Iowa allows a deduction in full for health insurance premiums paid with after-tax dollars. This sometimes creates questions about what exactly counts as a “health insurance premium.” For example, does dental insurance count? The short answer is, yes.
Can a non-resident take the deduction for health insurance premiums on their non-resident Iowa tax return? Yes.
Do I Have to Have Form 1095-A Before I Can File? The short answer is: YES!
Here are the questions this tax preparer is asking clients about the ACA
Robert Flach at his “The Tax Professional” blog asks the following question regarding Affordable Care Act penalties assessed on tax returns against people who do not carry health insurance: What is our legal responsibility as tax preparers when it comes to calculating the new convoluted and potentially expensive Obamacare penalty for clients who are not […]
It’s a holiday week, so I’m re-publishing popular blog posts from the past. This is a popular story about the deduction available on Iowa tax returns for after-tax insurance premiums. —– Originally published March 28, 2012 One overlooked deduction on Iowa tax returns is the deduction on Line 18 of the Iowa 1040, for health […]
It’s a holiday week so as usual I’m re-posting popular stories from the past. This story is about the deduction available in full on Iowa tax returns for health insurance premiums paid. —– Originally published March 28, 2012 One overlooked deduction on Iowa tax returns is the deduction on Line 18 of the Iowa 1040, […]
The IRS has released a streamlined procedure for recovering FICA taxes withheld on the pay of same-sex married couples in cases where benefits (typically health insurance) were counted as taxable income to an employee. Background Under tax law, employer-provided health insurance is considered a tax-free benefit as long as the insurance covers the employee, the […]
A website visitor asks the following: “I am in a same-sex marriage and am self-employed. If I put my spouse on an insurance policy, can I take the full cost of the insurance as a deduction for self-employed health insurance?” This is an excellent question. Let’s look at what the law says about a self-employed […]
Iowans can deduct, in full, insurance premiums paid with after-tax money.