January 31st, 2016

TAX TIP OF THE DAY... Obamacare 2015 penalties for not having health insurance.

The greater of:
1) $325 per adult and $162.50 per child under age 18
2) 2% of household income over a certain dollar threshhold that varies based upon # of household members and filing status.

Penalties are prorated based upon the number months of being uninsured.

WHAT YOU NEED TO KNOW:  There are various ways out of this penalty based upon "hardships".


SHARE WITH A FRIEND. 
If you need tax help... www.baboiancpa.com