When & How to Sign Up for Medicare Parts A & B

As more individuals push off retirement and getting Social Security, many are in danger of missing the enrollment period for Medicare Part B. In most cases, if you don’t sign up for Part B when you’re first eligible, you’ll have … read more

Lose Your Medicare Card? Want a Social Security Estimate?

If you are a Medicare beneficiary and you have lost, damaged, or need to replace your Medicare card, you can easily order a replacement Medicare card using an online “my Social Security” account. If you are still working, use “my … read more

Key Dates & Milestones: Social Security, Pensions, IRAs, Medicare

There are many age-related financial and planning milestones that you need to be aware of in your sixties. Keep this list in mind. 59 ½ – Penalty Goes Away This is the age at which one can withdraw money from … read more

Don’t Miss the Health Insurance Deduction if You’re Self-Employed

There is an “above-the-line” deduction for health insurance premiums for those that are considered self-employed.  (By the way, this is self-employed as defined by the IRS, not by mortgage brokers, who appear to have a different definition.) The deduction is … read more

Patient Protection and Affordable Care Act – Part II

We will continue our discussion on the other three provisions of the Patient Protection and Affordable Care Act effective in 2013.  In Part I, we discussed the increase in the Medicare tax on high-income taxpayers.  Here we will be discussing … read more

Patient Protection and Affordable Care Act – New Taxes? Part I

Now that the Supreme Court has ruled that the Health Care Act (now known as the Affordable Care Act) has been declared constitutional except for the part that punishes states by eliminating existing Medicaid funding, we can begin to look … read more

5 Senior Citizen Income Tax Return Tips

This has become a particular area of interest due to the number of “baby boomers” turning 65 years of age in 2012 or shortly thereafter.  Here are 5 tax return tips to help you be prepared to file your 2012 … read more

Medicare – Some Things You Might Need To Know, But Do Not Want To Ask

Since I will be turning 65 in September, I will not be eligible to participate in my employer’s Health Savings Account effective September 1st. Therefore, I need to sign up for Medicare to provide my medical insurance coverage. It is … read more

Does Your S-Corp. Pay "Reasonable" Compensation?

Shareholders of an S-Corporation can generally receive distributions of profits without immediate tax consequences. However, the IRS has taken a long standing position that where the shareholder is also acting as an employee of the corporation, “reasonable” compensation must be … read more

Importance of Selecting a Knowledgeable Payroll Preparer

Payroll itself seems like it should be a relatively simple process.  So why should completing the payroll tax forms be complicated?  Why would an employer bother taking the time to investigate whether their payroll preparer is knowledgeable in this field? … 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 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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