18 Burst results for "rachel cohn"

"rachel cohn" Discussed on KTKR 760AM

KTKR 760AM

01:30 min | 2 months ago

"rachel cohn" Discussed on KTKR 760AM

"Accident Choices clear called to 2 to 20 to 80 year Google Caroline Shaw before Cove it If you were over age 70.5, you were required to withdraw a certain amount of money from your IRA before the end of the year. That amount depends on age and the value of the account on the last day of the year before the S and P 500 dropped more than 30% by March 2020, meaning people required to take Rmds would have had to sell at potentially big losses, Rachel Cohn CEPA and managing partner to Cone, Cosa Fan company says That doesn't apply this tax here during the pandemic. When this stimulus bill chain now they said, you don't have to take a required minimum distribution. This year. In addition to, Khan says, if you took money out of your pension as a result of the pandemic, and you're under age 59 a half, you would have normally been charged a 10% penalty on top of attacks but because of coded The penalty was waived for 2020. I'm Elvis stacked in Morosini Sports Radio one on your television box sports dot com for details. One..

Rachel Cohn March 2020 10% Elvis CEPA 20 2020 2 Khan Cone This year 80 year more than 30% Google Cosa Fan One Caroline Shaw over age 70.5 Morosini Sports Radio age 59 a half
"rachel cohn" Discussed on All In with Chris Hayes

All In with Chris Hayes

01:45 min | 2 months ago

"rachel cohn" Discussed on All In with Chris Hayes

"We are no longer recommending pause to the johnson and johnson vaccine. I support the a cip's recommendation that the johnson and johnson covid nineteen vaccine be used for persons eighteen years of age or older in the united states population under the fda's emergency use authorization. And i have signed this recommendation with these actions. The administration of johnson johnson covid nineteen vaccine can resume immediately. Where you haven't ten days. After pausing the use the johnson johnson coronavirus vaccine and fda cleared the one shot vaccine just over an hour ago. A decision praised. Dr fauci the fact that the cdc in the fda originally hawes wiz should underscore to everyone that we take safety very very seriously so when a vaccine is let out again to be able to be vaccinating people in this country you can rest assure. The that's a safe inefficacious vaccine early last week. Federal health officials call for halton usa vaccine after six women between the ages of eighteen. forty developed. A rare blood clotting disorder at the time more than seven million doses have been administered since. Then we now know of fifteen cases of this specific disorder. Three people have died. Four people were sent to intensive care. Those cases are not nothing i mean. There's a reason. I think they paused it. But today s cdc panel that went through this thoroughly said the vaccine's benefit out with risks. Although they did pose a potential warning label the decision to resume using the vaccine gives us back another important tool in our arsenal fight. This virus as ever. us adult is now eligible. Get shot

Rachel cohn Rachel Reuters Four people Three people eighteen years fifteen cases today more than seven million doses ten days forty six women more than a billion people united states one shot vaccine Three hundred thousand new cas more than one hundred countrie India fauci over three hundred thousand a
"rachel cohn" Discussed on NewsRadio WIOD

NewsRadio WIOD

01:44 min | 2 months ago

"rachel cohn" Discussed on NewsRadio WIOD

"Out of an abundance of caution. A number of colleges did not allow students to come on campus. As a result, room and board was refunded what you did with that money and where it came from matters. Rachel Cohn, SEPA and managing partner of a cone close up and company says If it came out of a 5 29 account, you have to return it. When you got the reformed you have 60 days to put that money back in the 5 29 point because you didn't spend it on room and bored to come, says the distribution must match the year The money was used. If you don't return the money, Expect attacks belt. Here's why, When you open up a 5 29 College fund for your kids or grandkids, you don't get a tax deduction, but the money grows tax free if you don't want to pay taxes and avoid a 10% penalty on earnings. You have to use it for college expenses on Lee I'm Ellis stacked in Rossini. You are entering the Freedom Hut, A place liberty and patriotism call home shoulder to shoulder to come together. She'll sign to protect America is the Buck Sexton show Buck Sexton joins us now, or CIA analyst former NYPD intelligence officer. Now, Buck Sexton, thistles. Only time that I have a platform to say something and I've had something on my mind. It's affected me in a lot of people that I love. And I'm gonna take a lot of criticism for saying what I'm about to say. But I'm gonna say it anyways, because I feel it needs to be said I was driving by elementary school.

Rachel Cohn NYPD 60 days SEPA 10% CIA Buck Sexton Lee Ellis 5 29 Freedom Hut point Rossini America
"rachel cohn" Discussed on NewsRadio WIOD

NewsRadio WIOD

02:27 min | 2 months ago

"rachel cohn" Discussed on NewsRadio WIOD

"Nothing compared to the experience of going to this baby. It's in the heart of Miami, Little Havana. It's a great experience. I feel like I'm with family baseball game is very exciting. Miami Marlins baseball game This so much more exciting. You combine that with playoff team and you're talking about a city that's gonna fall in love with me. Experience the 2021 season lot visit marlins dot com slash tickets. Under the 2017 tax law. The standard deduction was raised to $24,400 for a married couple because of the limit of $10,000 for state and local taxes. More people are using the standard deduction instead of itemizing Rachel Cohn, CEPA and managing partner of a Cone, Cosette and company says this year if you and your partner are over age 65 you will each receive an additional deduction so they would get in next to 1300 each, which is another 2600. We had that to the 24 400. They're going to get a standard. Deduction. The sheriff $27,000 that is subtracted from the total income to come up with the taxable income. Joe Cohen says the standard deduction works out for some people. But if your state and local taxes are far in excess of $10,000, and you work in a state other than the one you live in the standard deduction doesn't work out well, particularly for people living in New York, New Jersey, Connecticut and California. Malice stacked in Rossini. The following is a pre recorded program. You are entering the freedom Hunt a place Liberty and patriotism call home his Biden turning back to trump border policies. Plus the president waivers on P G A woke nous. And Hutchison's self immolation a shooting in Maryland. The media is not coming very much. And United Airlines pledges Maura Diversity in hiring shoulder to shoulder to come together. You'll tying to protect America is the Buck Sexton show. Buck Sexton joins us Now We're CIA analyst former NYPD intelligence officer. Now, Buck Sexton. The border is a mess. You know that very clear. Based on all the news stories that you can see on this, And if you just read the basic facts and figures or if you're really just understand the Democrats. View.

Joe Cohen New York United Airlines Maryland $24,400 $27,000 NYPD $10,000 Miami Connecticut Hutchison CIA CEPA Rachel Cohn 2021 New Jersey Democrats California Maura Buck Sexton
"rachel cohn" Discussed on KPRC 950 AM

KPRC 950 AM

01:33 min | 2 months ago

"rachel cohn" Discussed on KPRC 950 AM

"ESPN and the NC double A two attempts by South Carolina with seconds remaining, fail to go in as Stanford heads to the national championship on Sunday with a 66 to 65 victory back in the national title game for the first time since 2010. They're gonna be taking on their Pac 12 rival, Arizona, the Wildcats stunning top dog Yukon 69 59 to head to the championship. For the first time in program history. That Napolitano fox name I'm Joe. Cheers. Under the 2017 tax law. The standard deduction was raised to $24,400 for a married couple because of the limit of $10,000 for state and local taxes. More people are using the standard deduction instead of itemizing Rachel Cohn, SEPA and managing partner of a cone close up and company says this year if you and your partner are over age 65 you will each receive an additional deduction so they would get in Mr 1300 each, which is another 2600. We had to the 24 400. They're going to get a standard deduction. The sheriff $27,000 that is subtracted from the total income to come up with the taxable income. Jack Owen says the standard deduction works out for some people. But if your state and local taxes are far in excess of $10,000, and you work in a state other than the one you live in the standard deduction doesn't work out well, particularly for people living in New York, New Jersey, Connecticut and California. Malice stacked in Rossini..

