Higher 457(b) Contribution Limits for 2006 Under the 457(b) plan contribution limits for 2006, you could save as much as $30,000 toward retirement, on a pretax basis, this year alone. The simple worksheets in this booklet will show you how large a 457(b) plan contribution you can make.his guide will show you.Youâll learn about: â  The 457(b) savings opportunities for 2006â  Determining your 457(b) plan contribution limitâ  Taking the steps that are right for you Plan to make the most of your retirement savings in 2006.
Calculating the Obamacare Tax Penalty. For 2015, the penalty for going without health insurance is $325 per adult plus $162.50 per child (up to a maximum of $975 per family) or 2% of annual household income, whichever is greater. You'll make this payment when you file your taxes in April 2016.
The Affordable Care Act requires that all Americans have health insurance starting in 2014. Those who choose to not have insurance will have to pay a tax penalty unless they qualify for an exemption. The tax penalty can also be called an âindividual responsibility payment.â. The tax penalty is based on family size and income. For 2014, the fee is $95 per adult or one percent of your total yearly income depending on your income and is paid when you file your 2014 federal tax return (the one you file in 2015).