White Hat Income
Olivia earns $25,000 over 3 months. What is her annual income?
What is $100,000?
$25,000 X 4 = $100,000What deduction can a senior claim that others can't?
Marcus gets $1000/month in unemployment. What is his annual income?
What is $12,000?
$1000 X 12 (months) = $12,000Olivia lies on her HCV application. What happens now?
She is denied from the program for Title 18
Huck makes $2613/week. What is his average monthly income?
What is $11,323?
$2613 X 52 (wks/yr)= $135,876$135,876 / 12 (mts/yr) = $11,323
True or False: All childcare expenses are deductible?
FALSE
CC is only deducted for children ages 12 and under regardless of disability
Abby received $1200 in verified child support. Should this be counted in determining her annual income?
Yes
Fitz's income changes mid-year. What do you do?
Mellie earns $3500/month in verified alimony. Should this income be counted in her rent determination?
Yes
Cyrus is 67 years old and pays $200/month in prescriptions. Does he qualify for a deduction?
Yes; medical deduction
Huck gets paid under the table. How should that be handled?
He would need to fill out a self-certification form
No. What she's claiming in child care is more than what she earns from her job.
Quinn works 25 hours/week at $22/hr. What is her annual income?
What is $28,600?
25 X $22 = $550
$550 X 52 (wks/yr) = $28,600
Quinn pays $175/week for childcare and earns $61K annually. What is her childcare deduction?
What is $9,100?
$175 X 52 (wks) = $9100
Olivia starts her own firm. How do you calculate her self-employment income?
Calculate based on her self-employment form
Use her tax documentation
Mellie withdraws $5000 from her savings account. Does this count as income?
No.
Fitz earns a $4000 quarterly bonus. How is it calculated annually?
$4000 X 4 (quarters) = $16000