*AskTaxMama Newsletter, Health Insurance, Healthcare

Ask TaxMama Issue 512 – To Your Health

Posted on by TaxMama

Happy new film - Harry Potter and the Half-Blood Prince

Dear Family,

Earlier this week Brent Clanton (www.cnn650.com )and I were discussing the proposed batch of tax legislation facing Congress this month. One of the ways the Legislature and President Obama propose to pay for the health insurance and other tax breaks is to tax the ‘rich’ – those earning over $250,000. Sounds like a great idea, doesn’t it? Let’s stick the top 3% of the entire U.S. taxpaying population with the bills to support all the rest of us. And let’s see just how fast those folks leave the United States for more reasonable countries (if there is such a thing)!

I know this will be a very unpopular sentiment, but…you know me. I just can’t resist. (Skip the following parapgraphs – you have been warned!)

Why are we expecting a few people to pay for the health insurance costs of millions of Americans who don’t presently have health insurance? That’s totally unreasonable.
—> The fact is, many of the folks who are presently uninsured would buy their own insurance if only the premiums did not cost more than their entire annual income. We do need subsidised or reduced-cost insurance, without a doubt.
—> Another fact, Americans are already subsidising medical care for the uninsured. They use the emergency room systems and trauma care centers. This cost us at least 5 times (or more) what routine doctor visits or clinics cost. If we simply cut out the abuse of the emergency system, the costs we’re already paying to support those visits can easily be transferred to cover the subsidised premiums without affecting the current budget shortfall. Heck, it might improve the budget!
—> Fact – yes, it is possible to have a government insurance agency that will not conflict with private health insurance businesses. Heck, such an agency could even remove some of the burden and costs from the private system. We already have models in place. I know of the Fair Plan in California that provides coverage for fire insurance. They insure building owners who cannot get coverage anywhere else. The system works just fine. Brent says that Texas has a similar agency that provides a variety of coverages. I’ll bet your state has something in place, too. So, please, don’t feel overwhelmingly concerned about the federal government getting into the insurance business.
—> Medical care providers, hospitals, etc. overbill extensively. I recently received the bill for my stay at the hospital to have my gall bladder removed. The hospital and related medical charges added up to $110,665.70 . Anthem Blue Cross paid $24,314.00. The hospital accepts this as full payment. What does that tell you? Does this mean that the hospital is losing money on medical care on insured patients? Or is the real cost less than 22% of the amount they invoice? And what happens to patients without insurance, but who have jobs and some assets? They end up having to cash in everything and overpaying their medical expenses because they don’t have the sophistication to hire a medical billing expert to review the bill and fight for them.

Naturally, whatever health insurance legislation they do finally generate…I don’t want to lose the terrific coverage we have right now through my husband’s employer. And if you’ve got a job coverage, or spouse with a job that provides coverage, you don’t want to lose those benefits either. So if you have constructive ideas on how to make healthcare legislation work – please tell you legislators! Give them some good ideas (don’t just harrass them and yell at them).
https://taxmama.wpengine.com/Articles/calltoaction.html

[OK, you can start reading again.]

Yesterday we went downtown in Los Angeles to a meeting at IRS’s new offices. The various managers working out of the new facility dropped in to introduce themselves. Wow! What an impressive group of people. We learned a great deal about the mysterious inner workings at IRS, the new hires, audit and investigation projects and more. Read this weekend’s Tax Watch column for the details. It will include some tips and tricks related to shared COBRA payments.
https://www.marketwatch.com/Journalists/Eva_Rosenberg

In IRS News this week, David and Mary Mellem, EAs tell us about a shocking turn of events. You really want to be very careful when you take advantage of a loophole in the early withdrawal penalties related to retirement plans. What looked like an innocent move cannot be undone once implemented. As they say – OUCH!
Also, IRS gives us tips on summertime child care expenses.
https://taxquips.com/index.php?cat=IRSNews

In today’s Money Funny – you will learn how to walk on water
https://taxquips.com/index.php?cat=MoneyFunnies

In TaxQuips this week, we learn whether or not to file a return if you don’t owe money; does putting a mobile home on land you already own qualify you for the first time homebuyers credit? How can you make quarterly estimated tax payments to California – or your state; Can you make up information to match your bank statement if your cancelled checks are missing?
https://taxquips.com/index.php?cat=TaxQuips

As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!

