- Ways To Deduct Health Insurance
- Health insurance premiums, especially in the wake of the “Affordable Care Act,” have risen dramatically and are one of the largest expenses that most individuals pay. Although the cost of health insurance is allowed as part of an individual’s medical deductions when itemizing deductions, only the amount of total medical expenses that exceeds 7.5% of the taxpayer’s adjusted gross income (AGI) is deductible. Itemized deductions are detailed on the Schedule A form that is included in your Form 1040 tax return
- Addressing the Accountant Shortage In a Changing World
- The accounting industry is facing its largest talent shortage in history. Learn how firms can appeal to Gen Z and Gen Alpha in this comprehensive guide.
- Your Tax Documents Should Be Arriving Soon
- To ensure individuals properly report all their income, the IRS has an ever-expanding series of information-reporting forms used to advise you and the IRS of your wages, retirement plan income, Social Security benefits, health insurance premium subsidies, stock sales, investment income, etc., for each tax year.
- Video Tips: Take Advantage of Your Saver's Tax Credit
- Low- and moderate-income taxpayers can save for retirement now and possibly earn a special tax credit in 2024 and years ahead.
- Death of a Loved One
- The death of a loved one is one of life’s most difficult times and a time for reflection and grieving. However, it also triggers unique financial and tax events that must be dealt with by the survivors. For a surviving spouse, this is an especially difficult time and can be devastating if the death was sudden with little or no time to make financial preparations.
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