Jack Owen New York $24,400 $10,000 $27,000 Rachel Cohn Connecticut ESPN Malice SEPA 65 66 Sunday New Jersey California first time Pac 12 Stanford Wildcats Napolitano
"rachel cohn" Discussed on KOA 850 AM

KOA 850 AM

03:03 min | 2 months ago

"rachel cohn" Discussed on KOA 850 AM

"And after a slow year for airports, Denver is stepping up with a big investment. India Yes, they are April. It's for maintenance and construction contracts. The City Council approving 11 contracts representing $112 million in spending at the airport Councilwoman Amanda Sawyer, the only member to vote against the contract, she said. Contracts were too vague, calling on Lee for the companies to be on call for general construction rather than specific projects or services. If you're the parent of a college student who wound up learning remotely because of the pandemic might want to check your 5 29 account. Alice Stockton, Racine. He has today's tax tip. During the pandemic out of an abundance of caution. A number of colleges did not allow students to come on campus. As a result, room and board was refunded what you did with that money and where it came from matters. Rachel Cohn, SEPA and managing partner of a cone close up and company says If it came out of a 5 29 account, you have to return it. When you got the reforms you have 60 days to put that money back in the 5 29 point because you didn't spend it on room and bored. I'm Alice stacked in Rossini. President Biden signing an extension of the P P p. That's the Federal paycheck protection program and thanking lawmakers on I want to thank senators Carton. Sheen. Rubio and College for their work in the Senate bipartisan effort P. P p alone program for small businesses during the pandemic, the president calling small business the backbone of the U. S economy, and it's a revision of the new Coke that came out in the eighties for a bit. Volkswagen shifting gears after reports of a name change surfaced this week. News broke earlier this week that German carmaker Volkswagen would be changing its name to volts wagon with a T as the company shifted its focus to making electric cars. Turns out. It was just an April Fool's Day joke that leaked a few days too soon. The company that has its domestic headquarters in Virginia says the name change was just a prank to get some publicity for their new All electric SUV. I'm Rory O'Neill. In our next update Rents in Denver on the move, and it won't be a popular move for renters will have that at 7 42 with money news. I'm David Cale K away news radio. Remember when United did that with Ted there rebranding campaign? You remember it better than I do. I Googled it was 2003 when they came out with that. On Then it turned out. It was just a big marketing campaign. They weren't gonna rename their you know, low cost division, Ted, we were talking in the last week. I think if Coke did that on purpose, so brilliant, more. Yeah, that is just that. It's just made a ton of money. Didn't I? Cynical, but man, it works. Any ink is good in cake. It was so bad that new Coke I think they were trying to rival Pepsi, which is a lot sweeter if they said 7 14 and Colorado's Morning News sports time Now with.

Rachel Cohn Rory O'Neill $112 million Amanda Sawyer 2003 Virginia 60 days Volkswagen SEPA Alice Stockton April David Cale K last week Pepsi Sheen United 11 contracts Senate April Fool's Day Alice
"rachel cohn" Discussed on NewsRadio WIOD

NewsRadio WIOD

03:59 min | 3 months ago

"rachel cohn" Discussed on NewsRadio WIOD

"More people in Florida can get a Corona virus vaccine. The eligibility age drops to 40 then includes all adults a week later. We want to keep up that momentum as we expand eligibility to other age groups. Governor De Santis. They're more than 70% of those 65 up have gotten vaccinated in Florida between Monday and Wednesday, Florida expects to get nearly 700,000 doses of the three vaccines. The Corona virus has killed another cop. Broward County Sheriff's Office says that detention Deputy Sergeant Shane Owens died Saturday He'd worked in the office for nearly three decades. He was 48 Republican State lawmakers push election changes to make it harder to vote A State House bill would require drop boxes be staff and only available during regular early voting hours. It would also give election supervisors less leeway when verifying signatures on mail in ballots. Blazing Goldie, a sponsor's The bill. When we look at vote by mail balance, there are almost no safeguards. All we're asking for is some reasonable safeguards to ensure the sanctity of the vote in elections supervisor point out that Florida has had mail in voting with no problems since 2002 and drop boxes used in 2020 also led to no reported fraud. Democrats say the GOP merely wants to suppress their votes Monday Marks National Vietnam War Veterans Day you might never have heard of it. It came from the Vietnam War Veterans Recognition Act only three years ago. I'm grateful for everything our Vietnam veterans have done to handle Kate for Gold Star families. Some Florida resident Loren Burke's father, Army captain Joseph Berkson, died in action in Vietnam in 1972 many of the events that would normally happen Monday to mark the occasion. Go virtual well. Florida's news I'm John Mc Weston. Way all side Coming words matter way We're all responsible. The president incited right wing terrorists For months, our cities burn orgy of deadly white supremacist businesses for shattered, he told a crowd fight like Hell. They said nothing to double standard has to stop stand up in the coming weeks and months together. We must work together and tell all of us the truth. We have no choice. He bit here, Divided way will fail unusual. Video success W Y o D Under the 2017 tax law. The standard deduction was raised to $24,400 for a married couple because of the limit of $10,000 for state and local taxes. More people are using the standard deduction instead of itemizing Rachel Cohn, sepia and managing partner of a cone close up and company says this year if you and your partner are over age 65 you will each receive an additional deduction so they would get in next to 1300 each, which is another 2600. We had that to the 24 400. They're going to get a standard deduction. The sheriff $27,000 that is subtracted from the total income to come up with the taxable income. Joe Kohn says the standard deduction works out for some people. But if your state and local taxes are far in excess of $10,000, and you work in a state other than the one you live in The standard deduction doesn't work out well, particularly for people living in New York, New Jersey, Connecticut and California. I'm Alice stacked in Rossini. From Premiere Networks live across America. This is the Ben Ferguson Show Way. Got a big show for you tonight, US center Marsha Blackburn is going to join us in just a little bit, also will deal with the insane press conference. And it is an insane press conference that happened with Joe Biden this week on wall to deal with the new gun control measures. Bus drive by the Miles tax. Yeah, they're pushing it that as well. Before we get to all that..

