US Tax Law And Health Savings Accounts (HSA)

US Tax Law And Health Savings Accounts (HSA)
As healthcare costs keep rising, the traditional employer
paid healthcare coverage is becoming a thing of the past.
Because of this constant steep increase in healthcare
costs, employers are searching for ways to control costs,
and yet still be able to provide health coverage for their
employees.

As a result, employers are looking to their employees to
take more responsibility for how they use their healthcare.

Health Savings Accounts (HSA) are being offered as an
affordable solution. HSA's have some very friendly tax
advantages. Qualified contributions are tax deductible and
the qualified withdrawals are tax free. At the same time,
they force the taxpayer to be more responsible about how
they spend their healthcare dollars.

Ok so can everyone own an HSA? The answer is no. The most
important limitation is that individuals must be covered by
a qualifying high deductible health plan, also know as
HDHP. Once a taxpayer opens an HAS and the fund has a
balance, the taxpayer may use it for qualified medical
expenses regardless whether the taxpayer remains qualified
to make contributions.

Not everyone can open an HSA. The most important limitation
is that individuals must be covered under a qualifying
"high-deductible" health insurance plan (HDHP) to open an
HSA and make contributions to it. Once an HSA has a
balance, however, it may be used for qualified medical
expenses regardless of whether the individual participant
remains qualified to make contributions.

In addition to requiring participation in a high-deductible
medical plan, individuals contributing to an HSA also
cannot have any disqualifying coverage. Coverage for this
purpose is determined on the first of each month, month to
month. This feature allows an individual the flexibility
even within a single tax year to be qualified to make
contributions in any or all months.

A taxpayer who is enrolled in Medicare Part A or Part B
cannot participate in an HSA because it is a form of
disqualifying coverage. However, if the taxpayer is
eligible for Medicare but has not yet enrolled, he or she
is still eligible to make contributions.

Additionally, the taxpayer cannot have received any medical
benefits from the Veterans Administration for the preceding
three months. Furthermore, active and retired members of
the military cannot make HSA contributions if they receive
benefits under TRICARE, because it does not meet the
minimum annual deductible requirement for an HDHP.

I have very briefly explained here about HAS accounts. I
hope this article has given you some ideas, and I encourage
everyone to further research the advantages and limitations
of HSA accounts. You can realize great savings by properly
managing your healthcare.

----------------------------------------------------
Steve Jackson is a professional income tax preparer with
over twenty years experience, helping clients with their
individual tax situations. Steve offers tax services and if
you file online, he can be here to help you with your tax
situation, and will provide you with free updates during
the year. Contact Steve at http://www.jjackson328.com

Cash Back Credit Cards - Where is the Money?

Cash Back Credit Cards - Where is the Money?
When considering a reward credit card, most people prefer
to get a cash back credit card. This is because, cash back
credit cards provide more options and flexibility for the
card holder. While not everyone frequently travels and not
everyone drives his own car, cash back cards have become
more popular than Frequent Flyer Miles credit cards and Gas
Rewards credit cards.

Cash back credit cards give card holders their incentive in
terms of cash or money points. Each time the card holder
makes a purchase, the purchase amount has a corresponding
cash amount that can be used to make new purchases or pay
other bills. For this reason, anyone can be an ideal
candidate for a cash back card.

Making the Choice

Every credit card issuer offers its own cash back program.
Obviously, each cash back credit card also has its own
terms and conditions to follow. Knowing this, everyone is
advised to take their time in researching about these terms
and comparing each credit card from the other.

Today, you can find review sites that are exclusively
dedicated to providing reliable credit card reviews for
consumers. Usually, these sites are categorized according
to the type of credit card you're looking for. For
instance, if you're looking for a cash back credit card,
you should check out the page that is focused on reviews
about the different cash back cards in the market. Through
these review sites, comparing credit cards become easier.
Once you've narrowed down your choices, based on the
reviews you've read from the site, then you can start
visiting the credit card's official website for further
examination.

