Healthy Finance

The taxman cometh

Written by Healthy Living

As tax season gets underway, it’s a good idea to review some of the typically plentiful changes made annually to the tax laws. For example, the penalty for not having health insurance no longer applies to 2019 federal tax returns. The standard deduction amounts have been increased, as in recent years. IRA and 401k contribution limits also have been raised, which can help decrease your taxable income. Also new for 2019 returns, seniors age 65 and older have their own tax return option, a simplified Form 1040-SR with a larger font size and better color contrast to make it easier to read. For detailed information on these and other changes, visit irs.gov.

About the author

Healthy Living

Healthy Living is unique in a sea of health magazines that only present information on nutrition and exercise. Published by Akers Media Group, Healthy Living goes much farther by focusing on the four pillars of a true wellness — physical, mental, spiritual and financial health.

Healthy Living promotes a healthy, well-balanced lifestyle with easy-to-read features, try-it-at-home exercise programs, and expert advice from financial planners, mental health professionals, and a variety of other leaders in their respective fields.

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