Health Insurance for Expediters; What do You See?
- Thread starter ATeam
- Start date
Probably had a huge increase on your deductible as well. Also, some are finding out when they do a conversion, their new policy is no longer a multi-state policy. They are more of a HMO network.
Bad news for truckers as if they need services outside of their network, they basically have no coverage.
Again, few are reading the fine print.
I STILL want to be your business manager. What a shot at MASSIVE profits here! We could film the entire process from the conception to termination! Don't miss the boat! This is a once in a lifetime opportunity!
If that's the case my book keeper will be paying any penalties
letzrockexpress
Veteran Expediter
Your book keeper will be paying my penalties? cool!
zorry
Veteran Expediter
Moose, you truck. It isn't like you don't get screwed every now and then.
paullud
Veteran Expediter
My brother and his family recently found out that their insurance plan is no longer going to be available because it doesn't meet Obamacare standards. Keep your current plan? That was a lie. Affordable? Not as of January.
Sent from my SCH-I535 using EO Forums mobile app
I don't think Katz recommended to keep showing a AGI of zero or less. The IRS will change your classification to "hobby", then let's see what's deductible, and after they audit the past 3 yrs returns, your AGI will equal G with no deductions, tax plus penalties plus interest will be due upon completion of audit. Good luck.
I am no tax expert and above is I'm sure an extreme example of what can happen, but the IRS will begin to question why you are working for nothing, year after year after year. Now, I do not know from experience and am quite happy showing a nice AGI at years end, using all the legal deductions possible of course. I have never understood the philosophy of not wanting to make more because taxes will be too high, you get to keep most of it, at least for now. Scary what may be coming down the pike, but those who are better prepared, well, will be better prepared.
you are correct...the IRS has expectations that you will be profitable ....to which I increase the bottom line to show an improvement in business....
I pay SS tax every year....
I have never had a "0" AGI in the 8 years in this business. Life in the "majors" is tough!
I have never had a "0" AGI in the 8 years in this business. Life in the "majors" is tough!
I've never really had 0 either.....what I've said or meant, is I keep it down to where 0 income tax is owed.....I pay SS tax every year tho.....
Medicare as well, not JUST SS. There is a BIG difference between "0" AGI and "0" income tax owed. HUGE difference.
ya got me there...I don't really know this system, of the differences....
It is MORE than possible to "0" out on taxes yet have an "AGI". AS to how it all works? I ain't got a clue. That is EXACTLY why I have a CPA working for me. Numbers suck, I don't like them, I don't understand them. They are "Arabic" after all!
I knew the Can system it is real easy....they have it down to about 3 pages..and that includes your name and address.....but this US tax code....forget it....LOLIt is MORE than possible to "0" out on taxes yet have an "AGI". AS to how it all works? I ain't got a clue. That is EXACTLY why I have a CPA working for me. Numbers suck, I don't like them, I don't understand them. They are "Arabic" after all!