Not all about the APR

One of the first things you need to check on is the APR or
in the Annual Percentage Rate. Since most reward credit
cards are accompanied with high interest, you'll want to
search for one with the lowest or most reasonable rate.
Still, the interest rate is not the only cost associated
with your credit card. Don't focus your attention the cash
back card's interest rate alone. Some credit cards may
offer an incredibly low interest rate as part of its
introductory offer but the other costs and charges can take
you by surprise. Always check on the exact cost of all fees
that you'll be paying. For instance, how much is the annual
fee? Is it reasonable enough or would you be paying for an
expensive activation fee every year? How much are the
penalty charges? Don't forget to examine each fee that
comes with your card and make sure that all fees are
reasonable.

Earning and Redemption

Okay, so you've checked on the fees and costs. You've
checked on features. Everything sounds great. But have you
checked on the rules of the rewards? Are you clearly aware
of the procedures on how you can earn points? What about
the steps in claiming the rewards? Is there an expiration
period or blackout date on your card? Remember to take your
time in studying the regulations of the credit card's
reward system before making your decision.

----------------------------------------------------
Ann Wilson is the head writer of Reward Credit Card Site.
This resource provides consumers with valuable reviews and
information on the best credit card reward programs. Its
main objective is to help people to take advantage of
credit card rewards and start earning reward points. Visit
the site at http://www.rewardcreditcardsite.com

Four Tips to a Quick Home Refinance Loan!

Four Tips to a Quick Home Refinance Loan!
Regardless of your credit, it pays to do your part in
helping to guarantee that your refinance loan goes through
without any surprises.

There are four simple steps you can take to make this
happen.

Investigate your credit Estimate your equity Know your
home's value Shop for a good lender

A lot of people don't realize their credit report can hold
some big surprises until it's time to refinance their home.
It's easy to forget to make a payment, and most people
realize one single missed payment can make the difference
between an approval and denial.

Check Your Credit Report...

It's a good idea to check your credit report to guarantee
that what's on there is accurate. If you didn't do what
your credit report says you did, demand that it be
corrected. By the same token, if you were late with a
payment and the credit report doesn't show it, be grateful
for small errors.

Estimate Your Equity...

The amount of equity in your home determines how much
you'll pay for your home refinance loan. If you have almost
no equity it makes zero sense to abuse yourself by
refinancing. It could cost you a bundle. Here's a handy
little tool you can use to get a pretty good idea of how
much equity your working with.

http://moneycentral.msn.com/loan/home_equity_calculator.aspx

Know Your Home's Value...

Knowing your homes value doesn't have to be guesswork, and
it doesn't necessarily have to be a science. Many times
homeowners can find out how much their house is worth by
searching through sites like http://www.Century 21.ca and
http://www.Century21.com.

Since they're the biggest of the
big, you can usually find out relatively easily how much
your home could be worth by using data they collect on
homes they have sold.

http://www.Zillow.com also specializes in pinpointing
specfic home price points, but is currently only offered to
U.S residents.

In real estate, "comps" - or comparative values - tell you
what homes with similar features to your own in your area
have recently sold for, which can give you a rough estimate
of what yours could be worth.

Shop For a Good Lender / Mortgage Broker...

The last step is important, because a good mortgage broker
is sort of like a good steak: really rare.

To make sure you get the best possible lender / mortgage
broker, it's important that you look for the right things.

Hold out for a lender who has a number of different
products for you, to guarantee a smart refinancing
situation. You don't want to be streamlined into a loan
that doesn't fit your plans or it could cost you a bundle.

And if you're planning a big move in the very near future,
it might not make sense at all.

