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Tag: taxes

Bill repeals ACA taxes

Bill repeals ACA taxes

After much debate and anxiety over proposed taxes and the Affordable Care Act, three ACA taxes were repealed under a recent government spending bill passed early this year, putting an end to some excise taxes, though reinstating others. The “Cadillac Tax” is out. A 40 percent excise tax on high-cost employer-provided health care plans, the tax was originally proposed to take effect in 2018. However, legislation had been twice delayed and was again set to go into effect in 2022….

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Retirees, get ready for year-end

Retirees, get ready for year-end

The end of the year brings with it the impetus for review and taking into account any issues needed to be resolved by Dec. 31, and some can help reduce your taxes. Keep in mind that once you reach age 70 ½, you are required to take a minimum distribution amount from your retirement account annually.  According to Christian Brothers Services’ partner Vanguard, if you do not take withdrawals, or you take less than you should, you’ll owe a 50…

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