ABLE Accounts for Disabled Individuals

The Tax Increase Prevention Act of 2014 (TIPA), signed into law by the President on December 19, 2014, provides for a new type of tax-advantaged savings program to help meet the financial needs of disabled individuals called the “Achieving a Better Life Experience” program. Effective for tax years beginning after December 31, 2014, states will Read more about ABLE Accounts for Disabled Individuals[…]

Shared Responsibility Payment

Effective for the 2014 tax year, the Affordable Care Act requires all individuals to carry health insurance or make a shared responsibility payment, unless they are exempt. Employer-provided health insurance as well as Medicare and Medicaid will satisfy the individual mandate. How much is the penalty? The shared responsibility payment for 2014 is the greater Read more about Shared Responsibility Payment[…]