Subscribe Now: http://www.youtube.com/subscription_center?add_user=Ehowfinance Watch More: http://www.youtube.com/Ehowfinance Life insurance benefits and annuities are associated with some very important income tax rules that you're going to want to know. Find out about income tax on life insurance benefits and annuities with help from a longtime financial planner in this free video clip. Expert: Karen Lee Filmmaker: Edward Castner Series Description: It's never too early to start thinking about life insurance, retirement and other types of financial-related plans that are an absolute necessity in today's world. Learn how to get the most for your dollar and plan for your future in the proper way with help from a longtime financial planner in this free video series.
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Under the affordable care act, amount your employer spends on premiums now that healthcare reform is law of land, it's time to think about how it will affect taxes. Jan 2017 the issue of making employer provided health benefits into taxable income has been around for a long time in care debate 17 mar 2009 i know no serious observer who is happy with state u. Federal liberals eye tax on private health and dental plans, a move how are ltc insurance premiums benefits taxed? Do you ever owe taxes taxation of tony novakhealth coverage guide by small business majority. Anything above the cap becomes part of your taxable income. Employee benefits taxable or not? Tax on company other you'll pay tax are employer paid health taxable? Proformative. Sthe current system is marked by a set 21 jul 2015 with new health benefit options available, i often receive questions about tax free vsto help answer this common for other group benefits such as extended care, vision dental employer paid life insurance premiums are taxable to the employee, 6 dec 2016 according joint committee on taxation analysis 2007, average savings exclusion fuels growing cost of care. You may also be able to claim health insurance what company benefits you'll pay tax on, eg cars, low interest the cost of premiums if your employer pays for medical in jan 2014, as a result obama care; Employer paid will taxable fringe benefit. Benefits internal revenue service 14 dec 2016 the benefits are subject to income tax withholding and employment taxes. Deducting health insurance on income tax return the balance. Are health insurance benefits considered income by the irs how healthcare reform has changed way you pay taxes gop looks at making employer into taxable. I'm looking at it from the perspective of increased tax health insurance is not taxable income, even if your employer pays for. The taxation of employee health care benefits forbestaxable insurance contributions zane benefitstrue life & nytimes. Who is actually paying when the employer makes a contribution to benefit 2 dec 2016 employee sponsored health care tax exemption being most benefits are taxed for example, life insurance paid by 19 mar 2014 as boomers retire, long term and how it's growing in contract treated an accident. Tax season seven most common taxable benefits explained how does the tax exclusion for employer sponsored health private services plan premiums canada. However, the cost of health insurance benefits must be included in 2 mar 2017 quebec, premiums for and dental are also considered a taxable benefit. Do va benefits count as medical insurance coverage under obamacare? . Under the affordable care act, for fsas under a 4 mar 2014 critical illness insurance coverage are considered taxable benefits by of your extended health care, dental plan, short term disability (std) employer paid premiums exempt from federal income sponsored (esi) reduces income, it is replacing esi exclusion with tax credit would equalize 8 dec 20
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Discussion of deemed dispositions of life insurance policies. Business Career College is a national financial services education provider. See our insurance, financial planning and continuing education courses, including self-paced and instructor led options, at https://www.businesscareercollege.com For great industry articles, follow on Twitter (https://twitter.com/JasonWattBCC) or like on Facebook (https://www.facebook.com/BusinessCareerCollege/).
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Why is health care so expensive? Once again, there are a lot of factors in play. Jacob and Adriene look at the many reasons that health care in the US is so expensive, and what exactly we get for all that money. Spoiler alert: countries that spend less and get better results are not that uncommon. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA Do you know what an HAS is? Today I will tell you everything you need to know about HAS! An HSA- is a health savings account. An HSA is a special kind of tax-advantaged account that’s designed to help you pay for health care expenses. Anyone can open an HSA, as long as they: • Have health coverage through a qualified high-deductible health plan. If you don’t have this type of health plan, you CANNOT open an HSA. • Are NOT covered by any other health plan • Are NOT enrolled in Medicare, and • CANNOT be claimed as a dependent on someone else’s tax return. As previously mentioned, you can withdraw money from your HSA without paying taxes or a penalty as long as those dollars are used to pay for qualified medical expenses. Qualified medical expenses include things that are associated with your health plan, such as: • Deductibles and coinsurance, • Vision care, • Dental expenses, • Over-the-counter supplies, and • Some insurance premiums. The account is owned by you, so no matter where you work, the money that’s in the account, always belongs to you—even if it was contributed by your employer. You can use the money in the account to pay for your current medical expenses, or save it for future medical expenses – including those in retirement. There are many special advantages to opening an HSA. You’ve probably heard of the Flexible Spending Account…well, unlike the Flexible Spending Account there’s no “use it or lose it” with an HSA. Any dollars left in your account at the end of the year roll over to the next year. That means you decide whether to spend or save your HSA dollars, which makes it easier to save for the future. Another advantage of the HSA is what we call triple tax savings. Here’s how that works: • Not only does the money that’s deposited into the account reduce your taxable income, • But, the balance in your account earns interest tax free, and • Any withdrawals from the account are tax free as long as the moneys is used for a qualified medical expense. That gives you a triple tax savings. And finally, one of the greatest advantages of the HSA is that it’s portable. Unlike other medical spending accounts that are owned by your employer, the HSA belongs to you, even if you change jobs or retire. Using your HSA is easy. Let’s start by talking about contributions. Both you and your employer can contribute money to your HSA. Remember, employer contributions are not taxable to you as employee, and once the money is deposited into your account, it belongs to you. The best way to contribute to your account is through automatic payroll deductions, if your employer allows this. Not only is this convenient, but payroll deductions help you make consistent contributions, and you get the most tax savings this way. Plus, you have the flexibility to change your payroll deduction at any time throughout the year. You have a lot of flexibility when contributing to your HSA. You can put money into your account at any time during the year, and you can even contribute up until the tax filing deadline, which gives you more time to fully fund your account. If you fund your account on a post-tax basis, you’ll realize the tax savings when you file your taxes for the year. This type of contribution becomes an “above-the-line” deduction. Let’s talk about how much you can contribute to your HSA. Every year, the IRS sets a maximum amount that you can contribute to your HSA. This maximum is based on your health plan contract type – single or family. • If you have single coverage, you can contribute a maximum of $3,450 in 2018. • If you have family coverage, you can contribute a maximum of $6,900 in 2018. These maximums include contributions made by you and your employer. Together, your contributions cannot exceed these amounts. Every year the amounts change. Of course, there are exceptions to every rule, and with HSA contributions the exception is that account holders who are 55 or older at any time during that year. These individuals can contribute an additional $1,000 every year to an HSA. This is called a catch-up contribution. There are just a few things to keep in mind when using your HSA. • Withdrawals from your account are tax free as long as the money is used for a qualified expense. • Expenses must be incurred on, or after, the date that your HSA
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Are employer contributions to an HSA taxable to the employee - Find out more explanation for : 'Are employer contributions to an HSA taxable to the employee' only from this channel. Information Source: google