----------------------------------------------------
Darrin Roseborsky is a Refinance Specialist with OMAC
Mortgages, seminar speaker and president of
HomeRefinanceCoach.com. Darrin shows people how to MAXIMIZE
their equity PROPERLY and how to choose options that make
the MOST SENSE for their situation! An example of exactly
how this works, is at: http://www.homerefinancecoach.com

Is The IRS Sending You a Rebate Check? Find Out If You Are Eligible

Is The IRS Sending You a Rebate Check? Find Out If You Are Eligible
Congress recently passed the Economic Stimulus Act of 2008.
It's designed to inject $152 billion into the U.S economy.
What does this mean to you?

You could be one of the 130 million taxpayers who will
receive a rebate check this year.

If you own a business, your business can take advantage of
two tax breaks: Increased Section 179 Amounts and Bonus
Depreciation. For more information relating this this
topic, please see my recent article: "How the New Tax Law
Can Help Your Business: Two Tax Breaks for Businesses.

If you own or invest in real estate, you may find some
relief with your "jumbo" loans.

ARE YOU GETTING A REBATE CHECK?

There are two groups eligible to receive rebates. You can
only be in one group so if you qualify for both, be sure to
pick the group that results in the higher rebate amount.

Group 1: Those who paid taxes in 2007.
Group 2: Seniors, disabled veterans and widows of veterans.

Those specifically excluded from the rebate pool include
nonresident aliens, estates, trusts and dependents
(dependents only have to qualify as a dependent and need
not be claimed as a dependent in order to be ineligible).

WHAT IS THE MAXIMUM POSSIBLE AMOUNT OF YOUR REBATE IF YOU
ARE IN GROUP 1?

Keep in mind that these are the maximum possible rebate
amounts and may not necessary be the amount you ultimately
receive due to limits and phase-outs.

If you paid taxes in 2007, the maximum amount of your
rebate is:

$600 for individual filers
$1,200 for joint filers

Plus, add an additional $300 per qualifying child to your
maximum possible rebate amount. There is no limit on the
number of qualifying children!

Example: If you are a joint filer with two qualifying
children, your maximum rebate amount is $1,800 ($1,200
basic rebate + $600 for two qualifying children).

WHO IS A QUALIFYING CHILD?

If you're familiar with the child tax credit definition,
that same definition applies here. There are several
requirements:

- A qualifying child must not have attained the age of 17
as of the close of the calendar year.
- The qualifying child must be the taxpayer's qualifying
child for purposes of the dependency exemption.
- The qualifying child must be a son, daughter, stepson,
stepdaughter, or descendant of such child, or a brother,
sister, stepbrother, stepsister or a descendant of such
relative.

Don't forget, your maximum possible rebate amount may be
reduced due to limits and phase-outs. Read on to find out
if your rebate amount is impacted.

WILL YOUR REBATE BE LESS THAN THE MAXIMUM POSSIBLE AMOUNT?

If you're in Group 1, your rebate amount may be less than
the maximum possible amount due to limits and phase-outs.

First, the amount of your rebate is limited to your 2007
tax liability. This means if your maximum possible amount
is $600 and your 2007 tax liability is $575, then $575 is
the maximum rebate your can receive.

Second, the rebate amount phases-out based on income levels.

The rebates start to phase-out when:

- A single person's 2007 adjusted gross income is greater
than $75,000
- A married filing joint couple's 2007 adjusted gross
income is greater than $150,000

If you're over these limits, then your rebate amount is
reduced by 5% of the amount exceeding the adjusted gross
income threshold.

WHAT DOES THIS PHASE-OUT REALLY MEAN?

Here is a formula you can use to determine your rebate
amount:

Step 1: Determine your Maximum Possible Rebate amount
Step 2: Determine your 2007 adjusted gross income (AGI)
(You can find this on your 2007 tax return).
Step 3: Is your 2007 AGI greater than $75,000? ($150,000
if joint filer)

If you answered no, you're done! You'lll receive the
maximum possible rebate amount. If you answered yes,
continue to Step 4

Step 4: Calculate your "Excess AGI." Your 2007 AGI -
$75,000 ($150,000 if joint filer) = Excess AGI
Step 5: Calculate your "Rebate Reduction." Excess AGI x
5% = Rebate Reduction
Step 6: Is your Rebate Reduction amount greater than your
Maximum Possible Rebate amount (from Step 1)?

