How the Affordable Care Act (Obamacare) affects your tax return

December 15, 2015 The Individual Shared Responsibility Provision What this means for you and your family Under the Affordable Care Act, the Federal government, State governments, insurers, employers, and individuals share the responsibility for health insurance coverage beginning in 2014. Many people already have qualifying health insurance coverage (called minimum essential coverage) and do not […]

Year-End IRA Reminders

Individual Retirement Accounts are an important way to save for retirement. If you have an IRA or may open one soon, there are some key year-end rules that you should know. Here are the top four reminders on IRAs from the IRS: 1. Know the limits.  You can contribute up to a maximum of $5,500 ($6,500 […]

Retirees: Take Required Retirement Plan Distributions by Dec. 31

IRS YouTube Videos: Required Withdrawals from Your IRA: English | Spanish | ASL Podcasts: Required Withdrawals from Your IRA: English | Spanish IR-2014-112, Dec. 8, 2014 WASHINGTON — The Internal Revenue Service today reminded taxpayers born before July 1, 1944, that they generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement […]

Same sex marriage is now the law in South Carolina

November 20, 2014 Who would have thunk it?  Not so long ago it seemed like South Carolina would be the last state in the union to recognize or allow same sex marriage.  Now it won’t be long before we wonder what all the fuss was about. According to news reports, the first same sex marriage […]

South Carolina ranked 16th best place to retire

October 22, 2014 ranked all 50 states on their potential to provide a good experience for retirees.  South Carolina came in number 16, Alaska came in last place, Hawaii came in first place despite their high cost of living. The rankings considered factors such as the senior population, economics, crime, weather and life expectancy. […]

Is same sex marriage now legal in South Carolina?

October 6, 2014 The United States Supreme Court announced today that it has declined to intervene in a few same sex marriage cases that came before it. The supreme court’s refusal to hear the state of Virginia’s appeal of a court ruling allowing same sex marriages means Virginia must recognize same sex marriage.  Since South […]

The Individual Shared Responsibility Payment

September 16, 2014 Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act requires each individual to: Maintain a minimum level of health care coverage – known as minimum essential coverage, or Qualify for an exemption, or Make an individual shared responsibility payment when filing their federal income tax returns. Minimum essential […]

IRS Scam Phone Calls Continue; Five Easy Ways to Spot Fake Calls

WASHINGTON — The Internal Revenue Service issued a consumer alert today providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS. These callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con […]

The IRS adopts the Taxpayer Bill of Rights

Each and every taxpayer has rights they should be aware of when dealing with the IRS. That’s why the Internal Revenue Service adopted the Taxpayer Bill of Rights. The Taxpayer Bill of Rights provides you with a better understanding of your rights. While these rights always existed, they are now grouped into 10 broad categories, […]

Sales tax free weekend in South Carolina this Friday thru Sunday

This weekend, the 6% state sales and use tax, and any applicable local sales and use tax, will not be imposed on clothing, clothing accessories (e.g., hats, scarves, hosiery, and handbags), footwear, school supplies (e.g., pens, pencils, paper, binders, notebooks, books, bookbags, lunchboxes, and calculators), computers, printers and printer supplies, computer software, and bath wash […]