Joe Kohn John Mc Weston Joe Biden Rachel Cohn New York 2020 Marsha Blackburn Loren Burke Vietnam War Veterans Recogniti $24,400 $27,000 $10,000 Connecticut Florida America Saturday 40 Governor Joseph Berkson 1972
"rachel cohn" Discussed on NewsRadio WIOD

NewsRadio WIOD

01:35 min | 3 months ago

"rachel cohn" Discussed on NewsRadio WIOD

"The standard deduction was raised to $24,400 for a married couple because of the limit of $10,000 for state and local taxes. More people are using the standard deduction instead of itemizing Rachel Cohn, CEPA and managing partner. It's a cone coast up in company says this year. If you and your partner are over age 65 you will each receive an additional deduction. Should they get initial 1300 each, which is another 2600. We had that to the 24 400. They're going to get a standard deduction. The sheriff $27,000 that is subtracted from the total income to come up with the taxable income. Jack Owen says the standard deduction works out for some people. But if your state and local taxes are far in excess of $10,000, and you work in a state other than the one you live in The standard deduction doesn't work out well, particularly for people living in New York, New Jersey, Connecticut and California. I'm Alice stacked in Rossini. Since you are entering the Freedom Hut, a place liberty and patriotism call home shoulder to shoulder to come together. She'll sign to protect America is the Buck Sexton show Buck Sexton joins us Now We're CIA analyst, former NYPD intelligence officer. Now, Buck Sexton. What is the latest on? What should we take from this shooting in Boulder, Colorado,.

Jack Owen New York $24,400 Rachel Cohn NYPD $10,000 Connecticut $27,000 New Jersey Buck Sexton CIA CEPA California 2600 each Rossini Boulder, Colorado Alice 24 400 this year
"rachel cohn" Discussed on KTRH

KTRH

01:33 min | 3 months ago

"rachel cohn" Discussed on KTRH

"So we're gonna take a break, And when we come back, we're gonna have strategies to maximize your soul security benefits. So stay tuned. This is money matters, and I am Ken more Wraith during the pandemic out of an abundance of caution. A number of colleges did not allow students to come on campus as a result, room and board was refunded. What you did with that money and where it came from matters. Rachel Cohn, SEPA and managing partner Aja Cone, Cosa and Company says If it came out of a 5 29 account, you have to return it when you got the reforms. You have 60 days to put that money back in the 5 29 point because you didn't spend it on room and bored to Khan says the distribution must match the year The money was used. If you don't return the money, expect attacks belt. Here's why, When you open up a 5 29 college fund for your kids or grandkids, you don't get a tax deduction, but the money grows tax free. If you don't want to pay taxes and avoid a 10% penalty on earnings, you have to use it for college expenses on Lee I'm Ellis stacked in Rossini. He shark when stocks go high, but beware when they start to descend. It's then that those allows says go back to their spouse said Diamonds are a girl's best. And we are back. This is.

Rachel Cohn 60 days SEPA 10% Aja Cone Khan Ken more Wraith Lee Ellis Cosa and Company 5 29 point 5 29 account Rossini
"rachel cohn" Discussed on Pop Culture Happy Hour

Pop Culture Happy Hour

05:51 min | 7 months ago

"rachel cohn" Discussed on Pop Culture Happy Hour

"We are going to talk next. Netflix limited series dash and lilly. It is based on a wii novel by rachel cohn and david love then and they also wrote by the way nick infinite playlist which was also made into a movie. That i kind of doug. It's about these two high school age kids and they're both At home by themselves for christmas and she leaves a note book in the strand bookstore with kind of an instruction that starts him on a kind of a scavenger hunt. Then they start leaving notes in this notebook for each other daring each other to do different things but they don't actually meet they. Just leave the notebook to pick up. So it's kind of this correspondence falling for each other. Kind of things. Serena what did you think the top you to comment on the trailer says this. Look stupid as all hell. I can't wait to watch and that's exactly what happened to me. I think it's cute. I loved it. It was silly. So sue me. It was great. I really like this new style of round com protagonist. Like think of your large in covey's as played by lana condor until the boys. I've loved before they live in their heads. But they're not like socially illiterate. I think The casting and this was great. I really rooted for both ash. An lily but i think lily really stole the show. I liked that she wasn't this ugly duckling who needed this makeover or the cool guy didn't transform her she didn't need to become you know swan prince s. She was already cool. And mostly self confident and i liked how their romance helps her live. Maybe a more fuller life. She likes such study to try new things and come out of her shell. In that way. And i think that's a really healthy way to portray young love to me. The young people who are going to watch this in a way that i really could've used when i was growing up. I hate those Like the very hetero idea of like a man fixes or saves a woman. And i think it's not doing this at all austin abrams. Who plays dash has this wonderful Like shallow may. Sad boy factor. That makes them very endearing. Sorry the dash. The book is a little bit more pretentious and arrogant and root for him as much until i think Abrams is really bring a lot to this character. I think pedantic book readers who are coming into the series might be a little disappointed that some of the dares changed In some of the dynamics are different. Make the the love square as it is introduced in the series exist in the book..

rachel cohn david love nick infinite lana condor Netflix lilly prince s doug Serena covey austin abrams lily Abrams
Why The Cost Of Air Ambulances Is Rising

NPR's Business Story of the Day

05:08 min | 1 year ago

Why The Cost Of Air Ambulances Is Rising

"Two thousand and two the. US Government introduced a new policy that allow private players to enter the air ambulance industry. This decision brought more competition into the market yet. The cost of an air ambulance trip sword. So why do the normal rules of supply and demand not apply. Here's Cardiff Garcia and Rachel Cohn from our daily Economics podcast the indicator from planet. Money to understand how air ambulance services became so expensive. You actually have to go back to a time when they they were cheaper a time when hospitals were the largest provider of the service ambulances really grew out of emergency rooms that decided. Hey we won't have a way to get people here faster. They were owned by hospitals. They were part of the hospital system. They were on the master hospital bill and often covered by insurance because it was a hospital service. So that is Dr Marty mccarey. He's a surgeon and professor of Health Policy and management at Johns Hopkins University. He says that for a long time hospitals were not making money from their air ambulances. They provided that service is because they could start charging patients. Once they got to the hospitals there were virtually actually no for profit providers companies that were trying to make a profit but in two thousand and two this began to change. The government rolled out a new policy. That change just the amount of money that area meals providers could make from transporting Medicare and Medicaid patients. But basically what you need to know. Is that the new policy made it more lucrative for independent independent ambulance providers that groups other than hospitals to offer the service and what this did was to incentivize outside group's thinking of investing in air ambulances. Silence is because now they were assured more money for transporting Medicare and Medicaid patients but also they could provide these services for this whole other group of patients. People not not covered by Medicare and Medicaid in other words people who had private insurance the result is that the number of air ambulances in the US nearly doubled in the vast majority today are owned by for profit providers and so here is where the normal dynamics of supply and demand start to go skew. They start to get a little weird see in a normal. Oh market that big increase in supply. The supply of air ambulance providers would usually mean a good thing for consumers because consumers now have more choice means more competition competition between those providers in usually means cheaper prices for consumers but in the area relents market. That's not what happens. That's because customers in in this market can't shop around and compare prices and services in an emergency situation. The customer doesn't choose which air ambulance provider to call the ritual. You spoke to a a couple who experienced this firsthand so the story takes place back in two thousand eight back then. This man named David Jones Scott into a terrible accident on a New Jersey highway. He was driving with his girlfriend at the time now. His wife Juliet when their car flipped over and tumbled at sixty five miles an hour onto the highway shoulder. First responders honors arrived at the scene and called an ambulance. David was flown out. I so I remember that hearing the ambulance land I was completely out of the car. Getting entreated to Juliette was actually still trapped in the car so emergency services had to cut her out which took awhile and so they ended up calling second air ambulance a few hours later eventually vincent. They made a full recovery but a nasty surprise awaited them exactly so they were actually going over their bills for their treatment together when they realized that they were charged. Different announce for their area blitz transports had a note written contemporaneous. Like it's funny just looking at the the no it says You know seventeen hundred for me and thirteen thousand for Juliette. Seventeen hundred for David in thirteen thousand dollars for Juliette even even though they were transported the exact same distance from the same accident site to the same hospital. I mean there was one difference aside from the price and that's who flew them so David was flown by a public provider but Juliet was flown by a for profit company. So this big increase in supply. It doesn't bring down the price for people getting air transported so the medium price for example charged by an air ambulance for a helicopter transport in the United States. That is now more than thirty six thousand dollars if you ask the Association of Air Medical Services About this there the industry group that represents air ambulances. They suggest that ambulances have become more expensive to provide but Dr mccarey he sees things differently so he says that the main reason these companies are charging so much for their services is because they can. There's nothing to stop them and so quickly. This second back industry grew of private equity companies. Buying up these air ambulances from hospitals managing the services services and price gouging patients going around the Master Hospital Bill. This has created a situation where people have gotten into a lot of debt and are straining straining their finances just to be able to pay off their hefty air ambulance Bill Rachel Code Cardiff Garcia N._p._R.. News.

