The ObamaCare Mandate and How You Can Qualify for an Exemption from the Tax “Penalty” ObamaCare Mandate:  Those who choose not to purchase insurance will have to pay a tax “penalty” unless they qualify for an exemption. Exemptions from  ObamaCare’s tax “penalty” mandate  are available to a number of Americans.  We will cover all of the ObamaCare exemptions below, but first let’s take a look at how to avoid the fee and what happens if you don’t get covered. Avoiding the ObamaCare Fee The Individual Mandate (AKA the Individual Shared Responsibility Provision ) is the part of the Affordable Care Act that says you must obtain and maintain minimum essential coverage  throughout the year, get an exemption, or pay a fee on your Federal Income Taxes for each month you, or your dependent, go without coverage. To avoid the penalty  you must obtain minimum essential coverage and maintain it throughout the year or get an exemption. Get...

What Are Tax Exemptions? Tax exemptions reduce your  adjusted gross income , ensuring that not all of your income is taxed. Your total exemptions, along with your  standard deduction  or  itemized deductions , are subtracted from your adjusted gross income to figure your  taxable income . Tax exemptions are divided into two categories:  personal exemptions  and  dependent exemptions . Each tax exemption is worth $3,950 for Tax Year 2014.  How Many Tax Exemptions Can I Claim? Generally, you can claim one personal tax exemption for yourself and one for your spouse if you are  married . Your spouse is never considered your dependent. You can also claim one tax exemption for each person who qualifies as your  dependent . You cannot claim any exemptions if another taxpayer is entitled to claim you as a dependent. In this case, they get the exemption for you, and you are not allowed to claim any dependents. 2014 Federal ...

Truck Driver Tax Deductions Truck Driver Meal Deductions 2015 You can deduct the cost of meals in either of the following situations. 1) It is necessary for you to stop for substantial sleep or rest to properly perform your duties while traveling away from home on business. 2) The meal is business-related entertainment. Generally, you can use the " standard meal allowance " method as an alternative to the actual cost method. It allows you to use a set amount for your daily meals and incidental expenses (M&IE), instead of keeping records of your actual costs. The set amount varies depending on where and when you travel. The "standard meal allowance" refers to the IRS meal allowance rate for M&IE. If you use the standard meal allowance, you still must keep records to prove the time, place, and business purpose of your travel Special rate for  transportation workers . You can use a special standard meal allowance if you work in the transportat...