Qualifying for tax credits to defray the cost of coverage through the exchanges is fairly straightforward for people still earning W-2 income. If you've retired you may be doing some part-time freelance work, collecting rental income, a pension or Social Security benefits or earning interest on your portfolio. If you're in the midst of retiring or downshifting to a second career and expect your income to be much different in 2014, there's more good news, noted Mike Tucker, an accountant with T.M. Byxbee Co. in Hamden, Conn. When signing up for coverage under the new exchanges, he said, consumers will be able to estimate their 2014 income rather than having to use backward-looking tax returns.
Source: http://feedproxy.google.com/~r/chicagotribune/yourmoney/~3/P_GKDZjqLQ8/story01.htm
No comments:
Post a Comment