A single 60 year old guy earns 50k per year. His taxable income is 40k the federal tax due is $6036 per year.
His health care premiums can be $900 a month ($10800 annually) and no subsidy being over the 400%.
That's $16836 taxes on a 50,000 salary.
Does this seem right?
Are the health care premiums a deduction to reduce the federal tax? Or state tax if any.
Health premiums have been a deduction against self employment income maybe this will continue.
What about w2 employees?
Any info?
His health care premiums can be $900 a month ($10800 annually) and no subsidy being over the 400%.
That's $16836 taxes on a 50,000 salary.
Does this seem right?
Are the health care premiums a deduction to reduce the federal tax? Or state tax if any.
Health premiums have been a deduction against self employment income maybe this will continue.
What about w2 employees?
Any info?