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Will there still be a tax deduction for self-employed health insurance premiums on your 1040?
October 18, 2013 | MrChips

Posted on 10/18/2013 11:44:00 AM PDT by MrChips

Please respond if you know.


TOPICS: Health/Medicine
KEYWORDS: obamacare
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To: A_Tradition_Continues

that would be “check”, not “chech”.


21 posted on 10/18/2013 12:49:30 PM PDT by A_Tradition_Continues (formerly known as Politicalwit ...05/28/98 Class of '98)
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To: randita
How much input does Congress have? Obama/Sebelius just unilaterally amend the law every other day.

It is one thing to say you are not going to enforce and existing law, its another to pencil in a new law. I don't see Obama disallowing the self employed health insurance deduction unilaterally.

22 posted on 10/18/2013 12:54:11 PM PDT by Raycpa
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To: fwdude

“...the Unaffordable Careless Act drives up the allowable percentage of health related expense from 7.5% of AGI to 10%. This is going to kill a lot of people financially...”

And....they don’t know it yet!

Next tax season should be a lot of fun and so should next november.


23 posted on 10/18/2013 1:04:26 PM PDT by jocon307
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To: jocon307

Yes, I’m sure even many pro-ACA numbskulls are in for a rude awakening when they find out that their medical deduction has been cut significantly.


24 posted on 10/18/2013 1:06:35 PM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: Raycpa
I don't see Obama disallowing the self employed health insurance deduction unilaterally.

Maybe, but - with a whisper from the right supervisor - if you take the deduction you may be audited. Q.E.D.

25 posted on 10/18/2013 1:10:16 PM PDT by kitchen (Make plans and prepare. You'll never have trouble if you're ready for it. - TR)
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To: Gen.Blather

Oh. My. Goodness.

Tax forms are still being discussed and may not even be printed until Feb ‘14? I didn’t even think about this thing totally screwing up people filing their income tax. I mean, I knew it would be confusing and messy, but I didn’t think that Obamacare might actually break the tax system. That may sound like a good thing, but imagine the chaos.

By the end of the first quarter next year, no one in this country is going to be happy with our idiot president.


26 posted on 10/18/2013 1:14:04 PM PDT by Shadowfax
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To: kitchen

Audits only happen if you forget to contribute the the democratic national party.


27 posted on 10/18/2013 1:17:37 PM PDT by Raycpa
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To: MrChips

The “ACA” has overriden much of the previously unfair tax code, and made it more friendly to indolent slobs, and more hostile to productive wage-earners.
My guess is that they snuck in a provision that self-employment health premiums are no longer deductible.


28 posted on 10/18/2013 1:44:35 PM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: Raycpa; All
RayCPA...

I spoke to my CPA gnomes better half. The CPA attended a briefing on Obamacare, more bad news. I hear from another gnome the R & B Hlock types are bracing for telling clients the bad news...

It sounds like this tax season is gonna suck on ice for those giving the bad news, and for those receiving it.

Be good to your CPA, buy them Aspirin or Jack Daniels?

By 04/15 a lot of people low-info types are gonna be disillusioned if not out right angry @ Dear Leader who they voted for, lied to them...

29 posted on 10/18/2013 1:50:50 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: fwdude

Per IRC Section 213(f), the unallowable portion of medical expenses remains at 7.5% for folks 65 and over for 2013-2016.


30 posted on 10/18/2013 1:59:51 PM PDT by ConstantSkeptic (Be careful about preconceptions)
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To: taildragger

The problems actually begin today when people are signing up.


31 posted on 10/18/2013 2:21:58 PM PDT by Raycpa
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To: A_Tradition_Continues

Don’t see it.


32 posted on 10/18/2013 9:27:26 PM PDT by MrChips (MrChips)
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To: Raycpa

I don’t qualify for a subsidy, which is why I am asking. Thanks. You have helped.


33 posted on 10/18/2013 9:29:22 PM PDT by MrChips (MrChips)
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To: Gen.Blather

Thank you. You were helpful.


34 posted on 10/18/2013 9:31:50 PM PDT by MrChips (MrChips)
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