We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
When you calculate a household's annual income, you may encounter a household member who has money in a pension fund or retirement account. It's important to know how to treat this money. But HUD rules on what to do can get confusing.
How you treat money from pension funds differs from how you treat money from retirement accounts, such as 401(k)s and individual retirement accounts (IRAs). We'll help you sort out the rules on both so you can properly ca...
Most managers find it easy to calculate the allowance for child-care expenses when the care allows the only adult member of the household to work. The child-care expenses are simply deducted from household income up to the amount of the member's earned income. But calculating the allowance isn't always so straightforward. For example, child care may allow the household member to go to school as well.
To help you in this and other special circumstances, her...
When you are calculating household income, a “freelancer” presents special challenges. Freelancers are self-employed, and their income often can be sporadic. Paragraph 5-5 of the HUD Occupancy Handbook 4350.3 considers such income to be “irregular” and provides some examples, such as a roofer who works seasonally and a typist who gets jobs through a temp agency.
The Handbook doesn't state specifically how to estimate a freelancer's ...
RSS