i got to see how much my employer pays for my health insurance, and i'd say they are getting a terrible deal...especially once you add in what i have to pay out of pocket. maybe i can negotiate they pay me instead of the insurance company, and i go out and buy my own...win win.
Announcement
Collapse
No announcement yet.
Taxes??
Collapse
X
-
Originally posted by topshot View Posti got to see how much my employer pays for my health insurance, and i'd say they are getting a terrible deal...especially once you add in what i have to pay out of pocket. maybe i can negotiate they pay me instead of the insurance company, and i go out and buy my own...win win.
Comment
-
Originally posted by rjet View PostYep, non taxable. Just reported, same as last year.
Form W-2 Reporting of Employer-Sponsored Health Coverage
The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. Reporting the cost of health care coverage on the Form W-2 does not mean that the coverage is taxable. The value of the employer’s excludable contribution to health coverage continues to be excludable from an employee's income, and it is not taxable. This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their health care coverage.
Comment
-
I got a major wake up call when i started my own company on the IRS.
I paid six figures and I'll owe six figures when everything is said and done . . . . . . . . and the income wasn't proportional but owning an llc spreadsheet numbers have to be included in my income.
good news my company had an awesome record year. Bad news I'll be paying personal income on money that isn't being taken out of the company.
Comment
-
Originally posted by txdukklr View PostI got a major wake up call when i started my own company on the IRS.
I paid six figures and I'll owe six figures when everything is said and done . . . . . . . . and the income wasn't proportional but owning an llc spreadsheet numbers have to be included in my income.
good news my company had an awesome record year. Bad news I'll be paying personal income on money that isn't being taken out of the company.
Comment
-
Originally posted by doubleplay43 View PostYou are not taxed on your health insurance premiums. Your employer is just required now to report how much it is to the government. It should still be paid pretax to the employee.
Comment
Comment