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Jason Cooper

About Jason Cooper

Jason Cooper is an Enrolled Agent and the founder of Tax Muscle LLC, a Chicago-based Tax Defense and Tax Debt Resolution firm that helps businesses and individuals resolve their tax debt. Jason also teaches income taxation, accounting, and QuickBooks setup at the Illinois Tax Training Institute.

Find out if You Qualify for a Health Insurance Coverage Exemption

Find out if You Qualify for a Health Insurance Coverage Exemption
The Affordable Care Act calls for individuals to have qualifying health insurance coverage for each month of the year, have an exemption, or make a shared responsibility payment when filing his or her federal income tax return.

You may be exempt from the requirement to maintain qualifying health insurance coverage, called minimum essential coverage, and may not have to make a shared responsibility payment when you file your next federal income tax return. Continue reading

Choosing the Right Filing Status

Choosing the Right Filing Status
Using the correct filing status is very important when you file your tax return. You need to use the right status because it affects how much you pay in taxes. It may even affect whether you must file a tax return.

When choosing a filing status, keep in mind that your marital status on Dec. 31 is your status for the whole year. If more than one filing status applies to you, choose the one that will result in the lowest tax. Continue reading

In 2014, Various Tax Benefits Increase Due to Inflation Adjustments

In 2014, Various Tax Benefits Increase Due to Inflation Adjustments
For tax year 2014, the Internal Revenue Service announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2013-35 provides details about these annual adjustments.

The tax items for tax year 2014 of greatest interest to most taxpayers include the following dollar amounts: Continue reading