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Who'd have thought that defrauding the government all those years could have come back to bite them in the rear. Lesson learned to future readers of this thread to report what you actually make every year. My biggest problem with our tax code in this country is how easy it is for small business to cheat the system then expect us to pick up the tab when it goes wrong during retirement years.
If your biggest problem with our tax code is how it treats small businesses owners I don't think there is a rational way to engage with you.
I know this isn't specifically retirement oriented but this forum seems well educated on social security so i thought I'd start here.
My relative worked for her husband on the books but for a paltry reported salary for 20 years. When retirement age rolled around he had her file for social security so that it would pay for Medicare and he could drop her from their costly a la carte health insurance policy. He is years younger so not eligible for Medicare yet himself. That was at age 65 for her. Her monthly SS check has about $75/mo left over after her Medicare stuff is taken out. Not much. Now at age 67 she has been diagnosed with early onset alzheimers and needs round the clock care. She would certainly qualify for disability had she not been drawing currently. Does she have any options to switch to SSDI? (which I would imagine would pay a higher benefit?)
thanks in advance
if she needs round the clock care, try Medicaid - which would require her to be placed in a residence.
Where is her husband in all this? Isn't he financially responsible for her care? Do they have assets? It is my understanding that Medicare requires you use assets up before they will pay for nursing home. Someone else can answer that but I would think the husband has some responsibility in her care.
That's correct. We went through all this with our relative who had to go into a nursing home. One of the things we learned was that after all the person's assets are used up paying for the nursing home (and only left with $2000 in assets in the state where she lived), there would be a 5 year look back audit to make sure that her assets were not diverted elsewhere. This article explains what that's all about. Once everything checks out, they become eligible for Medicaid and the nursing home will receive their payments.
And yes, I am one of those few people in this country that doesn't mind paying my fair share. Imagine...
except your fair share is whatever you can legally reduce to the lowest level what of you have to pay . some folks are just smarter about determining what their fair share is
Last edited by mathjak107; 06-05-2015 at 10:02 AM..
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Quote:
Originally Posted by SalamanderSmile
My relative worked for her husband on the books but for a paltry reported salary for 20 years.
Quote:
Originally Posted by mathjak107
except your fair share is whatever you can legally reduce to the lowest level what of you have to pay . some folks are just smarter about determining what their fair share is
Um, what does that have to do with this thread? The OP stated in his own words that his relatives cheated the government out of due taxes for 20 years by only reporting partial income. I'm all for paying as little as possible under legal limits of the law and have a tax accountant for just that purpose. What is your point? That you're so much smarter than me? Please...stay on the topic of the thread.
Where is her husband in all this? Isn't he financially responsible for her care? Do they have assets? It is my understanding that Medicare requires you use assets up before they will pay for nursing home. Someone else can answer that but I would think the husband has some responsibility in her care.
Not Medicare -- You are thinking Medicaid. Many people enter nursing homes under Medicare, which only pays for a certain number of days. Then you spend down assets to qualify for Medicaid, but there are some protections for the community spouse. I am neither an expert on this nor am I an attorney. And some of this varies by State.
The best best is to find the local aging services provider. They will explain all available local options to the family. Or an attorney, but best to start with the aging system. No cost, and they can direct the family.
if she needs round the clock care, try Medicaid - which would require her to be placed in a residence.
Not necessarily. Depends on the State. Most (all?) states provide some types of in home supports to certain groups of Medicaid beneficiaries. They are extensive and designed to keep people in their homes as long as possible. But who they cover and what services varies by state.
You could also look for a PACE program. Program of All Inclusive Care for the Elderly. For people with Medicare and Medicaid. Might get lucky and find a local program.
Original poster -- Start with the aging system -- typically county based, but not always. And message me if you want to talk offline.
Um, what does that have to do with this thread? The OP stated in his own words that his relatives cheated the government out of due taxes for 20 years by only reporting partial income. I'm all for paying as little as possible under legal limits of the law and have a tax accountant for just that purpose. What is your point? That you're so much smarter than me? Please...stay on the topic of the thread.
just a point of information , that is all. there is a difference between what one's fair share is legally vs what it is via tax fraud or tax avoidance .
our tax system and medicaid system is based on us all paying our fair share but our fair share is left to us to figure out and is whatever we can legally figure out we have to pay as that share.
but again , we are talking legally.
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