Tax Credit

2017 ObamaCare Premium Tax Credit (PTC) to Offset Impact of Health Insurance Premiums


[Updated for 2016 and 2017 qualifying income ranges] Under new health care laws (a.k.a ObamaCare or the Affordable Health Care Act) a new tax credit has been made available to millions of Americans who purchase insurance via  health insurance exchanges or marketplaces. You have to purchase the insurance via these official exchanges or marketplaces to get the […]

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2016 vs. 2017 Obamacare Health Insurance Subsidies and Tax Credits


Despite ObamaCare, formally known as the Affordable Care Act, having been around for several years now there is still considerable uncertainty around the various tax credits and subsidies on premiums, deductibles, co-payments, and coinsurance. The value of these credits and subsidies are generally dependent on your modified adjusted gross income (MAGI) and family size and can significantly impact […]

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Fiscal Cliff: Payroll Credit and Income Tax Cut Extensions, Unemployment Insurance and Reserve Bank Actions


The American economy is experiencing a seeming reversal of fortune following significant internal and external headwinds. The stock market, which tends to be a leading indicator of the economy, is back to 2011 levels. GDP and employment figures are also showing signs of slowing down. Some experts, including former President Clinton, have even suggested that […]

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2016-2017 American Opportunity Education Tax Credit (AOTC) Extension – Eligibility, Income and Phase-out Limits


Congress and the Obama administration reached an agreement a few years ago that extended the American Opportunity Tax Credit (AOTC) through 2018. The AOTC allows parents and students to receive a tax credit of up to $2,500 for qualified college expenses, based on certain income limits. The AOTC replaced the smaller Hope credit (which would have been […]

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2017 vs 2018 Child Tax Credit Qualification and Income Thresholds with Trump GOP Tax Reform Updates


[Trump/GOP Tax Reforms and impact to CTC] As part of GOP tax reform bills to support President Trump’s tax reform agenda, there were provisions in place to increase the child tax credit (CTC) from the current $1,000 to $1,600 (House bill) or to $2,000 (Senate bill). However in the final/reconciled bill the CTC is set to $2,000 per […]

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