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This is a topic from the Current Politics and Religious Topics forum on inthe00s.
Subject: Economic Stimulus - Bush Style
Written By: danootaandme on 02/25/09 at 4:40 pm
Well, I just finished my income tax and this year will net from state and fed about $150. I usually do much much better, but I'd forgotten about that "stimulus" check sent out last year. I got $900. That $900 is deducted from this years tax return. You see it was an advance on this years money. So if you got a "stimulus" check expect to see a smaller return this year.
Subject: Re: Economic Stimulus - Bush Style
Written By: Macphisto on 02/25/09 at 5:08 pm
I suppose that means I'll owe the state some. I usually break even, but I got $600 last year.
Subject: Re: Economic Stimulus - Bush Style
Written By: danootaandme on 02/25/09 at 7:23 pm
I owe the state, and will get some back from the fed. Plus and minus it out, I end up with about $125.
Subject: Re: Economic Stimulus - Bush Style
Written By: Dagwood on 02/26/09 at 10:50 am
Not on mine. The only question I was asked was if I received the credit. I use Tax Act and just looked over my forms. It didn't even come to play in my refund. The only thing deducted from tax withheld in was taxes owed.
Isn't your son 17? If so then maybe that is why your refund is so small...I don't think the child tax credit counts for 17 year olds. I know without that I would have owed.
Subject: Re: Economic Stimulus - Bush Style
Written By: Jessica on 02/26/09 at 11:00 am
No taxing on my part, but my parentals have to pay the government about $20,000. Why, you ask? Because the geniuses at Social Security gave him several lump sum payments, half of which is taxable. I'm thinking it was on purpose since they knew they'd recoup some of their money in taxes this year. ::)
Luckily, they're prepared for it, but my dad asked the obvious question, "Why the f*ck are you going to pay me for my disability and then take it away from me?" No response yet. :P
Subject: Re: Economic Stimulus - Bush Style
Written By: tv on 02/26/09 at 12:57 pm
Well, I just finished my income tax and this year will net from state and fed about $150. I usually do much much better, but I'd forgotten about that "stimulus" check sent out last year. I got $900. That $900 is deducted from this years tax return. You see it was an advance on this years money. So if you got a "stimulus" check expect to see a smaller return this year.
The "Bush Stimulus Checks" expire in 2011 so you won;t have to worry about it in 2 years.
Subject: Re: Economic Stimulus - Bush Style
Written By: danootaandme on 02/26/09 at 4:21 pm
Not on mine. The only question I was asked was if I received the credit. I use Tax Act and just looked over my forms. It didn't even come to play in my refund. The only thing deducted from tax withheld in was taxes owed.
Isn't your son 17? If so then maybe that is why your refund is so small...I don't think the child tax credit counts for 17 year olds. I know without that I would have owed.
Partly because I was on unemployment. You have to pay taxes on unemployment(a Ron Reagan thing).
Subject: Re: Economic Stimulus - Bush Style
Written By: Dagwood on 02/26/09 at 5:10 pm
Partly because I was on unemployment. You have to pay taxes on unemployment(a Ron Reagan thing).
Taxes on Unemployment and disability.....because they give so much in the first place. ::) Insane. We should all be rich so you can use the loopholes and not have to pay taxes. ;)
Subject: Re: Economic Stimulus - Bush Style
Written By: danootaandme on 02/27/09 at 6:50 am
I pay taxes on unemployment, yet companies can deduct their "retreats" to country clubs and resorts as business expenses.
Subject: Re: Economic Stimulus - Bush Style
Written By: Dagwood on 02/27/09 at 10:39 pm
I pay taxes on unemployment, yet companies can deduct their "retreats" to country clubs and resorts as business expenses.
Gotta love the "fairness" in the tax system. ::)