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October 31, 2014     Heritage Florida Jewish News
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October 31, 2014

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PAGE 8B HERITAGE FLORIDA JEWISH NEWS, OCTOBER 31,2014 (Brandpoint)--Health in- Form 1095-A will also in- • Your annual householdestimated when you applied some simple questions. The insured individuals planning surance and income taxes, clude information you need income is 100 percent to 400 for marketplace insurance, program will complete the to claiman exemption tovisit once an unlikely pair, arenow for the premium tax credit, percent of the federal poverty your taxes may be impacted, calculations and tax forms close companions as a result a tax benefit to help pay for level. For the 2014 credit, If your actual income was to help you get every dollar to check if your situation of the Affordable Care Act's marketplace insurance. The that's $11,490 to $45,960 for less than estimated, you may you deserve." requires an exemption cer- insurance mandate that took credit amount is based on an individual. (Hawaii and qualify for a higher credit Ifyou plan to enroll in mar- tificate number (ECN). If so, effect Jan. 1, 2014. household size and income. Alaska residents are subject amount and therefore receive ketplace insurance during mail the paper application If you have health insur- In general, the lower your to different amounts.) a larger refund. On the other the next enrollment period, and supporting documenta- ance through the federal or a income, thehigheryourcredit • You cannot be claimed as hand, if your actual income Nov. 15, 2014, through Feb. tion to your marketplace now state-sponsoredmarketplace, amount, adependentonsomeoneelse's was more than the estimated 15, 2015, Dolmage recom- because it can take weeks to itmeansacoupleofimportant In order to qualify for the tax return, amount, you may need tomendscalculatingyourtaxes process.Afteryourapplication yet simple changes on your premium credit: • Your filing status gener- pay some of the credit back beforehand. "You'll need is accepted, you'll receive an next income tax return.• You must be ineligible for ally cannot be married filing at tax time. to enter some tax informa- ECN to report on your tax First, you'll receive a new government programs like separately. DIY tax solutions make tion on your marketplace return in order to avoid the tax form from your market- Medicare, MedicaidandCHIP. The credit can be received reporting marketplace insur- application. TaxACT makes individual shared responsibil- place around Jan. 31, 2015. • You cannot have era- in advance in order to reduce ance and the premium credit that easy. Complete the easy ity payment. Form 1095-A, Health Insur- ployer-sponsored insurance, the cost of your monthly a simple matter, interview and the program Learn more about the pre- ance Marketplace Statement, or the lowest-priced, self- premiums, oryou canwait to "You can still easily prepare will generate a HealthWatch mium tax credit at www.irs. will include the information covered plan meeting mini- claim it on your tax return to and file your own taxes," says report with all the tax infor- gov and you need to report on your mum essential requirements reduce your amount owed or Jessi Dolmage, spokesperson mation you need to apply for TogettheHealthWatchreport federal tax return in order offeredbyyouremployercosts increase your refund, for TaxACT. "Just enter Form insurance and the premium and fileyour federal taxes free to prove you have health morethan9.5percentofyour If your income or family 1095-A information whencredit." with TaxACT Free Edition, go insurance, annual household income, size is different thanwhat you the program asks and answer Dolmage also reminds un- to (BPT)--Do you believe The ploy is the latestvariation is about to be discharged scammeronline, notknowing member of the military and the most common types of members of the military con- ofsomefamiliarscams.Smart from the service and needs the scammer is only pretend- posts items for sale on the fraud is the best way to help tribute a great deal to society? people fallpreytoscams every money •to help pay for his or ing to be in the military. The Web. They may claim to be on protect yourself from con art- You're not alone; a 2013 Pew day, says Western Union, a her return to the U.S. Or, the scammer will sometimes use duty and out of the country,• ists, WesternUnionsays.Ifyou Research Center opinion poll leading money transfer corn- scammer may concoct a dif- pictures of actual military urgently needing to sell the believeyou'vebeenavictimof found that Americans of all pany. You can help protect ferent "emergency," such as personnel to seem even more item. Wanting to help out a fraud, act immediately; if the ages and walks of life placed yourself by remembering one an urgent need to purchase authentic. The crook culti- member of the military, vic- money transfer has not been military service at the top of important rule: never send something, help for their vatesonlinerelationshipsand timswiremoneytothescam:paid you can receive a refund. the list of 10 professions that money to anyone you haven't family, etc. They may even may even promise to marry met and never receive the Once the scammer picks up do the most good. Unfortu- already met in person, face claimtheywillgetreimbursed the victim when he or she items they believe they have thefunds, however, themoney nately, scammers are abusing to face. for the emergency