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Are there any legal ways to reduce our Gross Annual Income?

We have heard about housing programs/lottery programs for families who meet income requirements. Our income exceeds by $450.00 and they will not have any exceptions. Some one told me that there are ways to reduce our income. Does anyone know?

I should say that at the moment of the application we have to present pay stubs.

 
Anonymous

Asked by Anonymous at 11:51 AM on Jun. 22, 2010 in Money & Work

This question is closed.
Answers (10)
  • What you present to them is based on what type of income you have. Because you only have w-2 income they will only want to see your pay stubs but if you have self employed income they will also want to see your tax returns. Start a home business- when figuring income for self employed they will use your net income from that business not your gross.

    I know in my area you have to making almost nothing to receive any benefits. Just because they are over the income limit doesn't mean they can cut expenses to live for less.
    Anonymous

    Answer by Anonymous at 7:48 PM on Jun. 22, 2010

  • Work less hours. There's really no other way. Find a different job that pays less.
    Anonymous

    Answer by Anonymous at 11:59 AM on Jun. 22, 2010

  • http://w4resistance.org/lowerincome.html
    Anonymous

    Answer by Anonymous at 12:00 PM on Jun. 22, 2010

  • It depends on what they are taking as proof of income. If they want your finished taxes, there are lots of ways. If they want paystubs or W2s, then you would simply have to make less - which may be worth it in the end.

    If they are taking your finished taxes, there are many ways to do this, start a business (Avon or Partylite for example) most of these will give you tax deductions of between $2500 an $5000... You could also keep track of ALL your donations - anything you donate is tax deductible. There are lots and lots of ways...

    But I would say first find out how they determine your income...
    SabrinaMBowen

    Answer by SabrinaMBowen at 12:04 PM on Jun. 22, 2010

  • It depends on what they are taking as proof of income. If they want your finished taxes, there are lots of ways. If they want paystubs or W2s, then you would simply have to make less - which may be worth it in the end.

    Too bad. They want pay stubs. Since this is a salary we can't op for less hours. But thanks. Perhaps someone else can find your information useful. Very interesting. Thank you for taking the time to address my question.
    Anonymous

    Answer by Anonymous at 12:12 PM on Jun. 22, 2010

  • forgot to check that it was me "op" above.
    Anonymous

    Answer by Anonymous at 12:13 PM on Jun. 22, 2010

  • So, you're trying to SCREW the system?

    Anonymous

    Answer by Anonymous at 12:49 PM on Jun. 22, 2010

  • Gross is gross as in before adjustments. The only thing you can do is make less money. If you have a business you can adjust your NET by buying things used in the business. Probably not the case for you.
    Anonymous

    Answer by Anonymous at 1:12 PM on Jun. 22, 2010

  • They have income limits in place for a reason, to help people who need it most. You make too much, bottom line. Cut your expenses if you're having a hard time making your rent now.
    Anonymous

    Answer by Anonymous at 2:17 PM on Jun. 22, 2010

  • Tax deductions do not affect your gross income.
    Anonymous

    Answer by Anonymous at 2:32 PM on Jun. 22, 2010