Health Care Reform

No Health Coverage? How to Know if You Qualify for an Exemption

Most people must have health insurance coverage in 2014 or pay a penalty fee with the 2014 income tax return. The fee (also known as “the penalty,” the “individual shared responsibility payment,” or the “individual mandate”) is based on your … read more

Don’t Pay Obamacare Penalty: Plans that Count as Health Coverage

To avoid the 2014 penalty fee (also known as “the penalty,” the “individual shared responsibility payment,” or the “individual mandate”) for being uncovered, you must have health insurance that qualifies as minimum essential coverage. Certain health plans qualify as minimum … read more

Coming Oh, So Soon: The Obamacare Penalty Fee

The long awaited and much discussed Obamacare penalty fee (also known as “the penalty,” the “individual shared responsibility payment,” or the “individual mandate”) is coming to your 2014 tax return and will be charged for the months in 2014 that … read more

IRS Releases Health Care Information Reporting Draft Forms

The Affordable Care Act is requiring nonexempt individuals to have minimum essential coverage or to pay the individual shared responsibility payment. On July 24, the IRS released the draft forms that the providers of health care must use to fulfill … read more

How to Take Advantage of the Small Business Health Care Tax Credit

The Affordable Care Act has small business owners wondering how to take advantage of this tax credit. So, how do you know if your business qualifies? To qualify for a small business tax credit of up to 50% (35% for … read more

Health Insurance Premium Tax Credits for Victims of Domestic Violence

Whenever there is a substantial change in tax law, there are always issues that surface that were, perhaps, not originally anticipated.  As previously noted, certain taxpayers may be eligible to receive a premium tax credit for health insurance in 2014. … read more

How Can a Change in Income Have Unexpected Consequences?

Do you feel like you are unique? Don’t follow the crowd? Go your own way? Well, if you went against your norm and followed the pack and were one of the 7.1 million people who signed up for health insurance … read more

Affordable Care Act: Two Year Extension for Individuals

The Obama administration recently announced a two year extension for individual health insurance policies that do not meet the requirements of the Affordable Care Act. The cancellation last fall of at least 4.7 million individual policies was one of the … read more

Do You Have Healthcare Coverage?

If not, you can get your healthcare coverage through the Health Insurance Marketplace. But you don’t have much time left! The open enrollment period to purchase health insurance coverage for 2014 through the Health Insurance Marketplace runs until March 31, … read more

Individual Health Care Choices for 2014

Either you have health care coverage in 2014, or you do not – those are the two choices that are available.  If you have health care coverage, it must be qualifying coverage.  And if you do not have coverage, you … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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