Page 70

CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

70 b. Training allowances granted by WIA to a dependent child or a caretaker relative of a dependent child to participate in a training program is exempt. c. Wages derived from participation in a program carried out the under Workforce Investment Act (WIA) and paid to any dependent child who is applying for or receiving Medical Assistance are exempt in determining eligibility for a period not to exceed six months in each calendar year. 9. An individual involved in a profit-making activity as a sole proprietor, partner in a partnership, independent contractor, or consultant shall be classified as self- employed. a. To determine the net profit of a self-employed applicant/client deduct the cost of doing business from the gross income. These business expenses include, but are not limited to: i) the rent of business premises, ii) wholesale cost of merchandise, iii) utilities, iv) taxes, v) labor, and vi) upkeep of necessary equipment. b. The following are not allowed as business expenses: i) Depreciation of equipment; 1) Exception: For the purpose of calculating MAGI-based income, depreciation of equipment is an allowable business expense if the equipment is not used for capital improvements. ii) The cost of and payment on the principal of loans for capital asset or durable goods;

loading…

Page 70

Official source

CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

70 b. Training allowances granted by WIA to a dependent child or a caretaker relative of a dependent child to participate in a training program is exempt. c. Wages derived from participation in a program carried out the under Workforce Investment Act (WIA) and paid to any dependent child who is applying for or receiving Medical Assistance are exempt in determining eligibility for a period not to exceed six months in each calendar year. 9. An individual involved in a profit-making activity as a sole proprietor, partner in a partnership, independent contractor, or consultant shall be classified as self- employed. a. To determine the net profit of a self-employed applicant/client deduct the cost of doing business from the gross income. These business expenses include, but are not limited to: i) the rent of business premises, ii) wholesale cost of merchandise, iii) utilities, iv) taxes, v) labor, and vi) upkeep of necessary equipment. b. The following are not allowed as business expenses: i) Depreciation of equipment; 1) Exception: For the purpose of calculating MAGI-based income, depreciation of equipment is an allowable business expense if the equipment is not used for capital improvements. ii) The cost of and payment on the principal of loans for capital asset or durable goods;