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re: Anyone here going to rake it in with monthly child tax credit checks?

Posted on 7/13/21 at 7:43 pm to
Posted by ABucks11
Baton Rouge
Member since Jan 2012
1236 posts
Posted on 7/13/21 at 7:43 pm to
quote:

75k is like 60-65k after taxes


75k limit is AGI. You could gross over $97,000 and max out 401k and HSA and bring down AGI. $100,000 salary for single filer is covering all of middle class.
Posted by lsupride87
Member since Dec 2007
111522 posts
Posted on 7/13/21 at 8:34 pm to
Either way, earning 75,000 as an individual puts you in the 79th percentile of earners for the state

This thing covers the entire middle class and eases its way into the lower upper class
Posted by SuperSaint
Sorting Out OT BS Since '2007'
Member since Sep 2007
150404 posts
Posted on 7/13/21 at 8:37 pm to
Got a letter in the mail today saying my wife and I are getting $166 a month for the next 6 months for our baby!






Biden’s America
Posted by LSUAngelHere1
Watson
Member since Jan 2018
10137 posts
Posted on 7/15/21 at 11:32 am to
I got $250 for my 17yo but didn’t get the one time payment of $500 for college students
Posted by Pettifogger
I don't really care, Margaret
Member since Feb 2012
87384 posts
Posted on 7/15/21 at 11:43 am to
I don't think people mind being labeled upper class if that doesn't come with a bunch of tax penalty and vilification.

Let people making more money get the same breaks, which they fund for half the country anyway, and nobody will care where the cutoffs are.
Posted by Areddishfish
The Wild West
Member since Oct 2015
6538 posts
Posted on 7/15/21 at 11:44 am to
quote:

you have to make an effort to opt out.


The wife (no pics) and I both opted out and still got it

It was almost like applying for my concealed carry license with all the stuff they made you do to opt out.
Posted by TDTOM
Member since Jan 2021
25893 posts
Posted on 7/15/21 at 11:46 am to
I am not rich by any means, but this bullshite about paying all these taxes and then getting crumbs is bullshite.
Posted by Pettifogger
I don't really care, Margaret
Member since Feb 2012
87384 posts
Posted on 7/15/21 at 11:46 am to
Considering the goal is to get average people used to relying on regular income from the federal government...it makes sense it would be hard to opt out.
Posted by Pettifogger
I don't really care, Margaret
Member since Feb 2012
87384 posts
Posted on 7/15/21 at 11:47 am to
quote:

I am not rich by any means, but this bullshite about paying all these taxes and then getting crumbs is bullshite.



Not only do you not get any of these kickbacks, you also get told what a piece of shite you are by the ruling class.
Posted by Niner
Member since Apr 2019
2033 posts
Posted on 7/15/21 at 11:48 am to
Got my direct deposit of $1,150 this morning.

(three under 6, one age 6)

Posted by TDTOM
Member since Jan 2021
25893 posts
Posted on 7/15/21 at 11:49 am to
quote:

Not only do you not get any of these kickbacks, you also get told what a piece of shite you are by the ruling class.



Correct.
Posted by Cole Beer
Baton Rouge
Member since Aug 2008
4903 posts
Posted on 7/15/21 at 11:53 am to
I got my $250 today, gonna spend it all on OnlyFans

Posted by Pettifogger
I don't really care, Margaret
Member since Feb 2012
87384 posts
Posted on 7/15/21 at 11:54 am to
It's for stimulus, after all
Posted by tigeraddict
Baton Rouge
Member since Mar 2007
14818 posts
Posted on 7/15/21 at 12:22 pm to
For each child over 6 you get money upfront ($1500) but will get back $500 less or owe $500 more at tax filing

Old credit $2000 be credit $3000, but u get half upfront monthly over 6 months. Net difference is $500 less credit at tax filing time

$200 less at tax time for under 6
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