Really. What the fuck is this Obama Care?
 

From what I can tell it's just a website that you go to and buy an insurance plan. If you don't you get a fine.
If a person wanted insurance and had money to buy a plan before this just go and buy a fucking plan. This is just one big scam and a fucking disaster.
I spoke to people the day before they launched and they told me it was a good thing. Everyone gets free health care. I laughed and said, NO! you have to buy insurance or become a criminal. They were clueless.

Depending on how much you make, you get a credit on your taxes. But it is free but that all depends on how much or should say how little you make. If you do not make much money it is free or a % of it is. Less = more

In California, if you are self-employed, i.e. a creative pro or entrepreneur like most people I know, they base your ability-to-pay calculation on *gross revenues* and not on what you have left over after expenses.

well to be honest i actually have little idea myself.

there is still a fourteen year old war going on in afghanistan though, and iraq has become unstable again over the last few months. i get it, nobody cares anymore. this christian crusade on the other side of the world is a lost cause. when iraq ended, it was just a peter out, the victory supposedly came in 2003 on board an aircraft carrier featuring cowboy president bush, before even baghdad was stabilised and saddam hussein captured.

back on to obamacare.

By incorporating yourself into a LLC and having separate corporate expenses can you avoid that? I think you can.

That can't be right. What bearing does your gross income as a business have on your bottom line?

Is this on S and C Corps?

I've been told that an LLC does not get around that, but I kind of think you are right in theory and a C-Corp could, if it had few enough employees.

It shouldn't be right, but gross revenue is what Medi-Cal uses to determine whether one qualifies. So, for example, even if a C-Corp with only 4 employees might be a good workaround, how many guys in bands are going to figure out how to do that? The gross that comes in is a lot more than what is left over after tour and merch manufacturing etc. expenses. Basically, most of the industries of California are disadvantaged by this.

Good thing they capped the fines for large corporations or this all might seem unfair :disgust

For me (NJ) health insurance premiums are written off as a pre-tax expense.

California is a real hoot for sure and I'm totally fucked :2 cents:

Delaware LLC all the way. Only losers pay taxes.

those loop holes have been closed for some time now and highly doubt you are doing nine figure numbers a year that this would make a difference.

All I know is they have a $2 billion datacenter set to vacuum up the internet so they can spy on their owns citizens but they can't seem to keep this supposedly most important website up and running.

What you wrote would make sense and be based on gross income, but Medi-Cal is based on gross revenue.

Just keep paying your taxes and you will be fine. You have zero idea about anything without a lawyer and a CPA. :1orglaugh:1orglaugh:1orglaugh