Report Life Changes to the Marketplace

 If you enrolled in insurance coverage through the Health Insurance Marketplace , you are required to report changes to the Marketplace when they happen, like changes to your household income or family size, because they may affect your eligibility for the advance payments of the premium tax credits.

Make A Wise Choice When Selecting A Tax Preparer!

While there is still time before the next tax filing season, choosing a return preparer now allows more time for taxpayers to consider appropriate options and to find and talk with prospective tax preparers rather than during tax season when they’re most busy.

How Your Income Affects Your Premium Tax Credit

Here at Taxmasters, we are dedicated to providing you with year long content through our blog!  Remember, if you have any issues that you need to have deatl with, we are located at 561 N. 13th St. in Terre Haute, Indiana to serve all of your tax and representation needs! This week, we will discuss the Premium Tax Credit and how your income aaffects it!

Job Search Expenses May Be Deductible

 People often change their job in the summer. If you look for a job in the same line of work, you may be able to deduct some of your job search costs. Here are some key tax facts you should know about if you search for a new job:

Key Tax Tips on the Tax Effects of Divorce or Separation

 Income tax may be the last thing on your mind after a divorce or separation. However, these events can have a big impact on your taxes. Alimony and a name change are just a few items you may need to consider. Here are some key tax tips to keep in mind if you get divorced or separated.

Moving Expense Deduction

If you move your home, you may be able to deduct the cost of the move on your federal tax return next year. This may apply if you move to start a new job, or to work at the same job in a new location. In order to deduct your moving expenses, your move must meet three requirements:

10 Tax Tips About Amended Tax Returns

 We all make mistakes so don’t panic if you made one on your tax return. Here at Taxmasters, we can file an amended return if you need to fix an error. We can also amend your tax return if you forgot to claim a tax credit or deduction. Here are ten tips  from Taxmasters if you need to amend your federal tax return.