Master Hospital Bill David Jones Scott Dr Marty Mccarey Juliette Association Of Air Medical Ser Medicaid United States Juliet Us Government Medicare Bill Rachel Code Professor Of Health Policy Cardiff Garcia Johns Hopkins University Rachel Cohn New Jersey Daily Economics
"rachel cohn" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

09:45 min | 1 year ago

"rachel cohn" Discussed on The Indicator from Planet Money

"I'm Rachel Cohn. How are Ya High Cardiac? How are you good good so you were for a little while a producer on the indicator I was is yeah? You're now helping out at one of our favorite podcasts rival podcast but you still love it called reply. All you've come back because you've brought us this really intriguing story about air ambulances. Yeah Right. Where does the story begin so the story takes place back in two thousand and eight back then? This man named David Jones got into a terrible the accident on a New Jersey highway. He was driving with his girlfriend at the time now. His wife Juliet when their car flipped over and tumbled at sixty five miles an hour onto onto the highway shoulder so badly injured. I take it really badly injured. So what happened. was actually first responders called an ambulance. That's like the helicopter that comes to the side of the highway highway when you're in a terrible bad traffic and you can't get them out any other way. They call exactly so David was flown out. I so I remember that hearing the ambulance unplanned completely out of the car getting. It's actually still trapped in the car so emergency services had to cut her out which took awhile and so they ended up calling a second air ambulance a few hours later. You said that eventually they made a full recovery. Yeah but there was a nasty surprise involves here. I tell us about that exactly so they were actually going over their bills for their treatment together when they realized that they were charged. Different amounts for their area blitz transports like very different amounts had at a note written Com contemporaneous. Lee that like I. It's funny just looking at the no it says Seventeen hundred for me and thirteen thousand for Juliette. Seventeen hundred for David and thirteen thousand dollars for Juliette even though they were transported the exact same distance since from the same accident site to the same hospital. Yeah I mean there was one difference aside from the price and that's who flew them so David was flown by public provider fighter but Juliet was flown by a for profit company. Okay and that is the topic of today's show. This is from planet money. Everybody I'm Carlos Garcia and I'm Rachel Cohn yes on today's show we are talking about ambulances. This part of the American healthcare industry where prices have skyrocketed and where the normal laws of supply and demand. Don't don't seem to apply a support for this podcast and the following message come from salesforce. A customer relationship management solution committed to helping you deliver the personalized experiences that customers want salesforce bringing companies and customers together visit salesforce dot com slash. Learn more to understand how Aaron ruined services became so expensive you actually have to go go back to a time when they were cheaper a time when hospitals were the largest provider of the service air ambulances really grew out of emergency rooms that decided. Hey we have a way to get people here faster. They were owned by hospitals. They were part of the hospital system. They were on the master hospital bill and often covered covered by insurance because it was a hospital service. So that is Dr Marty mccarey. He's a surgeon and professor of Health Policy and management at Johns Hopkins University. Dr Doc mccarey wrote about the air ambulance industry in a book. You recently published called the price. We pay appropriately enough. Actually he says that for a long time hospitals roles were not making money from their ambulances in fact some hospitals were even providing air transport at a loss air ambulances traditionally have not been a real real revenue center for hospitals because they make money on the patients once they arrive at the hospital from all the services provided and so throughout the nineteen eighties and nineteen nineties. And that was the business model. Hospitals were not trying to make money on the air transport itself. They provided that services because they start charging patients once they got to who the hospitals so hospitals provided air ambulances for the majority of air transports and so although there were some government groups and independent private. Have IT companies who were providing this service. In addition to hospitals there were virtually no for profit providers companies that were trying to make a profit but in two thousand and two. This began to change that year. The government rolled out a new policy. That changed the amount of money that area means providers could make from transporting Medicare and Medicaid patients. Basically what you need to know. Is that the new policy made it more lucrative for independent ambulance providers that's groups other than hospitals to offer the service so under the previous system. Independent providers typically made less money for transporting Medicare and Medicaid patients than hospital providers but under the new system all all providers were paid at the same rates. And what this did was to incentivize outside group's thinking of investing in air ambulances. Because now they were assured more money for transporting Medicare and Medicaid patients but also they could now provide these services for this whole other group of patients. People not covered by Medicare and Medicaid aid. Other words people who had private insurance and private companies and private equity firms in particular realized if those patients could be billed independently of the hospital an outside of their insurance network there was virtually no limit to what they could be charged and so quickly this second back industry grew of private equity companies buying these air ambulances from hospitals managing the services and price gouging patients going around the Master Hospital Bill. The result is that the number of Aaron balances in the US nearly doubled in the vast majority today are owned by for profit providers. And so here here is where the normal dynamics of supply and demand start to go askew they start to get a little weird see in a normal market that big increase in supply. The supply of air ambulance providers would usually mean a good thing for consumers because consumers have more choice means more competition between those providers and usually means it's cheaper prices for consumers but in the area milli- market. That's not what happens. That's because customers in this market can't shop around and compare prices and services says in an emergency situation. The customer doesn't choose which air ambulance provider to call. I mean the customer might even be unconscious rate the first responders or hospital workers. There's are usually who call an ambulance so this big increase in supply. It doesn't bring down the price for people getting air transported instead the exact opposite happen. Prices have gone on way up so the medium price for example charged by an air ambulance for a helicopter transport in the United States. That is now more than thirty. Six thousand dollars dollars an air methods which is the name of the largest air ambulance provider. It went from charging an average price of thirteen thousand dollars per air transport in two thousand seven in two charging fifty thousand dollars in two thousand sixteen now to be clear. These are the prices that fall on people with private insurance. If you get into an accident and you're on on Medicare or Medicaid you're bill will be covered by the government but if you're one of the millions of people with private insurance you could be stuck with a very expensive bill. I mean many private insurance companies only pay ambulance providers roughly the same amount that the government pays them which is like between three to five thousand dollars and that it means that the remainder of the bill maybe tens of thousands of dollars is left up to you to pay. I think the natural question there Rachel is. How did this happen? Why did the price go up so much? Even though all these new air ambulance providers got into the business well if you ask the Association of Air Medical Services About this and we you did there the industry group that represents ambulances. They suggest that Aaron balances have become more expensive to provide. They say there's been an increase in the number of Medicare patients as well as an increase in the number of rural hospitals that have closed which means air ambulances have to travel a longer distances and operate in less populous areas which which brings greater costs but Dr mccarey he sees things differently so he says that the main reason these companies are charging so much for their services is because they can. There's nothing to stop them. Not the patients who in that moment are at their most vulnerable and not even insurance companies who typically would act as the interface between patients and the provider seat unlike costlo's independent private providers of air. Ambulances usually do not have pre negotiated rates with insurance companies. The Government Accountability Office did a major study recently where they looked at over. Twenty Thousand Air Ambulance transports that took place in two thousand seventeen and they found that more than two thirds of those transports they were not in the patient's insurance network in other words. Those patients were not covered for their transports. And when that's the case in other words when a patient is out out of network the only thing that constrains the price that they can be charged by an ambulance company is what they believe. The accident victim will be able to pay they send a bill for ten million million dollars. A penny of it will never be paid. But if they set the bill at just above what's considered payable then they'll be a mass effort for it to try to pay these bills and in fact that's exactly what we see. Yeah we see a situation where people might have to go into a lot of debt and really strain their finances just to. I would pay off that bill. Rachel thanks so much for bringing us. This super interesting story Cardiff deserted indicator was produced by Lena Sons. Scary fact check out. Lewis our editors Patty Hirsch in indicator is a production of N._p._R...

