What Is Considered Low Income in the U.S.?

Answer Low income status depends on the size of your household. As of 2010, the federal poverty level considers anyone making less than $10,830 per year as low income, according to the U.S. Department of ... Read More »

Top Q&A For: What Is Considered Low Income in the U.S.

What income is considered low income for a family?

The United States sets a "poverty threshold," which is the minimum amount of money a person or family can make and still buy the basic necessities. As of 2009, that amount for a family of four aver... Read More »

How much income is considered low income?

According to the U.S. Census Bureau, the federal poverty threshold varies by the size of the family and the age of its members. In 2008, the federal poverty threshold for an average family of four ... Read More »

Is refinancing considered income?

Refinancing is not considered income. Individuals refinance by replacing a preexisting loan with another loan. Refinancing changes loan payments or modifies a loan's interest rate that may or may n... Read More »

Are HSA Distributions Considered Income?

Individuals divert some of their pretax income to Health Savings Accounts, which are reserved for health costs. They are similar to 401(k) plans, in the sense that money that goes into them is not ... Read More »