If you answered yes, then your rebate amount is $0. If you
answered no, then your rebate amount is:

Maximum Possible Rebate - Rebate Reduction = Your Rebate
Amount.

Here are a few examples.

Example 1:

A married couple with no qualifying children and 2007 AGI
of $175,000:

Step 1: Maximum possible rebate amount is $1,200
Step 2: AGI is $175,000
Step 3: AGI is greater than $150,000 so continue to Step 4.
Step 4: Excess AGI is $25,000 ($175,000 - $150,000)
Step 5: Rebate Reduction is $1,250 ($25,000 Excess AGI x
5%)
Step 6: Rebate Reduction amount ($1,250 from Step 5) is
greater than Maximum Possible Rebate amount ($1,200 from
Step 1) so the rebate amount is $0.

Example 2:

A married couple with 1 qualifying child and 2007 AGI of
$175,000:

Step 1: Maximum possible rebate amount is $1,500 ($1,200
basic rebate amount + $300 for 1 child)
Step 2: AGI is $175,000
Step 3: AGI is greater than $150,000 so continue to Step 4.
Step 4: Excess AGI is $25,000 ($175,000 - $150,000)
Step 5: Rebate Reduction is $1,250 ($25,000 Excess AGI x
5%)
Step 6: Rebate Reduction amount ($1,250 from Step 5) is
NOT greater than Maximum Possible Rebate amount ($1,500
from Step 1) so the rebate amount is $250. ($1,500 -
$1,250).

WHAT'S THE MAXIMUM AMOUNT OF YOUR REBATE IF YOU ARE IN
GROUP 2?

For seniors, disabled veterans and widows of veterans, the
maximum amount of the rebate is $300 for individual filers
and $600 for married couples filing jointly.

To qualify for the rebate in Group 2, the individual must
have either:

At least $3,000 of any combination of earned income, Social
Security benefits and certain veterans' benefits (including
survivors of disabled veterans), or
Net income tax liability of at least $1 and gross income
greater than the sum of the applicable basic standard
deduction amount and one (two if a joint return) personal
exemption ($8,950 for singles, $17,900 for joint filers).

Unlike Group 1, Group 2 doesn't have any phase out or
additional limits. As long as the taxpayer meets one of
the two requirements above, the maximum rebate will be
issued.

HOW CAN YOU CLAIM YOUR REBATE?

If you file a 2007 income tax return (that's the tax return
due April 15, 2008), the IRS will calculate the rebate
amount for you and will send it by mail or direct deposit
without your having to take any further action.

If you don't file a 2007 tax return but still qualify for a
rebate because of your earned income level, combat pay, or
receipt of Social Security benefits, the IRS has promised
to announce how you will get on the rebate list.

WHAT IF YOU EXTEND YOUR 2007 TAX RETURN?

Because the rebates are based on your 2007 return, if you
file your return after April 15, 2008, your rebate will be
delayed. For example, individuals on extension this year
who do not file their 2007 return until the extended
October 15, 2008 deadline will not receive their checks
until year-end. No checks will be sent after December 31,
2008.

Read about the benefits of extending your tax return.

After 2008, those who missed out on the rebate or received
only a partial rebate get a second shot at qualifying with
2008 data when they file their 2008 return in 2009. This
group includes those who did not receive a full $600/$1,200
check either because their 2007 income was either too low
or too high, or they did not receive a full $300 child
credit because their income was too high or a child was
born or adopted in 2008. They get another chance to claim
the difference based on their 2008 tax return filed in
2009. If a taxpayer would have received a smaller rebate
check if based on 2008 return information rather than his
or her 2007 return, however, the taxpayer is not required
to give back the difference.

WHEN WILL YOU RECEIVE YOUR REBATE?

