When presidential hopeful Newt Gingrich first objected to House Budget Committee Chair Paul Ryan’s (R-WI) Medicare proposal, there was a collective gasp in the political sphere. Until a few weeks ago, many Republicans thought the budget, which included a controversial provision to overhaul Medicare, was untouchable. The proposal, which appeared to be endorsed by most of…
It was one of those jaw dropping, rubbing your eyes, cleaning out your ears moments. Presidential hopeful Newt Gingrich, thought by many to be a frontrunner for the GOP nomination, went out on a limb and criticized his own party’s plans for Medicare reform. Speaking on Meet the Press, Gingrich said about the Republican plan:…
See folks, this is why you should always read the comments in the blog. We’ve been having a discussion about whether Medicare Part B is deductible as a self employed health insurance premium in the comments at this post: The A, B, C and Ds of Medicare. The old Pub 535 said no. And the…
Taxpayer asks: Please tell me this isn’t so…..Under the new health care bill, all real estate transactions will be subject to a 3.8 % sales tax. This new tax is supposed to kick in 2013. taxgirl says: I’ve gotten a few questions about this so-called “real estate tax” lately. Concern about the “tax” has escalated…
Here’s your big disclaimer upfront: I’m not a Medicare guru. I don’t work for Medicare. I don’t receive Medicare. But I do know enough to see that there’s some pretty awful information floating around which has lead to some confusion on the tax side. Let me see if I can help sort some of it…
I rolled into work this morning along with many Americans for the first time in 2011. Since New Year’s Day fell on Saturday this year, those of us who work “traditional” hours (yes, my use of the term is cheeky) started our work year today. It’s also the start of a bit of a headache…
I’ll confess that I got up today with a bit of fear and trepidation. You see, I had been assured by both sides of the health care reform debate that no matter the final tally, the world would end after the health care vote. Remarkably, Earth is still spinning this morning. The health care reform…
The good news: nearly 50% of American households (47%, to be precise) won’t pay any federal income tax in 2009. The bad news: the remaining 50% (or so) will have to foot the bill for everyone. You can thank (or blame) the new economic recovery package for bumping the percentage of taxpayers who won’t be…
It’s Fix the Tax Code Friday! Over the last few days, there has been a lot of focus on Obama’s nominee for Secretary of the Treasury, Timothy Geithner, and his tax woes. Geithner’s tax problems still from the failure to pay self-employment taxes during his stint at the IMF. Critics on both sides have seized…