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Posts Tagged economic stimulus

Spending Next Year’s Taxes Before Filing This Year’s Taxes

Feb 11

Posted by JSB in Saving Money, Taxes | No Comments

By now I’m sure you’ve heard that the economic stimulus package has been passed. However, maybe you haven’t heard that this is not free money from the government. Rather, it’s a tax credit advance.

The wife and I have decided that we’re going to save our rebate check. We could go out and spend it on something shiny and new, but that wouldn’t do much for us. We’re in the process of saving for a house so maybe we’ll just put it toward that. But then again – we should also start Roth IRAs. The money won’t be here for a while so we have some time to decide. The only thing we’re certain of right now is that we’re not spending it.

What do you plan to do with your rebate check?

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Economic Stimulus Plan Approved By Congress…$600 To $1200 Checks To Be Sent

Jan 24

Posted by JSB in Economy | No Comments

About 116 million families will receive tax rebate checks.

The United States Congress and White House reached a deal today to distribute tax rebate checks. The checks will range from $600 to $1200 – those with children will receive a bit more.

The eligibility requirements to receive a check are:

Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments - CNN

Check amounts explained:

Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don’t pay taxes would get $300 rebates. – Yahoo Finance

Also in this package is $50 billion in tax cuts for businesses. While the tax cuts for businesses start immediately, Congress hopes to have the tax rebate checks in people’s mailboxes by June.

Now that this plan has been approved, what do you plan to do with your rebate check?

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Will A Stimulus Package Help Revive The Economy?

Jan 18

Posted by JSB in Economy | No Comments

So it appears that President Bush will layout a plan to put some life back into the economy. Early reports indicate that the plan will pump $100 – $150 billion into the economy through tax rebates. With single filers getting rebates of up to $800 and married filers getting up to $1600.

What do you think?

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