Rachel Cohn Medicare Thousand Air Ambulance David Jones Dr Marty mccarey Master Hospital Bill Aaron Medicaid Juliet United States Association of Air Medical Ser New Jersey Juliette producer Johns Hopkins University professor of Health Policy
"rachel cohn" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:32 min | 1 year ago

"rachel cohn" Discussed on The Indicator from Planet Money

"Don't touch it. You ate the whole thing. Well not just that with me. Oh so this is the episode where cardiff cardiff steals the snacks. Yes delicious okay listener questions for mary. Let's go hello this. Is tom dickson from eagan. Minnesota your finance fridays. He's got me wondering about a question why are public companies so fixated on their share prices are they actually out in the marketplace selling additional shares to generate cash so we should actually break down the question a little bit so public companies. These are companies that trade on stock exchanges so you can buy their shares and when a company's shares go up. It's obviously good if you own those shares but also it might tempt the company to issue new shares. They can get a lot of money from it right right so that's the fundamental purpose here is a company company wants to sell news slices of ownership in itself so it can go fund doing something awesome like buying another company or pouring money into research and development building a new plant any any of these things that requires money they can go out and sell more shares and new shares that did not exist before correct so they had a pool of <unk> shares outstanding and there's going to add more to the pool which means if you're an existing shareholder. You're kind of on the losing end of this because suddenly the party that you attended. It was just like a hundred. Have you got a lot more crowded yeah so now you have to split your ownership of the company with more people which means your little slice of the ownership is worth a little bit less basic economics. Thanks there's more supply okay and tom's question was about the idea that once a company's shares go up that company will be more likely to issue more shares because it can raise money. How often does that happen. These follow on share offerings so last year american companies raised one hundred and forty three billion dollars in these types of follow on offering a lot which is kind of insane because especially you compare that with initial public offerings where a company isn't publicly go public and that only raised fifty four billion dollars last year. It was actually a lot more and hardly anybody talks about it. I think we just get so excited about i._p._o.'s because it's like a it's like fresh meat. Hey i don't know those those figures are according to p. w._c. Great answer mary. Thank you so much. I did a lot of work on that diligence. Next question is from listener chris. This is chris from santa clara california. Do you think the people in finance are inclined to fall victim to a self serving bias leaves them to think their success is due to their own on hard work when there's more due to external factors like luck. What do you think yes yes. They are inclined to fall to self serving bias where they attribute their success to their brilliant genius and hard work and not to other things like circumstances or look. I think there are a lot of people that don't see perhaps all of the very very many things that went into their own successes and that's a normal human thing. I think we all do that yeah. Of course this happens to people in the financial sector just because they are people this is something that happens to all of us. We tend to like look at people out in the world and we say well their success is a result of like lock and all these other things but for us we like to believe it's our own talent and genius right and there's this debate in the market as to whether confidence can actually help or hurt you because sometimes you do have to really fully believe in yourself and the trait that you're putting on in the market when no one else will sometimes you have a time you buy a stock and everybody hates. It and it's going down. You know this thing's going to go up right and you can be wrong for a long time. Hi and you might be losing money for a long time like for example there was this hedge fund manager michael berry who before the financial crisis knew that housing was doomed and this is actually all in michael lewis's book the big <unk> short <hes> he was super sure he knew it he put on all these bets but he was really early and housing kept going up and he was like just sitting there short just betting against it waiting down right. It looks really bad for a long time and it's not clear at that point you know the thing hasn't happened yet so he could just be wrong and have lost a ton of money of course as we no no. No the housing market did indeed fall made a ton of money. He was proven super correct but that confidence served him really really well to get through the kind of tough period where the market was going against him right but not everybody's michael berry to be clear for every real michael berry actual hetero manager with an insight actual traitor who knows something and just really confident in god it it thoroughly ninety nine to a million people who really think they got it but don't actually because quite a range i find very few people who are michael berry a lotta. A lot of people put on bats and everybody goes against them and there's a good reason and get some those people just gonna end up losing their money right there just wrong. It turns out okay. Next question comes from listener darren who did not send us his audio file so producer. Rachel cohn is gonna read it in her best darren voice. I guess why not i. It's it's me darren. I wanna know how shareholders benefit from share buybacks. Why would shareholders prefer an action that could increase stock prices but is not guaranteed to a dividend that is real cash in a shareholders hand. Thank you okay first of all. We should explain what a share buyback actually is mary. Oh that's one company buys back some of its shares and the way this works is at a company might have a bunch of cash right and they're not sure what to do with it. I'm not sure what to do with the and they see that in the market. The shares of that company are underpriced. They think the managers of the company are like wait a minute why are shares trading waiting for so cheap we should use the company's own cash to buy back those shares that's right and so they go into the market and they just kind of zip up their own shares which has the effect of reducing kind of overall number of outstanding shares which means that the ones out there that are left are worth mortgage. You're still kind of owning that same slice of the company because is you end up owning like a bigger piece of the company. If you keep your shares after those other shares are hoover up correct okay so if you own shares of a company and the company does a share <unk> buyback the value of your shares will go up so yeah the mary the second part of listener darren's question is why if you are a shareholder. Would you prefer that a company do a share sure buyback instead of just offering dividend which is when a company essentially just gives cash directly to shareholders so to be clear. The idea here is that this company has is all this extra cash but rather than buying shares back why not just give out that cash so effectively in some ways it ends up being the same thing whereas dividend do you have the stock and then you have some cash but with a buyback you have the stock that just became more valuable. There is a tax difference as the shareholder receiving a dividend. That's just cash anytime. You just get cash like that. That gets taxed so that same year you get the dividend you gotta pay taxes money coming into your pocket. The government wants them in the case of share buybacks. Though oh the stock just went up and you can kinda just hang on and not have to sell it and you only have to pay taxes on that now higher stock when you actually sell it okay so you can and basically hold onto it and avoid paying taxes for a while yes although you are taking the chance that the stock might plummet at some point so it's a little bit less in your pocket yeah. It's more risky mhm mary. Thanks so much for having a pleasure i._o._u. Peppermint patty go. I'm gonna go by you that right. Now this episode of the indicator it was produced by richard cohn fact check by emily lang and edited by patty kirsch indicators of production of n._p._r. Um.

