Another Obamacare hit

Another Obamacare hit

PostBy: plumb-r On: Thu Dec 19, 2013 7:23 am

I just received a letter from our tax CPA. In it it explained that not all of our health care bills are tax deductible anymore. The first 10% of gross income is not tax deductible any longer,only the amount over 10% . Lets say family income is $10,000 ,if you paid $900 dollars for health insurance that $900 was tax deductible. Now the first 10% or in the example $1000 is not tax deductible. Only the amount over the first 10% is deductible so if your health care cost was $1,100 then $100 would be deductible. The working class is taking it up the rear again. :mad:
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Re: Another Obamacare hit

PostBy: coalkirk On: Thu Dec 19, 2013 7:43 am

Well we had to pass it to see what's in it. :roll: This is the tip of the iceberg. Wait till this time next year when companies start dumping their employees healthcare. It will be torches and pitchforks in the street.
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Re: Another Obamacare hit

PostBy: JRDepew On: Thu Dec 19, 2013 9:10 am

This is odd....I could have sworn that the Democrats in this country told me that Obama is going to simultaneously create world peace, provide actual free healthcare for all Americans, reduce our debt to the point of us having a surplus, all with a wink of his eye and a tip of his hat. I guess the MESSIAH wasn't the best nickname for Obama...Bend over and take a deep breath, all your going to feel is a little pinch....
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Re: Another Obamacare hit

PostBy: SMITTY On: Thu Dec 19, 2013 9:14 am

When it all collapses, they'll ram through single payer .... which was the goal all along. :mad:
SMITTY
 
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Re: Another Obamacare hit

PostBy: mmcoal On: Thu Dec 19, 2013 11:31 am

You know what the mind boggling part is, there are still people who actually believe in this president. I work with quite a few people who believe in this guy just because their union tells them to :roll: . According to NJ's public sector, our evil republican governor is so horrible for making them pay a little into their health insurance, but I guess what Obama is doing is perfectly OK. Talk about brainwashed.
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Re: Another Obamacare hit

PostBy: stovepipemike On: Thu Dec 19, 2013 5:17 pm

I don't think that even the health care professionals fully understand what is about to roll over us. Most people I talk to seem to say their cost is up and coverage is difficult to understand. There may be some good in the plan but I can't find any just yet. We don't know the half of it yet. Mike
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Re: Another Obamacare hit

PostBy: titleist1 On: Thu Dec 26, 2013 1:09 pm

plumb-r... I need a little clarification on this....
We are self employed and for us it was always the case that healthcare bills (not insurance premium's) were only deductible for the amount that totaled over 10% of income. I understand now that 10% number is now 7.5% but I don't know if that is in effect for 2013 or 2014.

Being self employed, our healthcare premiums were 100% deductible. My CPA has told me he does not believe that has changed but is still looking into it. If your CPA has told you the premium deduction is different, do you or anyone else have a reference to this change?
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