Could the government tax your benefits?

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Could the government tax your benefits?

PostBy: lsayre On: Sun Nov 24, 2013 9:51 am

Currently the government taxes your "income", but your actual cost to your employer is likely to fall in at somewhere between 1.5X to 2X your "income", so from the perspective of the employer your income is much greater than what you see (and what is currently being federally 'income' taxed). What you don't see on your paystub are the many "benefits" that you receive at the direct expense of the employer. From an income tax perspective these are actually a hidden part of your pay, that to date have not been extorted from you by income taxation. But that is subject to change:

http://www.lewrockwell.com/2013/11/bill ... out-taxes/
lsayre
 
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Re: Could the government tax your benefits?

PostBy: ntp71 On: Sun Nov 24, 2013 12:31 pm

The Government can do whatever they feel like doing at any time. Like require that everyone purchases Health Insurance whether they want to or not.
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Re: Could the government tax your benefits?

PostBy: samhill On: Sun Nov 24, 2013 12:40 pm

If your lucky enough to have a truly Co. paid for HC plan then that Co. is claiming that as a business expense against it's taxes (if any) I don't see how they could turn around & tax both you & the employer.
Last edited by samhill on Sun Nov 24, 2013 1:06 pm, edited 1 time in total.
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Re: Could the government tax your benefits?

PostBy: lsayre On: Sun Nov 24, 2013 12:45 pm

samhill wrote:If your lucky enough to have a truly Co. paid for HC plan then that Co. is claiming that as a business expense against it's taxes (if any) I don't see how they could turn around & tax bot you & the employer.


A bankrupt and rabidly corrupt government can and will do whatever it wants in order to stave off the inevitable.
lsayre
 
Stoker Coal Boiler: AHS S130 Coal Gun
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Re: Could the government tax your benefits?

PostBy: jpete On: Sun Nov 24, 2013 1:44 pm

samhill wrote:If your lucky enough to have a truly Co. paid for HC plan then that Co. is claiming that as a business expense against it's taxes (if any) I don't see how they could turn around & tax both you & the employer.


At the company I was laid off from, my friend put his live in girlfriend on his insurance as a "domestic partner". The dollar difference between that and a "Single" plan was then added to his gross pay at the end of the year and it was taxed as regular income.

Whereas the total value of my "Family" plan was on a pre-tax basis.

I believe O'care is set to tax everyone's company provided insurance on a taxable, regular income basis.
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Re: Could the government tax your benefits?

PostBy: cabinover On: Mon Nov 25, 2013 7:25 pm

I'd be just as well to simply hand over my check to the gov't. But wait, there's more. I want them to take my mortgage and a whole slew of other costs too please. ;)
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Re: Could the government tax your benefits?

PostBy: waldo lemieux On: Mon Nov 25, 2013 7:56 pm

I think they went one better and just cancled benefits (health ins) for some lucky campers :?
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