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  #41  
Old 11-30-2012, 12:25 PM
PaperCutter PaperCutter is online now
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The post I talked about is up: http://revolutionarygardens.com/how-...mall-business/
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  #42  
Old 11-30-2012, 08:00 PM
Roger Roger is offline
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Quote:
Originally Posted by Duekster View Post
....

I was hoping we would have more news about these exchanges.
We are about 30 days from a major fiscal disaster, and we don't know the 2013 tax rates, deductions, and ( ..... add the numerous other things). We should not be surprised that we don't know about the exchanges yet, about 13 months away.

Yes, my first statement a bit sarcastic, but my point is that these last-minute, knee-jerk positions is one of the major reasons for the sluggish economy. Please, do not turn into a political thread here - blame is enough to spread very deep on many parties.

Those in positions to make significant decisions just keep us dangling on the end of a rope with not much that is certain. Two years ago, the tax rates for the next year were not known until the very last days of December. The exchanges is another example. All these last-minute decisions mean that nobody in business can plan anything. Future to those making the decisions is the next day, not the next month, let alone the next year. Somehow they believe that those impacted can "turn on a dime."

Realistically, I expect the provisions of the exchanges will not be known until the last day before implementation. The exchanges will be another last-minute, knee-jerk reaction decision.
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  #43  
Old 12-01-2012, 03:49 PM
hackitdown hackitdown is offline
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We have had the Mitt Romney health insurance mandate in Massachusetts for 6 years now. We also have an "exchange", which is simply a website that helps people select a policy and an insurance company, so you don't need to think much about that, it is easy and works well. The exchange also helps identify people that will get lower cost insurance if they make low wages (many landscape workers). It is like a market where the insurance companies sell their stuff.

I have only 2 or 3 employees (depends on season) so I do not need to offer health insurance as an employer. Most of my employees so far have been under age 26, and stayed on with their parents plan. My best employee is turning 26 this year, so he will need to buy insurance or pay a penalty of about $250 per year on his tax return. He plans to buy insurance, and I plan to pay 60% of the cost. We think the best plan is for him source his insurance on his own through the connector, and I increase his pay to compensate. I think a basic low cost plan for him will be about $250/mo. If that is correct, my share at 65% would be $163/mo. So I am thinking about increasing his pay about $1.25 per hour to help him cover the expense.
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  #44  
Old 12-01-2012, 04:03 PM
205mx 205mx is offline
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Are you counting the extree you'll be paying in payroll expenses?
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  #45  
Old 12-01-2012, 04:18 PM
hackitdown hackitdown is offline
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Originally Posted by 205mx View Post
Are you counting the extree you'll be paying in payroll expenses?
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Not sure...if I do a $1/hr increase, he will not see enough in his check after taxes. So if I do $1.25 he may get enough. I will need to experiment in the payroll system to see for sure. Will I pay some more in matching taxes? Yes.
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  #46  
Old 12-01-2012, 06:00 PM
stephen@freedom stephen@freedom is offline
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I am going to run for president and force people to buy professional lawn care..who wants to send me some campain money? LOL
I guess we will have to do what we always do adapt and overcome. I have actually never bought insurance I am a vet and use the veterans hospital. Dont know what that will mean for me but will find out soon enough.
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  #47  
Old 12-02-2012, 06:57 AM
Duekster Duekster is offline
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Quote:
Originally Posted by Roger View Post
We are about 30 days from a major fiscal disaster, and we don't know the 2013 tax rates, deductions, and ( ..... add the numerous other things). We should not be surprised that we don't know about the exchanges yet, about 13 months away.

Yes, my first statement a bit sarcastic, but my point is that these last-minute, knee-jerk positions is one of the major reasons for the sluggish economy. Please, do not turn into a political thread here - blame is enough to spread very deep on many parties.

Those in positions to make significant decisions just keep us dangling on the end of a rope with not much that is certain. Two years ago, the tax rates for the next year were not known until the very last days of December. The exchanges is another example. All these last-minute decisions mean that nobody in business can plan anything. Future to those making the decisions is the next day, not the next month, let alone the next year. Somehow they believe that those impacted can "turn on a dime."

Realistically, I expect the provisions of the exchanges will not be known until the last day before implementation. The exchanges will be another last-minute, knee-jerk reaction decision.
I agree with you. What businesses, large and small it to know the landscape of what taxes will be, what regulations ( like Bama Care) mean to their bottom line. How can you plan when you do not know what is going to happen.

I am not so sure the so called fiscal cliff is all that bad. We go back to taxes they way they were in 2001 and spending is cut.

Yes we still have Obama care but that is the law of the land either way.
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  #48  
Old 12-02-2012, 07:09 AM
Duekster Duekster is offline
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Quote:
Originally Posted by hackitdown View Post
We have had the Mitt Romney health insurance mandate in Massachusetts for 6 years now. We also have an "exchange", which is simply a website that helps people select a policy and an insurance company, so you don't need to think much about that, it is easy and works well. The exchange also helps identify people that will get lower cost insurance if they make low wages (many landscape workers). It is like a market where the insurance companies sell their stuff.

I have only 2 or 3 employees (depends on season) so I do not need to offer health insurance as an employer. Most of my employees so far have been under age 26, and stayed on with their parents plan. My best employee is turning 26 this year, so he will need to buy insurance or pay a penalty of about $250 per year on his tax return. He plans to buy insurance, and I plan to pay 60% of the cost. We think the best plan is for him source his insurance on his own through the connector, and I increase his pay to compensate. I think a basic low cost plan for him will be about $250/mo. If that is correct, my share at 65% would be $163/mo. So I am thinking about increasing his pay about $1.25 per hour to help him cover the expense.
If you do that, you should ear mark it as payments there are some initial tax credits you get to help your company transition to paying the extra for health insurance.
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  #49  
Old 12-02-2012, 03:35 PM
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jonthepain jonthepain is offline
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Quote:
Originally Posted by JCLawn and more View Post
Now if you had more than 50 employees couldn't you just start another company doing the same thing and spit the employees? Or start multiple temp services of 50 employees to staff your company?
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Common Ownership ERISA Provisions prohibit you from forming multiple companies.

from the blog post that PaperCutter posted. thanks PC.
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  #50  
Old 12-02-2012, 08:12 PM
Duekster Duekster is offline
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Quote:
Originally Posted by jonthepain View Post
Common Ownership ERISA Provisions prohibit you from forming multiple companies.

from the blog post that PaperCutter posted. thanks PC.
You can have multiple ownerships for various assets. However I think Obama care bridges some of that for this purpose.
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