Posted on 10/18/2013 11:44:00 AM PDT by MrChips
that would be “check”, not “chech”.
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.
“...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.
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.
Maybe, but - with a whisper from the right supervisor - if you take the deduction you may be audited. Q.E.D.
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.
Audits only happen if you forget to contribute the the democratic national party.
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.
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...
Per IRC Section 213(f), the unallowable portion of medical expenses remains at 7.5% for folks 65 and over for 2013-2016.
The problems actually begin today when people are signing up.
Don’t see it.
I don’t qualify for a subsidy, which is why I am asking. Thanks. You have helped.
Thank you. You were helpful.
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