3 Tax Changes That Will Impact You This Filing Season

taxchangesIf you are looking to get a jumpstart on your tax planning, a new Motley Fool article provides an excellent guide to the three most significant changes you will want to keep in mind when preparing your tax return. One of the major considerations for most taxpayers is the new tax penalty that comes with not having “minimum essential” health insurance coverage. That penalty–which works out to be the greater of 1% of annual income (above the tax filing threshold) or $95 per adult and $47.50 per child–could be costly for a family of four that failed to obtain insurance coverage by the March 31, 2014 deadline.

Read the entire article to find out what other tax changes you can expect.

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