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Started By
Message
re: Some Stimulus Check Answers (and other issues)
Posted on 3/25/20 at 5:54 pm to fallguy_1978
Posted on 3/25/20 at 5:54 pm to fallguy_1978
quote:
Means testing people might delay this quite a bit too.
It would be like going to the DMV and applying for your stimulus. We need forms A9, G3 and F9 and check back in 2 weeks.
Open up the FEMA portal, and let people apply via that. They wouldn't be sending out adjusters but could require documents be uploaded. FEMA in the past has given payments to people before confirmation was made, so they could do that again.
2
Posted on 3/25/20 at 5:54 pm to UAinSOUTHAL
quote:
File your 2019 taxes before 4/6. They will use your 2019 taxes if they have been filed.
I know what I'm doing this weekend
Posted on 3/25/20 at 5:55 pm to Jpeazyy
quote:
In 2018 I had one kid
In 2019 I had another
How would I inform them of this change to receive the additional 500?
Would that just be a tax credit?
This would be a situation where your advance payment wouldn't include the $500 for your second kid, but you would instead get it as a credit / refund on your 2020 tax return, that you file next year.
Posted on 3/25/20 at 5:57 pm to LSUFanHouston
I wish. I could just get a link to the full bill. Hearing a lot of the bullshite stayed in and I trust almost nobody with their "take" at this point.
Not directed at OP, sounds like straight facts here, at least based on second hand info.
Not directed at OP, sounds like straight facts here, at least based on second hand info.
Posted on 3/25/20 at 6:01 pm to GRTiger
quote:
I wish. I could just get a link to the full bill. Hearing a lot of the bullshite stayed in and I trust almost nobody with their "take" at this point.
I don't think there is a "full bill" at this point that has been posted. I am getting information from some lobbyists I know.
Posted on 3/25/20 at 6:02 pm to LSUFanHouston
quote:
Open up the FEMA portal, and let people apply via that.
Fema is Garbage. Crooks.
Posted on 3/25/20 at 6:08 pm to LSUFanHouston
Which is stimulus regardless of how much you make! It’s laughable to have income restrictions on stimulus. An aid package is different. That should only go to those effected via the unemployment office and SBA route. The misappropriation of tax dollars for this is unreal. I agree people need help and there is a system that identifies those people. We should utilize existing systems to appropriate those funds. I know dozens of people who make 120k a year married bc their wives don’t work that will get a piece of this and still working. I also know a few that had both husband and wife working who had AGIs above 150k and one lost their job that will be left out. Bring on the “they should have saved more “ crowd and I’ll defer to the you should have went to college crew and so on. The beneficiaries of this, for the most part, have the least to lose IMO. While those who will have to fund these packages will see little to no direct “payment “. All that being said it is better than nothing which is a very low bar to set for those who run the United States.
Posted on 3/25/20 at 6:11 pm to LSUFanHouston
TL:DR
Will I get a check and will it make me pay it back later, that what everyone wants to know.
Will I get a check and will it make me pay it back later, that what everyone wants to know.
Posted on 3/25/20 at 6:13 pm to LSUFanHouston
So what are self employed people doing with the quarterly estimates that are due soon ? Paying a minimum amount? Paying nothing?
Posted on 3/25/20 at 6:13 pm to DoUrden
I would assume you would just have to pay taxes on the amount you get. Rather than pay it back in its entirety
Posted on 3/25/20 at 6:14 pm to DoUrden
quote:
Will I get a check and will it make me pay it back later, that what everyone wants to know.
As my tax professors at UNO used to say, "It depends"
Posted on 3/25/20 at 6:16 pm to LSUFanHouston
quote:
am getting information from some lobbyists I know
So everything you're posting is probably made-up bullshite.
Should've started your OP with that.
Posted on 3/25/20 at 6:16 pm to Lsupimp
quote:
So what are self employed people doing with the quarterly estimates that are due soon ? Paying a minimum amount? Paying nothing?
The ones that are due 4/15 have already been postponed to 7/15.
The next payment is due 6/15. You still have to make estimated payments of regular tax, you can just defer your the self-employment tax part of it.
I have no idea what that's going to look like in practice. I'm guessing they will base any estimated tax penalties by subtracting the s/e tax from the total tax that should have been paid in. But that's just a WAG at this point.
Posted on 3/25/20 at 6:18 pm to magildachunks
quote:
So everything you're posting is probably made-up bullshite.
Should've started your OP with that.
I've worked with these guys on multiple occasions. It's not made up BS. Like I said, of course there could be last minute changes. Also, a number of articles being posted today are covering these dame topics.
Posted on 3/25/20 at 6:21 pm to LSUFanHouston
Gotcha ! Thanks.
Posted on 3/25/20 at 7:01 pm to LSUFanHouston
quote:
had this discussion with the wife (no pics) last night. We are both still getting paychecks. I feel like I would rather the money go to those who are out of work / have reduced work.
You qualify to get this? Dude, if you ever move to BR, you need to get in touch with me and I’ll hook you up with way more money.
Posted on 3/25/20 at 8:24 pm to Murray
lol. Thanks. My wife is a teacher so she brings our income down. Lol
If maxing out my pay was most important I’d still be working in the galleria area and not in NOLA...
If maxing out my pay was most important I’d still be working in the galleria area and not in NOLA...
Posted on 3/25/20 at 8:31 pm to nated14
quote:
Which is stimulus regardless of how much you make! It’s laughable to have income restrictions on stimulus. An aid package is different. That should only go to those effected via the unemployment office and SBA route. The misappropriation of tax dollars for this is unreal. I agree people need help and there is a system that identifies those people. We should utilize existing systems to appropriate those funds. I know dozens of people who make 120k a year married bc their wives don’t work that will get a piece of this and still working. I also know a few that had both husband and wife working who had AGIs above 150k and one lost their job that will be left out. Bring on the “they should have saved more “ crowd and I’ll defer to the you should have went to college crew and so on. The beneficiaries of this, for the most part, have the least to lose IMO. While those who will have to fund these packages will see little to no direct “payment “. All that being said it is better than nothing which is a very low bar to set for those who run the United States.
Upper-middle always gets screwed. We should be used to it by now. Wholeheartedly agree that this should be a blanket stimulus.
Posted on 3/26/20 at 9:01 am to mmmmmbeeer
Dentists are getting crushed by this as every practice is closed [or doing only emergency cases] and many get paid commission essentially. Wife is a dentist and graduated May 2019. The majority of her class has been laid off, and the weekly max unemployment benefit across the South (AL = $275, GA = $330, LA =$247 , MS = $235, SC =$326, TN = $275) does not even come close to replacing their wages (avg starting for dentist is $120-$150k which is $1.8k - $2.3k/wk assuming 20% effective tax rate). Most of them have bought houses and refinanced their substantial federal loans to private lenders over the past year assuming they were in pretty good financial situations. If there was any loss to income, it would be an accident and their insurance would cover them.
I say all of that to suggest that some people who were doing good things and high paying jobs are getting destroyed by this virus. It's not just the hospitality industry.
I say all of that to suggest that some people who were doing good things and high paying jobs are getting destroyed by this virus. It's not just the hospitality industry.
Posted on 3/26/20 at 9:26 am to LSUFanHouston
good breakdown
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