Self Employed/Small Business

  1. You have chosen to ignore posts from Mike473. Show Mike473's posts

    Self Employed/Small Business

    I am generally for health care reform. As a self employed person, my premiums are very high, for a plan with a high deductable. However, I am having second thoughts about my support for Obama's plan, based on the following report from the National Association of the Self Employed. If you are self employed, take a look at this bill carefully. I hope they change this in the final bill.

    "The self-employed will be specifically excluded from accessing the small employer tax credit in the Baucus plan:

    "Self employed individuals, including partners and sole proprietors, two percent share-holders of an S Corporation, and five percent owners of a C Corporation would not be treated as employees for purposes of this credit. There will also be a special rule for sole proprietorships to prevent them from receiving the credit for the owner and their family members. Thus, no credit would be available for contribution to the purchase of health insurance for these individuals and the individual would not be taken into account in determining the number of employees or the average full time equivalent wages."

    So for all you sole-proprietors out there with employees, you may be able to get assistance in paying for your workers' health insurance, but for your own health care you're out in the cold.  Additionally, you won't even be able to qualify for the individual/family tax credit if your income is more than $32,490 for an individual or $66,150 for a family of four. 

    If you are self-employed or a micro-business that employs family members, then you are even worse off because you will receive absolutely no financial assistance to afford group health coverage.  Considering that family businesses account for 50% of U.S. gross domestic product, generate 60% of the country's employment and provide 78% of all new job creation, Senator Baucus might want to reconsider his choice to exclude them from receiving assistance to afford group health coverage. (Statistics courtesy of University of Southern Maine's Institute for Family-Owned Business.)

    Again absent from the Baucus legislation, as with all of the other reform proposals, is the ability for the self-employed to receive a business tax deduction for health insurance like all other businesses and the expansion of Health Reimbursement Arrangements (HRAs) to allow the sole-proprietor owner to participate. "
     
  2. You have chosen to ignore posts from gabootwo2006. Show gabootwo2006's posts

    Re: Self Employed/Small Business

    In Response to Self Employed/Small Business:
    [QUOTE]I am generally for health care reform. As a self employed person, my premiums are very high, for a plan with a high deductable. However, I am having second thoughts about my support for Obama's plan, based on the following report from the National Association of the Self Employed. If you are self employed, take a look at this bill carefully. I hope they change this in the final bill. "The self-employed will be specifically excluded from accessing the small employer tax credit in the Baucus plan: "Self employed individuals, including parJtners and sole proprietors, two percent share-holders of an S Corporation, and five percent owners of a C Corporation would not be treated as employees for purposes of this credit. There will also be a special rule for sole proprietorships to prevent them from receiving the credit for the owner and their family members. Thus, no credit would be available for contribution to the purchase of health insurance for these individuals and the individual would not be taken into account in determining the number of employees or the average full time equivalent wages." So for all you sole-proprietors out there with employees, you may be able to get assistance in paying for your workers' health insurance, but for your own health care you're out in the cold.  Additionally, you won't even be able to qualify for the individual/family tax credit if your income is more than $32,490 for an individual or $66,150 for a family of four.  If you are self-employed or a micro-business that employs family members, then you are even worse off because you will receive absolutely no financial assistance to afford group health coverage.  Considering that family businesses account for 50% of U.S. gross domestic product, generate 60% of the country's employment and provide 78% of all new job creation, Senator Baucus might want to reconsider his choice to exclude them from receiving assistance to afford group health coverage. (Statistics courtesy of University of Southern Maine's Institute for Family-Owned Business.) Again absent from the Baucus legislation, as with all of the other reform proposals, is the ability for the self-employed to receive a business tax deduction for health insurance like all other businesses and the expansion of Health Reimbursement Arrangements (HRAs) to allow the sole-proprietor owner to participate. "
    Posted by Mike473[/Q


    Just another example of Liberal Democratic Leadership caring for the common man.
     
  3. You have chosen to ignore posts from sanityman. Show sanityman's posts

    Re: Self Employed/Small Business

    I don't own a small business but I have worked for a couple of small businesses in the past. I don't think most folks in Washington (who are usually lawyers with no business background) understand what it takes to start, run, and maintain a business. And they certainly don't understand how complex the tax and regulatory laws are that serve as huge obstacles on both the start-up and the continuation of the business. It's mindboggling at times.

    I also don't think they understand that most small business owners have a clear mindset of how much money they need to make in order for the endevour to be worthwhile considering the amount of time and worry you put into it. Yet, this Congress and White House continue to look at small business as group that somehow is not giving their fair share. I just don't understand it.
     
  4. You have chosen to ignore posts from Mike473. Show Mike473's posts

    Re: Self Employed/Small Business

    I really don't understand it either. At first, I thought health care reform might finally deal with the crazy health insurance costs most self employed and small business face. When I read that these groups were being excluded, I really wondered what the folks in Washington are thinking about.
     
  5. You have chosen to ignore posts from macnh1. Show macnh1's posts

    Re: Self Employed/Small Business

    Mike,

    As a small business, you help employ 85% of America.  You make sure the economy runs, you pay your taxes, abide by the law, provide healthcare insurance and benefits to your employees while building wealth for yourself and for your employees.  You take from no one and give to everybody.

    Obama and the liberal dems see you as the problem, not the solution.  Only government can provide for people, he hates your independence and self-reliance.  He considers you his competition.  He will work to destroy you.

    I support you.  Hang on until the mid-term elections.
     
  6. You have chosen to ignore posts from Bill-806. Show Bill-806's posts

    Re: Self Employed/Small Business

    In Response to Re: Self Employed/Small Business:
    [QUOTE]Mike, As a small business, you help employ 85% of America.  You make sure the economy runs, you pay your taxes, abide by the law, provide healthcare insurance and benefits to your employees while building wealth for yourself and for your employees.  You take from no one and give to everybody. Obama and the liberal dems see you as the problem, not the solution.  Only government can provide for people, he hates your independence and self-reliance.  He considers you his competition.  He will work to destroy you. I support you.  Hang on until the mid-term elections.
    Posted by macnh1[/QUOTE]WELL SAID........ "IN 5 DAYS I (ALWAYS I ) WILL TRANSFORM AMERICA" !!!  MY GOOOODNESS HE/I/CHICAGO WAY GANG HAVE DONE THAT.........  WE WILL KNOW SOOOONER, RATHER THAN LATER THE FALL OUT FROM "THE GREAT VISION" OF  THE I-MAN !!!!
     

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