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Category: New for 2020

Warning: Health Insurance Penalty 2020

December 23, 2019
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| Categories: CA Tax, New for 2020, Tax Tips

Yes, the IRS no longer has a penalty for uninsured taxpayers starting 2019. However, CA picked up the slack and will now penalize residents if they don’t have coverage starting Jan 2020. “Effective January 1, 2020, California residents MUST obtain minimum essential health care coverage to avoid the new California individual health care mandate penalty…

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New W-4 for 2020

December 22, 2019
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| Categories: IRS, New for 2020, Tax Tips

The W-4 form is what your employer/payroll department uses to calculate the withholding on your paycheck. It used to have you claim “exemptions” per person in your household. You probably remember claiming something like Single 3 or Married 4. Well those are the days of the past! The new forms are going to be a…

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