Self Employment Income Tax Year Round

By : Jeremy Biberdorf | 13 Dec 2012

Since 2005 I’ve been earning side income online. I’ve gotta say, it’s pretty nice to be getting that extra income each month. At times I’ve even relied on that money as my primary source of income. While the additional money is satisfying, there is one …

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tax-implications

Tax Implications Of Running A Blog

By : Jeremy Biberdorf | 3 Oct 2012

Check out my new guide for starting a blog to learn how to go about properly creating your own blog. As most of you know by now, Wednesday is when Modest Money forgets that it’s a personal finance blog and focuses on blogging related tips. …

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