ACA

Senate Passes the Tax Bill, What's Next?

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Why is it so important that Senate Passes the Tax Bill?

Tax Cuts and Jobs Act Heads To Reconciliation

So, Senate passes the tax bill. Yes, the Senate GOP finally brought their version of the Tax Cuts and Jobs Act out of committee and before the full Senate. Tax Reform, another name for the bill, passed by a narrow margin of 51-49 down party lines. The only dissenting Republican Senator was Bob Corker of Tennessee, who tweets that he reluctantly cast his vote as “no” over long-term fiscal issues.

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Seniors With Medical Deductions Beware, Affordable Care Act Will Trump Them!

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Seniors With Medical Deductions

One example of itemizing deductions includes the cost of medical and dental expenses. For seniors with medical deductions, these include health insurance premiums. In the past, the medical expense deduction had a limit to the amount that exceeds 7.5% of a taxpayer’s adjusted gross income (AGI). I know this is not the most exciting subject; yet, is important that you pay attention to this change.

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Health Insurance: Ways to Deduct

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Health insurance premiums, especially in the light of the Affordable Care Act have risen dramatically. It is one of the largest expenses that most individuals pay. The cost of health insurance is allowed as part of … Read More