Tax Stimulus Bill
Just in time for me I saw this in Your Money from the New York Times.
What's in the Bill for You By RON LIEBER
This was an excellent article published on February 12, 2009.
The section on Unemployment is of particular interest to me
"UNEMPLOYMENT Normally, you pay federal income taxes on federal unemployment benefits. In 2009, however, you won't have to pay taxes on the first $2,400 in benefits you receive."
The insurance question is also a part of getting things organized for me.
"HEALTH INSURANCE If you get fired, your company is required, thanks to a law known as Cobra, to allow you to pay to keep your health insurance, generally for up to 18 months. The problem is, it can cost you $1,000 a month or more to keep the coverage. Now, the federal government will subsidize 65 percent of the premium for up to nine months. To be eligible, you need to have been forced out of your job between Sept. 1, 2008, and Dec. 31, 2009. "
"Also, your income in the year you receive the subsidy cannot be more than $125,000 for individuals or $250,000 for married couples filing their taxes jointly. If you lost your job after Sept. 1, 2008, and declined Cobra coverage, you'll now get another chance. Call your former company in the next two months to find out how this will work."
"You need not keep an eye on the mail for a subsidy check from the government, according Kathryn Bakich, senior vice president in Washington of the Segal Company, a benefits consulting firm. Instead, your former employer will collect the money from the government. . . . . "
This may also be of interest to job seekers.
"HIGHER EDUCATION TAX CREDIT
This credit covers up to $2,500 of the cost of college tuition and other related expenses in 2009 and 2010. You'll need to spend at least $4,000 in a single year to get the full credit. . . ."
"TRANSIT ACCOUNTS If you commute to work via public transportation, your employer may allow you to set aside pretax money from your paycheck to pay for the bus, train or parking. Currently, you can put aside only $120 a month for mass transit while those who drive and park can save $230. This year and next, those who take mass transit will also be able to put aside $230 each month."
The article covers the full gamut of benefits to taxpayers but these are the parts most applicable to the job seeker. Look up the full article here: http://www.nytimes.com/2009/02/13/your-money/13money.html
What's in the Bill for You By RON LIEBER
This was an excellent article published on February 12, 2009.
The section on Unemployment is of particular interest to me
"UNEMPLOYMENT Normally, you pay federal income taxes on federal unemployment benefits. In 2009, however, you won't have to pay taxes on the first $2,400 in benefits you receive."
The insurance question is also a part of getting things organized for me.
"HEALTH INSURANCE If you get fired, your company is required, thanks to a law known as Cobra, to allow you to pay to keep your health insurance, generally for up to 18 months. The problem is, it can cost you $1,000 a month or more to keep the coverage. Now, the federal government will subsidize 65 percent of the premium for up to nine months. To be eligible, you need to have been forced out of your job between Sept. 1, 2008, and Dec. 31, 2009. "
"Also, your income in the year you receive the subsidy cannot be more than $125,000 for individuals or $250,000 for married couples filing their taxes jointly. If you lost your job after Sept. 1, 2008, and declined Cobra coverage, you'll now get another chance. Call your former company in the next two months to find out how this will work."
"You need not keep an eye on the mail for a subsidy check from the government, according Kathryn Bakich, senior vice president in Washington of the Segal Company, a benefits consulting firm. Instead, your former employer will collect the money from the government. . . . . "
This may also be of interest to job seekers.
"HIGHER EDUCATION TAX CREDIT
This credit covers up to $2,500 of the cost of college tuition and other related expenses in 2009 and 2010. You'll need to spend at least $4,000 in a single year to get the full credit. . . ."
"TRANSIT ACCOUNTS If you commute to work via public transportation, your employer may allow you to set aside pretax money from your paycheck to pay for the bus, train or parking. Currently, you can put aside only $120 a month for mass transit while those who drive and park can save $230. This year and next, those who take mass transit will also be able to put aside $230 each month."
The article covers the full gamut of benefits to taxpayers but these are the parts most applicable to the job seeker. Look up the full article here: http://www.nytimes.com/2009/02/13/your-money/13money.html
posted by Bluesbaby at 6:34 PM
0 Comments:
Post a Comment
<< Home