âAnonymous, Anaheim, CA. A: With regard to federal taxation, individuals can exclude up to $250,000 in profit from the sale of a main home (or $500,000 for a married couple) as long as you have owned the home and lived in the home for a minimum of two years. Those two years do not need to be consecutive.
DEFINITION of 'Subsidy'. A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction.The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public.Politics play an important part in subsidization. subsidy is a benefit given to an individual, business or institution, typically by the government. Subsidies are given to promote a social good or an economic policy.
What is the low-income subsidy (LIS), also known as Extra Help? The Part D benefit provides financial assistance known as Extra Help to those with limited income and assets. If you are eligible for Extra Help, your Part D premiums, deductibles and copayments can be eliminated or significantly reduced. In addition, you will not be exposed to the gap in coverage, also known as the âdonut hole.â About one-third of all Medicare beneficiaries are likely to be eligible for the low-income subsidy. The Social Security Administration estimates that this Extra Help could be worth an average of $4,000 per year.