As explained on the official government health care site, the Affordable Care Act has three goals: Make affordable health insurance available to more people. The law provides consumers with subsidies ("premium tax credits") that lower costs for households with incomes...
IRS
Annual Inflation Adjustments for 2023
The Internal Revenue Service has released the tax year 2023 annual inflation adjustments for dozens of tax provisions, including the tax rate schedules and other tax changes. Here are some of the key changes. Standard deduction The standard deduction for married...
How Do Taxes Work With Bonuses?
Bonuses, frequently given at the end of the year, are a popular "thank you" for a job well done, and smart business owners know they can build loyalty, helping retain the most productive employees. However, both owners and employees often misunderstand how taxes work...