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Have you noticed that little thing in your pay benefits such as the HSA account that requires a high deductible health plan? It may see a bit random but this savings vehicle is actually a very useful tool to help you reduce you taxable earnings! Typically, you can use the money in your HSA tax-free for qualified medical expenses. But why should you only contribute what you use in one year? Why not just max it out because you will eventually use this money for medical expenses anyway? Worst case is you contributed too much but you can still take this out of your HSA after 65 and you only have to pay income tax with no additional penalty. It has the advantages of a 401k PLUS being able to use it tax free now on medical expenses. Therefore, this should be prioritized over 401k contributions but AFTER 401k matching. Support more videos like this along with getting a bunch of perks here: http://www.patreon.com/BeatTheBush Get a free audiobook and 30-day trial. Even if you cancel, you still keep the book and you still support my channel for signing up. Support my channel by signing up to help me make more videos like this: http://www.audibletrial.com/BeatTheBush ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Credit Card for Starters Who Should NEVER Get a Credit Card: https://youtu.be/aNYZkMgTyb0 Only Use Credit or Only Use Debit: https://youtu.be/J0ZRgBIG39Q Credit Card Basics How Credit Card Calculates Interest: https://youtu.be/0Z2nWQdqa2A How Credit Card Grace Periods Work: https://youtu.be/8WuH3-PsjCA Difference Between Credit Card Inactivity and 0% Utilization: https://youtu.be/rtfJMZf_IrM Credit Card Statement Closing Date vs. Due Date: https://youtu.be/3-knvT7JbTk Does Canceling Credit Cards Affect Credit Score: https://youtu.be/jYGZukw5i-Q Can You Afford a No Limit Credit Card: https://youtu.be/sdAh7hzgJoU Credit Card Balance Transfer Hack: https://youtu.be/F2Foqg2ZTEw Credit Score Less Than 700 Maximize Credit Score while in College: https://youtu.be/pxGECoQoLLA Build Credit Fast with a $500 Credit Limit: https://youtu.be/attQKzngqoE How to Pay off Credit Card Debt: https://youtu.be/XY8YSPapnF8 How to Build Credit with Bad Credit or No Credit [w/ Self Lender]: https://youtu.be/RNXutBGAnlM How to Boost Your Credit Score Within 30 Days: https://youtu.be/LyBjciz4-zg Credit Score More Than 700 How to Increase Credit Score from 700: https://youtu.be/MCFKNBcyAWs 740+ is Not Just For Show: https://youtu.be/1fGcpxurzgU My Credit Score: 848, How to get it Part 1: https://youtu.be/dEZLZQXRBjQ My Credit Score: 848, How to get it Part 2: https://youtu.be/Y6-SB35C7Pc My Credit Score: 848 - Credit Card Hacks and How I got it: https://youtu.be/8Xz3hi3VWfM Advanced Credit Card Tricks How to get a Business Credit Card: https://youtu.be/S3srld5_l5Y Keep 16 Credit Cards Active: https://youtu.be/yAzkEK8Y6E8 Rejected for a New Credit Card with 826 Credit Score: https://youtu.be/66O505Oj5e4 Make Credit Cards Pay You Instead: https://youtu.be/wKMJdX1fQJA Credit Card Low Balance Cancellation $2 per mont [Still Works]: https://youtu.be/2DJjfvcMCcg Cash Back Are Credit Card Points Taxable?: https://youtu.be/Tw90h8I5JNk How to Churn Credit Cards: https://youtu.be/uw__fl38Dk4 Best Cash Back Credit Cards for 2017: https://youtu.be/e_uJweUsiDk 5% Cash Back on Everything: https://youtu.be/q9g_rySm_tI Always get 11% Off Amazon Gift Cards and Amazon Hacks: https://youtu.be/vbv6Rj2uUr4 Max Rewards: What's in My Wallet: https://youtu.be/cmJDFcbjFho How I Make 200 Dollars in 10 Minute [Hint: Credit Card Bonus]: https://youtu.be/pegq4G7ZhTI When Your Best Cash Back Card Gets Cancelled: https://youtu.be/pe7OuqxGi9M Amex Blue Cash Preferred vs. Everyday Effective Cash Back on Groceries: https://youtu.be/3ezD_QwS5e0 Double Dip Groceries Cash Back with Safeway Just for U: https://youtu.be/7kBl0W_L29U Milk the Barclays Cashforward Card for the MOST Cash Back: https://youtu.be/qf2gvrk6Evo This Channel: BeatTheBush I've obtained a high credit score of 848 out of 850 and I am glad to share the knowledge for everyone. Since 3 years ago, I've started making numerous videos that helped people increase their credit score that are free and accessible to all. Please enjoy my channel. Other Channels: BeatTheBush DIY: https://www.youtube.com/BeatTheBushDIY
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This video shows the difference between a defined-benefit pension plan and a defined-contribution plan. The core difference between these two types of plans boils down to what the employer is promising: with a defined-benefit pension plan, the employer is promising the employee a series of annuity payments after the employee retires. With the defined-contribution pension plan (e.g., a 401(k) plan), the employer is promising to make contributions to the employee's retirement account. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
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Subscribe Now: http://www.youtube.com/subscription_center?add_user=Ehowfinance Watch More: http://www.youtube.com/Ehowfinance A premium pre-tax conversion plan relates to group insurance offered in an employer sponsored employee benefit package. Find out about a premium pre-tax conversion plan with help from the president of The Stratford Financial Group, Inc. in this free video clip. Expert: Jeffrey Ingalls Filmmaker: Stephen Chiang Series Description: Health insurance is a complicated topic, which is why it's always important to do as much research as possible before deciding on any particular plan. Get financial advice and learn more about health and medical insurance policies and plans with help from the president of The Stratford Financial Group, Inc. in this free video series.
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Subscribe Now: http://www.youtube.com/subscription_center?add_user=ehowfinance Watch More: http://www.youtube.com/ehowfinance Pre-tax insurance is when you are able to make contributions towards your insurance premium before your income is taxed. Find outa bout pretax insurance with help from a longtime insurance specialist in this free video clip. Expert: Susan Combs Filmmaker: Alexis Guerreros Series Description: Health insurance can be a very complicated topic, which is why it is always important to do as much research as you can to make sure that you're as prepared as possible. Get health insurance tips with help from a longtime insurance specialist in this free video series.
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The Affordable Care Act (Obamacare) desperately needs TWO major improvements OVER ANY OTHERS: 1. Grant EQUAL INCOME TAX TREATMENT to all health insurance purchases . 2. "TEAR DOWN THIS WALL" which segregates America's health insurance risk pools between the employed and the unemployed. (Thanks to Ronald Reagan for the inspiring quote!) Under Obamacare, businesses and congress continue to buy health insurance with BEFORE-TAX-DOLLARS (a significant income tax ADVANTAGE), while individuals must buy health insurance with AFTER-TAX-DOLLARS (a significant income tax PENALTY). Individual policyholders continue to pay so much more in income taxes and premiums than businesses and congress do for the exact same health insurance coverage. Granting "Equal Income Tax Treatment" to Individual Mandate Health Insurance Purchases will give ALL Americans the same tax treatment enjoyed by businesses and congress when purchasing private health insurance. In the long run, granting Equal Income Tax Treatment to all health insurance purchases will help consolidate health insurance risk pools nationwide. Larger risk pools, when combined with fewer, more standardized comprehensive health plans, will lead to better health insurance coverage at lower rates for all Americans. ++++++++++++ Captions for this video+++++++++++++++ For the last 21 years I have been buying my Anthem Blue Cross Individual Health Insurance policy with AFTER-TAX dollars. Businesses, however, get to buy health insurance with BEFORE-TAX dollars. Buying health insurance with BEFORE-TAX dollars saves a lot of money on income taxes! Unfortunately, individuals like myself never get to enjoy this benefit. THIS IS NOT FAIR, and so I would like to ask President Obama: Does the new health insurance reform finally give "EQUAL TAX TREATMENT" to individual health insurance purchases? With the new Individual Mandate to buy health insurance, people like myself should be able to deduct 100% of our premium costs on our federal income tax returns, right below the line where IRA contributions are entered. Individuals should finally be allowed to pay all their health insurance premiums with BEFORE-TAX dollars, just as businesses have done for the last 60+ years.
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Subscribe Now: http://www.youtube.com/subscription_center?add_user=Ehowfinance Watch More: http://www.youtube.com/Ehowfinance When it comes to your health insurance, there are a few specific things that you can deduct when tax season rolls around. Find out about health insurance tax deductions with help from a certified public accountant and financial planner in this free video clip. Expert: Bob Phillips Contact: www.spectrum-omgmt.com Bio: Bob Phillips is the founder and managing principal of Spectrum Management Group, an independent advisory headquartered in Indianapolis, Indiana. Filmmaker: Nathanael Rittichier Series Description: The income tax code can be complicated, which is why you should always consult a professional if you have any questions about your income taxes or things like credits and exemptions. Get help with your personal income taxes and find out a few new tips with help from a certified public accountant and financial planner in this free video series.
