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« Last edited by YitzyS on April 29, 2021, 09:29:16 AM »

Author Topic: Fuzzy Math - Personal Finances In The Frum World  (Read 10884 times)

Offline yitzgar

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #140 on: April 28, 2021, 11:37:13 PM »
FSA has contribution limits.
Oh, so you're maxing out the FSA.
I think whatever percentage the deductibility is, it's only up to $600 per kid (maybe 2020 was different)

Offline etech0

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #141 on: April 28, 2021, 11:42:30 PM »
How much you're saving by not paying for commercial insurance through your job or the marketplace.
Can't get marketplace insurance if you qualify for medicaid
Workflowy. You won't know what you're missing until you try it.

Offline ExGingi

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #142 on: April 28, 2021, 11:49:33 PM »
Can't get marketplace insurance if you qualify for medicaid

-1

But why would you?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline skyguy918

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #143 on: April 29, 2021, 12:03:25 AM »
Oh, so you're maxing out the FSA.
I think whatever percentage the deductibility is, it's only up to $600 per kid (maybe 2020 was different)
Max amount of expenses that is deductible is 6k (for 2 or more kids). If you fund your DCFSA to the 5k max you can still get credit as a percentage of the extra 1k on your taxes.

Offline etech0

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #144 on: April 29, 2021, 12:07:28 AM »
-1

But why would you?
If you want to see a doctor who doesn't take medicaid. IDK about NY but in NJ if you try to get marketplace insurance they won't give it to you if you qualify for medicaid
Workflowy. You won't know what you're missing until you try it.

Offline ExGingi

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #145 on: April 29, 2021, 12:11:54 AM »
If you want to see a doctor who doesn't take medicaid. IDK about NY but in NJ if you try to get marketplace insurance they won't give it to you if you qualify for medicaid

Don't you get an option to check off whether or not you want financial assistance?

Also, what if you put down a higher income?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline YitzyS

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #146 on: April 29, 2021, 08:08:42 AM »
wiki added
Monkeys don't fly unless you put them on airplanes

Offline Lurker

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  • Location: As always, silence is NOT an admission of agreement on DDF. It just means that people lack the stamina to keep on arguing with made up "facts", illogical arguments, deceiving statements, nasty and degrading comments, and fuzzy math. - @yelped
Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #147 on: April 29, 2021, 09:18:11 AM »
wiki added

Can you fix the link to shorten it up? Makes my mobile browser all funky.
Failing at maintaining Lurker status.

Offline YitzyS

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #148 on: April 29, 2021, 09:29:48 AM »
Can you fix the link to shorten it up? Makes my mobile browser all funky.
This better?
Monkeys don't fly unless you put them on airplanes

Offline Lurker

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  • Location: As always, silence is NOT an admission of agreement on DDF. It just means that people lack the stamina to keep on arguing with made up "facts", illogical arguments, deceiving statements, nasty and degrading comments, and fuzzy math. - @yelped
Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #149 on: April 29, 2021, 09:33:18 AM »
Failing at maintaining Lurker status.

Offline CountValentine

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #150 on: April 29, 2021, 09:33:41 AM »
wiki added
I would fill it out but would be to easy to spot.  :)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline YitzyS

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #151 on: April 29, 2021, 09:34:42 AM »
I would fill it out but would be to easy to spot.  :)
I'm flattered that after these years on DDF, you identify as frum  ;D
Monkeys don't fly unless you put them on airplanes

Offline CountValentine

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #152 on: April 29, 2021, 09:38:09 AM »
I'm flattered that after these years on DDF, you identify as frum  ;D
That is what is great about this country. I can identify any way I want.
Disclaimer: Not a political statement.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline etech0

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #153 on: April 29, 2021, 09:48:52 AM »
Don't you get an option to check off whether or not you want financial assistance?

Also, what if you put down a higher income?
AFAIK either way you can't purchase it through the marketplace. You can go directly to the insurance company (eg: horizonblue.com) and purchase it there without the financial assistance.

IDK but what happens once they look at your tax returns to confirm?
Workflowy. You won't know what you're missing until you try it.

Offline joeberg

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #154 on: April 29, 2021, 09:49:19 AM »
I meant off the books income. Perfectly utilizable for living expenses, but no taxes paid means doesn't reduce program eligibility or get a 40% haircut.

I'm not condoning such a notion in the slightest. I just don't think any anonymous full economic portrait can be complete without such an option.
Please don't!!

Offline gozalim

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #155 on: April 29, 2021, 10:32:29 AM »
What's non taxable? Do you mean UI? Or you mean money that is being diverted to a retirement/investment account? If the latter, the question should be "how much income is sent straight to savings" or something like that. Because many won't consider part of their monthly income for the equation at hand since they can't access it now.

Good idea.
parsonage

Offline ExGingi

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #156 on: April 29, 2021, 10:47:26 AM »
I'm flattered that after these years on DDF, you identify as frum  ;D

Never heard the expression פרום איז א גלח?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Fish Tank

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #157 on: April 29, 2021, 10:47:50 AM »
Can't get marketplace insurance if you qualify for medicaid
Therefore what? He can still compare the amount that he is saving even though he isn't eligible.

Offline YesThatsMe

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #158 on: April 29, 2021, 10:53:21 AM »
Form wiki is missing Life Insurance, Yom Tov & clothing costs (Pesach, Tishrei, Chanuka, Purim), Simcha's (any type), Work Bonuses, Tax Refund (or payment).

Offline ExGingi

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Re: Fuzzy Math - Personal Finances In The Frum World
« Reply #159 on: April 29, 2021, 11:02:04 AM »
Form wiki is missing Life Insurance, Yom Tov & clothing costs (Pesach, Tishrei, Chanuka, Purim), Simcha's (any type), Work Bonuses, Tax Refund (or payment).

Don't forget "Non-Taxable Stimulus payments", Non-taxable forgivable PPP.

Tax refund or payment is really meaningless, as it's just a matter of how much was prepaid in taxes. What matters are the tax credits, especially the refundable ones.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan