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Question: Are my thoughts unethical, foolish, desperate, illegal, or all of the above?

Recently, I became aware that my employer has been making deductions, in the amount of $225.00 on a weekly basis from my paycheck, along with approx. 12 other co-workers, for our share/payments towards our co. healthplan. This occurred for 8 weeks. We’ve been notified that our plan has been terminated for lnon-payment, as of Dec. 01. 2006. for myself and others it would cost each of approx. $3400.00 to reinstate this plan, plus an addl. $1700.00 for febuary’s premium. Obviously he misappropriated (stole) our funds. Now we’re unsure as of yet, if even our taxes, and FICA have been paid, (We don’t think so).My dilemma. He owes me alone approx. $8500.00 in unpaid/wprked for salary, plus all that he stole. We still have access to the facility and I’m wondering if it were….wrong?…to take possession of some of his equipment, i.e. computers, tools etc. Nothing with sensitive value, but things with monetary value. WE ARE NEVER going to get the monies due us, as he is going bankrupt.

Answer: All of the above. Don't take things into your own hands or you'll end up being the ones in trouble with the law. You have enough grief right now, don't make things worse.

Stick together. Get a lawyer who specializes in representing workers in labor law disputes. Ask around to find an attorney who is SUCCESSFUL in this area. Maybe there are some union folks you know who can ask union leaders who would be good????

You can also contact your state's employment or labor department (different states call them different things, I believe) and see how they can help you but you should talk to a lawyer first. A lawyer might be able to help you better before you talk to the government.

Going bankrupt is one thing, but withholding taxes from your pay and not paying the taxes is a criminal offense. I'm pretty sure your boss will want to straighten things out BEFORE he files bankruptcy.

GET A LAWYER first thing. The sooner the better. Monday morning at the latest, if not yesterday!

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Tax Planning Articles

Question: Is a 50 cent per gallon increase in the gas tax and a new carbon tax a winning strategy for 2008?

Does this sound like a winning strategy?

Plan Uses Taxes to Fight Climate Change

By H. JOSEF HEBERT
The Associated Press
Wednesday, September 26, 2007; 7:34 PM

WASHINGTON — Dealing with global warming will be painful, says one of the most powerful Democrats in Congress. To back up his claim he is proposing a recipe many people won’t like _ a 50-cent gasoline tax, a carbon tax and scaling back tax breaks for some home owners.

“I’m trying to have everybody understand that this is going to cost and that it’s going to have a measure of pain that you’re not going to like,” Rep. John Dingell, who is marking his 52nd year in Congress, said Wednesday in an interview with The Associated Press.

http://www.washingtonpost.com/wp-dyn/content/article/2007/09/26/AR2007092602127_pf.html

Answer: Quite simply one of the dumbest ideas I have heard to date. Man-made global warming hasn't even been proven to be true yet! This is simply an attempt for government to take more money from the people to pay for their pet projects. This must end!

Tax Article

Tax Planning Advice

Plan ahead for your spouse, kids and next of kin by setting out clearly who and what they get from your estate. It also means that by inheritance tax planning you can maximize inheritance tax reliefs and exemptions if your estate might be worth more than the inheritance tax threshold when you die.

Do not underestimate the value of making a will and let your heirs know where to find it to ensure that your estate is shared out exactly as you want it to be. Without a will, your estate will be shared out among your next of kin according to the ‘rules of intestacy’. Inheritance tax planning helps you to maximize what will be shared by your heirs from your estate after transfer fees and other assessments due to government are deducted.

Inheritance tax planning also involves having your estate valued by identifying all your assets less your liabilities; including your household bills and funeral expenses as well as gifts you may have given. Determine what the effective inheritance tax threshold is for the type of relationship you are in with your spouse or civil partner. For married couples and registered civil partners, you can effectively increase the threshold on your estate when anyone of you dies by transferring the deceased spouse or civil partner’s unused inheritance tax threshold or ‘nil rate band’ to the surviving spouse or civil partner. See, without inheritance tax planning, you may miss out on this incentive and the big discount you get.

Gifts you have given away are computed as part of your estate and valued accordingly. If you give your home away to your children and continue to live in it, your estate or your children might still have to pay inheritance tax on the property when you die, as well as other taxes. Gifts into a trust may still be subject to inheritance tax if your estate is over the inheritance tax threshold. However, by inheritance tax planning you will learn that you may give up to £3,000 away each year, either as a single gift or as several gifts adding up to that amount or you can make small gifts of up to £250 to as many individuals as you like tax-free.

Certain types of property can be passed on free from inheritance tax – or at a discounted value for inheritance tax purposes. This can be done while you’re still alive or through your will, yes, definitely, and more so if you do this with inheritance tax planning. You may be able to claim special relief on shares in a business partnership, land, buildings, machinery, farm land, working farmhouses and barns or woodland timber, even on National Heritage property – or famous and important works of art.

Inheritance tax planning can save you more than you are expecting. Let Porterbrown give you free legal advice about inheritance tax planning. It is the only way to secure your family’s future.

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Article Source: ArticlesBase.com – Inheritance Tax Planning Will Save More Than Halve Your Tax!

Tax planning advice : Cobia experts in tax planning

Income Tax Planning Tips

Question: Health insurance for college student in NYC?

I am currently attending college full time and working part -time my mother is insured under medicaid and family health plus and so was i untill i turned 21. They informed my mother that since i was 21 i had to apply on my own and when i did they infromed me that my income was above their guidelines(190-240 before taxes weekly) so what am i to do the insurance plan at my job it way too expensive i cannot afford it and i dont even qualify i cant work more bc of school by i need health insurance asap. any tips advice information??? thank for your time.

Answer: You may want to consider a health savings account or at least choose a plan with a very high deductible.

This way you will have a very low monthly cost but if you choose a reputable company will still have coverage in case you ever get hit with a large medical bill.

Here is some more information finding cheap health insurance and specifically on finding health insurance in New York:

Personal Financial Planning Tips : How to Buy Stocks