Are medical premiums deductible on federal income tax and what is the percentage for medical bills?
83386
Medical premiums all with all other non-reimbursed medical expenses are deductible but they have to be a certain percentage over your adjusted gross income.  Most people don't get to that percentage.  Your income would have to be fairly low and your medical expenses fairly high to get the deduction.  And you have to itemize your expenses.  I copied the IRS web address that has all of the information on it below.
16473
There are a number of federal taxes that people pay.  Federal Income Tax is just one of them.  FICA taxes include both Social Security and Medicare.
210271
The only legal fees you can deduct from your taxes are fees pertaining to taxes and legal fees for your business if you have one. So the answer is no.
266769
When buying individual disability insurance the question of "how much do I need?" takes a back seat to the question "how much can I get?". Insurers base their policy structure on a maximum replacement percentage. While this limit varies a little from company to company and even occupational class to occupational class, you typically cannot get a benefit amount greater than 66-70% of your gross income. the last thing the insurer wants is for the insured to make more money being on disability than if they went back to work.\n\nJust as important, maybe even moreso, is checking the policies definition of disability. It will either be an "any occupation" (Any Occ) or "own occupation" (Own Occ) definition. You want to get a policy that uses the Own Occ definition. Here's the difference:\n\nOwn Occ: Benefits paid if you are sick or injured and cannot perform the material duties of your occupation.\n\nAny Occ: Benefits paid if you are sick or injured and cannot perform the material duties of your occupation, or any other occupation for which your experience and education is appropriate.\n\nOne last note: Assuming you are buying individual coverage, you probably do not want to claim the preiums as a tax deduction. As you already know, your benefit amount will be capped at around 70% of your gross. This should roughly equate to your net pay after taxes. If you deduct your premiums any benefits paid will be taxable. If you do not deduct the premiums then any benefits are tax free.
303546
I assume you are the insured rather than the employer.  The COBRA premium you pay is treated like any other health insurance premium; in other words, as a medical expense on Schedule A.
1074667
$27 * 12 = $324 gross for day\nNext you need to annualize the gross so if you work 3 days a week.\n$324 * 3days/week * 52 weeks = $50544\nNow you need to subtract your exemptions (3300 per exemption) so if you claim your self\n$50544 - $3300 = $47244\nLook in the tax table for which tax is calculated for this taxable amount.\nFor a single it is:\n$4,222 + (0.25 * ($47244 - $30650)) = $8370.50\nThis gives your years tax total at this pace, so now we deannualize it and round to the nearest dollar.\n1. FWT = 8370.5 / (3 days/week * 52 weeks/year) = $54.00\nNow SS tax is 6.2% and medicare tax is 1.45% of taxable gross\n2. SS = $324 * 0.062 = 20.09\n3. MED = 324 * 0.0145 = 4.70\nFinally take gross and minus the taxes\nNet = 324.00 - 54.00 - 20.09 - 4.70 = 245.21\n\nNow this is the case if you are single, work a 12 hours a day 3 days a week, and you claim yourself as your only exemption.\n\nIf you know the exact number of days you work in a year, you can calculate the exact tax per day (instead of the days * number of weeks that I used).  The SS and Medi. taxes are the same percentage for all.
17712
It may be that they will waive the deductible if you are double covered, but if you are paying by payroll deduction you might want to discontinue one or the other.  Ask the benefits specialist at each employer.
855856
Those expenses are only a factor if you choose to itemize.  If the "we" in your questions suggests that you are married and intend to file jointly your standard deduction for 2006 will be $10,300.  The portion of medical expenses that exceed 7.5% of your AGI are deductible.  That amount and your other deductions would need to be greater than $10,300 before you would make that choice. But you should still keep the documentation of those medical expenses.  You would include in your medical expenses any mileage you drove to receive the care.  The rate for 2006 is .18 cents a mile.
281502
No. The only thing that could happen is the income that you make will put you in a higher tax bracket. If you make enough money and don't need to work, but want something to do you can volunteer and the miles and expenses you have are deductible if you are on a schedule a. As long as you volunteer at a non profit org.(hospital, goodwill). Do which ever you want you will not get penalized just a higher tax bracket is all. Good luck to you
200146
how much federal taxes you owe.  For employees, this would include income tax, FICA and Medicare.
180221
no it is not. If it is in your company's name then it is deductible to your company but if it is in --your b/f or g/f name then no it is not tax deductible. Sorry I couldn't give you better news. Good Luck
656837
Federal tax rates for 2006 are:\n\n15% on the first $36,378 of taxable income;\n22% on the next $36,378 of taxable income;\n26% on the next $45,529 of taxable income; and\n29% of taxable income over $118,285.\n\nProvincial is 10%
38988
It depends. Yes, If it is a life threatening situation, go to the financial dept. of your hospital and tell them your need a application in which the government will pay all or part of your bill (it's based on your income). THey have it. It's a federal law.  Good Luck.
75120
In the US, if you receive a settlement for a personal injury, any amount that covers items such as medical expenses and lost wages, what would be called compensatory, will not be subject to income tax.  An amount that you receive that is designated as punitive damages would be taxable.
527677
Most people don't pay a part A premium because they have enough work credits.  Part B premiums are $88.50 per month in 2006.  If you get a Medigap (supplemental insurance) or a Part D (prescription drug) plan, those premiums will be in addition to what comes out of your check.  Part D premiums on average are around $25.
152869
For most people in your situation: add up all state taxes paid or withheld during the year, property and real estate taxes paid, interest paid on a mortgage, charitable contributions. If greater than $5,000, itemize.\nMedical expenses are only counted if they exceed 7.5% of your adjusted gross income.  If you make $40,000, then only the amount of medical expenses over $3,000 can be included as an itemized deduction.\nCar and credit card loan interest do not count towards this.\nDo not use the "average itemized deductions" reported by TurboTax and others.  If you do not have documentation for your expenses and you are audited, you will be paying penalties and interest.\nBusiness expenses will NOT affect your itemized deductions.  They are reported on a separate schedule.  However, unreimbursed expenses you pay as an employee can be included as itemized deductions if they are greater than 2% of your adjusted gross income (line 37).
814588
ou may deduct up to $3,000 of the qualified child and dependent care expenses paid in a year for one qualifying individual, or $6,000 for two or more qualifying individuals. These dollar limits must be reduced by the amount of any dependent care benefits provided by your employer that you exclude from your income.\n\nirs.gov:  FAQ\nChild Care Credit/Other Credits \n\n7.1. Child and Dependent Care Credit & Flexible Benefit Plans\n\n7.2. Child Tax Credit\n\n7.3. Credit for the Elderly or the Disabled\n\n7.4. Hope & Life Time Learning Educational Credits\n\n7.5. Other Credits