Skip to comments.Is All Taxation Equal Under the Law
Posted on 03/28/2014 2:20:27 PM PDT by MosesKnows
Does the US Tax Code treats healthcare insurance premiums differently between employer paid premiums and individual paid premiums?
Manufactures began offering free healthcare insurance as a way to attract employees and avoid violating World War Two Wage and Price Controls. Free always guarantees a demand. Later, perhaps 1948, the courts declared that employer paid healthcare insurance premiums were not taxable income.
The answer is, yes, but only if you are listing your deductions, and you can only deduct the amount by which your medical expenses (including premiums) exceed 10% of your adjusted gross income.
In practice, that means that for most people, most of the time, the answer is effectively, "no."
What is ‘after tax income?’ The government is getting darn near all of it now what with state, federal, local, sales, property, gasoline, highway,licensing fees etc. etc.
What is left after the governments get darn near all of it is "after tax income".
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