Write to your Congressman NOW!
October/19/2007 Financial Management
Just back home from a wonderful vacation in Ireland, I found this vitally important email alert from PPA:
Professional Photographers of America (PPA) urges all members, photographers and small business owners to ask their Congressional Representatives to support The Equity for Our Nation’s Self-Employed Act (H.R. 3660), co-sponsored by Congressman Ron Kind (D-WI 3rd) and Congressman Wally Herger (R-CA 2nd).
Self-employed individuals, including self-employed photographers, pay for health insurance costs with after-payroll tax dollars. This means that the money they use to buy health insurance for themselves and their families is subject to an additional 15.3 percent tax that no other employers or employees must pay.
All business entities other than sole-proprietors receive a deduction for health insurance premiums as an ordinary and necessary business expense for all employees, including owners. Employees and the owner pay for their health insurance premiums pre-tax; therefore, they are not subject to FICA taxes. However, sole-proprietors (Schedule C filers) do not receive this benefit. Their premiums are not paid with pre-tax dollars and are exposed to self-employment tax. Again, sole proprietors are the only business entity that does not receive a full deduction of health care costs.
Health insurance premiums average almost $12,000 per year for family coverage. It is estimated that HR 3660 will save every self-employed individual about $1700 annually.
PPA's Copyright and Government Affairs Office has made it very easy for you (even if you are not a PPA member) to contact your Congressman. Simply click here, then enter your ZIP Code in the first field. A sample email is there for your use, or you can write your own. It takes only a minute or two to accomplish this important task. Please do so NOW! This so important!
If you want to say thanks to PPA staff for the important work they are doing in our behalf, click here to drop a line to Al Hopper, Director of Membership.
Professional Photographers of America (PPA) urges all members, photographers and small business owners to ask their Congressional Representatives to support The Equity for Our Nation’s Self-Employed Act (H.R. 3660), co-sponsored by Congressman Ron Kind (D-WI 3rd) and Congressman Wally Herger (R-CA 2nd).
Self-employed individuals, including self-employed photographers, pay for health insurance costs with after-payroll tax dollars. This means that the money they use to buy health insurance for themselves and their families is subject to an additional 15.3 percent tax that no other employers or employees must pay.
All business entities other than sole-proprietors receive a deduction for health insurance premiums as an ordinary and necessary business expense for all employees, including owners. Employees and the owner pay for their health insurance premiums pre-tax; therefore, they are not subject to FICA taxes. However, sole-proprietors (Schedule C filers) do not receive this benefit. Their premiums are not paid with pre-tax dollars and are exposed to self-employment tax. Again, sole proprietors are the only business entity that does not receive a full deduction of health care costs.
Health insurance premiums average almost $12,000 per year for family coverage. It is estimated that HR 3660 will save every self-employed individual about $1700 annually.
PPA's Copyright and Government Affairs Office has made it very easy for you (even if you are not a PPA member) to contact your Congressman. Simply click here, then enter your ZIP Code in the first field. A sample email is there for your use, or you can write your own. It takes only a minute or two to accomplish this important task. Please do so NOW! This so important!
If you want to say thanks to PPA staff for the important work they are doing in our behalf, click here to drop a line to Al Hopper, Director of Membership.