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Tina L. Moe, C.P.A., CGMA, formed A.C.T. Services in 2002, and began building
her business. Her practice has grown to a clientele more than 1,200 clients and a
team of more than a dozen staff members. Tina attributes her business growth
to being proactive with her clients, maintaining affordability and accessibility of
the business owner herself.
Tina is a member of the American Institute of Certified Public Accountants (AICPA)
and the Indiana CPA Society.
Contact her at:
www.actservices-inc.comand on
Watch Tina’s video series
2.5% of your income, whichever is greater.
Once you calculate those amounts, you take the
greater of the two and divide it by 12 to convert
to a monthly penalty amount. Next, you’ll take
this monthly amount and multiply it times the
number of months in which you, your spouse
and dependents did not have health insurance
during the year. That will give you your penalty
amount to report on your 1040.
There is a bit of good news here. There are
many exemptions to this penalty and, about
12 million tax payers claimed a health care
coverage exemption on their 2014 tax return.
Are you wondering if you may qualify for an
exemption? Be sure to check back for part 2 of
this 4 part series to learn more.
Be sure to visitmywebsite formore informationon this tax topic and more.
SOAR TO SUCCESS
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Core Business Strategy