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gdw Inner circle 4884 Posts |
I still cant take anyone seriously who seriously thinks anything about the AHCA will ACTUALLY result in anything "affordable."
Or rather, MORE affordable, in the long run.
"You may say I'm a dreamer, but I'm not the only one."
I won't forget you Robert. |
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Slide Special user 533 Posts |
"I still cant take anyone seriously who seriously thinks anything about the AHCA will ACTUALLY result in anything "affordable." "
It is compared to the alternatives, at least for me. I currently pay $7,188 a year for health insurance on cobra. Cobra runs out December 1st and my only alternative at that point was to pay $18,000 a year after December 1st. With AHCA my payments should be $5,100 a year. I don't know about you, but that I think that is a pretty substantial savings. BTW, these costs are for a single individual. |
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LobowolfXXX Inner circle La Famiglia 1196 Posts |
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On 2013-09-05 14:05, Slide wrote: That's a fantastic savings. Please keep us posted as to what the actual cost comes out to. If it's anything close to that, you're a great success story for the Act.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley. "...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us." |
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Slide Special user 533 Posts |
I'll let you know in about 3 weeks.
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General_Magician Special user United States 707 Posts |
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It is compared to the alternatives, at least for me. Most people don't pay the real costs of insurance if they work for a company that shoulders some or most of the cost for them. I plan on getting a health insurance policy for my wife and I once I am able to do so. I am glad Obama managed to get this legislation passed. The republicans sure are trying hard as hell to repeal it. Don't know why. It remains a mystery to me that they would want to repeal this legislation and keep people from having the health insurance they need in order to gain access to healthcare. I mean health insurance is a necessity and if you have some kind of pre-existing condition you're doomed because nobody will want to insure you. Not all pre-existing conditions are "fixable" either. I got the VA for healthcare, but I would personally rather have private insurance and I want my wife to have insurance as well. She currently works a job that doesn't provide health insurance and never has. Heck, I have been to some doctor's offices where doctor employees don't even have ANY health insurance. Now that's BAD! It's also better for the taxpayers too for somebody like me to be able to get private health insurance rather than relying on the taxpayers to help me out at the VA. Obamacare seems like a good idea to me and it's a win/win for my wife, myself and the taxpayers as well as the health insurance company.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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Slide Special user 533 Posts |
"Most people don't pay the real costs of insurance if they work for a company that shoulders some or most of the cost for them. "
As an entrepreneur, I've always paid for my own health insurance (and the health insurance for my employees). At the last two companies I started, we used an outsourced HR service that handled health insurance, payroll, and HR matters. Great service in that you get the benefit of all their other clients so the health insurance premiums were pretty decent. When I left there 3 years ago to launch my latest venture, I couldn't use them since I'm a sole proprieter now (you need at least 3 emaployees for them to take you on). For all the lip service people give to the "job creating entrepreneurs and small businesses", they really don't make it easy. |
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General_Magician Special user United States 707 Posts |
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As an entrepreneur, I've always paid for my own health insurance (and the health insurance for my employees). At the last two companies I started, we used an outsourced HR service that handled health insurance, payroll, and HR matters. Great service in that you get the benefit of all their other clients so the health insurance premiums were pretty decent. When I left there 3 years ago to launch my latest venture, I couldn't use them since I'm a sole proprieter now (you need at least 3 emaployees for them to take you on). I know you have paid the full cost of health insurance given that you are an entrepreneur. I agree they don't make it easy on small businesses, because, well, you know, big business has all the politicians in their pocket. We know how that goes! How can you tell when a politician is lying? When their lips move! You know, I think I might need to start hiring some help, but I don't want to take on a w-2 employee. That would cost me too much. However, I am getting bogged down having to work on my act, come up with comedy for my act and it's time consuming and a lot of work. Then I have to do all this marketing on top of it and all these leads coming in that I need to respond to. Getting pretty overwhelming. I am beginning to come around to paying somebody to help out a little so long as I can do it legally and cost effectively. Then their is the problem of finding good help. Good help is hard to find.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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Slide Special user 533 Posts |
" I am beginning to come around to paying somebody to help out a little so long as I can do it legally and cost effectively."
When I started my last company in 2003, I used to hire stay at home housewives. I could get them at about $7 an hour and they worked freelance. It was extra income for them and the hours were flexible. They just had to get the work done. When they did it was their business. Depending on the level of experience you need, that might be an alternative for you. |
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General_Magician Special user United States 707 Posts |
Thanks Slide. Is there a way to hire them as independent contractors in the eyes of the IRS? Would it be expensive to hire them as W-2 employees if I had to?
