The ultimate cost of opposing corruption

Posted on Leave a commentPosted in government, New Jersey, News and Politics

In the spring of 2016 the world learned about the “Panama Papers”, more than a million leaked documents from powerful law firm Mossack Fonseca that showed money laundering and corruption of hundreds of the wealthiest families in the world. The leak report titled “The Revolution Will Be Digitised” exposed the ways that financial corruption is […]

The good news/bad news for New Jersey workers on Trump’s health care cuts

Posted on 1 CommentPosted in Accounting, New Jersey, Trumpcare

Here are six key points for New Jersey workers following the 10/12/2017 Trump executive order on health care: Only 150,000 of the 9 million New Jersey residents, less than 2 percent of the state population, are affected by the Trump health care cut, according to the Centers for Medicare and Medicaid. New Jersey does not […]

Friday October 13 nightmare delivered by the president

Posted on Leave a commentPosted in Affordable Care Act, Health Insurance

Until now, The federal government provided financial help to working class people who earn too much to qualify for state Medicaid programs but earn too little to pay for the cost of health insurance. In this case the federal government pays 20% of the cost of coverage directly to insurers to cut premium costs. The president […]

Annotated Health Care Executive Order

Posted on 1 CommentPosted in Affordable Care Act, Health Insurance, Trumpcare

This is an annotated copy of the executive order signed by president Trump October 12, 2017 likely affecting the markets for short term medical insurance, limited benefit medical insurance, association health plans, out-of-state insurance purchase, telemedicine and uninsured health plans (Health Savings Accounts, Health Reimbursement Arrangements, Flexible Spending Accounts, Section 125 cafeteria benefit plans. Portions of the executive order […]

The coming revolution in small business health plans

Posted on Leave a commentPosted in Affordable Care Act, Health Insurance, self-employed, Small Business

The most dramatic change in small business health plans is expected be introduced by the Trump administration later this week. By relying on executive branch power rather than congressional lawmaking, the administration can effectively revolutionize small business health plans. How is this possible? Isn’t health insurance controlled by state law? Yes but the biggest deterrent […]

Taxation of home health care benefits and family caregivers

Posted on Leave a commentPosted in Financial Planning, Retirement, Tax Planning

When it comes to providing care in the home for a parent or relative, the tax implications can quickly become complicated. The IRS issued some guidance last year when payments come from Medicaid or similar programs under section 1915(c) of the Social Security Act. In short, these payments are not subject to self-employment tax but […]