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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: paul61 who wrote (99112)6/29/2009 8:01:28 AM
From: Elroy Jetson  Read Replies (2) of 116555
 
Does your employer pay for your disability insurance, or is it deducted from your after-tax pay?

I'd be willing to bet you don't know. If you pay your premium with after-tax dollars, your potential disability payments will be tax-free - you've already paid the tax. But if your employer paid the premium with your pre-tax income, your benefits will be taxed as ordinary income.

Now all this makes sense as it's logical.

What is particularly strange are employees who expect to get their medical insurance premiums paid for with their pre-tax income, or kicked-in free by their employers -- and then also expect their medical reimbursements to be made tax-free as well.

Many have long enjoyed this tax loophole. They get some of their income tax-free. How delicious. They're outraged by the idea that they might be placed on equal footing with other Americans. They're special. They deserve special treatment. How dare someone think they should be just like everyone else?
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