Congress has directed the IRS to issue rebate checks "as
rapidly as possible." No specific date has been released
yet, but it's likely that the process will start in May.
The government is also likely to utilize direct deposit as
much as possible rather than issuing paper checks. Overall,
the government will have to issue or deposit more than 130
million checks, so the rebate process will take some time.
When we learn how the government intends to issue the
checks, we'll let you know. Also, if you owe any federal
debts or unpaid child support, the government will apply
your rebate to that debt.

----------------------------------------------------
Tom Wheelwright is not only the founder and CEO of
Provision, but he is the creative force behind Provision
Wealth Strategists. In addition to his management
responsibilities, Tom likes to coach clients on wealth,
business, and tax strategies. Along with his frequent
seminars on such strategies, Tom is an adjunct professor in
the Masters of Tax program at Arizona State University. For
more information, please visit
http://www.provisionwealth.com

Be Sure To Take All Your Health Savings Account Write-Offs

Be Sure To Take All Your Health Savings Account Write-Offs
Having a Health Savings Account (HSA) essentially makes all
of your qualified medical expenses tax-deductible, so read
this article carefully to make sure you aren't over paying
your taxes. Remember, there is no virtue in paying more
taxes than you really owe.

Qualified Medical Expenses

The main purpose of your HSA is to enable you to pay for
qualified medical expenses with tax-free dollars. Qualified
medical expenses are defined under Section 213 of the IRS
Code (See IRS Publication 502: Medical and Dental
Expenses). Most people remember to pay for doctor visits
and prescription drugs from their HSA (or save the receipts
and reimburse themselves later), but there are many medical
expenses that people simply pay for, without realizing that
because they own an HSA the expense is tax deductible.
These are the most common:

Over-the-counter medications. Remember, your medicine does
not necessarily have to be prescribed to be considered a
qualified medical expense. Any time you buy a bottle of
aspirin, cough syrup, bandages, or zit medicine for your
teenager - save the receipt, so you can reimburse yourself
from your HSA.

Dental expenses. Dental fees are typically the most
expensive item that people forget to pay for from their
HSA. From cleanings, to crowns, to dentures, all of your
medically necessary dental work is eligible to be paid from
your HSA.

Eye glasses and contacts. Annual eye exams along with
prescription glasses, contact lenses, and other
prescription eye glass expenses can be paid from your HSA
tax-free. Also, remember that prescription sunglasses are
considered to be a qualified medical expense.

Physical therapy. Most individual and family health
insurance plans have very limited coverage for physical
therapy. So you can pay for those expenses out of out of
your available HSA funds.

Medical massage therapy. Yes, you can use funds from your
HSA to pay for a massage, as long as your health care
practitioner recommends it as treatment for a particular
health condition.

Chiropractor visits. Remember that your HSA can be used for
medically necessary expenses. If you go to your
chiropractor due to a particular injury or functional
problem, it is a qualified expense. The chiropractor's
charges would NOT be considered eligible if you are getting
adjustments for general health maintenance.

Mental Therapy

In some circles, seeing a therapist is reason for
embarrassment, whereas in other parts of the country people
brag about seeing their therapists. The reality is that
mental therapy should be neither a symbol of shame nor a
status symbol - it is simply another mode of treatment that
can help people live healthier and happier lives.

Psychiatry, psychology, psychoanalysis, and psychotherapy -
all of these modes of treatment can be paid for from your
HSA. Keep in mind that qualified expenses are those that
pay for treatment or prevention of a medical condition. If
you are seeing a therapist strictly in order to save your
marriage or improve your business skills, these would not
be qualifying expenses.

Alternative Medicine

More and more people are disillusioned with the way
conventional medicine is practiced. The focus often seems
to be on treating symptoms rather than reaching the root
cause. Many physicians are very quick to prescribe the
latest drug, when less expensive, safer, and often more
effective natural remedies may work better.

