[tri-med] Re: Medical Insurance Vs. Medicaid dilema...Input needed


----- Original Message -----
From: "Susan&Glenn Hardy" <hardyboys@xxxxxxxxx>
> As the kids
> get old enough he can "hire" them to do odd jobs at work and pay them
> their allowances and its still a write off to him

Alex did do some work with Jim last year. He got paid a bit above minimum
wage.  :0)  Jim only took him when there were things that Alex could be an
asset. I think he had in 36 hrs over the total summer.

The thing about hiring family (spouse, off spring) is that the business gets
"double whammied" with taxes, UNLESS they earn under a specific amount of
money (in which family is apparently exempt). Jim tells me this (and other
rules) do vary from state to state. Anyone wondering about doing these
things needs to talk with their accountant.

Side note: I was talking with Jim about the insurance situation and he said
that starting next year (pretty sure it's next year), business owners can
deduct 100% the cost of their health insurance premiums from their household
federal income taxes. The scales are FINALLY balancing on this one!!!!!!!
whoo hoo.

Michelle mom to Alex (15,partial trisomy 14 mosaic) and Molly (12)
MichiganUSA


                  Building ___ooOOoo__ Rainbows
                       www.trisomyonline.org
                  Families Helping Families On-line

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