Plans to spend your third socialist check?

Non-denominational-vinyl wrote:
I meant that likely that person who makes $160 and has 10 kids will likely get $30k in tax credits, so they won't be getting as screwed as you think
but there have to be lines drawn and we can always find a few people on the wrong side of the line
and they get the sad trombone

How much tax credit will the couple with ten kids get if they make 150K?

Space wrote:
Does that mean I will have to pay $800 less in taxes,

This is a credit, yes.

Space wrote:
or does it mean my taxable income gets adjusted down by $800?

No, this would be a deduction.

That is your free tax lesson for the day.

Dollar for dollar, credits are worth much more than deductions and are generally preferred.  Assuming you have the gross income, a $100 deduction is the equivalent of about $23 in tax savings (avg amount of tax) to where a $100 credit is worth $100 in tax savings.  There are very rare instances when you would prefer a deduction, but one might be where your gross income is $150,600 and an $800 deduction would allow you to qualify for say a stimulus check of $1600, but those are very rare instances.

House votes to send $1.9 trillion COVID relief package to Biden's desk

Will he sign tonight??

getting stuff done in under 100 days!

Edit…signing Friday…why wait?


Details: The bill approves $1,400 stimulus payments for individuals making up to $75,000 and couples making $150,000. It will also extend weekly $300 unemployment insurance until Sept. 6. Other highlights include:

An increased child tax credit in 2021 of $3,600 for children up to age 5 and up to $3,000 for ages 6–17.
$128.6 billion to help K-12 schools reopen.
$19 billion in emergency rental assistance.
$25 billion to help restaurants.
$46 billion for coronavirus testing and tracing.
$5.2 billion to support the research and development of vaccines.
$7.25 billion for Paycheck Protection Program loans.
What to watch: The White House says Biden will sign the bill on Friday and that stimulus checks will begin going out before the end of the month.

I guess it’s trendy to use GQP now.. and one of those clowns is taking credit for a bill he voted against and another is calling it socialist wish list despite the fact his red state gets a ton of federal aid…

Boom! Hit my account about half an hour ago.

soo…what are you spending it on?

I dunno! Should I buy all of the remaining Dino tickets?

Seems like a wise choice

Slack-Hatch wrote:
soo…what are you spending it on?

over-priced box sets, obvs.

Boom, didn't even have to wait until the 17th

Slack-Hatch wrote:
Boom, didn't even have to wait until the 17th

So you are admitting to being one of the board poors?

The reason I was hypothesizing about about how much a couple with an adjusted gross between 150K and 160K would get was because that's where our 2019 return ended up. We haven't filed for 2020.

We got a letter telling us how much we're getting for Stimulus #3 and saying we'd get it within seven days.

However, I plugged the same numbers that gave me the correct amount of previous partial-stimulus money for Stimulus #2 into the Stimulus #3 calculator, and what the letter said we're getting is less than what the calculator says we should be getting.

But you can't really quibble about the amount of free money you're getting, can you?

We bought a Miele

We're getting our deck refinished, although we'd do that regardless.

Going to Charlottesville for a night for my birthday/Mother's Day weekend. Note: Ask Walkie for some recommendations from his recent trip, though won't be going to Trump winery.

Space wrote:

Slack-Hatch wrote:
Boom, didn't even have to wait until the 17th

So you are admitting to being one of the board poors?

umm, I pretty much bring up how broke I am and how expensive everything is on a daily basis, so not sure how that is surprising

hutch wrote:
We bought a Miele

Good investment, we've had ours for over 15 years at this point and love it

Slack-Hatch wrote:

Space wrote:

Slack-Hatch wrote:
Boom, didn't even have to wait until the 17th

So you are admitting to being one of the board poors?

umm, I pretty much bring up how broke I am and how expensive everything is on a daily basis, so not sure how that is surprising

If you're buying concert tickets for more than a few shows a year, you're not broke.

Without delving into specifics of anyone


Some people use the cover of saying “I am broke” as a rationale for being stingy or for just not spending money…or for hoarding money… my father was like this…


It’s a fine line….a human being can convince themselves of anything.. we easily become pathological

A person could live in Monte Carlo and think to themselves “I am broke… my friends all have boats and I don’t”

Of course they would be lying to themselves

hutch wrote:
A person could live in Monte Carlo and think to themselves “I am broke… my friends all have boats and I don’t”

Docksiders delayed are docksiders denied.

And for some people, saving is not the same as hoarding.

Space wrote:
And for some people, saving is not the same as hoarding.

It’s not the same…

But what about a person who doesn’t have enough money to send their kids to school cause he would rather “save” money?

Is that “saving” or a good thing?

He is hoarding - a bad thing- under the guise of saving - a good thing