The penalty, per my understanding, is $95 for each adult and $47.50 for each child, but not more than $285 total per family. This is a 2014 amount, 2015 will be higher. I believe I had an e-mail from IRS about some possible first year waivers but no sure on that. The thing is, no one has come in here so far this year who did not have insurance. So I am reciting from "book learning" on this topic as opposed to experience. Experience leaves a more lasting impression. Once I get a couple in, I will look into the waivers and then I will have a better idea.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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