Listen to David speak with Neil Denman, CPA, and partner of Denman, Hamilton and Associates, talk about the alternatives we as taxpayers should consider to minimize taxation as much as possible.
Obama care, whether you’re for it…or against it, is now just as inevitable as tax day and the cost difference between a government approved plan or a non-compliant plan could be significant for you and your family.
According to the standards established by the ACA (Affordable Care Act) if you choose, or have already chosen, a noncompliant plan you are going to be subject to the fines the policy has set forth. This is going to be done by an increasing scale over the next four years. Once it’s fully phased in, it can amount to two and a half percent of your adjusted gross income. So, if your total income for the year equals $200,000 your penalty would be approximately $5,000. For some families, the penalty paid could be less than the cost of so-called “affordable care”.
Throughout the program, Denman and David also clarify an available alternative to health insurance provided through specific Christian organizations that are in compliance with the ACA. These programs base their coverage on family size and offer a set monthly payments.
Before you fully invest in the government’s controlled tax postponement programs (401Ks and IRAs) consider some uncommon strategies that provide you tax-advantaged access while maintaining use and control of your money. Listen to David and Neil talk about financial strategies that are unknown by many CPA’s and Financial Advisors.
To speak with Neil Denman, of Denman, Hamilton and Associates personally contact him at: (501) 312-9491. Neil and his firm serve clients all over the United States.