Merry Christmas. Resources for Those in Need
Published: Mon, 12/25/23
I know this has been a difficult year for some of my content customers. So here's a gift that has nothing to do with your website or business. The gift of information, for those who may need it.
I wanted to give you some resources to help you move past this difficult time in financial history.
The one I want to offer first is the IRS website. The IRS has provided tax inflation adjustments that will commence for 2024 income filing. This is NOT for 2023 tax filing, it's what's coming up next.
From the IRS website:
"The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023."
Go here to read what's different.
Did you know that the IRS has a variety of programs in place that give small businesses a tax break for meeting certain requirements? One example is energy saving practices. Go here to read about new and existing programs that can lighten your tax burden.
If you are struggling to make ends meet, make a low income, or your income has dropped due to unexpected events, there may be help available in your community.
In case you want to get started on a search right away: the term for this is called Community Action. The individul names for any state-level programs that you may apply to will vary from one US state to the next.
Additionally, the available programs, resources, and income requirements will vary, so I won't be able to provide details to you. You must seek and find information on your own, within your US state and county of residence.
That said, I want to emphasize that whether you qualify for assistance of any kind is determined by numbers. Therefore, don't let words used to describe such programs, like "If you are in a financial emergency" deter you from applying. Emergency is a subjective word and ultimately, meaningless.
Again: your total income will determine what kind of (if any) help you can get, if help is available.
Here are some resources for you to look into:
Food pantry.
A lot of people likely don't know about, or don't believe they qualify for food pantry support. Again, this is determined by income and other factors.
Your best bet for getting supplemental food from a food pantry is to check around your county of residence and find a food pantry close to home. These are often run by religious organizations.
If you are in a financial position to help a food pantry, you can do your part for others struggling with food insecurity, by donating shelf-stable food or by donating cash for the food pantry to purchse food for clients.
Learn about food pantries and how the USDA supports them with TEFAP (The Emergency Food Assistance Program)
The Emergency Food Assistance Program | Food and Nutrition Service (usda.gov)
Help with heating bills:
LIHEAP Map State and Territory Contact Listing | The Administration for Children and Families (hhs.gov)
Check into programs that help with your internet bill as well. Again, I am unable to confirm whether this would be available in your area. You must look it up yourself. But it could be a great help for those struggling financially, to have their utility bills reduced.
SNAP. (Supplemental Nutrition Assistance Program). This is the name for the federal food stamps program. Again, your income and other factors determine availability. I cannot say whether you would qualify, but simply knowing the right words to search for can help you get started finding support in your area.
Medicaid. Free and low-cost health insurance is available to those who qualify based on income. The name of your Medicaid program will differ from one US state to the next. To learn more, contact your county's social services office.
Low income and income-adjusted rent may also be available. Again, I am giving you the words that you need to know, so you can find the programs that help you.
Again: "Community action" is the term given to programs that help fight poverty, so that is a good phrase to start with if you're seeking support. Again, the special branding words used in your area will be unique - so you want to start by searching for community action + your state + county + town.
I have heard from a variety of financial reporting sources that the feds will stop raising interest rates in 2024. So hang tight, your business may be doing better in the coming months than it has been!
Wishing you a healthy, happy and prosperous 2024.
Dina at Wordfeeder PLR