by Arthur Geffen | Jan 6, 2015 | Affordable HCA, Income Tax
The Patient Protection and Affordable Care Act – also referred to as Obamacare – established a new federal income tax penalty for failure to carry so-called “minimum essential coverage.” Last year was the introductory year for the penalty, which can...
by Arthur Geffen | Oct 31, 2014 | Income Tax
The Internal Revenue Service has announced the annual inflation adjustments for a number of provisions for the year 2015, including tax rate schedules, tax tables and cost-of-living adjustments for certain tax items. These are the applicable numbers for the tax...
by Arthur Geffen | Jul 18, 2014 | Income Tax
Unlike the federal government, which has a series of tax brackets that apply to all U.S. taxpayers, state-level income tax rates are not standardized. In fact, several states do not even have an income tax but rely on other sources of funds to provide...
by Arthur Geffen | Jul 9, 2014 | Income Tax
Whether you like to play the ponies, roll the dice or pull the slots, your gambling winnings are taxable. You must report all your gambling income on your tax return. If you’re a casual gambler, odds are good that these basic tax tips can help you at tax time next...
by Arthur Geffen | Jun 27, 2014 | Income Tax
Kansas has a problem. In April and May, the state planned to collect $651 million from personal income tax. But instead, it received only $369 million. In 2012, Kansas lawmakers passed a large and rather unusual income tax cut. It was expected to reduce state...
by Arthur Geffen | Jun 20, 2014 | Income Tax, Off Shore, Offshore
The days of hiding assets in accounts overseas are coming to an end, says the Internal Revenue Service. On Wednesday, the IRS announced changes to its 5-year-old campaign to force greater tax compliance from millions of Americans with undisclosed foreign...