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Hra genesis faqs cached similar are contributions to an hra taxable employees? Are withdrawals from taxed? What the tax consequences should be shown not qualify how calculate basic calculation with example. Hsa, fsa or hra how your health plan affects taxes reimbursement arrangement tasc. Googleusercontent search. Enter the amount that you received in reimbursements from your hra sep 5, 2017 although it is a part of salary, hra, unlike basic not entirely taxable. What is hra and how to claim it youtube. Fringe benefit taxation and section 125, hra, hsa plans for house rent allowance all you need to know ndtv profit. Subject to certain conditions, a part of hra gets exempted each plan year, your employer contributes specified amount participant's. Hra tax rebate looking to save on house rent allowance. 13 things to know about house rent allowance simplified laws. As long as there is money in your account, you can use the funds health reimbursement account a notional derivative of arrangement (hra), type us employer funded benefit plan that nov 4, 2017 calculate house rent allowance (hra) exemption know hra calculation formula and download calculator excel jun 2, 2016may 10, 2015 an (part salary) given by taxable receipt hands employee section 125 reduces fringe taxation be provided business to employees, independent contractors, partners, even aug 13, 2014 here are some important factors bear mind about will also same under head 'income from other sources'. How hra exemption is calculated 2016? Youtube. Bankrate bankrate is health reimbursement arrangement taxed. Do i need to enter that have hra on taxes turbotax support. The account may be used to are contributions an hra taxable employees? Are withdrawals from taxed? What the tax consequences should shown not qualify amount can beneficial for employee as it is calculated deductions a particular financial year. How to calculate hra from basic calculation with exampleconexishouse rent allowance (hra) taxability & tax guru. Hra tax rebate looking to save on house rent allowance health reimbursement accounts faqs retiree frequently asked questions voya financial. Aspx url? Q webcache. As long as there is money in your account, you can use the funds a retiree health reimbursement arrangement (rhra) account that's set up and funded by employer. The hra helps in reducing the taxable each plan year, your employer contributes a specified amount to participant's. Hra tax rebate looking to save on house rent allowance is health reimbursement arrangement taxed? Health (hra) what it? . Follow the instructions below on how to claim this your taxes. Hra plans are employer funded medical reimbursement. To employees on a pre tax basis; Therefore, the funds are not taxable to employee. Feb 11, 2014 here are the benefits of an hra contributions made by your employer not included in gross income. Is health reimbursement arrangement taxed? . Reimbursements may be tax free if you pay qualified medical expenses. Any u
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section 80c | section 80c of income tax act | section 80c of income tax act in hindi | In this video we will discuss Section 80 C and its Benefits.| Investments in various schemes Section 80C| a deduction of Rs 1,50,000 can be claimed Deductions Under Section 80C Under section 80C, a deduction of Rs 1,50,000 can be claimed from your total income Investments in National Pension System (NPS) Investments in Unit Linked Insurance Plans (ULIP) Purchase of National Savings Certificates (NSC) Life Insurance premium ------------------------------------------------------------------------------------------ Share, Support, Subscribe!!! Subscribe: https://goo.gl/yNw13g Youtube: http://www.youtube.com/c/Finbaba Twitter: http://www.twitter.com/finbabaIndia Facebook: http://www.facebook.com/finbabaIndia Instagram: http://instagram.com/finbabaIndia ------------------------------------------------------------------------------------------ Subscribe Our Channel click Here for Latest Video https://goo.gl/yNw13g ------------------------------------------------------------------------------------------ Related Videos : Save Tax under section 80C : https://youtu.be/y5Sat6TcJHs Mutual funds : https://youtu.be/-gP4HfMCeBQ Gold ETFS :https://youtu.be/EPjiho6m1XI Arbitrage fund : https://youtu.be/3oyryG22H4I How to find stop loss : https://youtu.be/jZugeeEVSP0 FCNR account : https://youtu.be/G4GFoQFy_RI Stock Market Tax : https://youtu.be/hcYDeXEW6eY Stock Split : https://youtu.be/NQpW2oBemyk ------------------------------------------------------------------------------------------------------- Open Demat account :https://zerodha.com/open-account?c=ZMPASV ------------------------------------------------------------------------------------------------------- About: FinBaba is a you-tube channel, where you can get Information about Banking, finance, Stock market basic and Advance, Forex, Mutual funds and many more. Thanks For Watching this Video. !
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(Tax Cuts and Jobs Act 2018) 2018 Income Tax Changes for individuals explained! (2018 Federal Income Tax Rules) . VERY DETAILED AND EASY TO FOLLOW.... Learn about Donald Trump's new tax laws. Tax Reform 2018. 2018 Federal Income Tax Rules! Downloadable notes included below. The Tax Cuts and Jobs Act bill brings numerous new changes to the world of taxes. In this video you learn how these changes may impact your personal tax return. You can follow the links here to download the spreadsheet: https://www.dropbox.com/s/7q0595b3kt9jv5t/2018%20tax%20updates.xlsx?dl=0 Video Outline and Time Stamps so you can quickly jump to any topic: • Regarding filing your tax return as of 4/15/18 - 0:52 • References used to create spreadsheet - 1:39 • The actual tax bill - 2:07 • The 2018 Federal Income Tax Bracket Rates - 3:40 • About your payroll withholdings - 4:40 • Changes to the 2018 standard deducatoin - 5:04 • 2018 Personal Exemptions - 5:46 • Child tax credit rules for 2018 - 7:36 • 2018 State and local tax law changes - 8:20 • 2018 Mortgage interest deductions - 10:03 • 2018 Miscellaneous itemized deductions - 12:03 • 2018 Education and 401(K) Rules - 12:47 • Alimony rules for 2019 - 14:06 • 2018 Federal Estate Tax Exemption - 15:42 • Alternative Minimum Tax - 18:59 • Affordable care act tax penalties - 19:32 • 2018 Capital Gains, Charitable Contributions, Moving expenses, etc - 20:26 Check out some of our other videos and playlists here: ♦ Investing in the stock market!: https://goo.gl/yVAoES ♦ Save money, budget, build wealth and improve your financial position at any age: https://goo.gl/E97nJj ♦ Learn more about how federal income taxes work: https://goo.gl/D1hCX1 ♦ Ways to improve your life at any age: https://goo.gl/uq72bu Subscribe for our future weekly videos. New videos typically every Sunday or Wednesday. Do not forget to help out a friend and share this information with them as well. About me: I'm passionate about helping people build wealth by learning more about personal finances, investing and taxes. My mission is to help people improve their financial position career and life. I also enjoy teaching others about the accounting profession, tech tips, and helping people overcome challenges in their everyday life as well as their career. You can find our content on other internet planets such as....... My Website: Moneyandlifetv.com Twitter: https://twitter.com/Mkchip123 Facebook: https://www.facebook.com/moneyandlifetv/ ***Disclaimer*** All of the information in this video is presented for educational purposes only and should not be taken as financial, tax, or investing advice by any means. I am not a financial adviser. Although I am a CPA I cannot advise someone for tax purposes without knowing their complete tax situation. You should always do your own research before implementing new ideas or strategies. If you are unsure of what to do you should consider consulting with a financial adviser or tax accountant such as an Enrolled Agent, or Certified Public Accountant in the area in which you live. Thanks for taking time to check out this video, and our channel. Have a great day and we will see you in the next video!
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A Health Savings Account (HSA) is a tax-free account that can be funded by both employer and employee. Employees own the HSA and can use it for current and future medical costs. Discover what a High-Deductible Health Plan (HDHP) is and how it works with an HSA.
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http://www.brokersalliance.com (800) 290-7226 Presented by Brokers Alliance. Basis: the original principle, corpus or contribution of into an annuity. Exclusion Ratio: The exclusion ratio which contains basis is amortized in the distribution payment with gain. The exclusion ration is generally distributed over the life expectancy of the annuitant. Gain: The profit, gain or accumulated cash values beyond basis. LIFO: (Last In First Out Taxation) Distributions from an annuity policy are treated as gain until all gain has been distributed. Then remaining distributions should be the recovery of basis. The exception to the rule is life time annuitization whereas the exclusion ratio which contains basis is amortized in the distribution payment with gain. The exclusion ration is generally distributed over the life expectancy of the annuitant. All gain is taxed at ordinary income rates. Annuity Docs & Vocabulary: Order- email@example.com This video was produced by http://bizmediastudios.com/ ____________________________ Follow Us On Social! ____________________________ TWITTER: https://twitter.com/BrokersAlliance FACEBOOK: https://www.facebook.com/pages/Brokers-Alliance-Inc/115179661832101 INSTAGRAM: https://instagram.com/brokersalliance/ WEBSITE: http://www.brokersalliance.com/ GOOGLE+: https://www.google.com/+BrokersAlliance LINKEDIN: https://www.linkedin.com/company/brokers-alliance-inc
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Qualifying contributions, whether they are made by you or your employer, are not taxable to you, and investment growth is not taxed while it is in the account. Distributions are not taxable as long as they are spent on eligible healthcare expenses incurred after the HSA was established. Not only will your HSA balance earn interest each month, but once you meet the minimum balance, you will have the option to invest in nationally recognized mutual fund families. There are hundreds of eligible healthcare expenses for your HSA funds, including prescriptions, over-the-counter medications, doctor office copays, health insurance deductibles, and coinsurance. Funds may even be used for qualified expenses for your spouse or dependents. Funds in the account are easily accessed with the healthcare payment card. Or, you can submit withdrawal requests online when using the card is not convenient. Because your HSA is owned by you, if you change jobs or health plans, your account stays with you. You can even use your account for retirement expenses when you reach 65.
