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post #1 of 250 (permalink) Old 06-09-2010, 10:47 PM Thread Starter
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OBAMACARE - YOUR TAXES NEXT YEAR

Taxing your employer-provided health care costs…
Ohhhh, this is going to send a lot of folks to the polls next November with blood in their eyes…

This is just a small part of the new Health Care Bill.

I contacted my Congressman about House bill HR3590 - the health care bill just passed. I asked for a summary of changes. The aid directed me to go to http://www.thomas.gov; enter HR3590 in the search box and look for summaries. Starting in 2011 (next year folks) your W 2 tax form sent by your employer will be increased to show the value of health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get.

You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year. For many it also puts you into a new
Higher bracket so it's even worse.

This is how the government is going to buy insurance for the 15% that don't have insurance and it's only part of the tax increases.

Not believing this? Research the summaries and here's what you'll be reading:
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE
OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901) Sec.9002. "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employee's gross income."

Joan Pryde is the senior tax editor for the Kiplinger letters. Go to Kiplingers and read about 13 tax changes that could affect you. Number 3 is what I just told you about.

God Help Us All!!!! The Tax Payers......

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post #2 of 250 (permalink) Old 06-10-2010, 12:11 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

Well I wasn't feeling half bad tonight until you reminded me about all the extra noncontributers I will have on my back. I'll bet half the population of the country doesn't work for a living anymore.
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post #3 of 250 (permalink) Old 06-10-2010, 12:31 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

Quote:
Originally Posted by halo View Post
Taxing your employer-provided health care costs…
Ohhhh, this is going to send a lot of folks to the polls next November with blood in their eyes…

This is just a small part of the new Health Care Bill.

I contacted my Congressman about House bill HR3590 - the health care bill just passed. I asked for a summary of changes. The aid directed me to go to http://www.thomas.gov; enter HR3590 in the search box and look for summaries. Starting in 2011 (next year folks) your W 2 tax form sent by your employer will be increased to show the value of health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get.

You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year. For many it also puts you into a new
Higher bracket so it's even worse.

This is how the government is going to buy insurance for the 15% that don't have insurance and it's only part of the tax increases.

Not believing this? Research the summaries and here's what you'll be reading:
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE
OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901) Sec.9002. "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employee's gross income."

Joan Pryde is the senior tax editor for the Kiplinger letters. Go to Kiplingers and read about 13 tax changes that could affect you. Number 3 is what I just told you about. The only problem of course, is that you left out something very important that disproves everything said prior.
God Help Us All!!!! The Tax Payers......
I'm not sure who sent you that e-mail but, you might want to let them know it is incorrect.

Here, read the article for yourself.

Joan Pryde - Kiplingers (click here)

Quote:
3. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011. The amount reported is not considered taxable income.
Quote:
10. A new 40% excise tax, beginning in 2018, on high-cost health plans, levied on the portion that exceeds $10,200 for individuals and $27,500 for families. The provision is aimed mostly at gold-plated plans offered by employers, although it can affect individual policies

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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post #4 of 250 (permalink) Old 06-10-2010, 12:49 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

...

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post #5 of 250 (permalink) Old 06-10-2010, 12:57 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

While #3 may not be considered taxable income YET it is coming. Why else would it need to be on the w-2?

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post #6 of 250 (permalink) Old 06-10-2010, 02:07 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

At one time it was rumored that the health plans for union employees was not going to be taxable. Anyone know if that is or is not the case?
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post #7 of 250 (permalink) Old 06-10-2010, 03:10 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

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Originally Posted by PsRumors View Post
While #3 may not be considered taxable income YET it is coming. Why else would it need to be on the w-2?
Don't be adding 2+2=4, that is common sense and you will be crucified for doing that.




BTW, I agree with you, because if that wasn't in the long term plan, the wording wouldn't of been put in there in the first place.


Oh, my bad, there is that common sense again.

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post #8 of 250 (permalink) Old 06-10-2010, 03:13 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

You guys are pretty good at ignoring what is staring you right in the face.

It will go in effect, for certain people..........in 2018.

Go back and read it again.............. THAT would show a little common sense.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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post #9 of 250 (permalink) Old 06-10-2010, 03:20 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

I love it... WE are going to REQUIRE you to have healthcare... BUT dont get too GOOD of health care or we will TAX it...

WTF??? lol

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post #10 of 250 (permalink) Old 06-10-2010, 03:55 AM
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Re: OBAMACARE - YOUR TAXES NEXT YEAR

Quote:
Originally Posted by AK Gandy View Post
You guys are pretty good at ignoring what is staring you right in the face.

It will go in effect, for certain people..........in 2018.

Go back and read it again.............. THAT would show a little common sense.
I didn't ignore a thing....You put into bold "The amount reported is not considered taxable income"

I was just pointing it out that it was coming.....my bet is by 2018 that threshold will be much MUCH lower and many more people will be taxed.

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