Health Savings Account-Health Savings Account Info

WinonaGal asked:


This is purely an exercise to examine for yourself how much our government is already taking from you.

Here is a little checklist, but please feel free to add something I might have forgotten.

Real estate taxes
state tax
social security tax (it is a tax but I welcome this one)
city tax (some have some don’t)
sales tax (depending on where you live, it’s as much as 8% on everything other than food, right?)
meal tax
earnings on your savings accounts, investments, etc.
gasoline tax
heating oil tax
inheritance tax
car registration (it’s a tax even if they call it something different)
entertainment tax (movies, campgrounds, hotel, etc.)

I’m up to, easily, about 50% of our annual income so far, how ’bout you?
I even purchased a small iced coffee yesterday at Dunkin Donuts and paid $2.23 for it, when I looked at my sales slip I paid 18 cents of that in tax. Just on one iced coffee, wow. How many coffees might you buy, or beverages? My, doesn’t this add up.

So, when are you going to say that it’s all too much?
And some people want even BIGGER government?
Now, I want you to examine what are you, personally, getting for what you are spending? Do you feel that the government is giving you something in return for what you are paying? Is it enough to say what you are paying is worth it?

Now, let’s examine some new things that are coming up. Health care and Cap and Trade. Can you imagine, if possible, how much more people will be spending than they already are? Do you firmly believe that both of these programs will not hit your personal pocket?

Your comments please.
I forgot tax on cell phone and land lines! They get you with a communications tax and also on your cable tv bills.
Correction, someone said SS tax was 1%, it’s more like 7.45 or something like that.
Also, when my dad died, mom didn’t have time change his IRA account beneficiaries afterward, the account was willed to her and she just didn’t get to it. She didn’t expect to die 4 months and 6 days later and they hit us with probate tarrifs of 19K on a 48K IRA accound. Can you imagine?
Are we sickened enough? Do you really want cap and trade and do you really want Obamacare? How much more blood can they **** from you?
I think of one trip on Air Force One costing 250K for the wasteful photo op trip to NYC and then the photos were never used. I think of $100 each steak dinners for Obama and his cronies on us at the Whitehouse. I think of members of congress buying not one, not two but three private jets so they can travel. I think of how people get private cares, meal allowances and vote their own raises. I’m not just picking on Obama, each president has had their perks. He’s just in office right now.
How come this man gets cooks, housekeepers, limos, planes, chauffers, and governors get that too (unless you live in Alaska as Sarah Palin stopped it there).
Are you tired of it now?

Jessia Bonsignore

girl1985 asked:


Hey all, I currently take home about $2100 a month depending on commission (i do insurance). I am 25 and live at home, debt free, and have $35,000 in my savings account and $6,000 in my checking account right now. I wanted to move out and rent an apartment but everyone is telling me to buy a townhome/condo because it’ll be cheaper. Any thoughts on this? My car payment is currently $291 (its a lease that is up next june then I am definitely getting a cheaper car) and my auto insurance is $100. I pay about $45 in gas every 2 weeks. My father pays my phone bill and we have group health insurance so I do not pay those bills. I spend about $150 on groceries a month. Based on all this plus rent, utilities etc. could i afford to move out? I know HOA fees can be expensive and utilities but I really want to move out!!!!I am actually meeting with my bosses tomorrow to discuss a raise since my 2 year review is tomorrow. any advice would be greatly appreciated

Bobby

luggz17 asked:


I’m trying to help grow my online business anyway I can. I would love introduce my online business to the rest of the world and help others save money while making money.

go to: www.quixtar.com

click the register button on the top right hand corner of the page.
my IBO# is 5108088
the key is: ALE

After completing the form remember your access # is you login # used to access your page. There is a toll free # on the page, if you need to request any info about your account. You can always email me at luggz17@yahoo.com and I can forward you your access # but that might take longer. Thanks for your help. Enjoy your savings.

Graham Carstensen

[O]peration [I]raqi [L]iberation asked:


I have a full time job and I support myself. I have a car, my own residence, and get health insurance through my employer. I’m not on welfare and I get by on my own paychecks. I have a savings account and a positive net worth (except for maybe if you count my car note), and I don’t have any credit card debt. I’m not in college, and I’m white.

Yet I’m a staunch liberal. I believe in trickle up economics. I don’t buy into blaming the victim. I would rather have “big government” than “big conglomerates”. I don’t mind paying taxes as long as they get reinvested in the country and not spent on war and on interest to foreign creditors. I do not believe that the answer to soaring energy prices is more tax cuts.

