[Mb73288]

Originally Posted by UncleWede

Really just an advanced payment of a tax credit for the 2020 tax year.

That's 100% false .

[E91WAG3N]

Originally Posted by ky0u

I don't know if 99k is the threshold for full amount. Maybe the threshold for receiving anything at all?

My AGI on last year's tax return was mid 90k. The stim check I received was only a couple hundred

Different thresholds depending on if you're filing as single, head of household, or jointly.

My wife and I make under $150k combined since she stays at home now and we received the full amount plus $500 each for our 2 kids.

https://www.irs.gov/newsroom/economi...u-need-to-know

"Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible."

The interesting part of all of this is that it's only looking at personal income, not assets.

[Dog Face Pony Soldier]

Life can be funny sometimes. Being unemployed part of last year kept me under the threshold. I mentioned someplace else that the $600/week for my 10 hour/week DJ gig being furloughed is the real help. I'm saving it for now, but I have my eye on a wall-mounted squat rack I'll squeeze into my bedroom. I'm a bachelor, I can get away with doing dumb shit like that.
Likely to go with this PRX model... https://prxperformance.com/products/...21756455026772

[upstatedoc]

nice, you're getting a squat rack and i'm getting squat

[Housekeeping]

Originally Posted by rcracin

Pretty sure most owners here aren’t eligible for a stimulus check. And if anyone on here is, they should reconsider their priorities and whether they should be owning an m3 while being eligible for a government stimulus payment.

AMEN

[purpl3ish]

apparently everyone's buying sunglasses from our site

[IllSic_Design]

Originally Posted by Mb73288

That's 100% false .

I did a little research on this the other day and technically it is supposed to be an advance for 2021 but later on in the bill with how its written it pretty much clears the debt/advance immediately when you receive the money. Something like that, it's on snopes.

Originally Posted by Sy1616

AMEN

Hey geniuses, not everyone on here drives a brand new $100k M.

[E91WAG3N]

Originally Posted by IllSic_Design

Hey genius', not everyone on here drives a brand new $100k M.

The old M's drive better anyways

[damnitBobby]

Originally Posted by ASAP

No check for me due to income levels... but what if I got laid off tomorrow?

Oh, I should have savings? Maybe I do... maybe I have over a year's worth? Should I use that to pay rent and be responsible?

Sounds a bit unfair... cmon now people.

...some people are getting free money and their store's revenue is increasing... welcome to anytime dumb asses do a stimulus in this country

Then you file for unemployment

The stimulus isn’t an unemployment payment. It’s money to help get through the times. To soften the blow I guess. If you have a rainy day savings then you were smart and taught well. But most people these days live paycheck to paycheck. Lease payment to lease payment. Mortgage payment to mortgage payment.

Disclosure: I’m not getting anything because of my income.

[AlpineWhite_SJ]

If you do get one, do some good with it. Spend it at your local small business or support a food bank/charity. Don’t give it to some huge company that doesn’t need it or will end up getting some good ol’ corporate welfare.

[F32Fleet]

If for some weird reason I receive one it will be used to pay income tax due for 2019.

I don't expect to be eligible for it. No biggie, I'm still working.

[spazzyfry123]

Originally Posted by upstatedoc

nice, you're getting a squat rack and i'm getting squat

Lololol. I actually busted out laughing.

[UncleWede]

Originally Posted by Dog Face Pony Soldier

but I have my eye on a wall-mounted squat rack I'll squeeze into my bedroom.

And the GF is getting the straps/swing?

Shouldn't this be in the Dating thread?????

[jmg]

Originally Posted by damnitBobby

Disclosure: I’m not getting anything because of my income.

Originally Posted by Sy1616

AMEN

Originally Posted by F32Fleet

If for some weird reason I receive one it will be used to pay income tax due for 2019.

I don't expect to be eligible for it. No biggie, I'm still working.

There is a big difference between income and taxable income.

