The weather outside is frightful, but the fire is so delightful…

Between the cold, the snow and motivating yourself to step out into the elements, exercising during the winter months can be a challenge.  Here are a few tips to help you beat the cold:

• Dress in layers instead of one thick coat. First, put on a thin layer of synthetic material, such as polypropylene, which draws sweat away from your body.  Next, add a layer of fleece or wool for insulation. Top this with a waterproof, breathable outer layer.
• Before heading out, check the forecast for the time you'll be outside. When you’re sweating, cold wind and dry air can quickly chill your body. 
• Keep your head covered, as you lose nearly half your body heat that way.
• As the body experiences cold, it pulls blood from the extremities to protect more centralized organs, so make sure you have good quality gloves to protect your fingers from frostbite.
• Covering your face with mask or scarf when the temperature is below freezing also helps warm the air a bit before it enters your lungs.
• Wear sturdy footwear with good traction to prevent slips and falls on snow or ice.
• Wear light and/or reflective clothing since nightfall comes early during the winter months. You want the challenge of your workout to come from the exercise, not a driver who can’t see you.

Exercising in the cold helps fight off the winter blues, and it burns more calories. With proper planning and the right gear, there’s no reason you can’t take advantage of it.

The ACA has changed the landscape of healthcare.  As 2016 rolls in, many of the provisions of the legislation are now in full effect.  What changes can we expect as we start this year’s tax preparations?

Advance Tax Credit.  Those who purchased health insurance through the new Marketplace may have received the Advance Premium Tax Credit to help lower the cost of their coverage. The amount of credit you receive is based on your estimated income. When you file your taxes, the credit you received based on your estimated income must be reconciled with your actual income. If your income is substantially different from the estimate, then you may owe a penalty or be due an additional credit.

Penalties.  Many taxpayers were surprised in 2015 to find that there were tax penalties for not having health coverage. 2016 will be no different. In fact, starting this year many of the penalties for lack of coverage will increase, unless you qualify for one of several exemptions. 

Form 1095-A.  If you enrolled in health care coverage through the marketplace, you’ll be receiving a tax form in the mail called a 1095-A.  Make sure to keep this form with other tax records like your W-2’s, as you won’t be able to complete your 2015 return without it.

For other questions on how the provisions of the ACA will affect you this year, please consult your tax professional.

Valentine’s today is for lovers, the day to show that special someone how much you care. But as would-be lovers have found out through the years, it can also be a drain on the wallet. Nothing shows love like a declined debit card at a fancy restaurant.

Don’t worry though. Here are some gift and date ideas that will make both your beloved and your account balance smile:

• A night at the museum.  Not all museums are pricey. Some are even free. Whatever your interests, there’s a good chance you can find a museum that suits you both.
• Play games at an arcade bar.  When you were kids, you knew how to have fun with just a few rolls of quarters. Why should it change now that you’re older?
• Spend a day at a flea market. They say one person’s trash is another person’s treasure, and what better place to find both than your local flea market? The best part is that you can see everything without buying anything. 
• Sing together at a karaoke bar.  Sooner or later you and your love are going to be out somewhere and realize: “hey our song is playing!” If it’s your song, what could be more romantic than singing it together?
• Make a pizza together.  Each of you can make half just the way you want it. When you’re done, try out each other’s creations. 

Whatever your interests or activities, the key to any great date is to enjoy the person you’re spending it with. Happy romancing!

Red is the color of love and passion. It’s bold and vibrant. It demands our attention and inspires us to action. This February, red takes on another meaning. Friday, February 5th is National Wear Red Day, a day dedicated to women’s heart health. 

Heart disease and stroke are still the leading causes of deaths among women, nearly 1 in 3— that’s more than all cancers combined. Here are some tips to keep your heart strong:

Get Active.  A fit and active lifestyle cannot only help you look and feel better, but it can help you live long enough to enjoy it. Studies have shown that 30 minutes a day of moderate physical activity can significantly lower your risk of heart disease.

Control Cholesterol.  One simple way to control your cholesterol levels is to avoid eating a lot of red meats and processed foods. Instead fill out your diet with fruits, vegetables, and whole grains.

Manage Blood Pressure.  Higher blood pressure levels place additional strain on your arteries, causing them to tear and generate scar tissue. Over time, these scarred areas can trap plaque, creating clogged and hardened arteries and overworking your heart.

Stop Smoking.  That cigarette may get you through a stressful day, but it also damages your entire system, increasing your risk for coronary heart disease, hardened arteries, aneurysm and blood clots. Not the best choice for a stress reliever!

You take care of your family, so why not take care of yourself and your heart?  For more information about National Wear Red Day and women’s heart health, visit Go Red for Women.

Did you know that the US federal income tax code is 4 times longer than the complete works of Shakespeare? It's doubtful that any single person could possibly know everything in it, and just to make sure, there are tax changes every year! Here are some changes that may or may not affect you in 2016:

• April 15, 2016 is an official District of Columbia holiday (Emancipation Day)—which means you will have until April 18, 2016 to file your return.
• Many people were shocked at the $95/person penalty for not having health insurance last year. If you do not have coverage for 2015, you will have to pay the higher of either 2% of your income above the filing threshold, or $695 per person ($347.50 per child under 18).
• Some recent changes in Social Security and Medicare benefits may affect you or family members.
• Inflation adjustments have been made to over 40 tax provisions, including personal adjustments. Likewise, tax bracket thresholds have increased for each filing status.
• The standard mileage rate for business miles has increased from 56 cents per mile in 2014 to 57.5 cents for 2015.

Speaking of changes, what changes are going on in your own family? If you have a child who turned 17 in 2014, you will no longer be able to claim the child tax credit for that child. Have you turned 65? That can make significant changes on your tax return too.  

In today’s world the only constant is change, and for 2016, your taxes are no exception.

Just in case you haven't been keeping up with all the latest and greatest facts and figures about last year's US federal income taxes, we'll let you in on a few juicy tidbits:

Dying to know about the President's 2014 tax return?  The Obamas were able to itemize this year, but there were no medical deductions. Since taxpayers are only allowed to deduct medical expenses that are over 10% of their adjusted gross income, many people aren't eligible to take the medical deductions; the Obamas would have needed over $47,000 in out-of-pocket medical expenses to take advantage of this deduction. Fortunately they were a healthy bunch last year!

Tax identity theft hasn't gone away—an estimated 1.4 million people were alerted by the IRS by letter this year that their tax identities may have been compromised. Due to IRS budget cuts, it can take an average of 278 days to resolve tax identity theft issues.

The Affordable Care Act (ObamaCare) was a new issue for the 2014 tax year. About 1 in 6 Americans now have Marketplace plans, and about 87% of those people received financial assistance.

Interested in getting a whole LOT of money from the IRS? The IRS's whistleblower program could net you up to $10 million. Of course, due to those IRS cutbacks, and the large amount of paperwork that they undoubtedly have to sift through from ex-employees and ex-spouses, etc., it might take some time for you to earn your fortune this way.

Taxes, numbers and statistics. What could be better this time of year?