Tax Filing Season and Tax Law Changes for 2015

Tax laws undergo some minor changes every year, such as inflation adjustments, renewal of deductions, new taxes, and tax increases. As the 2015 tax filing season has started, it is important to stay informed on the latest changes to the tax code and how they can affect you. This article will explore three key areas where some of the biggest changes have been made to the Internal Revenue Code (IRC). Affordable Care Act Changes for 2015 The Affordable Care Act is the law of the land that requires most individuals to have health insurance or risk paying a tax penalty. Per the federal health law’s individual mandate, individuals above certain income thresholds should get health insurance coverage if they are not covered by public programs such as Medicare and Medicaid. If health coverage is not supplied through his or her job, an individual may choose to purchase an individual private policy or get covered under the state-operated insurance marketplace. Those who do not have the minimum level of coverage should be wary because they will be subjected to IRS penalties at the end of the tax year. Here is a brief summary of the non-compliance penalties: the penalty for the …

Fiduciary Duty

Fiduciary duty-two simple words, yet oh so powerful. Many different types of professionals owe a fiduciary duty to someone-for example, lawyers to their clients, trustees to their beneficiaries, and corporate officers to their shareholders.Two Critically Important: The U.S. Supreme Court has determined that financial advisers registered under the Investment Advisers Act of 1940 (“Act”) are fiduciaries. The word fiduciary comes from the Latin word for “trust.” A fiduciary must act for the benefit of the person to whom he owes fiduciary duties, to the exclusion of any contrary interest. Many financial services companies intentionally avoid registering their financial advisers under the “Act” for one simple reason-to avoid fiduciary duty. That is right-they do not want to be obligated by law to act in the best interest of clients. Let us go back to the example of the financial adviser who recommended the higher cost, higher commission mutual fund. If the financial adviser were registered under the Act the financial adviser would be obligated to act in the best interest of the client and would be obligated to recommend the lower cost solution. Interestingly, the financial adviser would be prohibited by law to accept a commission. That is right. A financial … www.oralporn Apk Clans Mp3 Wover Desain Rumah Anda Svetogama Bloglow Movie Explore Street Wize UPL 24 XmodApps Free Seo Tools Download Apk Android Apk Center SEO Navi