However, the people who do rely on alternative medical
treatments rarely receive reimbursement from their health
insurance for these expenses. This is one of the reasons
that HSA plans have become so popular among people who do
favor natural and/or alternative medical treatments. Here
is just a very small sampling of the types of treatment
that would be an HSA-qualified expense:

Acupuncture. Some think the beneficial results of
acupuncture are strictly due to the placebo effect. My
veterinarian wife would tell you differently. Though she
mostly practices conventional veterinary medicine, she does
do a good bit of acupuncture on dogs and cats, and gets
some amazing results.

Homeopathy. Though controversial, approximately one out of
50 Americans currently uses homeopathy. Whether using the
services of a professional, or simply buying homeopathic
remedies from the natural food store, remember that these
expenses can be paid for from your HSA.

Traditional Chinese Medicine. Chinese medicine has been
practiced for thousands of years, and is becoming ever more
popular in the United States. Of course, treatment
modalities that originated in other countries, such as
Ayurveda (from India), would also be considered a qualified
expense.

Faith healing, shamanism, energy medicine, and other
(perhaps) far out stuff. Yep, almost any type of treatment
could be considered an eligible expense. Keep in mind that
the procedure must be related to the treatment or
prevention of a specific health condition. Services
designed to raise your chi, balance your chakras, or
strengthen your aura might be more than the IRS will allow.

Every Dollar Counts

Every medical expense you incurred counts, so don't forget
to save your receipts. If you don't, it's like paying an
extra 25% each time. Even some retailers like Target are
starting to mark on your receipts which items are health
related. That should make it even easier to get every tax
break you deserve.

----------------------------------------------------
By Wiley Long - President, HSA for America (
http://www.health--savings--accounts.com ) - The nation's
leading independent health insurance firm specializing in
individual and family coverage that work with Health
Savings Accounts.

Learn Forex Currency Trading Online - The Easy Way!

Learn Forex Currency Trading Online - The Easy Way!
Are you interested in learning how to trade currency on the
foreign exchange market? If so, there is no better way to
learn than by taking advantage of the wealth of resources
available to you online.

Forex is a hot subject, and there are so many web sites
about it, it can be hard to know which sites are relevant
and trustworthy versus which ones to avoid. My goal here is
to help you cut through the clutter, and find the resources
you need to learn Forex trading online - the easy way!

Step One: Know Your Terms

The hardest part of learning any system is usually in the
memorization of vocabulary, and the concepts represented by
the 'jargon'.

Forex is certainly no exception to this rule.

More often than not, you'll come across a word you are
unfamiliar with - and you'll look it up - only to find the
definition contains 2 or 3 other concepts you've never
heard of before.

So, before you dive in too deeply, make sure you have a
good reference handy. One very helpful site is
'InvestoPedia' (http://www.investopedia.com/).

Step Two: Open An Online 'Demo' Trading Account

You can test your basic knowledge - without losing your
shirt - by opening a demo Forex account with an online
broker.

Demos trades allow you to spot the weaknesses in your
skills and knowledge, while also getting you comfortable
with the fast-paced speed of the market and quick-thinking
required to move on opportunities.

Step Three: Consider Investing In Your Education

There are more than a few top-notch Forex training courses
available online. Some of these courses are run by online
brokerages and are interactive in nature. Other courses may
include ebooks or how-to videos put together by experienced
investors-turned-teachers.

Getting a Solid Forex Trading Education

There are a lot of Forex trading courses online that
promise to teach you everything you need to know to jump
into the market with confidence. If you are new to Forex,
though, how can you tell which ones will truly provide you
with the solid Forex trading education you need?

A reputable course should training material on all the
fundamental concepts for beginners, including:

*Exchange rates
*Fixed rates versus floating rates
*Currency pairs
*Bid Prices versus Ask Prices
*Spreads
*Lot Sizes
*Margins, Margin Calls and Leverage
*Pips Values and their role in calculating profit
and loss
*How to evaluate leading economic indicators
*How to read Forex signals and charts

This is just the bare minimum. A really good course should
also walk you through a variety of trading examples, and
show you how to perform 'test trades' yourself using a demo
account with a reputable broker.

