Dog Community

probe1957

Posted : 2/8/2008 3:26:24 PM

Well, since we owe Lowe's $19,000...

scrubsfiend

Posted : 2/8/2008 3:30:04 PM

Depends on where I am financially at the very moment I get the check. It'll probably arrive around the time I move so it's quite possible it would go toward pet deposit or some such. If it's well before the move, I should probably save it for said deposit. But if the deposit has been taken care of already... a girl can always use a new pair of shoes, an outfit to go with it, a new purse, a snazzy new collar for Joe, or any number of frivolous things. Now $600 worth of frivolous things, probably not. The majority of it will most likely go toward debt, whether it's cc or medical bills. Good times.

fuzzy_dogs_mom

Posted : 2/8/2008 3:38:45 PM

I haven't carried any CC debt for years, but last fall DGS needed a lot of dental work done. I knew DS wouldn't have the money to pay what the insurance (which I'm also paying for *sigh*) didn't cover, so I called the dentist and left him a CC number and told him to put whatever wasn't covered on the card. Whenever the check comes, it will go toward paying off whatever is left on the card. If I'm lucky, there will be some left over.

Joyce

Pomeranian <3

Posted : 2/8/2008 3:46:20 PM

probe1957

Well, since we owe Lowe's $19,000...

LOL! probe *gasp* what did we remodel? :o) do-it-yourselfer huh?

rwbeagles

Posted : 2/8/2008 3:47:48 PM

Pomeranian <3
:o) do-it-yourselfer huh?

Oh Billy...she set you up so incredibly well here...but I will not push you over that precipice...LOL. Remember how I spared you, this day my friend!

boneyjean

Posted : 2/8/2008 4:03:17 PM

Here are some details that have more specifics on who will get it and how they determine it..

I am not far behind you Billy! Mine is going to the same thing...

-------------------------------------------------

Congress passes economic stimulus package — President eager to sign
By a vote of 81 to 16, the Senate approved H.R. 5140, the “Economic Stimulus Act of 2008” (the Stimulus Act) as passed by the House of Representatives, with an amendment that makes the rebate available to more Americans. More specifically, the agreement extends the stimulus rebate to Americans whose income consists only of Social Security or veterans' disability payments. The House of Representatives took quick action to get the bill passed before Congress begins a two-week President's Day recess and approved the Stimulus Act as amended by the Senate by a vote of 380-34. Treasury Secretary Paulson called the package a “win” and said the President is eager to sign the bill.Following is a summary of the Stimulus Act's tax provisions:
Rebate. An eligible individual will receive a basic credit equal to the greater of:

(1) his net income tax liability up to a maximum of $600 ($1,200 for a joint return);
or (2) $300 ($600 for a joint return) if either:

(a) the taxpayer's qualifying income is at least $3,000;
or (b) his net income tax liability is at least $1 and gross income is greater than the sum of the applicable basic standard deduction ($10,700 MFJ) amount and one personal exemption ($6800 MFJ) (two personal exemptions for a joint return). Qualifying income is earned income generally, veterans' disability payments (including payments to survivors of disabled veterans), and social security benefits.

There will be an additional $300 per-child credit amount.

The amount of the rebate (both the basic and the child's amount) phases out at a rate of 5% of adjusted gross income (AGI) above $75,000 ($150,000 for joint returns).

The rebate won't be available if an individual's tax return does not include valid identification numbers. A valid identification number is a Social Security Number issued by the Social Security Administration, and does not include a Taxpayer Identification Number issued by the Internal Revenue Service.

------------------

Edited to try to make it easier to understand although I am still trying to figure out (2).

sharismom

Posted : 2/8/2008 4:11:32 PM

Well, that explanation helped... Confused

If I get anything, it'll go to pay for the $216 emergency vet visit for Bear last week.

Pomeranian <3

Posted : 2/8/2008 4:17:57 PM

boneyjean... okay now my head is spinning... do I get money or no? :o( haha so confused... Is this REALLY going to happen? So as long as you make over $3,000 net gross per year you get a check back from the government? YAY trickle effect worked then... first the rich now us?

probe1957

Posted : 2/8/2008 4:21:33 PM

rwbeagles
Remember how I spared you, this day my friend!

Oh.....go take a picture of something. ;)

janobonano

Posted : 2/8/2008 5:17:28 PM

cyclefiend2000
100% straight to CC debt.

Ditto. Unless I'm caught up by then. Then it will be diapers.

NicoleS

Posted : 2/8/2008 5:37:55 PM

Will someone help me here?

So we file taxes and all, and make more than $3000 and all that, but because of education credits we get all of our money back. So do we get $600 or $1200 (for DH and I jointly)? Our tax bill is still there, and we'd still have to owe it if not for DH being in school. I just can't figure out where we fit in, so who can help me understand how this will work?!?!

Oh, and we might spend a few bucks, maybe go out to a nice restaurant, but the rest is going right into savings since we hope to be able to scrape together enough for a downpayment on a house sometime this century!!

griffinej5

Posted : 2/8/2008 5:44:17 PM

I'm still confused as to whether I get it or not. I think that means I can get it, but I have no idea. If I get it, I probably only get $5 or so anyway.

cakana

Posted : 2/8/2008 5:44:55 PM

NicoleS

Will someone help me here?

So we file taxes and all, and make more than $3000 and all that, but because of education credits we get all of our money back. So do we get $600 or $1200 (for DH and I jointly)? Our tax bill is still there, and we'd still have to owe it if not for DH being in school. I just can't figure out where we fit in, so who can help me understand how this will work?!?!

Oh, and we might spend a few bucks, maybe go out to a nice restaurant, but the rest is going right into savings since we hope to be able to scrape together enough for a downpayment on a house sometime this century!!

or (2) $300 ($600 for a joint return) if either (a) the taxpayer's qualifying income is at least $3,000;

Since it says "or" and not "and" anywhere, I think the above statement means you'll still get the refund.

cakana

Posted : 2/8/2008 5:45:54 PM

griffinej5

I'm still confused as to whether I get it or not. I think that means I can get it, but I have no idea. If I get it, I probably only get $5 or so anyway.

The way I understand it, if you qualify, the minimum anyone will get is $300.

boneyjean

Posted : 2/8/2008 6:56:24 PM

I am still trying to understand it myself..this was info I got from one of our tax notices we get emailed daily and I just went in and edited with bullets to try to make it easier to read. I still don't understand what (2) is saying. I added in the standard deduction and personal exemption amounts for MFJ only on that one when I was trying to understand it.

There are some in between numbers there than I am unclear about. Maybe I should just erase it b/c I think it actually made people more confused. I am looking for something that explains it more clearly and if I find it I will link it.

What will you do with it?