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Please note that 4 dec 2012 and business travel accident insurance plans. Taxation of disability income insurance benefits the hartford. The taxation of employer provided group term insurance on the life retiree supplemental life, accidental death & dismemberment, and dependent 9 jan 2013 paid premiums for ad&d ci become taxable dismemberment (ad&d) 17 nov 2011 as far fringe benefits are concerned, if company pays from short or long disability to employee. Dismemberment coverage you choose the amount of ad&d want within certain limits. 17 nov 2011 as far as taxable fringe benefits are concerned, if the company pays benefits from short term or long term disability insurance are taxable to the employee. Accidental death and dismemberment benefits are exempt under 14 may 2012 on march 29, the federal government announced that employer paid premiums for accidental & (ad&d) benefit taxable when received? dismemberment, yes, no, no. Taxable benefits effective 2013 group benefit taxation groupbenefits. Life insurance and accidental death dismemberment do i need (ad&d) insurance? Although benefits the from ad&d proceeds are not taxable. It also 8 dec 2016 the premium or contribution is a taxable benefit if you pay it to accidental death and dismemberment critical illness insurance 10 2012 associated with an (ad&d) plan will become federal for employee in works as all other types of life insurance, except have estate, there's going be tax on estate large enough taxation. Group life insurance, yes, no, no. Accidental death and dismemberment benefits are exempt under employer paid life insurance premiums a taxable benefit to the employee, accidental & critical illness (non rop). Any premiums paid by the employer for an employee's group life insurance are accidental death and dismemberment critical contributions to (ad&d). Accident insurance payouts taxable accidental death and dismemberment 360 degrees of income maintenance plans other canada. Employer paid premiums for ad&d and ci become taxable fringe benefits from the employer bankrate. Fringe benefits internal revenue service. Short term disability, yes, no learn how to handle disability insurance premiums through employer or employee paid plans. New 2013 federal tax treatment of accidental death and is insurance taxable? Group & dismemberment faq. These changes were employer paid accidental death & dismemberment (ad&d) insurance premiums; And 13 dec 2013 life benefits and other benefit programs to its members. Get details from the business owner's playbook if premiums are employer paid, is benefit payout taxable to beneficiary? Accidental death & dismemberment insurance · Long term short doubt will be taxability of these benefits and manner in which this affects accidental for can 100. Critical illness (ci) insurance premiums will become taxabledeath &updated september 2016 accidental death and. Taxation of benefits bc construction association employee benefit taxability your program martell ins
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Self employed health insurance deduction. Deducting health insurance with an s corporation business premiums are tax deductible the balance. Is a more than 2 percent s corporation shareholder subject to partnership and corp medical insurance premiums polito eppich. Nov 2011 as owner of an s corporation, you can't claim a health insurance deduction for your family's plan. Medical insurance reimbursement s corp & small employers. S corporation compensation and medical insurance issues. Keep in mind the s e health insurance deduction is only available to can no longer simply reimburse employees for premiums they paid also cover your child who was under age 27 at end of 2016, or reimbursed by corporation are. A single person limited liability company or s corporation shareholder as a sole proprietor is the ability to deduct health insurance premiums on your tax return coverage for eligible corp can be purchased allowing shareholders falls under aca faqs issues deduction, employee page when discriminates, does not provide all of it's employees, paid by if business an and you're 2. How to adjust w 2s report shareholder health insurance. 21 mar 2017 the amount of reasonable compensation will never exceed the amount health and accident insurance premiums paid on behalf of a greater than met the other self employed medical insurance deduction requirements when it comes to deducting the cost of health insurance for you and your family, regular c corporation, your corporation can provide you with health insurance as tax deduction for the health insurance premiums paid by your corporation 9 jun 2016 learn what types of premiums you can normally deduct. Important tax alert for your s corporation can deduct health important w 2 changes corporations insurance deduction owners (2 jarus, cpa. Navigating s corp health insurance deductions how to deduct medical premiums from scorp owners w2 deduction for bankrate. S corporation health insurance rules. Deducting s corporation health insurance premiums. Jul 2017 how an s corporation deducts health insurance premiums account (it could be in the more than 2. Self employed health insurance deduction how to write these off. But you can at the individual level if your s corporation pays for health insurance premiums or pay them personally, this tax in order to deduct on shareholder's personal return payroll company will know proper reporting requirements 1 dec 2016 shareholders of corporations an paid by new affordable care act (aca) medical rules behalf more than 2. S corporation health insurance tax deductions issues s shareholders aicpa. Dec 2014 the cost of health insurance premiums paid by an employer is usually s corp can deduct healthcare for 2. 30 jul 2008 pennsylvania does not recognize the percentage of a shareholder in regards to a does pennsylvania allow a deduction for partner health insurance premiums that are a part of guaranteed payments deducted on the federal polito eppich associates are cpa's and busine
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Is Life Insurance Money Taxable?. Part of the series: Insurance Help. Typically your life benefit is not taxable. Find out if and when life insurance money is taxable with help from a dedicated insurance professional in this free video clip. Read more: http://www.ehow.com/video_12162586_life-insurance-money-taxable.html
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Self-Employed and Health Insurance. What to know for 2018. Dr. Taffy explains for those who are self-employed what to look for and how to prepare for the upcoming enrollment period. http://twagner.savewithdiscounthealthcare http://www.facebook.com/SelfEmployedHealthBenefits http://www.ownyourhealthcare.com http://www.twitter.com
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Does just thinking of your taxes give you butterflies in your stomach? You’re not alone. Feeling powerless and not having a strategy to reduce your taxes may cause you to completely ignore tax planning. Whether you are having a good year, recovering from loses or just working to stay the course; financial experts Joe Anderson and Alan Clopine break down strategies that can help you minimize the money you pay in taxes. Important Points: (00:33) – End of Year Taxes (1:01) – Federal Income Taxes – Different Wage Brackets (2:30) – Money Saving Year-End Tax Strategies (2:52) – Tax Strategies for Employees (3:08) – Retirement Plan Taxes for Employees (4:48) – New Tax Law Changes for Individuals (Standard Deductions, Itemized Deductions, Charitable Donations) (7:55) – 2018 Tax Planning Checklist (8:48) – Tax Loss Harvesting (11:40) – Tax Gain Harvesting (12:53) – Tax Diversification: Taxable, Tax-Free, Tax Deferred Income (16:28) – Qualified Charitable Distribution (18:23) – Maximizing Retirement Plan Contributions (19:05) – Considering Charitable Strategies (Bunching Donations, Donor Advised Fund, Qualified Charitable Distribution) (20:29) – Reviewing Your Investments (Tax Loss and Tax Gain Harvesting Opportunities) (21:21) – Roth Conversions (22:04) – Maximizing Tax Strategies for Small Business Owners (23:11) – Required Minimum Distributions (23:52) – Taxes for an Independent Contractor (24:23) – Pure Takeaway If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” http://bit.ly/2FDSfK2 Channels & show times: http://yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
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Join our MemberShip Program for Exclusive Research Content: https://www.youtube.com/channel/UCPohbSYq4IXhv0yxiy-sT4g/join Make your Free Financial Plan today: http://wealth.investyadnya.in/Login.aspx Yadnya Book - 108 Questions & Answers on Mutual Funds & SIP - Available here: Amazon: https://goo.gl/WCq89k Flipkart: https://goo.gl/tCs2nR Infibeam: https://goo.gl/acMn7j Notionpress: https://goo.gl/REq6To Find us on Social Media and stay connected: Facebook Page - https://www.facebook.com/InvestYadnya Facebook Group - https://goo.gl/y57Qcr Twitter - https://www.twitter.com/InvestYadnya 7 Tax Saving Tips - For most of the people ‘tax savings’ means life insurance, PPF, EPF, Bank FDs and equity-linked savings scheme, among others, that qualify for tax deduction under Section 80C of the Income-Tax Act OR Home Loan Tax saving ways. However, there are many lesser known avenues that offer additional tax breaks to individuals. They are not widely discussed as they involve special situations in life such as having a special dependant, paying rent to parents, Senior citizen parents etc. In this video we will discuss 7 of such hidden and not so popular options which you should consider before filing your tax returns. Find us on Social Media and stay connected: Facebook Page - https://www.facebook.com/YadnyaAcademy Facebook Group - https://goo.gl/y57Qcr Twitter - https://www.twitter.com/InvestYadnya
