Comments on: Out With The Old, In With The New: Don’t Waste a Day http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Steve in W MA http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933750 Steve in W MA Thu, 30 Dec 2010 02:19:46 +0000 http://www.thesimpledollar.com/?p=6425#comment-933750 @Q5, wanting to earn the $1000 per month that you are allowed without endangering your SSI:

I would consider one of the following two options: Esatblish a Chapter C private corporation (they don’t require earnings to be distributed to shareholders) to invest on your behalf, or look into establishing some category of trust with you as the trustee and beneficiary, to hold and invest that money. Both the Chapter C and the trust are considered legal entities by themselves and are taxed as individuals at a given tax rate. If money is not distributed to you in a given calendar year then you will not have income and come up against income limits for your SSDI.

There is a minimum $400 annual tax for a chapter C corporation, I believe. I am not sure of the minimum tax status for trusts. But a good estate planning accountant could help you hash it out, or you can investigate it yourself.

Another option is to invest as an individual but only invest by buying direct shares of companies and do not sell the shares. With no sales of equities, you will have no capital gains. Tell your broker to reinvest all dividends so they are not reported as income. Again, not sure if this will work but it’s worth investigating.

Finally, determine whether there are asset limits to your SSDI benefits and don’t exceed them unknowingly.

]]> By: Golfing Girl http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933701 Golfing Girl Tue, 28 Dec 2010 20:03:51 +0000 http://www.thesimpledollar.com/?p=6425#comment-933701 I renewed my driver’s license today and got my allergy shots while I was on that side of town. My husband went ice skating with our daughter–which I consider a very good use of time–any time quality time is spent one on one with a child you are doing something very worthwhile.

]]> By: Terry http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933681 Terry Tue, 28 Dec 2010 15:32:33 +0000 http://www.thesimpledollar.com/?p=6425#comment-933681 I was offline most of the last three days and wish I had seen your blogs! I did a lot of nothing on Saturday and Sunday, feeling a little stir crazy but also enjoying not thinking about much. Yesterday (Monday) I worked a little bit, did some cleaning, etc. In the future, like this coming weekend, I am going to devote at least a couple of hours to constructive projects so I feel a little better about my time use. I did enjoy socializing over the holidays and need to do more of that — am going to work this week on my new year’s resolutions, too — One is: at least two networking events per month. Doesn’t sound like much but for me I know I can do that, and maybe more. Happy New Year Trent and Everybody!

]]> By: Kelli http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933589 Kelli Mon, 27 Dec 2010 02:27:16 +0000 http://www.thesimpledollar.com/?p=6425#comment-933589 I was in a funk this morning when I read this. When faced with a few days off I tend to create a giant mental to-do list and then get depressed when I realize I won’t accomplish all of it. Happens every time. Well, after reading today’s advice I got off my butt and enjoyed some time reading, some time skiing, and some time updating our bank accounts on our new computer. Now I’m going to do some research on insurance shopping as a result of your encouragement. Thanks!

]]> By: Michele http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933579 Michele Sun, 26 Dec 2010 22:54:37 +0000 http://www.thesimpledollar.com/?p=6425#comment-933579 We spent the morning in recovery from the festivities of yesterday…but we also sorted all the things that can be recycled or re-used for Christmas next year. That’s a good use of our day!

]]> By: Sarah http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933571 Sarah Sun, 26 Dec 2010 18:55:56 +0000 http://www.thesimpledollar.com/?p=6425#comment-933571 Great advice! My husband and I have actually spent his days off work continuing our journey of decluttering our house. We tackled the basement Christmas afternoon during the kids’ nap time and we got a lot done. It felt so wonderful and I am feeling a great deal more peace about being IN our home which is important since I spend most of my time here with the kids.

]]> By: dianne http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933570 dianne Sun, 26 Dec 2010 18:51:12 +0000 http://www.thesimpledollar.com/?p=6425#comment-933570 I kind of agree, in that I’m anxious to resume a normal schedule. But after 2 days of traveling and cooking and hosting, I need a little more than an hour to recuperate. I don’t need to nap or lay around all day but I do need to do something out of my regular routine (read fiction, which I rarely do, or start a new art project). Routine will be welcome again tomorrow.

]]> By: Lisa @ Cents To Save http://www.thesimpledollar.com/2010/12/26/out-with-the-old-in-with-the-new-dont-waste-a-day/#comment-933567 Lisa @ Cents To Save Sun, 26 Dec 2010 17:42:08 +0000 http://www.thesimpledollar.com/?p=6425#comment-933567 I will absolutely be taking a nap to day! And then after that, movie and dinner with my husband to celebrate our 32nd anniversary. :)

]]>