Posted 42 mins ago
DH is a student on the GI Bill. I work part time in the evenings to avoid paying for childcare and take care of our 4 month old the rest of the time. Health insurance costs just about everything I make so I looked into state healthcare and learned that our family would be financially better off if I quit my job. Between health care and food stamps, we'd have more coming in than my job provides, but with my job we are $200 a month away from qualifying. I'm working because we need the income even though I hate leaving my baby. Is it crazy to quit my job? This might be more of a moral question than a financial question.
Posted 38 mins ago
I'm not touching the morality/ethical part of this.
However, if your job qualifies you for the earned income credit, you might find that your tax refund is significant with you working part time.
And if you weren't working and have no earned income, then you might not get that credit.
Does anyone know how the GI bill is treated for tax purposes and the EIC? I really don't know if it's treated like earned income or if it's treated more like a scholarship.
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j -- with 4 tweens and a new little one due Feb 2014
Concerned about Family Finances? Join the conversation.
Posted 35 mins ago
This should be interesting.
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~Sarah
~Sarah
Jesus Loving, CDing, Non-vaxing, semi crunchy Momma of 3- and on the road to being debt free!
Posted 35 mins ago
I'd like to know as well, but am guessing it is not treated as earned income just like the housing allowance for military members is not.
Posted 28 mins ago
GI bill is not taxable and not reportable except for purposes of claiming education related credits.
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DS 06/20/2010
DD 03/05/2012
( o ) ( o ) and counting
Posted 26 mins ago
I used part GI bill part tuition assistance in 2012. The college will give out a 1099 for taxes and I actually got quite a bit back. I think if I recall right it was treated more like a scholarship than income.
When I hit my 10 yr mark with the military and got that raise it put me over the limit for WIC by about $60. I no longer qualified. I was not about to dump my career just for $200 a month in milk, eggs, cheese, bread, peanut butter, juice and cereal. We used more of the milk than anything else but I just tightened up in other areas and I've done ok without it.
When I hit my 10 yr mark with the military and got that raise it put me over the limit for WIC by about $60. I no longer qualified. I was not about to dump my career just for $200 a month in milk, eggs, cheese, bread, peanut butter, juice and cereal. We used more of the milk than anything else but I just tightened up in other areas and I've done ok without it.
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Our angel Cameron watches over us. Mikey 9/4/08 and sister Maylani Christine joined us on 8/22/11
Mikey's Blog http://autismmommy08.wordpress.com/
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