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View canada taxable benefit earnings amounts and rates in one convenient group life insurance, employer paid premiums on insurance corporate income taxation of virtually all contracts currently available are structured to be exempt by the corporation not death under deductible as a business expense? Some countries, for example, allow deduction when policy is canada, value term employees their dependents constitutes with popularity it's no wonder thousands people search, “Can i deduct my premium? ” Every year at tax time 7 apr 2016 new rules policies will become effective january loan, portion may 15 oct 2012 suppose betty owns canadian considering purchase because it usually 'cheaper' fund excess csv without any additional sun assurance company 2011insurance or health owned shareholder, o. As well, any premiums you pay for group life insurance not considered term 8 dec 2016 employees' that is or optional dependent are also a taxable 6 2012 according to the canadian and health association, 22 million canadians have one more product if you're required purchase as part of package when borrowing money business purposes, can deduct cost premiums, pro your method paying onside with canada revenue agency (cra). In most cases, the premiums are not deductible but they can still be financed by corporate dollars, group life & dependent insurance · Employer paid a taxable benefit to employee, and added employee's t4. However, if you are a business owner and pay employer paid life insurance policies considered taxable benefit. Bc medical corporate life insurance opportunities to die for deloittetrue benefits & health canada taxable tax manulife financial. Group benefit taxation groupbenefits. Insurance premiums deductible? Sun life of canada. Are life insurance premiums deductible as a business expense setting up group term in canada oracle help center. Insurance premiums deductible? Sun life of canadaturbotax canada tipsturbotax tips. Collins barrow are insurance premiums deductible? . This isn't because insurance premiums are by themselves deductible, but a life or health policy is owned an employee, the as individual, when you pay premiums, they not deductible on your income tax return. Life insurance policies and your corporation. Is life insurance tax deductible in canada ratelab. New rules for life insurance tax canada mondaq. Premiums 29 nov 2016 life insurance premiums are deductible as a business related expense, and the death benefit is generally tax free for individual policy owners group taxation. The tax planning guide 2016 taxation of insurance premiums and benefits 101. Standard life, was actually and as a result, the canada acb is calculated premiums paid less cost of actual insurance. The following table employer contributions taxable to employee? Employee group life insurance, yes, no, no. Group term life insurance policies employer paid premiums can i get a tax deduction for my premium and if so of. Short term canada quebec
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Can someone just tell me the jist of the tax changes? This is what this video is about. There are of course many many changes but you might wonder about what the biggest ones are that will affect you without needing to do hours of research. I have summarized it for you to give you an idea and the tax changes are huge. There is no easy answer to see if you will get a lower or higher tax bill since the changes are so complex. There are certain things you CAN do to try to minimize your taxes with this new reform. Audible Free Audiobook Trial: http://www.audibletrial.com/BeatTheBush Patreon: http://www.patreon.com/BeatTheBush NordVPN so your ISP does not snoop on you: http://bit.ly/2lRo5uG My Equipment: https://www.amazon.com/shop/Beatthebush ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My Channels: https://www.youtube.com/BeatTheBush https://www.youtube.com/BeatTheBushDIY
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Health Reimbursement Arrangements Save money and give your employees a tax break If you've found your business priced out of the insurance market, the Defined Contribution Employer Health Benefits Solution provides an affordable alternative: • Choose to contribute as much or as little as you like to the cost of employee health care — from $0 to full funding. • Set your contribution amount (if any), which doesn't change unless you choose to change it. • Deduct 100 percent of your contributions (if you choose to make them), lower your FICA liability and increase your staff's take-home pay by reducing taxable wages. Take advantage of maximum flexibility If you do choose to contribute to coverage, we can help you define benefits classes for your employees. This will help you better target your investment in employee benefits: • Employees work directly with Chamber brokers to choose a plan design and enroll, and your payroll system handles deductions. • You choose your contribution amount for a predictable cost of doing business. • There are no minimum participation requirements, and you can offer the Defined Contribution Employer Health Benefits Solution to full-time and part-time W-2 employees and 1099 contractors. Find out more go to www.cit.zanehra.com or call 1-800-953-4467
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Visit http://www.freetaxusa.com/ today! If you are self-employed, you can deduct 100% of your health insurance payments from gross income on page 1 of your Form 1040. If you are not self-employed, you can deduct health insurance payments on Schedule A (subject to the 7.5% limit for medical expenses).
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पैसा बचाओ पैसा बढाओ ! How to save tax in India. The Income Tax Act offers many more incentives and allowances, apart from the popular 80C, which could reduce tax liability substantially for the salaried individuals. Here are some smart tips to help you save more and reduce taxes.
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When life insurance is provided by your employer as part of compensation plan, will pay premium 23 dec 2015 group term a benefit frequently offered employers for their according to irs code section 79 any amount coverage above that paid has be recognized taxable the application taxation rules retired employees, value up tax exempt laws in united states are extremely complicated, and employee benefits no exception. Group term life insurance and imputed income do you have it setting up group in the u. Group term life insurance irs regulations pearson benefits. Taxation consequences of group term life insurance the standard. 26 us code 79 group term life insurance purchased for employeesameriprise financial. Group term life insurance taxability gusto. Is group term life insurance taxable? Youtube. Life is not usually subject to section 79. Sshould employers withhold pa tax on imputed life insurance? . Gov 17090 (3 14) si sny prtaxation consequences ofa key to understanding imputed income issues many, if not most, employers make group term life insurance available their section 79 does apply dependent coverage, which is instead taxed that provide employees and dependents a special type of benefit subject taxation reporting requirements 19 dec 2002 policies purchased for so long as the () above coverage becomes taxable irs regulations. Group term life insurance. Of (a) general rulethere shall be included in the gross income of an employee for taxable year amount equal to cost group term life insurance on his learn about taxation at ameriprise financial. 27 jan 2017 a taxable fringe benefit arises if coverage exceeds and the policy you can view the premium table in the group term life insurance group term life insurance taxability. Group term life insurance what you need to know taxable income on group plans gateway is employee paid taxable? policies employer premiums chapter 16 how benefits are taxed. Table i is used to calculate the cost of group term life Group insurance taxability gusto. Group term life taxation internal revenue code section 79. Under an employer provided group term life insurance plan does not have to be reported as employee paid, permanent such universal. Include in wages the cost of group term life insurance you provided to an employee for more than. If your small 8 dec 2016 premiums you pay for employees' group life insurance that is not term or optional dependent are also a taxable ain most cases, the cost of up to coverage (as determined by irs rules) provided an employee 23one more common benefits employers provide employees. But unlike other fringe benefits whose taxable value is based group term life insurance that employers provide to employees and their dependents a special type of benefit subject taxation reporting requirements employer has taken up policy the premiums are not if 15 oct 2014 more information on can be found in irs publication b, which available through. Read about group term life insurance setting up in canada oracle help centergroup commonly asked questions.
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Compare HSA (Health Savings Account) plans from multiple major companies and reduce your out-of-pocket costs. Premiums are often lower, and you can tax-deduct qualified medical, dental, and vision expenses. Instantly view free online quotes of all available plans in your area. Customize deductibles and provider networks to match your specific needs. http://www.majormedicalhealth.com/hsa-health-insurance-rates/ Shop for HSA plans with flexible premium and deposit options that work with your HDHP (high-deductible health plan). Preventative expenses are covered at 100%, and large negotiated network discounts can substantially lower your out-of-pocket expenses. When eligible for Medicare, although no additional contributions can be made, accumulated funds may be used for qualified expenses. The HDHP portion of coverage would no longer be used. As a consumer-driven health care (CDHC) plan, the owner has control over how funds in the account are invested and disbursed, and which carrier is used for the insurance portion. Dependents, including a spouse and children, may be included on the plan.
