How will the Health Care Act affect my tax return? Read NOW to learn how. Presented by Dynamite Tax & Financial Service.

1. By Dynamite Tax & Financial Service
An Enrolled Agent Firm
11054 Gratiot Ave.
Detroit, MI 48213
(855) 294-0004
Health Care Act and Your Income
Tax Return

2. What is the Health Care law?
 The Affordable Care
Act, or health care
law, contains new health
insurance coverage and
financial assistance
options for individuals and
families.
 Open Enrollment for the
Health Insurance
Marketplace to purchase
health coverage begins
Oct. 1, 2013. When you
get health insurance
through the marketplace
you may be able to get
the new advance premium

3. What are the Penalties?
 For the first year
of the new
law, 2014, the fine
for not having
insurance is the
lowest it will be.
After that, it goes
up steeply in
2015 and again in
2016.

4. 2014 Fine for no Health
Insurance
 There will be 2 ways the
Government will calculate what
you owe. You have to pay
whichever amount is higher.
 Option 1: Pay a fee of $95 for
each adult and $47.50 for each
child but not more than $285
total per family
 Option 2: 1% of your family
income. If your family makes
$500,000 a year the fine will be
$500.
 The fines will be imposed on
your tax return, so either it
would be subtracted from
your refund or increase your
tax liability.
Fees 2014
Per Adult
Per Child

5. 2015 Tax Fine for no Health
Insurance
 Option 1: Pay a fine of
$325 for each adult
and $162.50 for each
child, but no more
than $975 total per
family.
 Option 2: 2% of your
family income. If your
family makes $50k a
year the fine will be
$1000.
 Whichever is greater*
0
200
400
600
800
1000
1200
2015 Fee
2015 Fee

6. 2016 and beyond Fine for no Health
Insurance
 Option 1: Pay a fine of
$695 for each adult
and $347.50 for each
child but no more than
$2085 per family.
 Option 2: 2.5% of
your family income. If
your family makes
$50k a year the fine
will be $1250.
 Remember you have
to pay whichever
option will be higher
2016 And Beyond Fees
Adult
Child
Max. Family
2.5 Percent

7. How will Dynamite Tax Help?
 Dynamite Tax & Financial
Service educates its
clients on the tax law
changes that directly
affects their tax return
 There are options for
insurance that will be free
for some households who
make under a certain
income threshold.
 We will help you
determine (if you already
don’t have insurance) If
you qualify for FREE
health care.

8. We will hold your hand
 When our clients come
in to get their tax returns
prepared in 2014
Dynamite Tax will help
you find the best option
for insurance and help
you pay for it.*
 We want to keep you
educated and most
importantly help you get
insured with affordable
insurance to protect you
and your family.
 See a tax specialist for details.