[Nuckle]

Originally Posted by jmg

Consider this:

Someone makes $100k/yr. The limit for single filers to get anything is $99k. They get nothing.

Someone makes over $200k/yr. They own a business or incorporate and distribute income: <$99k/yr personal income, >$100k corporate income. They get the full amount because they only look at personal income.

Essentially, those who don't make as much, but too much to qualify, get nothing. Those who make twice as much and own a business or make enough to incorporate get the full amount.

Not only that, but they could have (before funding ran out) got an SBA to help float through the quarantine!

It's a very complicated situation.

A lot of us probably got checks while being well over the income limit.

Yea and if you make several hundred thousand a year as an employee you get fucked from both ends with no reach around.

[jmg]

Originally Posted by Nuckle

Yea and if you make several hundred thousand a year as an employee you get fucked from both ends with no reach around.

It depends on the employer. Some will allow for loan out employees which extends benefits, but still allows for a 10-99. Doctors, for example, can use a 10-99 and setup a pass-through entity while still being employed by a hospital and enjoy benefits.

Of course, the stimulus check is incidental. This is primarily a tax strategy to reduce taxable income by taking advantage of corporate tax benefits. Splitting income between personal and corporate income also puts both in a lower tax bracket, which can save tens of thousands a year.

[VisualEcho]

I won't be spending it at all, and if I do, it'll go for bills in 2022.

[Nuckle]

Originally Posted by jmg

It depends on the employer. Some will allow for loan out employees which extends benefits, but still allows for a 10-99. Doctors, for example, can use a 10-99 and setup a pass-through entity while still being employed by a hospital and enjoy benefits.

Of course, the stimulus check is incidental. This is primarily a tax strategy to reduce taxable income by taking advantage of corporate tax benefits. Splitting income between personal and corporate income also puts both in a lower tax bracket, which can save tens of thousands a year.

Wish my company allowed that but they don't. We have guys that W2 $1M+.

[vreihen16]

Originally Posted by AlpineWhite_SJ

If you do get one, do some good with it. Spend it at your local small business or support a food bank/charity. Don’t give it to some huge company that doesn’t need it or will end up getting some good ol’ corporate welfare.

So, you're saying don't run straight to Wal-Mart and send it straight to China by buying a flat-screen TV and some plastic dog poop?

I'm starting to see the logic of using it for hookers and blow.....

[NEfan508]

We file creatively (legally too) I'm getting a check soon if not already? Donating to a local charity, likely a decent food bank, I have some tenants so we agreed 1/2 the rent for April NOT May (covers nearly my costs)

For work: 2020 I'm buying truck(s), I'm buying more construction equipment and upgrading to a larger depot for our storage yard later this spring. (Was on the fence but now I'm 100% doing it)

$100k so far in spending from this crazy contractor.

Personally 2020 I will take holiday around New England shop @ privately owned business as much as possible some corps too

***My brother Nick, committed to spend 3x's more money @ the foxy lady in RI when it's open again *** #champagneRoom

All my purchases will trickledown I'm hoping

In short I'm not rich, I'm not hoarding money, I'll buy what I need and then some because we need the wheels turning more now than ever

I thank god every morning I'm able to wake up and live a very decent life.

"You can only eat 1 steak per night"

[kanovic]

Hookers and blow. But at a socially safe distance though. That is where mine is going.

[RickFLM4]

We’re not getting a check but for those who do and are in a position to spend it, I’d encourage spending at local businesses rather than buying a bunch of stuff on Amazon. Even if that means waiting a while before you can spend it.

The point of a stimulus is to get people to go spend money to stimulate the economy. It is not to help in times of need - other provisions like unemployment and small business support are available for that. Of course going out and spending is difficult to do right now with everything closed and everyone stuck in their houses. It’s more like a subsidy for Amazon and other e-commerce vendors. It would have made a lot more sense to me to hold off until people can actually go out and spend it by going to dinner, movies, local shops, etc.