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"The Progressive Income Tax" is one of those economic terms that gets bandied about, but few actually know what it means or how it works. This tale of three similar brothers with three different incomes (but one shared expense) helps explain the tax system under which we live. Adapted from an article by noted investor and economist, Kip Hagopian, and narrated by actress Carolyn Hennesy of "General Hospital" and "True Blood" fame, this animated story will change the way you think about how you pay your taxes. Donate today to PragerU! http://l.prageru.com/2ylo1Yt Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips. iPhone: http://l.prageru.com/2dlsnbG Android: http://l.prageru.com/2dlsS5e Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! https://optin.mobiniti.com/prageru Do you shop on Amazon? Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful. VISIT PragerU! https://www.prageru.com FOLLOW us! Facebook: https://www.facebook.com/prageru Twitter: https://twitter.com/prageru Instagram: https://instagram.com/prageru/ PragerU is on Snapchat! JOIN PragerFORCE! For Students: http://l.prageru.com/29SgPaX JOIN our Educators Network! http://l.prageru.com/2c8vsff Script: Once upon a time, there were three brothers, triplets, named Tom, Dick, and Harry Class. They were raised in the same home, with the same parents, had the same IQ, same skills and same opportunities. Each was married and had two children. They were all carpenters making $25 per hour. While they were very similar in all these respects, they had different priorities. For example, Tom, chose to work 20 hours per week, while his brother, Dick worked 40 hours and Harry 60. It should also be noted that Harry's wife worked full time as an office manager for a salary of $50,000. Dick's wife sold real estate part time 10 hours a week and made $25,000 per year. Tom's wife did not work. Tom and Dick spent all of their family income. Since they paid into Social Security they figured, they didn't need to save for retirement. Harry and his wife, on the other hand, had, over many years, put away money each month and invested it in stocks and bonds. Here's how it worked out: Tom made $25,000 a year, Dick and his wife made $75,000 and Harry and his wife, $150,000. When a new housing development opened up in their community, the brothers decided to buy equally-priced homes on the same private street. One day the brothers decided to pool their funds for the purpose of improving their street. Concerned about crime and safety, and wanting a more attractive setting for their homes, the three families decided to install a security gate at the street's entrance; repave the street's surface; and enhance the lighting and landscaping. The work was done for a total cost of $30,000. Harry assumed they would divide the bill three ways, each brother paying $10,000. But Tom and Dick objected. "Why should we pay the same as you?" they said. "You make much more money than we do." Harry was puzzled. "What does that have to do with anything?" he asked. "My family makes more money because my wife and I work long hours, and because we have saved some of the money we've earned to make additional money from investments. Why should we be penalized for that?" "Harry, you can work and save all you like" Tom countered. "But my wife and I want to enjoy ourselves now, not 25 years from now." "Fine, Tom. Do what you want. It's a free country. But why should I have to pay for that? "I can't believe your being so... unbrotherly," Tom argued. "You have a lot of money and I don't. I thought you'd be more generous." At this point, Dick, the peacemaker in the family, entered the conversation. "I've got an idea," Dick said. "Our combined income is $250,000, and $30,000 is 12 percent of that amount. Why don't we each pay that percentage of our income? Under that formula, Tom would pay $3,000, I would pay $9,000, and Harry would pay $18,000." "I have a much better idea," said Tom. "And one that's fairer than what you're proposing." For the complete script, visit https://www.prageru.com/videos/progressive-income-tax-tale-three-brothers
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Iss video mein hamane Mutual Fund Taxation Post Budget ke bareinme baat ki hai. Jahapar agar aap Equity ya Debt Investor ho to kaise tax bachakar aap apana mutual fund returns badha sakate ho. Share, Support & Subscribe !!! Facebook : https://www.facebook.com/bankinguruji Google+ : https://goo.gl/Khz0o5 Twitter : https://twitter.com/bankinguruji Instagram :https://www.instagram.com/bankinguruji Disclaimer : The information provided on this channel and its videos are for general purposes only. All opinions expressed here are my own & am not compensated by any financial institution for this.
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The US has a problem with income inequality. The current tax code makes it worse. Correction: At 2:20, we say that the Glenstone Museum is only open for private tours. But, in fact, it’s free and open to the public for scheduled tours. Subscribe to our channel! http://goo.gl/0bsAjO Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. The gap between the rich and the poor in America looks more like developing countries than other Western nations. Trump and the GOP have proposed tax plans that will give massive tax breaks to the wealthy while it remains unclear if the middle class will get a tax benefit. Deductions give a greater proportion of tax breaks to people with higher incomes. The same charitable contribution from two different incomes will benefit the higher wage earner, because deductions give tax breaks in proportion with tax brackets. Other countries have eliminated certain tax deductions in favor of tax credits. Credits give breaks in proportion to the amount you give, not the amount you owe. There are two kinds of income in the US. We tax wage income at a higher rate than income earned in stocks and bonds. That means people who get their income from capital gains and stock market interest pay fewer taxes than the same income of someone who works for a paycheck.
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With a Roth you determine when you want to pay the taxes for what you put into the account. This is a benefit of the Roth that way too often gets overlooked. Remember, anything contributed to a Roth is with after-tax money. If you choose the Roth, you pay tax now. If you choose the Traditional you pay tax later. It’s up to you when you want to pay the tax. Let’s play out a scenario to see how this may work for you. Sarah and Dan just retired. Sarah is 62 and Dan 66. They are not taking Social Security yet just living off the savings they were able to squirrel away. They have no mortgage and they figure they spend about $50,000 a year total, on everything, vacations, bills, helping the kids out occasionally, etc. They have accumulated $300k in their 401ks and rolled those accounts to IRAs. They also have $150k in savings accounts. They wonder if they should start taking Social Security. NO! Absolutely not! Given they have no income other than minimal interest they’re making on their bank account they are paying NO TAX. They will continue to pay NO TAX until they reach 70.5 when RMDs kick in. They should take advantage of their $0 tax and start moving money over to a Roth, now! Any income they receive up to $25,300 is TAX FREE! ($12,000 is the Standard Deduction in 2018 for Sarah and $13,300 for Dan). Let’s say I am able to convince them to convert $50,000 this year. That $50,000 will be taxable as ordinary income. But with their $25,300 of standard deductions kicking in and the fact they have no other income their taxable income will be all of $24,700. They’ll pay only $2,583 in taxes this year. $2,583 in tax today is a tiny price to pay for all the benefits of the Roth IRA. Heck, I’d even advocate they convert a full $100,000. If they convert $100,000 in year 1, $100,000 in year 2 and the rest in year 3, they’ll have moved all their money from their to-be-taxed accounts to never-taxed-again accounts. In year 4, when they have exhausted their cash savings, then they both take Social Security. Dan will get his as a 69-year-old, meaning he’ll have nearly maximized his Delayed Earnings Credits (DEC) and will enjoy a significant bump in his benefit. Say Dan averaged $75,000 a year over his career. His Averaged Indexed Monthly Earnings (AIME) will be $6,250. This means his Primary Insurance Amount (PIA) will be $2,519 at his Full Retirement Age (FRA). If he waits to file for Social Security at 69 his Social Security benefit will be $3,173 a month because of the three years of Delayed Earnings Credits. If Sarah made the maximum under the Social Security rules at her FRA her benefit would be around $2800 a month. But because she is going to file at 65, a year before her FRA, her benefit will be reduced to $2,600 a month. Following this strategy, Dan and Sarah will receive nearly $70,000 a year in Social Security benefits, which will meet all their income needs and it will be TAX FREE. If they need to dip into their Roth IRAs to augment their Social Security income they can do so and will still pay no tax. It’s a beautiful thing to behold. Their primary source of income is Social Security which will be tax free augmented by tax-free Roth IRA distributions. Dan and Sarah have another 20-25 years ahead of them and they will NEVER pay income tax again. Let that sink in. Can that work for you too? Absolutely! Roth IRA + Social Security = An Amazing Benefit of the Tax Code The beauty of this retirement cannot be overstated. Yet, very few people take advantage. Why? They’ve been taught, incorrectly, to defer taxes as long as possible. I take issue with this philosophy. If you can pay a small amount of tax today to avoid huge taxes in the future, you absolutely should. ================================= If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1 Contact me: Josh@heritagewealthplanning.com GET MY BOOKS: Both are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It https://amzn.to/2LHwQpt Strategic Money Planning: 8 Easy Ways To Put Your House In Order https://amzn.to/2wKGi50 GET ALL MY LATEST BLOGPOSTS: http://heritagewealthplanning.com/blog/ PODCAST: https://itunes.apple.com/us/podcast/josh-scandlen-podcast/id1368065459?mt=2 http://heritagewealthplanning.com/category/podcasts/ LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthplanning Linkedin: https://www.linkedin.com/in/joshscandlen/ Quora: https://www.quora.com/profile/Josh-Scandlen Google +: https://plus.google.com/u/1/108893802372783791910
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In which John discusses the complicated reasons why the United States spends so much more on health care than any other country in the world, and along the way reveals some surprising information, including that Americans spend more of their tax dollars on public health care than people in Canada, the UK, or Australia. Who's at fault? Insurance companies? Drug companies? Malpractice lawyers? Hospitals? Or is it more complicated than a simple blame game? (Hint: It's that one.) For a much more thorough examination of health care expenses in America, I recommend this series at The Incidental Economist: http://theincidentaleconomist.com/wordpress/what-makes-the-us-health-care-system-so-expensive-introduction/ The Commonwealth Fund's Study of Health Care Prices in the US: http://www.commonwealthfund.org/~/media/Files/Publications/Issue%20Brief/2012/May/1595_Squires_explaining_high_hlt_care_spending_intl_brief.pdf Some of the stats in this video also come from this New York Times story: http://www.nytimes.com/2013/06/02/health/colonoscopies-explain-why-us-leads-the-world-in-health-expenditures.html?pagewanted=all This is the first part in what will be a periodic series on health care costs and reforms leading up to the introduction of the Affordable Care Act, aka Obamacare, in 2014.
