Hi folks,
I'm checking out the school lunch options and seeing that eligibility for reduced lunch is in the neighborhood of our annual income - depending on how you slice it and what year it is. We are not FIREd but frugal, having 'downshifted' to a better quality of life, after years of grinding it out, both parents working, long daycare days, non-optional but pointless travel, extreme stress, etc.
Some years we have Roth conversions. Some years not. Some years we have capital gains. Some years not. All based on what makes sense at the time, short and long term planning, hoping to have enough money to squeak through without going back to what was a harried life and, long term, not doable. Dark days will come on their own, there's not much use in bringing them on yourself.
The school lunch forms ask for income and you can enter it as biweekly, monthly, annual, etc.
To me, capital gains would count as income, but only fit in the annual category, so I should try to fill out the annual category. Of course it may not exist next year...
Also, to me, Roth conversions would NOT count as income. They are taxable this year, but they were earned in another year. If I were filling out the form in a prior year I would have 'declared' it then. No money coming in - this is an accounting allowance Congress set up to get prepayments of taxes coming in. Again, may not exist next year.
1) Any arguments for or against my ideas of what is income?
2) Any suggestions about whether to 'declare' them as annual or some other way?
3) For a school year such as 2022-2023, use 2021 income because it's settled? 2022 so far or estimated? 2023 projected?
Thanks folks, I think this is interesting, hope you do too, and am hoping to hear some interesting responses. I appreciate all the useful stuff you put up here.
PS I understand the range of viewpoints between 'people should not use benefits if they have other options', and 'benefits should be as universal as possible', and I fall toward the latter, understanding that keeping people of all means in touch with what is offered - especially with a double benefit (to agriculture, such as it is) - has the ability to sustain political support. I understand if you do not agree, but in this, my post under sharing, teaching, and learning, I am, completely respectfully, not really looking for help to rehash that particular issue. I'm looking more for a logical basis for filling out the form, not ethical arguments not to fill it out at all. But I appreciate those arguments where they exist throughout the forum!
