If you’re like many Americans, doing your taxes is a confusing chore. Deductions are crucial elements to filing taxes, especially if you’re expecting a return. However, few people know about all their options, especially their health deductions. And as we move into 2013, the new Affordable Care Act will cause even more changes to health deduction section of your tax forms, but not as much as you might think right away.

“Most major changes brought by the Affordable Care Act will come in 2014,” advised Jean Chatzky, finance expert and journalist whose Jean Chatzky’s Money School debuts this April. However, there are a few things that Chatzky advises taxpayers watch for this year:

• The contribution limit for Flexible Spending Accounts has been revised downward, to $2,500 beginning in 2013. There was no limit before, though most employers capped it at $5,000.

• Medicare payroll taxes may increase for some taxpayers. Those who earn over $200,000 as an individual or $250,000 as a couple will pay 2.35% to medicare. Those who earn less will continue paying the current rate of 1.45%.

Where taxpayers can see the biggest advantage will be in their medical-related deductions.

“Many taxpayers assume they can’t reach the 7.5% threshold to deduct medical expenses, but you might be surprised if you add it all up and include everything the IRS allows,” advised Chatzky. She provided a lot of insight on the common oversights we make that can and probably will push you to the 7.5%  threshold.
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It is Friday, December 21 and the Mayans were wrong! Since the world didn’t end, it is time for you to get a dose of healthy news from us and our friends! As we slowly approach the new year, we’ve compiled 2012′s most buzz worthy  healthy stories. In addition, we have our most pinned recipes of the year with a  new healthy donut recipe.

California’s Push for Labeling of Genetically Modified Foods

You couldn’t get around the web this year without seeing news about Genetically Modified Foods (GMO). Earlier this year people in California wanted their food packaging to be labeled with a GMO stamp, letting them know if it had any genetically modified ingredients. It was the people of California versus giant food industry companies, like Kelloggs and General Mills. However, Californians going up against the multi-million dollar food industry companies is easier said than done. The initiative may have failed on the ballot, but expect more big action from this movement in 2013.

The 6 Miracle Diets Dr. Oz Tried to Sell Us in 2012

Looking to lose weight without the hard work? Sounds too good to be true, right? Well, if you watch the Dr. Oz show the doc will try to sell you a miracle weight loss diet in what feels like every episode. Check out the six miracle diets that Dr. Oz tried selling to the masses this year, that we debunked! We can’t wait to see what kind of miracle diets Dr. Oz will have up his sleeves for 2013.

Jillian Michaels Announces Return to Biggest Loser With a Big Twist [VIDEO]

Biggest Loser season 14 will be return with new faces, new cast members, and old faces, like Jillian Michaels! Her announcement to return to Biggest Loser was all the buzz this fall. Not only will she be motivating and training overweight adults, but she will be helping overweight children tackle their weight as well! Biggest Loser returns January 6, and the show’s new concept will surely have Americans watching, since childhood obesity is a growing epidemic in America.

New York City Soda Ban Passes; Soda Industry Plans to Fight [UPDATED]

Earlier this year, Mayor Bloomberg proposed a soda ban in New York City. Any sugary beverage over 16 ounces could not be sold in New York City. The proposal was a way Mayor Bloomberg could help fight the obesity epidemic in his city. On October 12, 2012 the soda ban was passed and now the soda industry plans to fight back. Do you think the ban will help fight obesity? Tell us what you think!

The Obamacare Vote and How it Affects the Health of Americans

Besides the 2012 presidential election, Obamacare was one of the most talked about issues in America this year. The Affordable Care Act, commonly known now as Obamacare, requires Americans to carry health insurance. For those who cannot afford health insurance the act makes it more affordable for them. There are many pros and cons to Obamacare, take a look to see how the act will affect your health.
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During Friday night’s campaign debate, Joe Biden and Paul Ryan squared off to discuss the nation’s problems and how their administration will solve them. Between focusing on complicated foreign policy issues, moderator Martha Raddatz asked about the future of health care in America: “Both Medicare and Social Security are going broke and taking a larger share of the budget in the process. Will benefits for Americans under these programs have to change for the programs to survive?”

The debate got very heated as each candidate has completely different views about how Medicare should be funded. Ryan began his answer with a strong statement, “Medicare and Social Security are going bankrupt. These are indisputable facts.” He went on to say how the program has helped his family and how he will honor his promise to keep it funded for future generations. He differs from the Obama administration in that he and Romney want to reform Medicare and take $716 billion currently going to Obamacare and give it back to Medicare. Ryan criticized Obama’s plan to have a board overseeing the health care programs.

Biden shot back by appealing directly to seniors to ask themselves if they have more benefits than before Obama came into office. While avoiding major political gaffes during the debate, Biden delivered clear messages about his views, like when he spoke about Republicans, saying, “Their ideas are old and their ideas are bad, and they eliminate the guarantee of Medicare.”
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