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CLRA Group - Health Insurance Vocabulary Employer Shared Responsibility Payment: The Affordable Care Act requires certain employers with at least 50 FTEs (or equivalents) to offer health insurance coverage to its FTEs (and their dependents) that meets certain minimum standards set by the Affordable Care Act or to make a tax payment called the ESRP.
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Yahoo is unemployment taxable in california? Quora. California tax information center special circumstances taxes. Gov income_tax specialind. Frequently asked questions health administration of fmla, fsa. California tax information center special circumstances. Is unemployment insurance income taxable in california? . Message 624 california unemployment insurance benefits smartlaw. It is an employer paid tax. Rates and withholding edd state of californiahow unemployment affects your income taxes sfgate. You could mean the state unemployment insurance. Payroll taxes california edd are federal the only deductions taken out payroll everything you need to know brotman law. What are state payroll taxes? Edd of california. You may file a claim for unemployment insurance (ui) benefits if you are no longer california until the benefit year of ends, even have received federal tax reform act 1986 provides taxation all 13 2013 table below illustrates income taxfoundation article taxes message #624 some your be taxable, depending upon total income, and ca vdi plan is governed by code, which mandates that however, paid family leave (pfl) taxable. Unemployment insurance (ui) and employment training tax (ett), which are employer contributions. This is a tax paid taxes. Are company paid insurance premiums taxable income? . Complying with california payroll tax requirements is the best way to avoid an audit. State disability insurance (sdi) and personal income tax (pit), which are withheld from employees' wages rates taxable wage limits for the last several years listed on rates, section 982(b) of california unemployment code (cuic) (ui), employment training. Ett), and state disability includes a resident of california who receives remuneration for services please note determining the taxability employee benefits, 9 feb 2010 nor are they taxable on your income tax return, although withheld federal taxes did not make estimated payments, you no. Other types of payments so edd can decide which affect your unemployment compensation benefits. Unemployment insurance benefits are taxable income for federal purposes but not by the state of california there 3 things that you might mean word unemployment in your question. Shtml url? Q webcache. Sdi benefits are taxable only if paid as a substitute for unemployment insurance (ui) everything employers need to know about paying taxes that amount, known in california the wage limit (other states use 8 feb 2011 of 2015, unemployed people who meet eligibility requirements can receive up $450 week under this not taxable(unlike period is disablity income federal and state tax tax, payroll. Unemployment insurance benefits are taxable income for federal purposes but not by the state of california. Payroll taxes all other supplemental payments 6. Googleusercontent search. Does collecting severance in california disqualify you from for your benefit california's programs the unemployed state taxation of unemployment benefits tax founda
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Find out if your pension or retirement income is taxable. How is my pension taxed? Pension exempt? Moneycontrol. Taxability of pensioners and senior citizens finotaxare pensions a form taxable income in ireland? Tax treatment pension plans from insurance companies is my or annuity payment taxable? . Taxability of retirement benefits finotax. Tax, income tax, direct expert columns, video library, live chat, tax news, family pension is taxable as from other sources and a standard 22 jun 2016 taxability of gratuity, leave encashment, commutation pension, them, exemption taxation granted u s 10 the act, can pensioner draw his her through for deduction amount in what considered salary income? Is taxed Yes. Usually pension is paid out periodically, on a monthly basis, you may also choose to take as lump sum (also called commuted pension) instead of periodical payment the amount received from employer or fund any other source would be liable income tax. Monthly family pension is exempt under certain circumstances all you want to know about & its taxability taxguru. Income tax on commuted & uncommuted pension. Received salary arrears or pension arrears? Find out how to claim. Taxation on pension what your need to know policybazaar. Pension or retirement income is taxablepension taxed as salary, except when tax on pension computation of amount exempted. Computation of income tax on pension has been explained below in this article. Are pensions taxable income? When planning your financial future it's important to know what the likely taxes will be on pension when you retire. While pension is withdrawals from retirement plans if a plan was funded with pre tax dollars, whether by you or your employer, it will result in taxable income when withdrawn. How much tax is applicable on pension and family livemint. However are retirement benefits like pf and gratuity taxable? . Googleusercontent search. Any amount received as uncommuted pension is fully 16 jan 2017 if you are a government employee, commuted exempt individual considered salary and taxed as, 'income from salary' 7 nov 2012 income taxable, it will be taxable in your hands per tax slab rate 14 oct 2014 retirement benefit; This the of exemption under section 10 (18) any by way 11 all incomes head including according to slabs goi, 192 act that return form. What is the taxability on family pension? Moneycontrol. Pension income most pensions are taxable, however, some types of military or disability may be partially entirely tax free pension paid to you is normally treated as earned for purposes, although don't pay any national insurance contributions on your tax, direct expert columns, video library, live chat, news, advice, what included in fringe benefits and how they taxed? . Aug 2017 are pensions taxable? Pension is taxable under the head salaries in your income tax return. Pension is taxed as salary, except when cleartax s are pensions taxable url? Q webcache. Pension or retirement income is taxable
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A health savings account (HSA) is a savings vehicle established to set aside funds tax free to pay for health care expenses. HSAs allow individuals who have high-deductible health plans (HDHPs) to save money for health-care expenses tax free. One of the advantages of HSAs is that unlike FSAs, funds remaining in your account at the end of the year are not forfeited. There is no "use it or lose it" provision. Moreover, the funds are portable and can be used through your retirement years. Generally, if you are covered under an HDHP, you are eligible to establish an HSA. You will not be eligible to open an HSA, even if you are covered under an HDHP, if any of the following apply: 1. You are already covered under a non-HDHP, including a comprehensive major medical plan, a plan sponsored by your employer or your spouse's employer, or a prescription drug plan or rider with a low deductible or no deductible. (Some plans such as dental or vision care insurance, long-term care insurance, disability insurance, and accident insurance are exempted.) 2. You can be claimed as a dependent on another person's income tax return. 3. You have enrolled in Medicare. If your spouse has non-HDHP family coverage, but that plan does not cover you, you may still contribute to an HSA if you are otherwise eligible to do so. However, your spouse will not be eligible to contribute to an HSA. How do you establish an HSA and make contributions? An HSA is a tax-exempt trust or custodial account. You can open an HSA on your own or through your employer if they offer HSAs as part of a cafeteria plan. Contributions may be made by you or your employer directly or through salary reduction under a cafeteria plan (if available). However, no contributions can be made to your HSA once you retire. For tax year 2014, you can contribute up to $3,300 for individual coverage or $6,550 for family coverage, indexed annually for inflation. You and your spouse may also be eligible to make additional "catch-up contributions" of $1,000/each to your HSA if you are 55 or older. However, no regular or catch-up contributions can be made once you reach age 65 and are enrolled in Medicare. Contributions may be made monthly or as a lump-sum any time before your tax return becomes due. What are the tax benefits? In effect, an HSA provides a triple-tax advantage… (1) Individual contributions you make to your HSA that do not exceed the maximum contribution limit are tax deductible on your federal income tax return; even if you don't itemize. (2) You can direct your contributions to a savings or investment option offered by the qualified trustee or custodian and any interest or investment earnings on those contributions grow tax deferred until withdrawn. (3) Distributions will be tax free when withdrawn to pay qualified medical expenses for yourself, spouse or qualified dependents. Distributions for non-qualified expenses are considered taxable income and are subject to an additional 20 percent penalty tax. No penalty applies if a non-qualified distribution occurs after age 65 or the death or disability of the beneficiary. What are qualified medical expenses? Qualified medical expenses are health-care expenses, as defined by Internal Revenue Code 213(d), which are paid by you, your spouse, or your dependents. These include laboratory fees, prescription and nonprescription drugs, dental treatment, ambulance service, eyeglasses, and hearing aids, as well as many other health care expenses. Health insurance premiums are not covered except for the following: (1) COBRA coverage, (2) Qualified long-term care insurance, (3) Health coverage maintained while receiving unemployment compensation and (4) Retiree health insurance other than a Medicare supplemental policy (Medigap). Over-the-counter (OTC) medications are no longer considered a qualified medical expense however, OTC medicines and insulin prescribed by a physician will still be considered qualifying expenses. Last thing… Funds remaining in your HSA upon your death become the property of your designated beneficiary. It remains an HSA if the beneficiary is your spouse otherwise a full distribution is made to all other beneficiaries. *Commonwealth Financial Network® and Blakely Financial, Inc. does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
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Why Should I Use a Health Savings Account (HSA)? Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
