Anyone know at which point do more earnings not = more money

amother

Grape

Mon, Dec 18 2023, 7:07 pm

amother Anemone wrote:

Who’s saying it’s income. Maybe it’s a gift. I mean not so necessary to be sucha straight shooter. If you can never find loopholes you won’t get anywhere. You may not want to hear this but that’s how many people in society are able to survive and thrive.

I mean, a person could do whatever they want, but when an employer gives an employee a gift, legally it’s considered income. The employer is required to include the value in w-2 reporting.

If the employer chooses not to report it, that’s considered fraud.

amother

Denim

Mon, Dec 18 2023, 7:08 pm

amother Anemone wrote:

A gift of a gift card from your employer is still taxable. Lying is not the same as finding anliophole. I guess if you don't believe in Hashem then you might feel you have to lie and cheat to survive. But we known that parnassa and our ability comes from Hashem, so we don't need to lie and cheat to make money.

amother

Green

Mon, Dec 18 2023, 7:12 pm

amother Anemone wrote:

is it really worth the chilul Hashem if you get caught? I don't think we should be recommending cheating on her taxes to the op. I'm not sure what you mean by "anywhere" do you really think Hashem intends for people to lie and cheat?

amother

DarkGray

Mon, Dec 18 2023, 7:30 pm

amother Anemone wrote:

It’s calling it a loophole that’s the problem. This isn’t a loophole it’s 100% illegal. If that’s how you run your life that’s your business and if OP needs to do that to survive that’s her business and I sympathize with everyone who needs to make such choices but everyone should know the difference between what’s grey and what’s black and white and make informed decisions accordingly.

amother

Hunter

Mon, Dec 18 2023, 7:35 pm

If you get gift cards then your official salary is lower for taxes but also for your next job or salary raise.

amother

Wallflower

Mon, Dec 18 2023, 7:47 pm

amother Green wrote:

Noones being prosecuted for a few hundred dollars in gift cards. It's still not called a "loophole" - it's like saying being paid in cash is a loophole. It's not.

Getting money in gift cards = getting money in cash. Same thing.

amother

DarkViolet

Mon, Dec 18 2023, 9:39 pm

I just want to say OP, that I totally understand you. We are stuck right now because if I work more hours we lose our programs, but my increase in hours will not cover the monetary value of the programs. We have to decide if I should work the extra hours or stick to my limited work projects and still have programs. Now if my husband or I were in fields that could potentially earn big bucks than it would make sense to suffer for the in-between but for a larger greater good. Not happening. It's a choice between staying low income + programs and struggling just above poverty line.
It's really not easy. I don't like the idea of closing to not work but financially it may make more sense for us this way.

amother

Mon, Dec 18 2023, 10:10 pm

DarkViolet thanks for the validation
it's really tough
I can technically earn more but I'll need towork more hours....

amother

Cyan

Mon, Dec 18 2023, 10:40 pm

I also recently fell off Medicaid because of an increase in income and the Covid extension ending. However I get health insurance thru healthcare.gov and we still qualify for a credit so my monthly health insurance expense is not so much that it would be worth foregoing yearly raises to try to get ahead in the long term. I don’t know how it works in NY NJ but you can go on the website and make an account and see how much insurance would cost you.

amother

Springgreen

Mon, Dec 18 2023, 11:39 pm

amother DarkGray wrote:

Everyone can get child health plus you just may have to pay the full premiums. At that point it becomes a question of whether that’s cheaper than a family plan elsewhere.

This is false.

Child health plus definitely has a limit even with full premium. You can get cheapish insurance through the marketplace.

amother

Ultramarine

Tue, Dec 19 2023, 9:02 am

Child health plus should be fine for you. We pay very little each month and make a lot more than you.
My husband is on refuah healthshare and I have insurance from my employer.

amother

Whitewash

Tue, Dec 19 2023, 9:24 am

amother Springgreen wrote:

This is false.

Child health plus definitely has a limit even with full premium. You can get cheapish insurance through the marketplace.

I don't think you are right. My daughter was on child health plus and our income is 500k+. We paid a full premium of $300 something dollars but was still worth it for our particular circumstances.

amother

DarkGray

Tue, Dec 19 2023, 1:35 pm

amother Whitewash wrote:

I don't think you are right. My daughter was on child health plus and our income is 500k+. We paid a full premium of $300 something dollars but was still worth it for our particular circumstances.

That's what I thought and website doesn't list any maximum income.
https://www.health.ny.gov/heal.....t.htm

amother

Aqua

Tue, Dec 19 2023, 1:41 pm

amother Springgreen wrote:

This is false.

Child health plus definitely has a limit even with full premium. You can get cheapish insurance through the marketplace.

Are you sure? We are in NY with a $300k+ income and had no issue getting child health plus for our children as long as we paid the full premium which is about $225/month/child for Fidelis.