Tax NFS

When Does the New ObamaCare Tax “Penalty” Come into Effect?
The fee for not complying with the ObamaCare Mandate will be paid on your 2014 federal tax returns. The income tax surtax at a rate of 1% or $95 in 2014.

You can reduce your taxable income by contributing money to a traditional individual retirement account (IRA). Contributions to traditional IRAs can be made as late as the first due date of a tax return.

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