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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Slide Special user 533 Posts |
No, they become freelance contracters. You issue them a 1099 if you pay them more than $600 a year. Otherwise you don't need to issue the 1099. You accountant can help you with this, but there is no tax burden for you.
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General_Magician Special user United States 707 Posts |
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No, they become freelance contracters. You issue them a 1099 if you pay them more than $600 a year. Otherwise you don't need to issue the 1099. You accountant can help you with this, but there is no tax burden for you. Thanks! I'll keep this in mind. My attorney mentioned something about doing the paperwork to get this hired help declared as independent contractors to be safe. Not sure if that is really necessary though. Should I put an ad in the paper? Or did you just know these people and hired them? I feel safer with people I know and am a little leery about hiring people I don't know.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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Slide Special user 533 Posts |
I just put the word out through my network. Once I had one, they usually had friends. But beware: you will probably have to fire some people. That was the hardest lesson I to learn. My first company, I hired a friend to do sales. I tossed sleeplessly for weeks trying to avoid firing him? I got pretty good at it later.
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General_Magician Special user United States 707 Posts |
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But beware: you will probably have to fire some people. That was the hardest lesson I to learn. That's the reason why I wanted to have everything legally good to go. People don't like to be fired, so you don't want them to have the ability to come back on you legally somehow. I might spend the money having my attorney look into getting the IRS declared as independent contractors just to be safe. It sure does cost a lot of money to run a business doesn't it? And it's not easy to turn a profit.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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gdw Inner circle 4884 Posts |
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On 2013-09-05 14:09, LobowolfXXX wrote: And let's wait to see what it's like, as I mentioned, in the long run. Also, I don't doubt that there will be those individuals who do end up saving money, at the very least in the short run, but the over all costs, and the long run individual costs, that's another story.
"You may say I'm a dreamer, but I'm not the only one."
I won't forget you Robert. |
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Slide Special user 533 Posts |
Might spend the money having my attorney look into getting the IRS declared as independent contractors just to be safe."
Waste of money imho. A good accountant should do the trick |
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General_Magician Special user United States 707 Posts |
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Waste of money imho. A good accountant should do the trick. If you pay these folks an hourly wage, the IRS very well could come back and try and say they are W-2 employees and then stick it to me in taxes and penalties. You might be right though. It could be a waste of money, but sometimes, it is better safe than sorry.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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Al Angello Eternal Order Collegeville, Pa. USA 11045 Posts |
Lobo
You are not a follower of Ted Cruz, but a follower of Rand Paul instead. I guess being a little less wacky is a tiny bit better. LOL
Al Angello The Comic Juggler/Magician
http://www.juggleral.com http://home.comcast.net/~juggleral/ "Footprints on your ceiling are almost gone" |
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LobowolfXXX Inner circle La Famiglia 1196 Posts |
Don't worry; I'm not a follower of Rand Paul, either.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley. "...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us." |
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LobowolfXXX Inner circle La Famiglia 1196 Posts |
Don't worry; I'm not a follower of Rand Paul, either.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley. "...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us." |
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LobowolfXXX Inner circle La Famiglia 1196 Posts |
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On 2013-09-05 15:09, Slide wrote: A word to the wise about independent contractors: Calling someone an independent contractor doesn't necessarily make that person an independent contractor. If you and someone you hire sign a contract and you both agree that s/he is an independent contractor, THAT doesn't necessarily make him or her an independent contractor, either. In California (in all of the 9th Circuit), there is a variety of factors that courts examine to make the employee/independent contractor determination (different jurisdictions vary). It's a case-by-case fact-intensive inquiry. There have been cases where everyone signs a contract and agrees that the person is an independent contractor, and the court has said, "Actually, he's an employee," and the employer has been liable for a whole slew of back taxes and related headaches. In my own humble opinion, it's most definitely NOT a waste of money to consult an attorney. And a good and prudent accountant won't offer legal advice, which he or she would be doing if he or she offered an opinion as to whether an IC relationship as opposed to an E-E relationship existed. It's certainly the case in California that that question is NOT answered by an agreement, or by a particular structure. It's a complex question that considers the type of work being done, the degree of control the "hirer" exerts over way the "hiree" completes his or her duties, and numerous other factors. I strongly doubt it's a simple question in any jurisdiction. Legal consequences may be unlikely, but if they occur, they're serious. How to treat employees vs. independent contractors is an accounting question; whether someone is an employee or a independent contractor is a legal question. If you have half a brain and you're ego isn't totally out of control...take your legal questions to legal professionals. But what do I know...I'm just a lawyer from American Samoa. The above is not intended as, and should not be construed as, legal advice. None of y'all is my client.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley. "...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us." |
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