topic I made more this year because of a new job would that effort my taxes in Get your taxes done using TurboTax

I made more this year because of a new job would that effort my taxes

watsoncharles30 — Sat, 01 Jun 2019 05:00:57 GMT

When I apply for health care last year and my gross income that I told them, I made more then I told them because I switch job will that hurt me this year on taxes.

Did you get your insurance through "the exchange"?

BobB7 — Sat, 01 Jun 2019 05:00:57 GMT

Did you get your insurance through "the exchange"?

Yes

watsoncharles30 — Sat, 01 Jun 2019 05:00:59 GMT

Yes

sampsonmines' answer pretty much covers the waterfront. I...

BobB7 — Sat, 01 Jun 2019 05:01:01 GMT

sampsonmines' answer pretty much covers the waterfront. It certainly will impact your premium credits as well as increasing your income tax. If it puts you above a limit amount then it eliminates the premium credits and would require that you repay any advance credits.

How can I help myself for next years taxes. So I don't ow...

watsoncharles30 — Sat, 01 Jun 2019 05:01:03 GMT

How can I help myself for next years taxes. So I don't owe again.

Either make a conservative estimate of your income for th...

BobB7 — Sat, 01 Jun 2019 05:01:04 GMT

Either make a conservative estimate of your income for the exchange or don't have them apply an advance premium credit, just wait and see how much of a credit you receive when you file your taxes.

Thanks you for that info I appreciate that a lot.

watsoncharles30 — Sat, 01 Jun 2019 05:01:05 GMT

Thanks you for that info I appreciate that a lot.

You're quite welcome.

BobB7 — Sat, 01 Jun 2019 05:01:07 GMT

You're quite welcome.

The increase in expected income can effect your taxes in...

sampsonmines — Sat, 01 Jun 2019 05:01:09 GMT

The increase in expected income can effect your taxes in several ways. If you received Advanced premium tax credits, then you may have to pay some if it back. You may also be in a higher tax bracket; have your ability to take deductions and/or credits changed. The best way to see everything is to fill out your return in its entirety and then print it out to see all of the moving parts.