Another thing you can do to help speed your learning
process is to immerse yourself in the literature of the
market. There are scores of books and magazines available
on the subject both online and off. You might want to have
a look at the free, online magazine called Currency Trader
(http://www.currencytradermag.com/).

Finally, consider enhancing your knowledge of other
financial marketplaces. You'll find some concepts and terms
repeated when reading about how to trade on the Stock
Market, or how things like interest rates fluctuate for
bonds, bills and other instruments.

This is especially useful if you feel more comfortable in
one area of financial knowledge than other because you'll
be able to see some related concepts from Forex in a
context with which you are already familiar.

Make sure you choose a course that suits your needs,
learning style and budget. Avoid any courses that sound too
good to be true in terms of the financial gains they
promise you. Forex takes time and you won't get rich
overnight on currency trading. It takes dedication,
patience and practice.

Above all, remember to have fun!

----------------------------------------------------
Ever wished you could trade on Forex, but don't know how?
Let me show you the best resources and training materials
available online, and start learning today!
http://www.learn-forex-basics.com

North Carolina Health Insurance Purchasing

North Carolina Health Insurance Purchasing
When it comes to purchasing health insurance, most people
are not quite sure where to start. For those who are not
able to purchase health insurance through their employer,
going out on their own and finding a plan is a task that
seems overwhelming. But, it does not have to be. There
are actually a few rules that everyone can stick to when it
comes to purchasing a health insurance plan that can save
both time and money. Here are the top ten rules that
everyone should follow when it comes to purchasing health
insurance on their own:

1. Always check the Financial Rating of the health
insurance carrier. While there are many different
insurance companies out there to choose from, some are
better than others. A Financial Rating can tell consumers
which health insurance companies will be able to serve them
best, and those with an "A" rating or higher should be the
insurance companies that consumers choose to purchase from.

2. Check to see if the health insurance carrier is
committed to the health insurance market where you live.
For example, you should find out how long they have been
providing health insurance in your state, how large their
network is in your state, and find out what would happen if
they decide to stop writing insurance in your state so you
know what type of plan they have for their customers.

3. Check to see if your current family physician accepts
the new health insurance that you are considering.
Remember that any health insurance plan will actually
penalize you for using a doctor that is out-of-network, so
you want to make sure that the doctor you currently use is
in their network, or you are comfortable switching to
another physician.

4. Research all of the in, and out-of-network, benefits
that the health insurance company offers to customers.
This way, you will know exactly what is, and is not,
covered when you need to use those services.

5. Does the health insurance carrier limit the number of
visits that your co-payment will cover in a calendar year?
You will be surprised at the number of insurance companies
that actually limit how many times you can use your
co-payment benefit in a given calendar year. You should
always make sure that you check and are aware of any
limitations on your number of visits.

6. Make sure that you disclose all health information about
you and any family members that are applying for coverage
on the health insurance application. Any failure to
"disclose" health information can cause some serious
problems for you and family members down the road and the
insurance carrier can deny your claims.

7. Make sure that you read all the policy exclusions and
limitations before you purchase a health insurance policy.
If you are aware of what benefits are and are not covered,
then you will have a better grasp on out-of-pocket expenses.

8. Research the health insurance company's prescription
drug benefits before you purchase a plan with them. Find
out what the maximum benefit they offer is and what drugs
are covered, and at what rates. This way, you will already
know what your current medications will cost you.

9. If the health insurance plan seems too expensive, then
consider raising your deductible and your co-payments to
make your premiums more affordable. Most carriers will
offer great reductions for higher deductible plans and
offer consumers a better and more consistent rate on their
premiums.

