ACA Premium Tax Credit Could Cause a Scare

ACA Premium Tax Credit Could Cause a Scare
I had a bit of a scare filling out a client’s Form 8962, which calculates the Premium Tax Credit (PTC) related to health insurance plans bought on the Health Insurance Exchanges. I thought I’d spread the news along for anyone who falls into this same situation over the next few years (unless the Exchanges totally ...

Medical Device Excise Tax: The Jackalope Hunt That Went Too Far

Medical Device Excise Tax: The Jackalope Hunt That Went Too Far
The medical world is financially screwed up. In my own recent past, my wife got a brace (that didn’t work) from an Urgent Care. Had they billed it to me correctly, it would have cost me zero dollars. If I bought the piece of crap at Walgreens, it would have cost about $30 dollars. Instead, some ...

Tax Inversions, Patriotism, and Screwing Up Obamacare

Tax Inversions, Patriotism, and Screwing Up Obamacare
While I was looking through my analytics yesterday, I found an odd search query that had somehow brought someone to my page: “more patriotic-sounding alternative to tax invetsion [sp].” Maybe if they had spelled “inversion” right it would have come up with some witty list of patriotic euphemisms. The best idea I can come up with is “The Eagle’s Plight.” ...

Exchanges, Halbig and Unintended Consequences

Exchanges, Halbig and Unintended Consequences
When I was young, my brother and I would hide our Battle Beasts, prepped to ambush whatever unwitting toy came by. Sometimes we would hide them a bit too well, never to find them again. We were always devastated by the loss. “We didn’t mean to lose them,” we’d think. “And we certainly won’t lose them ...

Obamacare Penalty 2014 Update

Obamacare Penalty 2014 Update
The Congressional Budget Office (CBO) is always good place for incomprehensively large numbers. If anyone knows of a study that shows the point where budget numbers stop losing meaning, please hook me up. For this month’s so-huge-it’s-almost-meaningless report, the CBO has released it’s Obamacare Penalty 2014 update. Before I get into the actual report, here’s a brief background ...

DC Health Insurance Exchange Looking for Tax Revenue

DC Health Insurance Exchange Looking for Tax Revenue
Here’s a conundrum: You’re given millions of dollars to set up a Health Insurance Exchange with the understanding that it must be self-sufficient within a year of use; however, if you charge the users of the Health Insurance Exchange enough to keep the website running, the exchange will go under quicker than a Rolex store ...

Whose taxes were raised?

Whose taxes were raised?
My friend asked me the other day who got hit with the tax increases due to the fiscal cliff deal. I told him taxes went up for those making over 200k single and 250k married. He said that didn’t sound right, he thought it was 400k. He’s right. And I’m right. It’s another example of ...

Taxageddon 2013—Obamacare Medicare Tax

Taxageddon 2013—Obamacare Medicare Tax
Another day, another tax increase scheduled for 1/1/2013. We’ve already discussed the Social Security tax, the individual income tax rates, and briefly touched on estate taxes. Today, we’ll discuss a little more in depth the Medicare Investment Tax. While there are other random things scheduled to happen when Taxageddon comes, this will probably be my ...

We’ll Find Out What’s In It…I Think

We'll Find Out What's In It...I Think
The Patient Protection and Affordable Care Act, better known as Obamacare, just can’t stay out of the news. Obviously the biggest update is the Supreme Court’s decision to review the law, though I have a feeling that even if they rule 9-0 in favor of the thing it’s just going to keep on coming up ...