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Beginning next year, individuals and families can buy private health insurance through Affordable Insurance Exchanges, which are marketplaces where individuals can find private health insurance. (This is a new program created by the Affordable Care Act.) If you purchase health insurance through an exchange, you may be eligible for a tax credit that will make your coverage more affordable.The credit is aimed at middle-income individuals and families. A larger credit is available for older individuals whose coverage costs may be higher. The credit will be refundable, which means it can be used by people who pay little or no federal income tax. You can arrange for the credit to be paid to your insurer in advance so that you have little or no out-of-pocket costs. Are you eligible for the credit? We can help you find out and work with you to make the best use of your health insurance dollars. Call us today with all your questions about health care finance or any other financial concerns.

You may have heard that there are new rules on estate taxes as a result of the new tax law enacted earlier this year. The top tax rate on estates rose to 40% from 35% as of Jan. 1, 2013, but no tax will be imposed on the first $5.25 million (adjusted for inflation) of an estate. While $5.25 million sounds like a lot, and you may think that the estate tax doesn’t affect you or your family, you may be surprised. Estate planning should still be a priority. Contact us now to discuss all your questions about estate planning and the steps you can take to minimize the potential estate tax burden to your beneficiaries.