michael berry darren tom dickson cardiff mary Minnesota Rachel cohn eagan richard cohn chris i._p._o. fund manager santa clara california michael lewis hoover producer patty kirsch emily lang
"rachel cohn" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

05:26 min | 2 years ago

"rachel cohn" Discussed on The Indicator from Planet Money

"And so if there's a retirement savings crisis it's our problem. How do we solve it and so so this is occurring to you in this moment you have it is all i had to put on some blush and stuff sure sure i mean and sally thought yes. I've got it. This is my mascara moment. Oh man i'm going to tell all the banks this. This is the way to help solve the retirement crisis. Get women to take their money out of savings accounts where it's not really earning anything anything and put that money into the market there is so much money being left on the table in our economy and i know where it is. Let's go after it and make it happen and we will all win. In sally super connected in the financial world so she started setting up meetings and pitching her revelation too big banks. The meetings did not go well. I i was at breakfast with one c._e._o. Had just gone through women have five trillion dollars gender investing gap ninety percent of women manage their money on their own at some point in their life but at at added at it and then he looks soulful into the distance and then turns to means but don't their husbands manage their money for them and i didn't i just say ninety percent of women manage their money on their own at some point in their lives. Sally also knew the c._e._o. Had a point traditionally money has been the domain of men and managing money. Money is often uncomfortable for women or something they don't think to do often women will get married and automatically. It's husband's domain in fact sally experienced this herself else after she got married. I think i read that for a while. You even you weren't managing your oh yeah because i grew up in the same society we all did and i grew up in the south thin. The boys do the money and the girls do partake parties and i every you know this foundational <hes> view that i had he and i were going to be together till death do us part just crack crack depart right right and i mean you were working in investment banker. Yes i know why is this happening. Why aren't women managing their money more. Why aren't they investing more money. As someone who had worked on wall st sally felt like she knew why this was happening. Ninety percent of mutual fund managers are men ninety. Five percent of hedge fund managers are men ninety. Percent of traders are men eighty. Six percents of financial actual advisors are men and as a result of the business of money being led by populated by men they have built a business that men you feel more comfortable with than women do a business that you see <hes> shown on c._n._b._c. the trading floors ri- shouting lot of feels all right the the raison d'etre of the industry being to outperform to win to buy low to sell high these these things are sports like right tend to. I know you know you don't think it and then once you start thinking and you're like wait a minute and now i'm gonna tell you something you're going to go. Ooh ooh oh uh-huh in a second when i say even the symbol of wall street oh the bowl the bronze the bull with the those huge testicles i mean can you be any more male anymore phallic than that. No i mean it's not even a symbol. It's not even so i mean i think we'll have to have those frasier testicles like it's so weird right. You're getting these very male symbols plus what society has fed to us. You like you know what this is for my husband or my spouse eventually sally struck out on her own and founded l. invest in investment advisory firm that markets to women and and tries to convince them to invest more eldest also does a lot of research into women and investing looking at what kinds of things will convince women to invest more money apparently leap having concrete financial goals very helpful for women like saving up a certain amount of money to buy a home or philip college and also more straightforward investments like an index dex fund where you just put your money in and leave it instead of trying to move it around from stock to stock and predict what's going to go up and down and so he says all this. It's not just a girl power issue. It's an overall economy issue. She says women are this vast largely untapped economic resource and tapping into that potential could help grow so the whole economy. If there is one thing we can do one thing to improve society and grow the economy on amee it is to get more money to women. Investing in women is smart. You know women are more likely to pay back their loans than men are companies run by women tend to outperform outperform companies run by men in terms of returns and sometimes in this conversation. What gets lost pretty quickly when we think <hes> if the women have more don't don't the guys have less. No the economy can grow right. We forget that the economy is not growing as much as we would like for two now l. a. way to grow it is to get more. You know the the the moms who took the brakes when the kids were younger who want to get back in the economy and they can't imagine <unk> having them back in finding jobs for them startups that they drive. These things are so important so important. Today's original episode was produced by megan kane patty hearst is our editor rachel cohn produced the update and the indicator is a production of n._p._r..

sally investment banker rachel cohn patty hearst megan kane philip college editor ninety percent five trillion dollars Ninety percent Five percent
"rachel cohn" Discussed on WGN Radio

WGN Radio

02:40 min | 2 years ago

"rachel cohn" Discussed on WGN Radio

"Seven twenty WGN Chicago time for the news. Here's Roger badesch. We've got some light rain falling around the area. Right now, seventy degrees at O'Hare protesters were heartland alliance on Saturday, the company operates camps, where immigrant children who've been separated from their parents are capped Rachel Cohn of feminist action says President Trump seems to love talking about Chicago for the people who are already forced to live in the shadows now facing a new threat museums of fear. I think it's really important that we have visible protest like today to say, we welcome people from all over the world and Trump had threatened ice raids today in large cities across the country, targeting two thousand families who received deportation orders. He's delayed that plan for two weeks. Dozens were arrested in climate change protests in the heart of Manhattan. More from ABC's Brian Clark demonstrators calling for action on climate change blocked, traffic outside of the new year. Times building here in New York City while some hung banners from the building. The demonstration was organized by the group extinction. Rebellion this protests are called the seventy people arrested brave people should be thanking them, they're gonna go sit in a jail cell now to fight for something that will impact every single one of us a spokesperson for the time said, no national news organization, devotes more resources to covering climate change than the times. Brian Clark, ABC news, New York. President Trump changing his stance on Iran now saying hopes they can become good friends with the US joking that he'd like to help them, quote make run great again. ABC senior White House correspondent Cecilia Vega has more including Trump's decision, Thursday night, not to launch an airstrike against that country learning. More about his abrupt decision to call off a retaliatory strike with just minutes to spare the president now says he made the decision after receiving a more accurate count on potential casualties Vig like the idea of them knowingly. Shooting down unmanned drone, and then we kill a hundred and fifty people. I didn't like that. The president consulted with competing voices and sources say, he ultimately went against the advice of his national security adviser, John Bolton. That is ABC Cecilia Vega. Reporting representatives of aqua Illinois met with residents of university park who wanted to know when they can use their tap water. Again, Craig Blanchette, as aqua illinois's president says they think they know what the problem, we believe chemical adjustment up here in university park has caused a deterioration of the protective coating inside the pipes inside the homes was waving the June water Bill for customers will cover the cost lead testing.

President Trump ABC president Cecilia Vega Chicago Brian Clark Vig Roger badesch New York City aqua Illinois Rachel Cohn university park Craig Blanchette illinois Manhattan O'Hare New York White House correspondent US
"rachel cohn" Discussed on What Book Hooked You?

What Book Hooked You?

05:16 min | 2 years ago

"rachel cohn" Discussed on What Book Hooked You?

