Tag Archive: tax credit

Jul 06 2015

Health Insurance: Supreme Court Preserves Marketplaces

By John Crabtree The Supreme Court recently announced their decision upholding tax subsidies to help people purchase individual health insurance plans through a federal health insurance marketplace. The Supreme Court made the right decision, preserving provisions of the Affordable Care Act that have been so crucial in providing access to more affordable health care coverage …

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Permanent link to this article: http://www.easttexasreview.com/health-insurance-supreme-court-preserves-marketplaces/

Nov 23 2013

Understanding the ‘Kiddie Tax’

For something whose nickname sounds so innocent, the “kiddie tax” certainly can wreak havoc on unprepared taxpayers’ yearly returns. Congress first introduced the kiddie tax as part of the Tax Reform Act of 1986 to discourage wealthy parents from sheltering their investment income in accounts under their children’s names, thereby avoiding paying taxes on the …

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Permanent link to this article: http://www.easttexasreview.com/understanding-the-kiddie-tax-2/

Oct 09 2013

Lower income? Don’t pass up the saver’s credit

In 2002, Congress passed legislation to create an income tax credit designed to encourage lower- and middle-income people to save money for retirement. The saver’s credit, worth up to $1,000 a year for individuals ($2,000 for couples filing jointly), rewards people for contributing to an IRA or 401(k) plan. benefit from the saver’s credit are …

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Permanent link to this article: http://www.easttexasreview.com/lower-income-dont-pass-up-the-savers-credit/