Category Archives: Healthcare

TaxMama s TaxQuips Health Care Mystery

Today TaxMama® hears from SwampWiz in the TaxQuips Forum, who is frustrated (can you blame him? Please read his detailed rant. Following is simply a summary.)  “I had read an official IRS notice that stated that if the individual’s income were to be “higher” than the one that had been proposed for the subsidy, the […]

Medicare Premiums and SE HI Deduction

In a Chief Counsel Memorandum (CCM) dated May 1, 2012, released July 13, 2012, IRS addressed the issue of Medicare premiums and the self-employment health insurance deduction.     For years IRS has stated in its publications that Medicare premiums do not qualify for the self-employed health insurance deduction. In early 2011 IRS stated in its […]

HSA and Medicare

(image courtesy of David Souza and www.taxbrackets.org ) Today TaxMama® hears from Anne in the TaxQuips Forum who is confused. “My husband is disabled and is on Medicare. He has a supplemental policy that we are currently paying out of my HSA. It was set up through my employer for only me. I went to the […]

Long Term Care Insurance

Today TaxMama® hears from Connie in the TaxQuips Forum with an excellent question. “I have a long term care insurance policy that I took out last year. This insurance is to cover you if you are put in a nursing home or other type of care facility; it is not long term disability insurance. I […]

What Employers Need to Know About Claiming the Small Business Health Care Tax Credit

If you are a small employer with fewer than 25 full-time equivalent employees that earn an average wage of less than $50,000 a year and you pay at least half of employee health insurance premiums…then there is a tax credit that may put money in your pocket. The Small Business Health Care Tax Credit is […]

Network Marketing

  Today TaxMama hears from Carrie in the Tax Quips Forum, with a common question. “I am reading through your new edition of Small Business Taxes Made Easy and want to clarify. Should I treat my new network marketing business as a sole proprietorship business?”  

Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit

As Tax Filing Extension Deadlines Near, IRS and HHS Announce New Round of Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit Video: Small Business Health Care Tax Credit-Updated English | Spanish | ASL WASHINGTON — As the upcoming filing extension tax deadlines approach, the Internal Revenue Service, in partnership with the […]