"Towards? I I have a huge teetering YouTube red pile of insurance all clever is do and there's all kinds of stuff in there. Definitely contemporary. Why a but also creative nonfiction I teach writing in in a college of communication, which is. Not fiction. You know, it's it's not kind of stuff. So I do read a lot of nonfiction style. And I love my strong defense action. And I've read. No, whatever novel is new. Catching my eye or whatever on your library half. Or you know, whatever. Yeah. Like like must writers though, I try to read a whole lot. And since you, right. Why? What are some why authors are books that? That have maybe over the years really have grabbed you an and really have stuck with you. So many. And I think like I started to think about writing wine that was the time of like the Megan McCafferty books, and I was in love with those would you know, kind of bad ass. Jessica, darling. Sloppy first second helping others. I love those. I'm John green fan. But I was particularly a fan of looking for Alaska that no I hadn't read anything like that. When I first runs out, and it seems so smart, and I remember all the talk about the great perhaps that seem to me just new fall in Rachel Cohn. Gingerbread those were all the books that I was for point over as I was thinking about doing my own writing for the first time, you know, since you mentioned you teach writing. Could you give maybe me or some listeners like what is your? What is your kind of main alcohol it an anthem that you try to drive home with your students when it comes to writing. And whether it's nonfiction, or maybe it would be fiction, or whatever case may be. What is you know, the common feedback are the the the major point that you're you find yourself commonly stressing to writers, and and maybe young developing writers that you might face. So this is like super pragmatic. I try to embrace when I call the beauty of the TK in in journalism, the capital letters, t and k are like a placeholder for something that has to come. And I don't know some weird thing about how it's intentionally misspelled. So that a copy editor will catch it. And I find for me and also for my students. The biggest problem to overcome is just staring at a link page and either being afraid to write from him that is gonna fence stupid or being a procrastinating or whatever. And so I just encourage a whole lot of peaking for the sometimes a student will turn in the beginning of peace, and then they'll be like three or four paragraphs that are just like TK potatoes exchange. Found information they know to be there, and it will come it. Just isn't there yet? And so that's maybe it sounds silly. But I think there is great freedom in just being able to know that something will having the faith that once will appear there and not being so wedded to I don't know how word count or even an assignment that you get yourself sort of in a net doubt spiral about it. Just do that. And then move on when and somehow magically the words will income it's like that. So a few questions as we want things down here. The first one being what is your favorite movie that's based on a book? I would say. Going back to my Chris school reading list. I would say the great Kathy in all its interational. No. And I I think a lot of very smart people think the gasman movies are terrible. But but another one from the seventies with Robert Redford, and the pharaoh and the more recent one hundred cap rail and carrying mall again. And I see that I see they're heavy handed or whatever. But I don't care. I love them love and left them. I think it's like the world of of the world and the booze and the lust and that toughness, I just I'm in for an in for that. And then the next question is there a book or a series that you're willing to admit you, either never read or never finished?

Rachel Cohn YouTube Megan McCafferty Robert Redford Alaska John green TK copy editor Jessica Kathy Chris school
"rachel cohn" Discussed on 710 WOR

710 WOR

07:39 min | 2 years ago

"rachel cohn" Discussed on 710 WOR

"Nicotine nicotine is an addictive chemical. Don't load now, but it's going to be tax season. Pretty soon. You've probably gotten those tax reports your 4._0._1._K's your mutual funds W twos. And all those other ws. They've all come in the mail and pretty soon. It's time to put it all together and pay your taxes and cry and cry and to make you cry even more we've invited wwl LARs Alice Stockton Rosellini to tell us about the new tax changes here in New York and New Jersey. Less deductability is the guests the watch word, right? Well, it depends. It depends on where you are. It depends on how much money you make. But let me tell you this. I if you're sitting there going, where's my tax returns? Like, I've never done that they're online, and I don't know how many times, you know. 'cause I have several things that I do outside of here even these W twos for the NBC radio news network. You have to go online. That's right. We got. Nothing's getting mailed. Okay. So that's number one. There is nothing coming in the mail. But the the cornerstone of this this new tax law was to lower the corporate income tax rate from thirty five to twenty one percent. So that applies to your c corporations which is like Apple IBM G. It's just like somebody somebody walked up. You Alison said we're going to lower your housing costs by a third. We're going to lower your mortgage by a third your electricity by a third in all those types of things that that would have a dramatic impact on your lifestyle that is a CPA Rachel Cohn. And he says, well, it increases the earning of all public companies most companies in the US about ninety percent are LLC's R S corporation. So it doesn't mean it's the big guys the big big guys LLC's. Don't get it. LLC's? Do not get it. However, some senators perked up and said, wait, wait, wait. We have to do something for LLC's S Corp. So they create. Created something called the one ninety nine a deduction. I hope you're taking notes and basically nowhere. One ninety nine is. So go ahead. Yeah. You get you. Get a deduction of twenty percent of whatever your prophet is a little bit. Yeah. That's what I think they carve that out mainly for real estate. So the the real estate sector I were screaming, they targeted them. So that yes. Say one hundred thousand dollars. Well, twenty percent is not going to be taxable. Right. The only tax on eighty right? Yeah. I guess that'll be good for some people. Right. Ninety nine dollars. All right. So a lot of people are upset about that ten thousand dollar cap on the state tax, and the, you know real estate tax deduction. Yeah. Let's say his property taxes in New York or twenty five thousand and he pays state income tax three hundred thousand so that's three hundred twenty five thousand dollars deduction on his federal return you stable duck. No more only ten thousand that would hurt. Mr. Mr. he was a three hundred thousand dollars in taxes. Mr. hey, so Mr. he. Millionaire's? He's doing. Actually, Ray says he goes that's not really when you think of if you live in New York City, it's really not that much. And I'm just like, okay. Whatever. Generally, speaking, most people will pay a lower tax under the new law because of a combination of lower tax rate larger standard deductions and an increase child tax credits. So for example, standard deductions in two thousand seventeen where sixty three hundred for a single person twelve thousand for a joint filing, married. Couple ninety three hundred for heads of households. Okay. Now in two thousand eighteen the standard deduction deduction is twelve thousand for single taxpayers twenty four thousand for married couples and eighteen thousand for heads of households. So they doubled all of that. So for the average Joe the average middle class guy or upper middle class guy that that's going to work out for them. Another big complaint, though is that while we're cutting taxes, we're contributing to the national debt because we haven't cut spending technically the United States is calling into into debt. More just isn't generating enough money. Now, the Republicans go for the fury of trickled down. Meaning, hey, if you make companies make more money because they pay less tax. They'll be able to hire more people do more things. And in the end, they'll be more successful, and the government will get more tax money in the end some other way. But there are many people that don't believe in the trickle sounds like Ronald Reagan to me, right, trickle down Reagan supported the trickle down. He thought it worked. Yes. In the economy was booming under Reagan and know, we're not doing so bad right now under Trump, right? So let's say, you know, we just have to wait and see. So anyway, the elimination of the twenty three hundred dollar deduction for every family member that got some people upset, but that's not necessarily a bad thing. Either. Well, if you had a lot of kids a bad thing. Well, deduction reduces your income, I'm which your taxes calculate a credit is something you receive after you calculate the tax. So this is this is this is how rare explains credits are far better than a twenty percent tax bracket, and you get a five thousand dollar deduction, reducing your tax by thousand dollars. But if you get a five thousand dollar tax credit, you reducing your tax by five thousand dollars. So you make sense. Yes. So you no longer get exemptions for your kids under the new tax law. But you do get a child tax credit. So as long as the kid is under sixteen you get a two thousand dollar credit. So that comes right off right off your income. You didn't get into the alternative minimum tax with this guide. Now, I hate that. I hate nine stand alternative minimum tax. Did they I didn't even realize did they change that? I thought they left that the same. I think it's been modified a little bit. That's one of those killers that gets here when you least expect that. Yeah. Just you know, you think you got a lot of deductions, and you can write off a lot of stuff in this. Sorry about that. That was too much. You're gonna have to pay the alternative minimum tax, right, which I've run into because I don't know about you. I. What will we do? Well, less now because we can't deduct the onerous property taxes, right and the income taxes that we pay and the thing is is they make it sound like well, all of those rich people in New York and New Jersey and Cal we're not rich. We just have really high property taxes. But I had to ask him this. Rachel Cohn was an accountant for Donald Trump, Donald Trump was first starting out. And I said, so if Donald Trump was still living in Trump Tower. How would he you know, how would the tax law affect him? They raise the state tax deduction to eleven million of a person. So that would help him out there. But when he was a resident of New York and he had high state tax liabilities. So he would probably be hurt onto this fax. Interestingly enough, but now he's a resident of Washington DC, I suppose because he spent most of his time in Washington. It gets away. We'll never know. I I really honestly whether you like him or not I really wanna see his tax nothing there to see. Thank you. Wwl walks in Seaney, giving.

