Tax & Financial News of The Week

Merry Christmas, Happy Hanukkah, and an early Happy New Year! I hope everyone is enjoying the holiday season with family and friends and is getting some rest and relaxation in. I'm going to grab some R&R myself, so I will keep this week's edition brief. Without further ado, here's the weekly summary of financial stores and issues that matter to me.

 

A Christmas Day Look At Santa's Tax Bill. In this fun and light-hearted article, Kelly Phillips Erb (@taxgirl, writer for @Forbes) uses Santa to explain tax concepts like residency, charitable donations, and payroll taxes.

 

20 things you should do with your money before 2015. The new year is right around the corner, and right now, many people are thinking about their 2015 resolutions. You might even include a few money resolutions on your list. But you don’t have to wait until January 1 to get your personal finances on track; there are plenty of smart things to do with your money before the end of the year.

 

How Affordable Care Act Rules Affect Your Taxes. This is the first time taxpayers will have to report their health care status on their tax returns. The vast majority of taxpayers will simply have to check a box stating they were insured. But some uninsured people will be required to pay a penalty, while others will be exempt because of a hardship or some other reason.

 

Happy Holidays!

Bill