Medical Insurance » United States

how much is the fine the income taxes are for the people that doesnt have medical insurance?

admin — Sun, 04 Dec 2011 06:15:18 +0000

Lemara asked:

I would like to know how much it will be the fine the income taxes are gonna charge to people for not having medical insurance? its $200 fine? or $200 every month you dont have insurance?

Can paying medical insurance get you in a lower tax bracket if you’re on the border?

admin — Thu, 24 Nov 2011 04:55:01 +0000

Kenny A asked:

For example, If the the tax on 34000 a year is 18% and anything over that bracket would cost 28%. If I was to make 35000 a year but pay 2400 a year in medical insurance, would I fall into the 18% tax bracket? Meaning I would be really making 33600.

Thanks.

Will I get more or less of a refund if I pay medical insurance pre-tax?

admin — Wed, 27 Jul 2011 16:42:23 +0000

smmbcw asked:

I get my income tax refunded to me at the end of the year. Will it make my tax refund larger or smaller if I have pay for my medical insurance pre-tax?

Can we deduct the medical insurance monthly premiums in our medical expenses during taxes ?

admin — Fri, 18 Mar 2011 13:38:39 +0000

Johnpau2011 asked:

When filing for the year end taxes, there is a medical expenses field.

Can I add the monthly medical insurance premium what I pay to this field ?

Ex;- My income 50K
medical insurance premium paid YTD – 5K
medical bills paid YTD – 1K

Does an owner of an LLC have to claim their medical insurance as income on their personal tax return?

admin — Sat, 27 Nov 2010 06:01:06 +0000

Lynda G asked:

I know that if an owner of an S-Corp has the company pay their medical insurance, they owner needs to claim this as income on their tax return. Does this apply to an owner of an LLC ?

Do you deduct medical insurance withheld from a paycheck on Schedule A?

admin — Wed, 03 Nov 2010 22:10:36 +0000

Midwest Gregg asked:

My wife had $14.00 withheld from her check each week from medical insurance. Is this deductible on Schedule A? Also, she got 27 cents in interest from the bank and wanted to know if such a low amount had to be reported on Schedule B?

Is there a way not to be tax on medical insurance payouts by employer to the employee?

admin — Thu, 07 Oct 2010 18:14:38 +0000

victoria m asked:

My employer is willing to payout my medical insurance to me. Its an option that is given to the employee either be covered by the employer or elect to take the money by the employee.

If I don’t claim my son as a dependent on my taxes, can he still be covered under my medical insurance?

admin — Mon, 27 Sep 2010 15:08:50 +0000

bb asked:

My son is 21 years old, a full time college student and is covered under our medical insurance policy. When he files his taxes he wants to be able to take his own deductions on his return. I hope this makes sense.

spouse is self employed, How can I claim my employer sponsored medical insurance cost ?

admin — Thu, 26 Aug 2010 19:53:34 +0000

mom23 asked:

My husband is self employed , I am employed and pay medical insurance on both of us through my employment, at a very high cost, can I claim the cost of his insurance ?
Most all are very informative answers.

I don’t give nasty comments,

Can I deduct medical insurance premium in tax return?

admin — Thu, 06 May 2010 07:51:08 +0000

Anwar H asked:

I am W2 employee and want to avail COBRA option from my previous employer. If I pay my insurance with after tax dollers, can I show tham as medical expense and deduct them while filing a tax.
I cannnot file my tax as itemize.