Living Stingy: 10/01/2019On by
Food Stamps are one particular Government Programs made to help folks out. The qualifications for Food Stamps are liberal quite, in my opinion. In theory, I possibly could be eligible for them, easily restructured my finances. This has not been a good season for me, in terms of economics.
I didn’t work very much, by choice more than anything else probably. But 2013 is a different story, as I have already been promised by litigant a pile of work, perhaps enough to place me back in that vaunted six-figure salary range. And that is the fun part to be self-employed. 200,000 the next. And that is why, if you want to start a business, it will pay never to saddle yourself with a great deal of pointless personal debt or expenses. And that is one reason I started this website. Cutting stupid personal expenses like Cable TV and trendy mobile phones, is not optional for the self-employed, it is vital.
I surely got to thinking, though, “Gee, my income this season was so crappy, I’d probably qualify for food stamps!” As well as the scary thing is, well, I would come – even though in some recoverable format I am a Millionaire close. How can this be so? Well, if you have your money tied up in your own home (check) and IRA (check) and drive older cars (check, check) and also have a minimal annual income (check) you might just meet the criteria.
Let’s look at the criteria on the USDA SNAP site. They aren’t called “food stamps” anymore, however the Supplemental Nutrition Assistance Program (SNAP) plus they don’t hand out stamps any more, but a debit card. Would I be eligible for Food Stamps? 3250 in countable resources if at least one individual is age 60 or older, or is disabled. The procedures for managing vehicles are driven at the condition level.
States have the choice of substituting the vehicle rules found in their TANF assistance programs for SNAP vehicle rules when it leads to a lesser attribution of household assets. A number of States exclude the entire value of the household’s primary vehicle as an asset. In States that count the worthiness of vehicles, the fair market value of every licensed vehicle that is not excluded is evaluated.
Currently 39 States exclude the worthiness of most vehicles entirely. 11 States totally exclude the value of at least one vehicle per household. 4,650) from the fair market value to determine the countable resource value of a car. For more information concerning State specific vehicle plan, talk with the State company that administers the SNAP program. OK, this is a no-brainer.
First, I am 53, so while the 60-or-older limit doesn’t apply, I will be there pretty soon. 2000 in the bank account is easy to swing. I keep only very much in my bank-account anyhow generally, as I put any surplus into investments. 500,000, and is paid for. A half-million dollars and it doesn’t get counted at all!
Now, I have a big sum of money in retirement plans also. That don’t count, either! But think about my cars? Well, there it gets tricky, as you have to check out State Rules to find out more. For Georgia, the rules can be found as here, enough oddly, a WORD document (they don’t really have Adobe here in Georgia). The record is silent about cars, however. 10,000 each, I might actually qualify.
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Never mind they are in like-showroom condition and are both BMWs, under the rules, I might enter actually! And of course, this type of things is ripe for fraud. 39 States don’t even count number cars – so you might drive to the SNAP office in a Ferrari, and it wouldn’t make a difference.
11 States exclude one car per home. 4650 exclusion, which sort of places a damper on the party, don’t it? So, from what I could see, the Resources section isn’t a real issue, for a Millionaire attempting to collect food stamps. But wait around, there’s more! At first, this seems just like a toughie. In the end, if you have a million bucks in purchases and possessions, not have a lot of income? And no Yes. Much of this income is not realized and thus not taxable income.