Mileage Logs

When compiling your tax documents remember that…….yes….the IRS wants you to keep track of the mileage for business, rental, etc use. Here’s what they want (in written form) for your records.  If you get audited they may ask to see it. Which vehicle and for each Date: the address and mileage from place to place […]

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2018 Inflation Adjusted Amounts

Here are the updated amounts for some Hot Items for 2018 Health Savings Accounts Contributions For those with an Individual High Deductible Health Plan : $3,450 For those with a Family High Deductible Health Plan: $6,900 Extra $1,000 for those age 55 and older IRA Contribution Limits $5,500 plus $1,000 if over 50  

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Open Enrollment for Healthcare

Enrollment for healthcare for the 2018 year is between November 1 and December 15, 2017.  Go to to enroll or to specify if you want to Keep or Change your plan if you are already enrolled. You may be eligible for a Premium Tax Credit which means you don’t have to pay your entire […]

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Year-End Tax Tips

Now that 2017 is coming to an end, here are some things to consider: If you qualify to have a Health Savings Account you need to OPEN it by the end of the tax year. Make charitable contributions and have the necessary proof. If you bunch your itemized deductions every other year: Make sure you […]

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Tax breaks for HSAs

IF you qualify to have an HSA, then you have until December 31st to open it.  Some employers have an HSA as an element of the benefit package but don’t despair if that isn’t the case for you…. YOU TOO MAY BE ABLE TO HAVE AN HSA!   Yay! First the bad news (let’s get that […]

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Proof of Insurance-Form 1095s

The IRS has delayed the mandatory date that employers have to mail out the forms that prove you were covered by medical insurance. These forms are needed to file your 2016 taxes. The new date they must be mailed out by is March 2, 2017. If you know, for sure, which months you and your […]

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Good news! If you missed the 12/15 deadline to sign up for medical coverage to begin on 1/1/17 then you are in luck. announced that they have extended the deadline to sign up until 12/19/16 11:59 PM PST. Why is this good news?  Well, there are penalties for not having medical coverage. Depending on […]

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Deducting mileage

There are lots of ways you can deduct mileage.  To do so though, you need to be able to substantiate that deduction. How do you do it? A mileage log for each vehicle including the Date, Destination, Business Purpose, Starting & Stopping Odometer Readings and Miles for that trip. Also keep track of business vs. […]

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Advance Payments of the Premium Tax Credit

Time is running out if you received advance payments of the premium tax credit in 2015 and have not filed your 2015 tax return yet. You must file your 2015 return and reconcile any advance credit payments you received in 2015 in order to help prevent losing eligibility for future premium assistance. The IRS is sending […]

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Vets fee deductible? Ummm….no…sorry

Well, a few days ago I gave you a list of common, and sometimes, not so common, Qualified Medical Expenses that you may be able to deduct on Schedule A of your Form 1040. Thought you might like a list of some NONDEDUCTIBLE items. Enjoy!  Or, I guess, sorry Child care for a healthy baby/child […]

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