Why is that?

Waldo Schellenberge

middleclassman asked:


Why can`t I just pay the hospital that helped me? I would still not be able to afford health care but maybe that would drop a zero. Why can`t I just open an savings account with my local hospital and make them the bankster.

Anton Verhoeven

Bill O asked:


After the Stimulus, the Bank Bailout, the 410 billion omnibus, and the proposed 610 Billion Health care downpayment, the Congress needed to find the next fiscal emergency for this week!
And they found it!
A proposed $500 Billion Bailout of the Federal Deposit Insurance Corp. the guys that guarantee our checking and savings accounts!Why? Its been hit so hard by the Bank closures, its going broke!
This is scary stuff!
What say you America?
Are we all going down this year?
Please opine if so inclined, and don’t be a blooter in the No Spin Zone!

Lester Javens

Jane asked:


How do you set up a flexible spending account or health savings account? Does your employer have to do it for you? Can you set it up on your own? Can you be self-employed and set one up and fund it? Are they available in all states? Thanks

Dave Edington

Allanas asked:


I have a high deductible health plan and a Health Savings Account, but I don’t know what it covers.

How would I find out? Do I ask at the credit union or the health insurance provider?

Gregorio Weatherholtz

James S asked:


http://www.atr.org/index.php?content=jan1taxes#ixzz0tCsju7Cr

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

(N.B. This version of the document contains even more tax hikes than the original version did)

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:

The Tanning Tax. This went into effect on July 1st of this year. It imposes a new, 10% excise tax on getting a tan at a tanning salon. There is no exemption for tanners making less than $250,000 per year.

The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

Brand Name Drug Tax. Starting next year, there will be a multi-billion dollar tax assessment imposed on name-brand drug manufacturers. This tax, like all excise taxes, will raise the price of medicine, hurting everyone.

Economic Substance Doctrine. The IRS is now empowered to disallow perfectly-legal tax deductions and maneuvers merely because it judges that the deduction or action lacks “economic substance.” This is obviously an arbitrary empowerment of IRS agents.

Employer Reporting of Health Insurance Costs on a W-2. This will start for W-2s in the 2011 tax year. While not a tax increase in itself, it makes it very easy for Congress to tax employer-provided healthcare benefits later.

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include:

The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.

Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.”

Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experime

Claudette Savitch

Adelaido asked:


I’m Mexican, I’m 23 years old and live with my mom who is in her 40’s. We escaped from Mexico to America because my father wanted to kill us because he discovered that We(my mother and I) had a love affair. Before leaving we stole all the money from his savings accounts and we have been supported of that along these years. Here we have decided to live openly as a couple because nobody know us. We are now illegal, but we are struggling to change our identity and obtain U.S. citizenship. Now I have problems with my mom because since I suggested that we should live as a couple asked her children. At firstShe didn’t wanted it because she said me that our children could be born bad but I tried to convince her and She agreed. The first child was born healthy so we decided to have a second child. When our second child was born, the doctors told us that many of his organs had defectus. I don’t know how but my mom is keep him alive. The money of my father is runnig out for this reason. My first child is 5 years old and the second child 3 years old. My mother and me have been suffered a lot about his health. I’ve worked hardly doing anything to keep him alive. But I haven’t been able to keep a job for long time. My mom studied Accounting but She didn’t finish her studies because she had to care about me that’s the reason because she keep her current job and she is almost to obtain the U.S. citizenship.
Before having my second child she and I spent beautiful moments but since my second child was born and We discovered that he is sick and is almost to die anythings are doing very tense and she threatened me that if I don’t get a good job soon she is going to leave me for another and she told me that she is going to throw me out of home because since we have this lifestyle she is no longer considered herself as my mother. She’s still beautiful and many guys who are after her. She has already brought one of their boyfriends to make me jealous. Sometimes I wish never having seduced my mother. I was afraid of going back to mexico because my father I have already asked for help to my father he told me that whereever he meet me he is going to kill me. I don’t want to miss my children even If I miss my mother. Maybe I wish my second son were dead because I don’t believe he’s going to have a normal life and I don’t see that threatment makes him feel better. She is worried about him as me but she desperate and doing her best to make he survive. Sorry because my grammar my mother sometimes is teaching me but I’m a bad student. What do you recommend?

Cory Bieker