Children as Dependents, Kiddie Tax, and College Tax Planning Strategies – Updated

Back in 2014, we authored this article explaining why higher income parents may be well served to gift appreciated investments to their children and then have the children use the proceeds to pay for college.  The article further explained how taxpayers who faced alternative minimum tax (AMT) received no tax benefit from claiming their children as [...]

Why Many Parents Should Reconsider Covering College-aged or Adult Children on their Health Insurance

Parents generally believe that the longer they can claim their children as dependents, the more tax savings they will accrue.  This is a misleading fallacy for most high-income families.  The reality is that most parents with more than $200,000 of annual income get zero tax benefit from their children and may continue to get limited [...]

The Tax Saving Opportunity of a Lifetime for Early Retirees

Like it or not, the Affordable Care Act will again rule the health insurance marketplace in 2018 regardless of what happens in Congress with tax legislation or whether the individual mandate holds up over the coming weeks.  Also like it or not, there has been a dramatic increase in insurance premiums from the onset of [...]

Important Health Insurance Changes for Small Business Owners

Many Americans are conditioned to treat employer-provided health insurance as an entitlement.  This long-standing attitude stems from a system that, for decades, has precluded a large segment of the population from finding reasonably priced health insurance on their own.  Anyone with a previous victory over cancer or a child with diabetes likely knows from experience [...]

Income Planning for the New Health Insurance Subsidies

It is estimated that nearly 26 million Americans will be eligible for some form of health insurance subsidy starting in 2014 under the Affordable Care Act.  For individuals and families with incomes well in excess of 4x the federal poverty line, these subsidies will be a non-event.  However, there are several situations where the subsidies [...]

Choosing a Health Insurance Policy In the New Environment

Despite significant technology glitches, the new health insurance exchanges are open to the public and many Americans are now faced with the challenge of making heads or tails of the options.  In addition to a plethora of choices, consumers are confronted with the interaction of federal subsidies which impacts the decision and can create planning [...]

By |Insurance Planning|0 Comments

How Obamacare Impacts You

For many individuals under the age of 65, the world of health insurance is about to become significantly more complex.  On October 1, the new health insurance exchanges, a result of the Affordable Care Act (ACA or “Obamacare”), will publish […]

By |Insurance Planning|0 Comments