Re:America’s Health-Care Crisis Is a Gold Mine for Crowdfunding
by mdorazio on Thursday June 15, 2017 @06:08PM
(#14564864)
Exactly this. A big reason preventing me from quitting my day job and working on my side business full-time is cost of healthcare. When you have to pay the insurance premiums yourself and still end up with multi-thousand dollar deductibles, the prospect of losing employer-subsidized care is really hard to swallow. If Americans really want to support growth of small businesses, we need to seriously consider single payer.
[ Parent
| on HN ]
Re:America’s Health-Care Crisis Is a Gold Mine for Crowdfunding
by xenihn on Thursday June 15, 2017 @06:36PM
(#14565055)
>A big reason preventing me from quitting my day job and working on my side business full-time is cost of healthcare.
Working as intended.
Re:America’s Health-Care Crisis Is a Gold Mine for Crowdfunding
by fpgaminer on Thursday June 15, 2017 @07:04PM
(#14565209)
As far as I know * , you can write off your personal health insurance premiums as expenses on your taxes when you're filing as a sole proprietor or an SMLLC (and I assume something similar under S and C corps). So ... at least that's a ~30% discount.
* Based on a little research I did; I'll find out for sure next April :P
P.S. Another nice thing about going solo is your 401k. You can set up a Solo 401k, which has a MUCH higher contribution limit. 401k through employer is limited to ~14k, while a solo 401k is up to something like 50k. Plus, you get to pick your 401k provider, and as far as I could tell Solo 401k through Vanguard was _significantly_ better than the criminal fees I was subjected to under my previous company's 401k.
This is all assuming your side business is successful enough to fill that extra 50k bucket :P