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Old 05-22-2024, 09:52 AM
 
1,626 posts, read 3,795,673 times
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Do things like "controlling income to get ACA tax credits" count as "frugal living" or is it something else?

Just want to know if this is a good place to ask questions about getting things free that some might find objectable
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Old 05-22-2024, 02:25 PM
 
Location: on the wind
23,540 posts, read 19,300,418 times
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Suspect the answers (and the feedback) you get here will depend on how ethical, moral, or legal other members feel your attempts to "work the system" are. There are some members here who wouldn't bat an eye at anything, including theft. As long as they benefit from it, all's right with their world because their world has a population of 1.
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Old 05-22-2024, 03:54 PM
 
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Is it unethical for a person to take a job as a preschool teacher when they are qualified to be an Accountant, instead? Even if it means that they can spend more time with their own children?

Is it unethical for an ER doc to stop working at the hospital and instead teach a few classes at the community college so that they don't have to work overnight shifts, on weekends and on the holidays while their kids are young?

I don't think so. Obviously, they could earn more money but they opt not to for quality of life issues.

An example of what I think falls into the unethical category: Trust fund baby lives in a mansion owned by the trust and takes a small income from said trust as "the gardener". Trust fund baby earns SS credits and qualifies for low income health insurance rates via ACA.

Last edited by springfieldva; 05-22-2024 at 04:03 PM..
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Old 05-22-2024, 04:02 PM
 
107,287 posts, read 109,648,178 times
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Quote:
Originally Posted by sonofagunk View Post
Do things like "controlling income to get ACA tax credits" count as "frugal living" or is it something else?

Just want to know if this is a good place to ask questions about getting things free that some might find objectable
our share of taxes is the lowest amount we can get them down to using the tools and laws available to us .

anything that allows us to keep more of what we earn by these methods is fine in my book .

i wish i planned better better for an aca rebate
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Old 05-22-2024, 06:07 PM
 
Location: Happy
2,591 posts, read 2,791,915 times
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Income caps were removed from ACA policies for several years now and that will stay in place until the end of 2025. Just about everyone gets credit until the caps come back.
If you know the rules, you can better play the game. Same thing applies to taxes. You are only obligated to pay as much as you owe.
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Old 05-22-2024, 07:32 PM
 
Location: Arizona
8,313 posts, read 8,727,542 times
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Quote:
Originally Posted by sonofagunk View Post
Do things like "controlling income to get ACA tax credits" count as "frugal living" or is it something else?

Just want to know if this is a good place to ask questions about getting things free that some might find objectable
Nothing is free. Someone somewhere is paying for it.

Most people try to keep increasing their income not keep it low for the freebies.

I don't feel what you are doing is frugal or right.
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Old 05-23-2024, 01:33 AM
 
107,287 posts, read 109,648,178 times
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planning for an aca if retiring does not mean keeping income low ..it’s taxable income that is kept low .

had i planned better i could have had six figures in income from roths , zero capital gains brackets etc and gotten aca rebates
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Old 05-23-2024, 07:47 AM
 
1,626 posts, read 3,795,673 times
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Quote:
Originally Posted by mathjak107 View Post
planning for an aca if retiring does not mean keeping income low ..it’s taxable income that is kept low .

had i planned better i could have had six figures in income from roths , zero capital gains brackets etc and gotten aca rebates
well I am also thinking about FSASA and that is why I was talking about income (it considers roth withdrawals)
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Old 05-23-2024, 07:55 AM
 
Location: southwestern PA
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"working the system" has the connotation that they exploit something to their advantage , often dishonestly.
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Old 05-23-2024, 08:31 AM
 
Location: North Idaho
32,757 posts, read 48,442,035 times
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If you are working the system legally, having found benefits that you can qualify for, then good for you. If you are lying, cheating, and deceiving in order to get benefits that you have no right to, someone will call you out for it.

Example, if you really need a service dog, then fine. If you don't need a service dog and buy "papers" on the internet to get special privileges for your pet, then some one will say something about it.

If you honestly qualify for food stamps, then that's perhaps something you should get for yourself. if you lie about your income and circumstances in order to get food stamps, its not going to be all that acceptable here.

If you find a tax loophole that you qualify for, then take it. Just don't falsify documents to take a deduction that isn't legal for you to take.

Does that help?
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