If you work for a company with a Flexible Spending Account health benefits plan (i.e. "cafeteria plan") there will now be a massive increase in taxes on your plan.
For example, if you currently get $10,000 a year from your company for family coverage, it's 100% tax-free.
Under the House and Senate health care bills, only the first $2,500 is tax-free. Rest is taxable.
So, if you are in the 15% tax bracket, that means 15% tax on $7,500. Or about $1,125 a year in additional taxes.
See section 325, page 532.
dreadpiraterobert
· 1 month ago
If you have kids, or are just a little childish, Kimya Dawson's kids' CD, "Alphabutt", is hilarious and my son loves singing along.
"A is for apple, B is for butt..."
ShirleyGoodnessanMercy
· 1 month ago
Love the Moldy Peaches. Too bad their song is associated with that crappy "Juno" film. I had t turn it off when the kids started using the word "gay" as a perjorative. I refuse to endure insults when I am trying to relax & enjoy a film.
All Comments
If you work for a company with a Flexible Spending Account health benefits plan (i.e. "cafeteria plan") there will now be a massive increase in taxes on your plan.
For example, if you currently get $10,000 a year from your company for family coverage, it's 100% tax-free.
Under the House and Senate health care bills, only the first $2,500 is tax-free. Rest is taxable.
So, if you are in the 15% tax bracket, that means 15% tax on $7,500. Or about $1,125 a year in additional taxes.
See section 325, page 532.
"A is for apple, B is for butt..."