Please use the Comments link online.
https://taxquips.com/index.php?id=1281

TaxNerd gear makes a bold statement during tax season.
Shop at www.taxnerd.net or https://www.zazzle.com/taxmama*

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.

www.TaxMama.com
www.TaxQuips.com
www.IRSExams.com
www.taxnerd.net
————————————————————-

TAX CALENDAR 2009
————————————————————-

07.31.2009 2nd Quarterly Payroll Returns and Pay Taxes Due

07.31.2009 2nd Quarterly Sales Tax Returns and Pay Taxes Due

08.17.2009 Employers Make monthly Payroll tax deposit

09.15.2009 Employers Make monthly Payroll tax deposit

09.15.2009 Corporate & Partnership Returns Due- FINAL DEADLINE

09.15.2009 3rd 2009 Estimated Payment – all entities Due
————————————————————-

SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
————————————————————-

Keep your Resolutions:
Here’s a well-thought-out e-book to help you start the
year off properly. It contains a place for you to
list your promises to yourself – and lots of tools to
help you achieve your goals.

Download the book here (just use your e-mail address in this e-mail, so you can avoid subscribing to
my newsletters twice.)

Feel free to share this link with your friends, your clients and your mailing list.
https://www.simpleology.com/p/blogging/taxmama/ATM440
Explore Simpleology 101 – It includes set of step-by-step daily missions for you to follow to get more focused and become more successful this year.
You can check them off as you go.

Audio and Video Training
Is 2009 the year you learn to put use audio and video
on your websites or online? Here are some excellent
no-cost training opportunities. All you need is time.
Join David at AudioAcrobat.com

Join SuccessNet.org for free and learn the 10 Essential Success Keys You Need to Know for You
And Your Business to Grow
————————————————————-

GIFT IDEAS
————————————————————-

ThinkGeek has some wonderful, unusual stuff, including something very like a Dick Tracy watch – a touchscreen cell phone PDA watch. They also have the USB Memory watch that holds 2GB of data.

Open your own Zazzle account and create personalized
gifts to your family and friends.
You don’t need to use my designs – use your own photos and artwork.
https://www.zazzle.com/taxmama*
————————————————————-

SPECIAL DEALS
————————————————————-

Need a Corp, LLC, Registered Agent

Incorp Services Inc. in Nevada – DISCOUNT
20% off on formation services.
Similar discounts on Registered Agent services.
Call 800.2.INCORP – use coupon code – TAXMAMA – or
https://go.asktaxmama.com/incorp
(no code needed)

Customised Personal or Businesswear – 3 Choices:

Zazzle – Cafe Press – Queensboro

It costs much less than you think to be creative, and to develop your own look and identity.

Use your art or others – and customize it

Zazzle your Imagination. Are you a TaxNerd?
Tell everyone – proudly!
https://www.zazzle.com/taxmama*

Create your own customized Zazzle Apparel, bags or more.

Get volume discounts on orders of 2 or more.

Get extra discounts for yourself and friends after you order.

Stuff for business, travel and fun

Cafe Press is the home of TaxMama’s shops
https://www.cafepress.com/taxmama

But you can upload your own art and graphics and unify your family – even your pets.
https://www.cafepress.com/

Get extra discounts for yourself and friends after you order.

WOW DEAL! Embroidery

Wouldn’t you love to get your logo or family crest, or picture or whatever, EMBROIDERED on hats and T-Shirts?

Well, it costs a heck of a lot less than you think.
And there’s always a sale!
At the Queensboro Shirt Company

(They have a lot more than shirts – and all sizes)
They do a gorgeous job.

TaxMama

Your personal TaxMama is alive and well, answering your questions, and dreaming up ways to help you enjoy dealing with taxes – and paying less.