Disagreements about taxation of individual health insurance in 2014

Posted 1 CommentPosted in Accounting, Employee Benefits, Tax Planning

It seems that the most confusing tax topic this year in the wake of the Affordable Care Act implementation is the taxation of individual health insurance when an employer is involved in the payment of the cost. No doubt other confusing issues are still on the horizon, but this one is here and now. Small business […]

A closer look at the self-employed health insurance tax deduction

Posted 1 CommentPosted in Tax Planning

The self-employed health insurance deduction seems simple at first glance but can trigger tricky questions when dealing with the details. Unlike other business expenses and itemized deductions, this is a separate deduction taken on the first page of the Form 1040 tax return. Because of its “above the line” status this deduction can be more valuable […]

How to handle shock health insurance increases

Posted Leave a commentPosted in Health and wellness, News and Politics

Today’s Wall Street Journal brought the confirmation that most health insurance advisers already suspected. Medical care utilization under the new Obamacare policies is at record levels. The coming rate increases of high health insurance renewal rates for 2015 and 2016 will pose a financial shock to policyholders. But if you believe as I do that “We have to […]