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re: Anyone here going to rake it in with monthly child tax credit checks?
Posted on 7/10/21 at 11:59 am to Jay Are
Posted on 7/10/21 at 11:59 am to Jay Are
quote:
What is your definition of the middle class? Do you live in San Francisco or NYC?
Louisiana. Greater btr area. And amazingly.
Gets shite on a lot, but there are a lot of decent paying jobs within 50 miles.
0
Posted on 7/10/21 at 12:21 pm to jpggpj
That’s correct I mistakenly mentioned it was to opt out entirely but that’s right the 28th was first payment
Posted on 7/13/21 at 7:06 am to 4cubbies
quote:
I happen to have two kids under 6 so I finally “get something,”
Finally? Having kids somehow entitles you to “getting something” from the government?
Posted on 7/13/21 at 9:44 am to goofball
quote:
So it's not for the middle class.
I don’t know about you but middle class in Louisiana seems pretty well between $75k-150k a year in household income. Two college educated married adults likely pull within that range together. Any higher than that then you are doing pretty well. I don’t disagree that people slightly over that range shouldn’t get the credit as well though.
Posted on 7/13/21 at 9:51 am to lsu xman
I’m trying to opt out of these payments but every time it tries to verify me it says that it can’t. It is pissing me the frick off.
Posted on 7/13/21 at 10:03 am to jcaz
I’m not sure what our CPA did, but we got over $10k back for having a kid in November and got a letter saying we will get $279/month for our 8 month old.
Our household income is over $200k and we just paid off our only mortgage in 2020 so there shouldn’t have been too much interest deduction. I think we may be claiming my wife’s parents or something shady. The CPA doesn’t speak English.
Our household income is over $200k and we just paid off our only mortgage in 2020 so there shouldn’t have been too much interest deduction. I think we may be claiming my wife’s parents or something shady. The CPA doesn’t speak English.
Posted on 7/13/21 at 10:05 am to fallguy_1978
I opted out yesterday. It said no payments were "processed" yet, so I don't know if I'll get that first one or not.
Posted on 7/13/21 at 10:34 am to lsu xman
I wouldn’t be bragging about that. Trashy
Posted on 7/13/21 at 10:39 am to JumpingTheShark
quote:
The deadline has passed to opt out,
I think you can still opt out for the remaining months? Not positive but thought I read that.
Posted on 7/13/21 at 11:12 am to Erebus
quote:
It’s similar but now it’s $3600 for kids under 6 and $3000 for kids 6-17. In previous years it was $2000 per kid.
I thought previous years (or maybe year if Wuhan bills changed anything) the $2000 was only up until 16 and then something less like maybe $500 for 17 year olds. I can’t remember, but just wondering if age got increased a year as well.
This post was edited on 7/13/21 at 11:19 am
Posted on 7/13/21 at 11:37 am to goofball
quote:
The amount phases out at a rate of $50 for every $1,000 of annual income beyond $75,000 for an individual and beyond $150,000 for a married couple.
How would this work for someone who makes 95k and SO makes 45k but the have 1.7 million in investments generating 25k or so a quarter but don’t take the profits
Posted on 7/13/21 at 12:32 pm to Kujo
quote:
The CPA doesn’t speak English.
Do they speak Japanese, Korean or Chinese? If so, I wouldn’t worry. Those folks know how to add like a MF.
Posted on 7/13/21 at 12:42 pm to lsu xman
Make too much money.
(First time I ever said that.)
(First time I ever said that.)
Posted on 7/13/21 at 12:47 pm to lsu xman
Just tell me how much I owe. Happy to do my part.
Posted on 7/13/21 at 12:48 pm to tigafan4life
quote:
I’m trying to opt out of these payments but every time it tries to verify me it says that it can’t. It is pissing me the frick off.
Same thing happened to my wife. I opted out no problem last month. But she kept having this issue.
Posted on 7/13/21 at 12:52 pm to John_V
quote:
Reason #385 why the dollar is about to be worth the paper it's printed on
It's just an advance on the tax credit for kids. The credit was bumped up. But Our tax refund will be reduced by the amount of these advances.
This post was edited on 7/13/21 at 1:06 pm
Posted on 7/13/21 at 12:53 pm to dallastigers
quote:
I thought previous years (or maybe year if Wuhan bills changed anything) the $2000 was only up until 16 and then something less like maybe $500 for 17 year olds. I can’t remember, but just wondering if age got increased a year as well.
There was a bump in the tax credit from $2k to 3k and the age did go from 17 to 18.
This post was edited on 7/13/21 at 12:55 pm
Posted on 7/13/21 at 12:58 pm to Erebus
I'm getting it and throwing it all on student loan principle. Better than letting the government hold on to it.
Posted on 7/13/21 at 1:01 pm to Erebus
quote:
I’m not complaining about the 1 year but the 5 year would be very bad. Especially bad since he plans to forgive all student loan debt, raises taxes, and make college free. Increase the population of youth exponentially and then pay for their college for each of them. Just thinking about it is scary.
Oh we're fricked.
If you haven't started inflation-protecting your money, you need to start now.
Posted on 7/13/21 at 1:01 pm to GreenRockTiger
quote:Well, yall can both be wrong
So it's not for the middle class.
It never is
150,000 household income puts you in the 87th percentile for Louisiana
So, considering only the richest 13% will be phased out, I would say this clearly includes the middle class
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