We have several financial and business questions this week from different members and some have asked to stay anonymous so I'm going to post the questions and a little information as to the background concerning these questions (but no identifying information).
Some of us get Medicare (USA) and are in that and other income based assistance programs. Without these programs we wouldn't be able to get prescriptions or even (some of us) have our insurance co-pay covered. There are both financial limits as to what you can make at both the federal and state level. If your part time income goes above a certain amount you not only lose the coverage from the assistance based program but have to pay back for all the coverage that was provided from the beginning of the year and/or have to pay for coverage out of pocket which is impossible on a fixed income even exceeding the part time income limit (the gap is huge).
So you can’t afford to let your income go above the limit for the state or federal plan.
Yet you know your stuff is good, and you would like to be able to sell it and you are kinda caught between the rock and the hard place.
Questions this week:
Has anyone faced the situation of wanting to sell what is created, but facing the restrictions imposed by income-based assistance programs?
Has anyone found a way to sell and stay under the limits or go above and succeed?
And if you are, please tell us, how is it going?
And our second set of questions is about the business side of your business:
How does everyone run their business legally, with as little $ as possible?
Can you keep selling at shows, if you have more than 4 years straight losses?
How--with SS# and full name, or with Tax ID? The IRS.gov lists questions to ask to see if u require tax ID, but says nothing about the 4 yr loss thing (2 accountants have said that), or selling at shows.
Looking forward to hearing your answers!
Please remember to submit your suggestions and questions to: spdychevy@gmail.com with Question in the subject line and we'll get your question up here soon!
Happy Monday to all :)
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