So what will you be buying with your Trump golf fund....er, um relief check?
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rollin
"Just playin golf pally"
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sad truth is that there are or will be plenty families who truly need it just to put food on the table. And that in itself is a boost in grocery products sales but more importantly keeping people from going hungry .
But even in this time of great need the two major political parties (Dems and Repubs) cant reach an agreement on just how much or where exactly to place it all. Even now they battle for their own political agenda vs the greater needs of the people. You can bet (like the President or not) after all said and done the Dems are going to unfairly use everything about this pandemic to blame on him. Thats already been taking place now. This whole thing is unfortunately yet conveniently the perfect fuel source for the Dems to burn. It couldn't be better for their agenda. And (very sadly) even to the point of putting that agenda ahead of helping the crisis. And im saying this is a sad truth even though im a democrat.
Honestly I think I'll sit on it for a while and see how things turn out. If I get this thing it'll likely end up going toward medical bills. Gotta think clearly.
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Yeah, I'll be sitting on mine for a while, regardless.
Probably will use it to help my nephews and nieces help recover some of their losses. Most are out of a job right now. My business will suffer, can't see to many people wanting to build a new home this summer. And I have one home for sale already with no one looking since mid January.
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Use it to pay my taxes.
Same here. Always got a refund when working but have to pay every year in retirement...
I feel ya... we all do.
I will leave the sad truth for another forum .... the truth is we are behind the 8 ball. The sad truth is the government ran a simulation of this exact scenario in October 2019 and the weaknesses they found, and did nothing about, are the exact weaknesses we see now.
As to the stimulus bill, Dems want more money to go to working class ... and I keep googling for updates, and there is not much. I need to analyze the bill for my clients ... and I am waiting and waiting... they will need the loans for their small business to keep people employed.
I hope we quit blaming ... and that people do their job, allocate resources responsibly, other people act responsibly, and we get out of this soon.
RetiredBoomer
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The bleep is not my president, Sean, but if he does send me a check, I will spend it on take out which I'd be buying anyway!
Pretty sure the virus doesn't care what party the person infected is. The economic impact will hit Dems and Reps and even those in the middle between the two parties just as hard.
I was making a joke. But this is a time for partisanship, we'll see if that develops.
mski
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Going to some bills. The gov of PA now says my job and wife's (we work in construction industry) are not essential. So no work residential or commercial construction in PA tomorrow along with other jobs on the gov's list.
There is a chance we won't get the total amount due to our income.
There is a chance we won't get the total amount due to our income.
Not sure we’ll be getting one here. Sad to see that it’s now being held up. What was originally to happen quickly now has become stuck in the mud. Really thought they’d come together and put the people first. What was I thinking? They need to be completely transparent on this so we know where this $ is going. Why am I getting a bad feeling about all this?
Snooksman
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I agree both always place politics on front of our needs.they just need to come together and play politics later.
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Hamfist
I promise not to murder Canadan.
Probably nothing. The only slim possibility would be a 5-wood if I can't seem to get any height on the high-loft three wood I'm going to try to game this year.
Nada, since they are just going to take it back next year.
I will not be getting one so I don't have to worry about thinking what I might spend it on.....
Short term I will save it since we have no idea how long this might go on. I think it will be used to pay bills. I am on commission so the anxiety is kicking in. I will be your Walamrt greeter soon if need be.
DawgGolfer
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Buy some votes for Republicans!
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My spouse is now unemployed but thanks to the bailout I’ll be able to buy at least one pack of gum. Maybe. So yay!
If I dont need it for bills or my office, fingers crossed, then I see a nice long weekend at the beach with the wife and daughter.
