If you or some members of your family had health insurance during 2015, you’ll want to keep an eye out for Form 1095, which should arrive in the mail sometime in early 2016. Make sure to keep this form with your W-2s and other income tax forms that your tax preparer will need.
Depending on what type of health insurance you had or were offered during 2015, you will get one of three 1095 forms.
You’re welcoming a new child into your family. Congratulations! This young person will bring many things into your life – joy, frustration, love, anxiety, additional costs, and, thankfully, additional tax benefits. Here are some of the ways your tax return may change this year: Read more
Prior to 2014, taxpayers who wished to claim the home office deduction had to fill out a lengthy form (Form 8829) and often make complex calculations in order to do so. In an effort to lighten the burden on small, home-based businesses, however, the IRS introduced a simplified method for taking the home office deduction, which became available for the first time for tax year 2013. This new, simplified method makes it easy to claim the home office deduction to which you’re entitled. Read more
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