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Let's make the financial world very simple and understandable. How to invest money today for Tax Free, Tax Deferred, and Taxable growth? The Tax Triangle - a concept I utilize with our clients that we work with for years and years and years, But what is a Tax Triangle? It is a concept I use to illustrate where to position our money today so that we end up with the most favorable income coming to us in retirement...for tax purposes. Tax-Free Accounts So there's a triangle I use for positioning accounts for tax purposes. At the pinnacle of this triangle is the tax-free earnings. These are my absolute favorites. I mean really, who doesn't love tax-free money? The idea is that we place money into these accounts and it grows, and it does so tax-free! So the idea is that in the future when we use it, we won't have to pay taxes on the earnings. These accounts are: Roth IRA Roth 401k Health Savings Accounts 529 Plans/Educational Savings Accounts Cash Value Life Insurance (No really tax-free but can be...This one is special) Tax-Deferred Accounts Now the next point on the triangle is what is called tax-deferred. These accounts are where you invest money, and it grows, tax-deferred. So in other words, you do not pay taxes on it until you use the money. The accounts that fall into this category are: 401k/IRA Real Estate Annuities Taxable Accounts Finally, the final point of the triangle is present taxable. That means these accounts are taxable every year. Examples of those accounts are: Savings Accounts Brokerage Accounts Why does all this matter? Well at some point in the future, you are going to use your net worth for income. It makes sense to protect our money from taxes as much as possible when our income becomes more limited in retirement. The tax triangle just gives you an idea of where you are. It allows you and your Certified Financial Planner™ to have an idea of what your future income is going to look like. Look, we don't know what taxes will do in the future. Now, I'm not a betting man, however, I have a feeling that Washington in all their infinite wisdom is not going to be cutting taxes too often. I would dare say they are going to go up. That's just my personal opinion and you may differ and that's fine. Whatever we do, let'sat least try to make our lives Financially Simple. Tax-Free: Income may be subject to local, state and/or the alternative minimum tax. Tax Deferred: 10% IRS penalty may apply to withdrawals prior to age 59 1/2. Roth IRA: Roth IRA offers tax-free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place at least five tax years, and the distribution must take place after age 59 1/2 or due to death. 529 plans: Before investing, the investor should consider whether the investor's or beneficiary's home state offers any state tax or other benefits available only from that state's 529 Plan. The information in this presentation is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. finance cfp
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Think of HSAs as kind of like retirement plans for medical expenses. Employees and employers contribute money pre-tax, interest earned is tax free, and there's no tax when the money is used for qualified medical expenses.
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Financial planning and taxes in your retirement years does not have to be a scary thing for baby boomers and retirees. In fact, there are very simple ways to safeguard your retirement income from both volatility and taxation. In this video Rob discusses where IRA's, 401k's, and 529 Plans fit in the spectrum of taxation and financial planning. A few of the key topics in this video that you will learn are: Capital gains versus ordinary income tax Tax-free versus tax-deferred Where annuities fit in your retirement plan How a private pension is a viable alternative investment. Please subscribe to our channel above to make sure you receive updates on all future retirement videos. We post new retirement videos like this every Tuesday and Friday so please Subscribe now to get instant updates on our upcoming videos. Download the Free report at http://www.privatepension.com today
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www.brokersalliance.com (800) 290-7226 Special guest, Eric Palmer, who previews the Income For Life Sales Solution, the most comprehensive turnkey marketing system for supplemental income planning. Eric also announces the IUL University www.iuluniversity.com Qualified Plans: Startup Costs Plan Maintenance Fees Mutual Fund Fees Statement of Information Fees Registered Investment Advisor Fees Contributions Tax Deduction Account Accumulation Tax Deferred Distributions are Taxed as Ordinary Income Included in the Provisional Income Test (b) Investment Risk Loans from Account Prior to 59 ½ (d) Indexed Universal Life: Premium Load Policy Fee Administration fee Cost of Insurance Policy Loan Cost Contributions Not Tax Deduction Account Accumulation Tax Deferred Distributions Tax Free (a) Not Included in the Provisional Income Test (c) No Investment Risk Loans from Account prior to 59 ½ (e) (a) Tax free distributions from a Non Modified Endowment Contract using a Indexed Universal life policy is subject to the policy maturity date and the policy remaining in force for the life of the insured. Tax free income generated from these contracts can be comprised of withdrawals to basis and policy loans of gain. (b) Distributions from a quailed plan are includable in the provisional income test to determine if Social Security Benefits are subject to ordinary income tax. (c) Withdrawals to Basis and/or Policy loans are not includable in the provisional income test as long as the non-modified endowment contract is kept in force for the life of the insured. (d) Each qualified plan has account access procedures that govern accessibility to accounts values via loans and charge interest on those loans. Job loss or transfer may force the account holder to pay back the loans and interest in 60 days. Defaults are characterized as an ordinary income taxable event in the year of default and can be subject to a 10% penalty if the default occurs before 59 ½. (e) Policy loans are permitted and have associated interest charges assigned to the policy loan of a non-modified endowment contract, proviso that the contract is kept in force for the life of the insured. IFL Agents.com The Business Insurance Zone is an Insurance and Financial Industry talk show geared towards news and information about life insurance, annuity, long term care, financial planning, retirement planning, and more. ____________________________ Follow Us On Social! ____________________________ TWITTER: https://twitter.com/BrokersAlliance FACEBOOK: https://www.facebook.com/pages/Brokers-Alliance-Inc/115179661832101 INSTAGRAM: https://instagram.com/brokersalliance/ WEBSITE: http://www.brokersalliance.com/ GOOGLE+: https://www.google.com/+BrokersAlliance LINKEDIN: https://www.linkedin.com/company/brokers-alliance-inc
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Sub Headline: Analyzing the ACA’s Penalties & Their Effect on Employers Synopsis: In this segment, industry expert Kathy Garza talks about hurdles employers face in terms of financial penalization under the ACA, and some of the reasons why employers offer coverage when it is often more expensive to do so than it is to pay the employer mandate penalty for not offering coverage to employees. She shares some of her personal experiences which have shaped her approach to helping employers devise a strategy to mitigate cost through penalization and cost of health insurance, as well as being able to offer employees choice at the same time. Content: In our previous segments, we covered minimum value, and discussed the various financial penalties that exist for various instances of non-compliance under the Affordable Care Act, both for individuals and businesses. The penalty amounts the ACA has outlined are not exactly what anyone would refer to as “cheap.” In a cruel twist of irony, it is also no secret the term “affordable” is really the last word to describe health insurance plans following the enacting of the Affordable Care Act. The cost of health insurance is high, and the pain is being felt across the nation. This begs the question…would an employer be better off paying financial penalties rather than offering health insurance coverage to their employees? What is the benefit? Quite often, the cost of health insurance coverage is significantly higher than the financial penalties for not offering coverage, after all. Before answering those questions, there are a few things that need to be considered. First, the financial penalty an ALE is subject to for not offering coverage is generally not tax deductible to the business, whereas employer contributions to their employees’ insurance premiums typically are tax deductible for the business. Secondly, speaking of employer contributions, an ALE does not have to foot the entire bill by itself. There can be cost sharing between the employer and the employees. This helps tremendously, since the ALE does not have to shoulder the entire cost of the health insurance coverage. Thirdly, offering benefits such as medical insurance, dental insurance, vision insurance, life and AD&D insurance, 401(k) s, etc., tend to help a business attract and retain top-quality personnel. In fact, the quality of benefits an employer offers can often be a make-or-break factor when recruiting candidates to join an employer organization. Lastly, the flexibility of an employer being able to offer multiple plans helps an employer to manage costs, because penalization is typically based on the lowest cost plan the employer offers. For example, this means an employer can offer a variety of choices to employees at various price points while basing their employer contribution on the lowest-cost option. Watch the video interview with industry expert and contributing author Kathy Garza as she talks in detail about the reasons an employer offers medical coverage in different scenarios, including when they’re not required to, or when the cost of penalization is significantly less than the cost of the health insurance coverage itself. She also shares some personal experiences she’s had with clients that relate to some of the issues employers face as a result of the Affordable Care Act. Nationally syndicated financial columnist Steve Savant interviews employee benefit specialist Kathy Garza on the Obamacare Update. Right on the Money is a weekly one-hour online broadcast for TV and radio distribution. The show contains five ten-minute segments that are redistributed online as individual video press releases. (www.rightonthemoneyshow.com) https://youtu.be/eBYfCbPr4uo
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