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 penalty is a flat fee per adult or a percentage of household income, whichever is greater; the penalty per uninsured child is half the adult penalty. In 2014, the penalty is just $95 per adult, but this quickly escalades to $695 in 2016.Individuals with higher incomes may be subject to higher fines.Calculating the tax penalty for your family is fairly straightforward, and you should do so before making the decision of whether to get insured.f you're one of 48 million Americans without health insurance, you not only have the challenge of understanding what the law means for individuals: you'll also face the important decision of purchasing insurance or paying a tax penalty. These five steps will help you better understand the penalty and your options. 1.