First let me say thanks to everyone in this community that has assisted me with my taxes!
I now have yet another question. It’s not a question about any tax return but rather a question about the reported income and taxation system.
I am retired and attempting to live on my Social Security and a very small pension. The two together are a meager existence but it is about $200 over the limit to qualify for any assistance.
Does anyone have an idea of how I could reduce my before tax income? That may not be the right terminology but it would be wonderful if I could reduce my reported income.
Is there any way I can set aside money for the future, like for assisted living or funeral expenses?
For instance, I now pay my Medicare part B premium of $164.90 a month and it seems as if there is a never-ending stream of co-payments. If I made 200 dollars less a month I would qualify for assistance and not have to pay that expense. That is only one of many things I am shut out of another big one is housing.
When I was still working there were options, like a flex fund but what can I do now that I am retired.
Any ideas or assistance will be greatly appreciated.
