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Re: paying back our stimulus..no refund [Re: foxkidd44] #7153542
01/25/21 09:52 AM
01/25/21 09:52 AM
Joined: Dec 2006
Posts: 62,664
Minnesota
330-Trapper Online content

trapper
330-Trapper  Online Content

trapper

Joined: Dec 2006
Posts: 62,664
Minnesota
Good Deal^^^


NRA and NTA Life Member
www.BackroadsRevised@etsy.com




Re: paying back our stimulus..no refund [Re: BernieB.] #7153560
01/25/21 10:09 AM
01/25/21 10:09 AM
Joined: Dec 2006
Posts: 7,475
WI>>>MN >>>WI
T-Rex Offline
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T-Rex  Offline
trapper

Joined: Dec 2006
Posts: 7,475
WI>>>MN >>>WI
Originally Posted by BernieB.
Originally Posted by Squash
Your grandchildren have to pay it back.


Our grandchildren will be standing in a soup line.

Hoping that maybe today there might really be soup at the end of it.


Man who mistake shillelagh for fairy wand; see pixie dust, also.
Re: paying back our stimulus..no refund [Re: foxkidd44] #7153561
01/25/21 10:12 AM
01/25/21 10:12 AM
Joined: Dec 2006
Posts: 1,476
Central IA
TRapper Offline
trapper
TRapper  Offline
trapper

Joined: Dec 2006
Posts: 1,476
Central IA
Won't get a refund here...they will just tack it on

Re: paying back our stimulus..no refund [Re: foxkidd44] #7153601
01/25/21 10:54 AM
01/25/21 10:54 AM
Joined: Dec 2010
Posts: 11,136
Armpit, ak
D
Dirt Online content
trapper
Dirt  Online Content
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D

Joined: Dec 2010
Posts: 11,136
Armpit, ak
So if I gave it away, can I deduct it a s a charitable donation?


Who is John Galt?
Re: paying back our stimulus..no refund [Re: Dirt] #7153640
01/25/21 11:49 AM
01/25/21 11:49 AM
Joined: May 2016
Posts: 3,492
Southern Illinois
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Foxpaw Offline
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Foxpaw  Offline
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Joined: May 2016
Posts: 3,492
Southern Illinois
Originally Posted by Dirt
So if I gave it away, can I deduct it a s a charitable donation?




I'm no tax person but I think you would have to itemize you deductions and unless they are huge the average guy is better off taking your standard deduction. But there is a Cares Act that due to the virus you can deduct up to $300 for certain charity's for 2020. Might be better off spending it on deductible business expense. Your still putting the money in circulation, which needs to happen.

Back in Bushes stimulus people saved it or paid off debt instead of buying stuff. Of course I think that was more about saving the institutions than helping the economy. It was too late for Fannie and Freddie. It did help small business by letting them spend and get an extra 50% off as deductions. I believe people will be putting more of this money back into actual new goods more so than in the Bush days.

If you don't understand filing your taxes get someone that does. For certain income and age groups, I think there is gov and private tax help for free or little charge.

Re: paying back our stimulus..no refund [Re: foxkidd44] #7154401
01/25/21 09:27 PM
01/25/21 09:27 PM
Joined: Feb 2014
Posts: 13,059
Ky
J
jbyrd63 Offline
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jbyrd63  Offline
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J

Joined: Feb 2014
Posts: 13,059
Ky
This ^^^^^ Filing has changed standard deduction did away with pidddly receipts and scrounging around for write offs....

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