Kokua Line: Do Disability Payments Count as Tax Credit Income?

Qquestion: Regarding the Oahu property tax break for low-income residents (808ne.ws/818kline), does SSI count as income?

answers: Yes. Supplemental security income, periodic Social Security benefits, veteran’s disability benefits, and other types of income all count toward the $60,000 income limit for this tax credit, which also has non-income eligibility requirements. Here are the key rules for the Oahu homeowner property tax credit, per the Honolulu County application and accompanying booklet:

>> The applicant must have a home exemption for the property for both tax years 2022 and 2023. A home-ownership exemption means the home is owner-occupied.

>> None of the owners of the house can own any other property anywhere.

>> The total combined gross income of all property owners for calendar year 2021 must not exceed $60,000. Gross income includes taxable and nontaxable income, including wages, interest, dividends, business gains/losses, capital gains/losses, annuities and annuities, IRA distributions, security deposits, SSI benefits, Veterans Disability Benefits, alimony, rents/ Royalties, debt write-offs, gambling winnings and other income.

>> No titleholder may have filed a fraudulent application or testified to false information with the intent to defraud the city or evade payment of property taxes.

The value of this loan varies depending on the value of the property. Application deadline is September 30th. Download the application below 808ne.ws/rpcapp.

Q: In the Sunday paper you wrote about a shredding event being hosted by AARP next month. I looked at the link and could only find neighboring islands but not the Oahu/Aiea event you mentioned. could you clarify that I have a pandemic’s worth of paper to shred.

A: Registration for the Oahu event filled quickly after Sunday’s column was published, and the registration link has therefore been removed, an AARP spokesman said. As of Tuesday’s deadline, only spots remained for the Hilo and Wailuku events. For more information, see aarp.cvent.com/hifraud.

With so much paperwork to shred, you might want to buy a personal shredder for home use, or try a company that offers secure shredding for a fee, such as B. the UPS Store or FedEx; Check online or call ahead to confirm your preferred location offers the service.

Q: Is money made from apps like TikTok taxable? If not, why? If yes how?

A: Yes, if an income limit is reached. “You must file a tax return if you have net self-employment income of $400 or more from gig work, even if it’s a side job, part-time, or temporary,” including through a digital platform like a website or app the tax office. This includes creating content for TikTok, Instagram, YouTube and other platforms, as well as income paid in any form including cash, property, goods or virtual currency. You can reduce your tax liability by deducting legitimate business expenses related to the production or marketing of your content.

If you’re paid by TikTok through its Creator Fund for independent contractors, you’ll receive a 1099 through the app; the information is also reported to the IRS. Other brands and companies that pay you can also issue 1099 forms, which are usually mailed out by the end of January.

However, you’re responsible for paying any applicable taxes even if you don’t receive 1099 forms, the IRS says. Read more below irs.gov/businesses/gig-economy-tax-center.

Online tax filing software websites also provide information on this topic. See a relevant blog post by TurboTax, 808ne.ws/tiktax.

Write to Kokua Line at Honolulu Star-Advertiser, 500 Ala Moana Blvd., Suite 7-500, Honolulu, HI 96813; call 808-529-4773; or email [email protected].