Just learned that the US Trustee’s Office is issuing new median income numbers effective May 1st. They are going up for all household sizes. This is a good thing.<\/p>\n
Please keep in mind that I’m only talking here about the figures for Minnesota.<\/p>\n
For a household of one, the present number is $46,161, but after May 1st it will be $47,618. For a household of two it goes from $61,170 to $63,101. For household of three it increases from $71,784 to $74,050, and for household of four it goes from $84,251 to $86,910.<\/p>\n
For every additional family member in addition to four, add another $7,500.<\/p>\n
I thought right away of one person who I had just spoken with who was discouraged over being just a little over the median. So I called that person just now with the news that now the family is probably a bit under the median.<\/p>\n
In case you are wondering, the big deal is that as long as your income is under the median, you can avoid being subjected to what can sometimes be a very difficult means test.<\/p>\n","protected":false},"excerpt":{"rendered":"
Just learned that the US Trustee’s Office is issuing new median income numbers effective May 1st. They are going up for all household sizes. This is a good thing. Please keep in mind that I’m only talking here about the figures for Minnesota. For a household of one, the present number is $46,161, but after … <\/p>\n