10. Use an insurance agent. An agent is an expert helping
hand when shopping for insurance.

----------------------------------------------------
Todd McLeod of McLeod Insurance Agency, an agency that has
been helping clients find the right North Carolina Health
Insurance for over 35 years and offers plans from Blue
Cross and Blue Shield North Carolina (R). For more
information please visit http://www.nchealthbenefits.com .

How the New Tax Law Can Help Your Business: Two Tax Breaks for Businesses

How the New Tax Law Can Help Your Business: Two Tax Breaks for Businesses
Congress recently passed the Economic Stimulus Act of 2008.
It's designed to inject $152 billion into the U.S economy.
What does this mean to you?

If you own a business, your business can take advantage of
two tax breaks: Increased Section 179 Amounts and Bonus
Depreciation.

You could be one of the 130 million taxpayers who will
receive a rebate check this year. For more on this tax
relief topic, please see my recent article: "Is The IRS
Sending You a Rebate Check? Find Out If You Are Eligible."

If you own real estate or invest in real estate, your may
find some relief with your "jumbo" loans.

INCREASED SECTION 179 AMOUNTS:

Before the new law, a business could expense up to $128,000
of the cost of qualifying property in 2008. Under the new
law, a business can expense up to $250,000 of the cost of
qualifying property. This is a huge increase!

Even the phase-out limits are increased. Before the new
law, if the cost of qualified property placed in service
during the year was more than $510,000, the amount a
business could expense was reduced (dollar for dollar) by
the amount over $510,000. Under the new law, the dollar
for dollar reduction still applies but the old $510,000
ceiling jumps to $800,000.

What property qualifies for the Section 179 Deduction?
The new law makes no changes to the general rules for the
types of property that are eligible for Section 179
expensing. Generally, the property must be depreciable
tangible personal property (so real property, such as land
and buildings, does not qualify) that is actively used in
the taxpayer's business. The property must be used more
than 50 percent for business and must be newly purchased
property.

BONUS DEPRECIATION:

The other incentive is bonus depreciation. The new law
provides qualifying taxpayers 50 percent first-year bonus
depreciation of the adjusted basis of qualifying property.
Make sure you make the election on your tax return - it's
required in order to claim the bonus depreciation.

What property qualifies for bonus depreciation?

To be eligible to claim bonus depreciation, property must
be one of the following types of property:

- Eligible for the modified accelerated cost recovery
system (MACRS) with a depreciation period of 20 years or
less (this includes most equipment, computers and furniture)
- Water utility property
- Computer software (off-the-shelf)
- Qualified leasehold property

The property generally must be purchased and placed in
service during 2008. Original use of the property must
begin with the taxpayer and must occur after December 31,
2007 and before January 1, 2009.

How is the luxury auto depreciation impacted?
Congress also increased the limitations on "luxury" auto
depreciation. Ordinarily, the first-year limit on
depreciation for passenger automobiles cannot exceed
$3,060. However, this limit was increased when bonus
depreciation was previously available to $4,600. The new
law raises the cap once again, setting it at $11,060 for
passenger autos and $11,260 for trucks and vans.

CAUTION! Be sure your business use of qualifying property
stays above 50%. If it falls below 50% you may have to
recapture some of the benefit previously claimed under
Section 179 or the bonus depreciation.

WHAT DO THESE TAX BREAKS MEAN FOR YOUR BUSINESS?

These are very generous changes! These changes provide
American businesses with an estimate $44 billion in
additional deductions in 2008.

You will definitely want to plan your business purchases
now. If you are planning on making equipment purchases in
the next few years, now is the time to look out how moving
those purchases to 2008 can cut your tax bill.

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Tom Wheelwright is not only the founder and CEO of
Provision, but he is the creative force behind Provision
Wealth Strategists. In addition to his management
responsibilities, Tom likes to coach clients on wealth,
business, and tax strategies. Along with his frequent
seminars on such strategies, Tom is an adjunct professor in
the Masters of Tax program at Arizona State University. For
more information, please visit
http://www.provisionwealth.com