Any US tax preparers in town?

sryoder

sryoder

Cortez Cruiser
After getting a nasty little surprise while doing my income taxes yesterday (to wit: turns out we're not eligible for the "Affordable Health Care" subsidy and we'll have to foot the entire bill for our 2014 health coverage), I'd like to find a professional to look at my return and see if there's anywhere we might have missed some kind of tax break in our preparations.

You can respond to this thread or e-mail me directly at:

stephendotyoderatearthlinkdotnet

Thanks
 
T

Terry C

Guest
Did you apply on the ACA website and got turned down for subsidy? The enrollment period is over now for 2015 coverage. But you can still set up an account and save the info. I would trust the site more that what the IRS tells you. They screwed it up already....
https://www.healthcare.gov/
 
sryoder

sryoder

Cortez Cruiser
Terry C: My official home state is Florida. We had to buy through the Healthcare marketplace. I was approved for a prepaid subsidy based on my estimate of what my income would be in 2014. But, we had a couple of things happen in 2014 that we hadn't anticipated when I made the estimate. This increased our income by 18%. The new income level apparently, according to the IRS, made us ineligible for any subsidy and so, we have to pay back the substantial amount that the Feds paid to Florida Blue Cross during the year. Apparently, incomes that are 3.6 x the poverty level are eligible for a substantial subsidy but if you hit 4 x, you get squat. Next year I'll be eligible for Medicare so it won't matter so much but my wife still has a few years to go.
 
K

Kea

Guest
If you are that close to the cut off points, have considered ways to reduce your 2014 income? You can still contribute to an IRA (or HSA depending on your insurance).
 
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