Median Income test

[Dennis1971]

I was wandering if when they do a median income test if they go off your gross pay or your net or can you deduct like 401k contributions or 401k loan payments? Or maybe insurance payments or anything else? Looks like I will be a hair over the amount when we go to file in July. I truly would like to file a 7 if possible. Basically I'm trying to legally get my median income down. Any ideas?
Thanks

[magyar123]

Give Uncle Sam a little more by filling out a new W4. claiming single/0 exemptions, and indicate a certain amount for additional withholding. That might just throw you below the medianamount.
Of course since you plan on filing in July, that might not help much - anymore/now.
Or wait with your filing until you are 6 months into the new additional withholding period, which would be in November

[lrprn]

I was wandering if when they do a median income test if they go off your gross pay or your net or can you deduct like 401k contributions or 401k loan payments? Or maybe insurance payments or anything else?

Sorry to burst the bubble, but you have to use your gross income for the Means Test.

Looks like I will be a hair over the amount when we go to file in July. I truly would like to file a 7 if possible. Basically I'm trying to legally get my median income down. Any ideas?

As long as you show less than $100/month in disposable income you should be ok. That's the minimum that can support a Ch 13 plan and still provide the same payback to creditors they would get in a Ch 7.

Take a good look at your expenses - you may have overlooked some or underestimated others. Check this online calculator for expenses when filing bk - it's a good one - http://www.goainc.com/fraley/calcula...alculator.html

[Dennis1971]

Our jobs have been really slow, could we get by with taking some time off to lower our income. Our employers have been talking about a layoff if people to take some voluntary time off. Is this legal?
Thanks