expense returns home fromduty.After purchased.Another common is gone and you may not re- this wide-spread admiration Western Union cautions and will repay you when they a time, the scammer begins variationisanoffertorentthe ceive a refund. If you've been and posingas members of the consumers to be alert to returnhome.It'simportantto asking the victim for money military individual's house a victim of fraud, report it to militaryinordertotrickpeople these three common scams remember that the U.S. mili- fortraveloremergencies.The while they are away on duty. Western Union's fraud hotline into sending them money, involving scammerswho pose tary pays to transport service scammer may also promise to Scammers contact victims at (800) 448-1492, and report Byimpersonatingmembers as members of the military: members from overseas duty reimbursethevictimwhenhe through telephone, email, it to the authorities as well, ofthemilitary, scammersgain •The"emergency"scam-- back to the U.S. or she returns home. the Internet and snail mail, To learn more about how to credibilityandsympathyfrom The con artist may claim he • Online relationship • Internet purchase scare: and their tactics change recognize scares, visit www. well-intentioned Americans. or she is stationed overseas, scare--The victim meets the The scammer impersonates a constantly. Learning about (Brandpoint)--Most tax law changes don't affect the average taxpayer. That's for- tunate news, considering the U.S. averaged at least one tax law change per day every day between 2000 and 2012. Some tax changes gener- ally happen every year, such as inflation adjustments to standard deduction and exemption amounts. Others happen every few years, like expiration or renewal of cred- its and deductions, new taxes and tax increases. What can you do to ensure you maximize the benefit or minimize the negative impact .... niii~i9ii~iiiiiii~iiiiiiiiiii~ iii~iii~iiiiiiiiiiiiiiiiiiiiiii~iii~ii!~!~i~iiiii~ of tax law changes each year? or with a tax calculator like pired, although Congress may amount, which was based on pendent under 18, up to $285 It's quite simple, says TaxACT TaxACT' extendthem for 2014 returns, your best estimate of your . per family. Your tax program spokesperson Jessi Dolmage. tax-calculator. Those include the tuition householdincomeatthetime will ask simple questions to "DoadryrunofyourfederalWhether you start your and fees deduction, educator youappliedforinsurance,will calculate your payment. income tax return each fall," taxes early or wait until the expense deduction, deduction bereconciledwithyouractual If you qualify for an ex- Dolmage recommends. "DIY April 15,2015,deadline, here's for mortgage insurance pre- income reported on your tax emption, keep in mind some taxprogramsareupdatedwith alistofkeychangesthatcould miums, cancellation of some return. If your income or exemptions require you to the latest tax laws every fall impact your 2014 tax return: mortgage debt, nonbusiness household size changed since submit an application and so you can get an estimate • Personal and dependent energy property credit, and applying for insurance, so supporting documentation of your refund or liability exemptionsincreaseto$3,950 state and local sales tax de- can your credit amount. You before filing your tax return. as it currently stands. The per person, duction, may receive a larger refund Only paper applications are Q&A also reviews credits and • The 2014 standard de-• Did you purchase health if your income was less than being accepted by market- deductions you can still take duction is $6,200 for a single insurance from the federal estimated, or you may have to places, so processingcan take advantage of in the next few taxpayerand$9,100 forahead or a state-sponsored mar- pay some of the credit back if weeks. Once accepted, your months." of• household. The standard ketplace in 20147 If so, your your income was more than marketplace will issue an Youcandotaxplanningand deduction for married couples marketplace will send Form estimated, exemptioncertificatenumber calculateyour2014taxeswith filingjointlyalso increased to 1095-A by Jan. 31. Simply • If you didn't have mini- (ECN) thatyoureportonyour a DIY tax return preparation $12,400. enter the form information mum essential health insur- tax return in order to avoid solution (most are free to try) • Several benefits have ex- when your tax program asks anceforthreeormoremonths the penalty. for it. in 2014 and don't qualify Learn about more tax If you qualified for the for an exemption, you may law changes at www.irs. TRINITY PREP ....... premium tax credit toward pay a shared responsibility gov and ......... marketplace insurance, the payment. The penalty is the taxinfo. Visit ....... i .... information you need to re- higher of 1 percent of your and for portonyourreturnwillalsobe 2014 income or $95 per adult premium credit and exemp- on Form 1095-A. Your credit and $47.50 per uninsured de- tion information. ............. ~ ~~~ ~#~ ~ Every day that you're outside, you're exposed to dangerous, but invisible, ultraviolet (UV) sunlight. Left unprotected, prolonged exposure to UV radiation can seriously damage the eye, leading to cataracts, skin cancer around the eyelid and other eye disorders. Protecting your eyes is important to maintaining eye health now and in the future. Shield your eyes (and your famiiy's eyes) from harmful UV rays. Wear sunglasses with •axi•u• UV protection. ~ ~]~i~: ~¸ :~::~ ::~ ~ ~ ~ ~i~ ~'U~ ~::~¸ : ~:~::~: ; ~ ~in ~ :i~ ~ :: • i ~ ~ ~ ~i¸ i THEVISIONCOUNC!L