New York Donald Trump Rachel Cohn New Jersey United States Ronald Reagan nicotine Trump Tower Alice Stockton Rosellini Washington NBC
"rachel cohn" Discussed on 710 WOR

710 WOR

07:35 min | 2 years ago

"rachel cohn" Discussed on 710 WOR

"Nicotine nicotine is an addictive chemical. Don't look now. But it's gonna be tax season. Pretty soon. You've probably gotten those tax reports your 4._0._1._K's your mutual funds W twos. And all those other ws. They've all come in the mail and pretty soon. It's time to put it all together and pay your taxes and cry and cry and to make you cry even more we've invited wwl LARs Stockton Rossini to tell us about the new tax changes here in New York and New Jersey. Less deductability is the guest the watch word. Right. Well, it depends. It depends on where you are. It depends on how much money you make. But let me tell you this. I if you're sitting there going, where's my tax returns? Like, I've never done that they're online, and I don't know how many times, you know, because I have several things that I do outside of here even these W twos for the NBC radio news network. You have to go online. That's right. Got. Without getting mailed. Okay. So that's number one. There is nothing coming in the mail. But the the cornerstone of this this new tax law was to lower the corporate income tax rate from thirty five to twenty one percent. So that applies to your c corporations which is like Apple IBM g it's just like somebody somebody walked up to you Alison said we're going to lower your housing costs by a third we're going to lower your mortgage by a third your electricity by third all those types of things, and that that would have a dramatic impact on your lifestyle that is a CPA Rachel Cohn. And he says, well, it increases the earning of all public companies most companies in the US about ninety percent are LLC's R S corporation. So it doesn't mean it's the big guys get it. Right. The big big guys LLC's. Don't get it. LLC's? Do not get it. However, some senators perked up and said, wait, wait, wait. We have to do something for LLC's an S Corp. So they. Created something called the one ninety nine a deduction. I hope you're taking notes and basically one ninety nine is. So go ahead. Yeah. You get you. Get a deduction of twenty percent of whatever your prophet is. Good. Yeah. Yeah. That's what I think they carve that out mainly for real estate. So the the real estate sector, I they were screaming they targeted them. So that yes, say you make one hundred thousand dollars. Well, twenty percent is not going to be taxable. Right. The only tax on eighty right? So I guess that'll be good for some people. Right ninety nine dollars. All right. So a lot of people are upset about that ten thousand dollar cap on the state tax, and the, you know real estate tax deduction. Yeah. Let's say his property taxes in New York or twenty five thousand and he pays state income tax three hundred thousand so that's three hundred twenty five thousand dollar deduction on his federal return. You stables duck. No more only ten thousand that would hurt. Well. Yeah. Well, yeah. Mister, he Mr. he was at three hundred thousand dollars in taxes. Mr. he, so, Mr. millionaire. He's he's doing it actually race says he goes that's not really when you think of if you live in New York City, it's really not that much and I'm just like, okay. Whatever. Generally, speaking, most people will pay a lower tax under the new law because of a combination of lower tax rate larger standard deductions and an increased child tax credits. So for example, standard deductions in two thousand seventeen where about sixty three hundred for a single person twelve thousand for a joint filing, married. Couple ninety three hundred for heads of households. Okay. Now in two thousand eighteen the standard deduction deduction is twelve thousand for single taxpayers twenty four thousand for married couples and eighteen thousand per heads of households. So they doubled all of that. So for the average Joe the average middle class guy or upper middle class guy. That's gonna work out for them. Another big complaint, though is that while we're cutting taxes, we're contributing to the national debt because we haven't cut spending Kirk McLean. The United States is calling into into debt. More just isn't generating enough money. Now, the Republican. Go for the fury of trickled down. Meaning, hey, if you make companies make more money because they pay less tax Bill be able to hire more people do more things. And in the end, they'll be more successful, and the government will get worse tax money in the end some other way, but there are many people that don't believe in the trickle like Ronald Reagan to me, right, trickle down Reagan supported the trickle down. He thought it worked. Yes. In the economy was booming under Reagan. And you know, we're not doing so bad right now under Trump, right? So let's see what you know. We just have to wait and see. So anyway, the elimination of the twenty three hundred dollar deduction for every family member that got some people upset, but that's not necessarily a bad thing either. Because of you don't have if you have a lot of kids, it's bad thing. Well, deduction reduces your income, I'm which your taxes calculate accredited something you receive after you calculate the tax. So this is this is this is how rare explains credits are far. Better than a twenty percent tax bracket, and you get a five thousand dollar deduction, reducing your tax by a thousand dollars. But if you get a five thousand dollar tax credit, you reducing your tax by five thousand dollars. So you saying makes sense. Yes. So you no longer get exemptions for your kids under the new tax law. But you do get a child tax credit. So as long as the kid is under sixteen you get a two thousand dollar credit. So that comes right off right off your income. You didn't you didn't. Didn't get into the alternate. Minimum tax with this, Mike. God. No. I hate that. I hate that stand alternative minimum tax. Did they I didn't even realize did they change that? I thought they left that the same. I think it's been modified a little bit. That's one of those killers that gets here when you least expect that. Yeah. Just you know, you think you've got a lot of deductions, and you can write off a lot of stuff and this sorry about that. That was too much. You have to pay the alternative minimum tax, right, which I've run into because I don't know about you. I. What will we do? Well, less now because we can't deduct the onerous property taxes, right and the income taxes that we pay and the thing is is they make it sound like well, all of those rich people in New York and New Jersey and Kelly, we're not rich. We just have really high property taxes, but I had to ask and this Rachel Cohn was an accountant for Donald Trump, Donald Trump was first starting out. And I said, so if Donald Trump was delivering in Trump Tower, how would he you know, how would the tax law affect him? They raise the state tax deduction to eleven million of a person. So that would help him out there. But when he you know, he was a resident of New York and he had high state tax liabilities. So he would probably be hurt onto this tax. Enough. But now, he's a resident of Washington DC, I suppose because he spent most of his time in Washington. Gets away. We'll never know. I really honestly whether you like him or not I really wanna see his tax nothing there to see..

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