I am all set in golf clubs.....dam
I am all set in golf clubs.....dam
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Ha that’s even if we get a stimulus check. If we do I’m sure my wife is spending it right now as I hear her & my daughter talking about clothes.
afaik nothing is law yet. house still needs to finalize and send to president for signature. but we've been getting some info matriculating down to us. forgive me if I have some of this wrong, it's still very new and somewhat fluid.
the amount is $1,200 per individual, $500 per child under age 17. the agi threshold is $75k for single, phasing out at $99k ($5 phaseout for every $100 over $75k). married numbers are double, head of household 50% higher than single. the number is based on agi, not taxable income. so for self-employeds and pass-through owners benefiting from the new sec 199a qbi deduction, the stimulus threshold is BEFORE that deduction.
the stimulus will be considered a credit, available on your 2020 income tax return. there will be a separate form included in that filing in which you calculate the credit. but they want to get money out asap, so the present payment will be an advance of that credit. the form in your 2020 return will reconcile your eligible credit to your advanced credit. what I've read only addresses an additional credit available on your 2020 return if you were entitled to more than you received; I haven't read about what happens if you were paid too much.
they'll start with your 2019 return. if you haven't filed 2019 yet, they'll go by your 2018 return. if you haven't filed 2018 either, it sounds like maybe you're out of luck. for lower income earners who had gross income but no taxable income due to higher standard deduction, allegedly irs will still capture them and issue checks. we'll see.
to be eligible, an individual must have an ssn. an itin is not sufficient.
if your most recently filed tax return requested direct deposit, that is the account to which this payment will be deposited. if payable by check, it will be sent to the address irs has on file. if you've moved, you should have filed form 8822. not sure whether you'll have enough time to get the new address processed.
on the small business and self-employed assistance, the CARE sba loan looks really enticing. my understanding is that there will be a relatively broad set of parameters to confirm whether your business is facing uncertainty due to current economic conditions resulting from covid-19. if the business meets those parameters and has less than 500 employees, they can get up to $10 million based on salaries for individuals making less than $100k, paid sick leave, insurance premiums, and mortgage/rent/utilities. to the extent the loan is used for those purposes, it is forgiveable (rather than subject to forebearance) as long as you retain your staff. that's HUGE. but more details are still forthcoming.
the amount is $1,200 per individual, $500 per child under age 17. the agi threshold is $75k for single, phasing out at $99k ($5 phaseout for every $100 over $75k). married numbers are double, head of household 50% higher than single. the number is based on agi, not taxable income. so for self-employeds and pass-through owners benefiting from the new sec 199a qbi deduction, the stimulus threshold is BEFORE that deduction.
the stimulus will be considered a credit, available on your 2020 income tax return. there will be a separate form included in that filing in which you calculate the credit. but they want to get money out asap, so the present payment will be an advance of that credit. the form in your 2020 return will reconcile your eligible credit to your advanced credit. what I've read only addresses an additional credit available on your 2020 return if you were entitled to more than you received; I haven't read about what happens if you were paid too much.
they'll start with your 2019 return. if you haven't filed 2019 yet, they'll go by your 2018 return. if you haven't filed 2018 either, it sounds like maybe you're out of luck. for lower income earners who had gross income but no taxable income due to higher standard deduction, allegedly irs will still capture them and issue checks. we'll see.
to be eligible, an individual must have an ssn. an itin is not sufficient.
if your most recently filed tax return requested direct deposit, that is the account to which this payment will be deposited. if payable by check, it will be sent to the address irs has on file. if you've moved, you should have filed form 8822. not sure whether you'll have enough time to get the new address processed.
on the small business and self-employed assistance, the CARE sba loan looks really enticing. my understanding is that there will be a relatively broad set of parameters to confirm whether your business is facing uncertainty due to current economic conditions resulting from covid-19. if the business meets those parameters and has less than 500 employees, they can get up to $10 million based on salaries for individuals making less than $100k, paid sick leave, insurance premiums, and mortgage/rent/utilities. to the extent the loan is used for those purposes, it is forgiveable (rather than subject to forebearance) as long as you retain your staff. that's HUGE. but more details are still forthcoming.
