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Hurry and File Your 2014 Return!
This past tax season, 1.8 million individuals received an Obamacare health insurance premium subsidy but did not file their 2014 tax return. The IRS found that about 40% of American households are at risk of losing their subsidy eligibility in 2016 due to filing late or incomplete returns, or not filing at all.  According to the IRS, in 2015 approximately 360,000 taxpayers received subsidies and filed for extensions until October 15th. Another 760,000 taxpayers filed their 2014 personal in...
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When can senior care be a tax deduction
In many households, some become the care provider of their elderly parents, spouses, and others who become incapable of caring for themselves. Whether you are the sole caregiver or you hire outside help, many of the expenses associated with this care can be deducted from your taxes.  In most households, the elderly individual is moved into a senior home out of medical necessity or when they are unable to safely live on their own. In these cases the costs of the facility, meals, and medical...
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