What you should do
Plan ahead and be sure you’re tracking what money is coming in. If you’re collecting unemployment, you can use a Form W-4V for a voluntary withholding request to ensure you don’t get a rude surprise when you file. However, there’s good news, too: A number of the expenses associated with your job search are deductible, including outplacement agency fees, resume preparation and travel expenses associated with your job search or interviews.
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2 thoughts on “9 Events When Your Taxes Drastically Change”
Just a quick question if a person has not worked for a year and she has no medical insurance does she have to pay the fee at tax time because she does not have a job
It depends on your household income and the plan year. For 2018 plans and earlier, if insurance is unaffordable to you based on your income, you may qualify for an exemption from the fee. Other exemptions are based on low income too.