Air BnB and social security schedule c or e?

[NordlingHouse]

@openhand

I’m wondering if you operate at a constant loss doesn’t IRS deem you a hobby and bill forback taxes after 5 years?

There are 3 businesses where you can run a perpetual tax loss:

Commercial fishing, farming, and owner occupied rentals of 6 units or less.

[NordlingHouse]

@JJD

I don’t think it’s a good idea to avoid showing income just to avoid paying SE taxes, because sometimes you need to prove that you do have an income (for loans, etc).

Exactly why when I was driving taxi that I banked and declared almost all of my tips, which were about 20% of my income. I needed to show the income on loan applications.

[JohnF]

@RebeccaF

my individual policy cost us about $28,000 a year.

@KKC

The one time she mentioned the cost to me it was $500 a month

Speechless

@JJD

That being said, we don’t pay much in taxes even with a good income. And people with a lower income get some or all of their plans paid for. If you are poor enough, you get a plan called Medicaid that is free, which is, oddly, better than many of the plans people pay for (depending on which state because it is state-run).

In the UK private health insurance is not tax deductible, unless you are a business, and I’m fairly sure it isn’t here either as we had it for twelve months, a condition of residency is that you must have health care sorted when applying.

Interestingly, when we did need to use it, everyone said go to the state hospital as it’s better than any of the private hospitals. On the basis if an EU passport, the state hospital was happy to treat.

Brexit has taken away that safety net, for me anyway, hence I now pay into the Spanish health system, and receive the exact same benefits as a Spanish citizen. I could have used my Irish passport as an “in”, but I’d then have to change my residency status (i.e. nationality) which would be a major challenge, beaurocracy wise!

When my OH’s social security contributions expire, she too will have to start paying into the system. But at €60 a month, it isn’t really that bad.

JF

[dpfromva]

Many years ago, I sprained my ankle, actually chipped a bone, stumbling down some museum steps on a vacation in Marseilles. As my ankle swelled up to the size of a grapefruit, a good samaritan called an ambulance.

Ambulance, emergency room visit, x-rays, aircast, pain meds and a cane from la pharmacie, less than $165 in U.S. dollars out of pocket. Excellent care; they even subsequently mailed copies of my x-rays for my U.S. doctor. I was astounded.

We’ve been brainwashed to accept that many are just one medical event away from financial disaster here. it’s a vicious psychological cycle: In the face of such an environment, the mind engages in “it can’t happen to me” defense, even scrambles to blame the victim (whether for causing their own condition or failing to make/save enough money to cover it), thereby sapping recognition of the inanity of the situation and the will to change it.

[KKC]

We’ve been brainwashed to accept stupendous expenditures on the military. Other nations spend a fraction of what we do. When someone talks about what we can afford if they aren’t willing to start there, they aren’t willing to be rational.

Far more Americans are killed and maimed by lack of adequate access to health care than by any foreign threat. Pres. Eisenhower warned us but we didn’t listen.