Stimulus check | Imamother

amother

Magenta ↓

Fri, Apr 17 2020, 12:06 am

amother [ Pink ] wrote:

It depends on your income. Many people are making more than their salary with the
$600 weekly bonus.

Up until what income should they keep giving the stimulus checks? Or should they also give the guy earning seven figures a year.

What is the $600 bonus you are talking about?

amother

↑ Periwinkle ↓

Fri, Apr 17 2020, 12:14 am

amother [ Magenta ] wrote:

What is the $600 bonus you are talking about?

People collecting Unemployment get $600 more per week then the regularly scheduled payments.

amother

Mint

Fri, Apr 17 2020, 12:17 am

amother [ Blush ] wrote:

Yes got the stimulus check direct deposited to my bank account on yom tov .bh

I'm not sure why everyone is so happy.
It's deducted from next year's tax return. Its not like the government is giving an addition.

amother

↑ Magenta

Fri, Apr 17 2020, 12:42 am

amother [ Periwinkle ] wrote:

People collecting Unemployment get $600 more per week then the regularly scheduled payments.

Is unemployment money going to come out of the employers pocket because my husband is offering his workers work from home and they aren’t interested I get why should they work if they can get free money?

His workers aren’t Jewish and single with no kids so it’s not like they are busy homeschooling now.

amother

Blonde ↓

Fri, Apr 17 2020, 12:51 am

amother [ Mint ] wrote:

I'm not sure why everyone is so happy.
It's deducted from next year's tax return. Its not like the government is giving an addition.

It actually is an addition. It's technically a new credit for 2020, and they're giving it in advance. You're not losing out on any credit you would have been getting had they not passed this bill. Just if you don't get it now, for whatever reason, you'll claim it on your 2020 tax return.

amother

↑ Blonde

Fri, Apr 17 2020, 12:52 am

amother [ Magenta ] wrote:

You should check your state. In pa, they're not penalizing employers for having workers claim unemployment.

↑ cnc ↓

Fri, Apr 17 2020, 12:53 am

amother [ Mint ] wrote:

I'm not sure why everyone is so happy.
It's deducted from next year's tax return. Its not like the government is giving an addition.

It is an addition.

amother

↑ Cobalt ↓

Fri, Apr 17 2020, 5:35 am

amother [ Pink ] wrote:

They don't what I do. I was not handed anything. I have what I have because I lived frugally for years first and would never run credit card debt. If you can't make it on $150,000 you are doing something wrong.

You can collect much higher unemployment than the guy who never had the chance to blow through that money.

I have to retroactively pay for the tuition that got me the income I’m currently making. I’m not frivolously blowing through 150k. About a third goes to taxes and the rest have been bills to cover got us where we are (tuition). We’re actually lucky to still have income but had to cut back significantly so we can be home for the kids and neither of us can work from home. And no, we don’t collect any unemployment but even if we did we wouldn’t be getting more because there is a max.

amother

Goldenrod ↓

Fri, Apr 17 2020, 5:38 am

amother [ Mint ] wrote:

I'm not sure why everyone is so happy.
It's deducted from next year's tax return. Its not like the government is giving an addition.

Only if you made enough more money in 2019 that made you ineligible.

amother

↑ Goldenrod ↓

Fri, Apr 17 2020, 5:40 am

amother [ Magenta ] wrote:

A boss can then say his employees quite and aren’t eligible if they really refuse to work.
There are grants businesses can get to keep employees. Some employees would rather go on unemployment. But bosses can fight it because it will cost them.

Depending on company size employees can take extended sick leave if don’t have child care - but there are lots of rules around it.

amother

↑ Goldenrod ↓

Fri, Apr 17 2020, 5:54 am

amother [ Pink ] wrote:

Because supposedly someone maybe $150,000 a year has more reserves than someone making $15,000 a year.

Maybe this will teach people with high incomes not to spend it all.

Maybe you don’t know how much life costs.

Someone making 15k is getting 1000s in benefits. (Food, health, housing, utilities, cell) It is impossible that is their income unless they live with their parents

150,000 for large family doesn’t go as far as ppl imagine. These are examples of some fixed expenses:

25,000 - taxes
14,000+ - insurance
10,000 - ma’aser
30,000 - morgage
12,000 - property tax
30,000 - tuition
4,000 - babysitting
12,000 - food
4,000 - clothing + shoes + coats + breifcases, etc (very low(
1200 - phone + internet
600 - car expenses
2500 - car insurance
800 - cell phones
1200 - home insurance
8,000 - utilities
3000 - copays, deductibles for medical
1000 + - dental expenses (over insurance )
1000 + - vision expenses over insurance

Etc.

amother

Pewter

Fri, Apr 17 2020, 5:59 am

If you make more money, you presumably have access to alternative forms of savings and credit like credit cards that poorer people do not. We don't qualify for stimulus checks and have made a lot less money but we have assets and can see a way through whereas some people have lost their jobs, cannot afford food for their kids, etc. Also, unfortunately, many people who would benefit do not qualify because they made too little to file or didnt file etc. So that is unfortunate for them.

amother

Mistyrose

Fri, Apr 17 2020, 5:59 am

amother [ Mint ] wrote:

I'm not sure why everyone is so happy.
It's deducted from next year's tax return. Its not like the government is giving an addition.

So that means people who get a refund will get $1200 less?

amother

↑ Chartreuse ↓

Fri, Apr 17 2020, 6:04 am

amother [ Pewter ] wrote:

If you make more money, you presumably have access to alternative forms of savings and credit like credit cards that poorer people do not.

That's an incorrect presumption.

amother

↑ Cobalt ↓

Fri, Apr 17 2020, 6:05 am

amother [ Mistyrose ] wrote:

So that means people who get a refund will get $1200 less?

It will not affect a refund. This is separate from tax payments.