I have 5,000 deductible
Posted By: Taiga on 2008-02-02
In Reply to: IC's and SE's without spouses or significant others (benefits question), please read ... sm - sm
It's more or less catastrophic insurance, however, when I was formerly covered on my job there was a fairly high deductible also. Anyway, I am 53 years old and my premium is 120.00 a month. It's through Anthem Blue Cross Blue Shield. You can bring up lots of insurance information via the internet that does comparisons of different plans and costs based on your age.
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Only 50%, 1/2 of SS is deductible
You only deduct 50% of your SS as you are paying that much. Look at your 1040, deudction is 50% of what you paid on your net income on scheudle C.
Tax Deductible Expenses
We ran a business for years from our home. As far as I know, you can take the base rate of your telephone bill as an expense (which includes FCC taxes) and any long distance calls related directly to the business. As for Home Owners Insurance, you can take 7% of the insurance because you use 7% of your home for your business. Also, anything related to the business such as equipment, paper, tapes or special software programs can be taken as well. If you have to travel to deliver the finished reports, I believe the rate is 28 cents a mile. If you travel, you can also deduct any maintenance on your vehicle. Hope this helps. 
IMO no, trip is not tax deductible at all. (nm)
x
Only way trip is deductible is if it is
Like if you are going to an MT seminar or traveling to meet a new client, etc. Working while on vacation doesn't count since you aren't required to work from that location.
When it IS business related, you have to have receipts and legitimate paperwork proving it is work related and that you spent time conducting business. A trip expense like that would be a red flag to the IRS to audit you, so you darn well better have excellent documentation.
Taxes are deductible and it does help out at the end of the year.
Be sure to try to get fixed. I have 7.5 fixed for 30. They do have 40 yr mtgs now. And you can always refinance if your financial picture changes. When I moved into my home, i had no cable, a junky car and ate like a poor person. Once, to make my mtg, during a really rough time, i sold my bedroom suite. Keeping the roof over our heads is #1 priority. You sound like someone responsible enough to do this. Would you qualify for this loan on your own? Getting his name on this house might not be smart thing to do during these rocky times?
and don't forget the other 7.5% is deductible off of your income nm
nm
you have it backwards, if you don't go to the doc get a high deductible
having a high deductible will really cut down on your premiums. Say you rarely see the doctor and don't have prescriptions. An 80/20 plan with a $5000 deductible can run you as little as $59 a month, and that has a $500 out of pocket. I have Assurant Health (formerly Fortis), for myself and the kids. For $5000 family deductible we pay about $3000. So the most we will pay in a year is $8000. But at my husband's last job, we were supposed to pay all of the premium for family coverage and they would pay for his coverage. Premiums were going to be $9000. Add a $500 deductible to that and 20% which would probably run another $2000, and a catastrophic illness for one person would be $11,500. $11500 is a lot more than $8000, plus with the Assurant Health plan that is our FAMILY deductible. With the group plan, if one more person got sick, it started all over again with their own deductible. So you have to do the math. Individual coverage for all 4 of us will run us $5300/yr, that is, if they agree to insure my husband. If you have ANYTHING at all, individual insurance will not take you. So keep that in mind too. Insurance is the reason why somebody in the family should have a "real" job :)
depends on age, health, deductible, etc
Too many variables but figure on $350 to $500 depending on the above. All you have to do is do a search on medical insurance coverage in your area and find out.
only one office is deductible -- color coding
I use color coding and have done so from day 1. Have 7 docs and they all have their own color for tapes, letter head, returned dictation, binder etc. They are no longer names, they are blue/green/yellow/red/purple/clear and yellow/green. That is the only way I keep their things separate and for sure know who to deliver to what. Am of the old school and this works for me. Also have a monthly board that I keep track of their tapes and time off and that is also color coded.
Only one office is deductible otherwise you could call your entire home an office.
If you can get it, do an individual account with a high deductible...sm
but in order to get individual insurance, you have to have NO medical problems. They even put a rider on my son's ADD. Premiums for me and my two kids (husband has ins through work) run about $3800 a year, and we have a $5000 family deductible. Worse case scenario, some one gets sick and it costs us $8800. Premiums for family ins through DH's work were $9000 - sick or not. Good luck. I agree - the insurance lobbied that sucker through.
I work for a national, $600 yearly deductible and 15-30 copay
nm
home office expenses are still deductible if you are an employee - nm
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Rules state anything not reimbursed by employer deductible.
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Husband's plan has no deductible, just copay and pays just straight up to 12 visits a year.
I do have a high deductible for mine, I think $5000 but the important thing to me is that I only pay $35 office visit copay. The deductible only kicks in on lab, x-ray etc.. and I have prescription coverage. The other thing you have to consider, as I also work in a physician's office doing medical billing, is that there are substantial contractual adjustments if you are with a BC plan. Say, your bill is $100 and the "allowable" from the insurance company is $75, that means that your doctor's office has to adjust off the extra $25 and you are not responsible for that; whereas, if you had no insurance, you'd have to pay the whole $100 out of your own pocket, no discount there.
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