Thankyou to the US goverment- "I am going to Disney World"

[capecodhome]

I am hoping with the extra tax money the goverment is giving to us to put back in the economy, I will put money down for a vacation in 2009 :sohappy:.

 

[Master Yoda]

We always have so many deductions, it's been ages since we've had to pay any federal or state taxes. :lol:

Can I borrow a few? The last couple of years we made just enough to knock us into that insane 25% +/- tax bracket and we have wound up owing in excess of $2000 last year alone. This year looks to be better though. We made a little less, increased our withholdings and added another deduction.

 

[sweetpee_1993]

Our income so dramatically increased this year. We're actually a bit nervous about what our taxes are going to look like.

As for the chunk that Uncle Sam is going to give everyone, I'll be excited when the check is in my hand. Otherwise, business as usual. $1800 sure would be nice. I would pay it towards our credit debts. Our goal is to have both credit cards and a consolidation loan paid off by the end of the year. I should be 3/4 there by June. :sohappy:

 

[Laura]

Can I borrow a few? The last couple of years we made just enough to knock us into that insane 25% +/- tax bracket and we have wound up owing in excess of $2000 last year alone. This year looks to be better though. We made a little less, increased our withholdings and added another deduction.

We really make out good being in the military. I think my husband made about 60 grand last year, but only 17 of it was taxable (had a lot of tax-free combat pay, and our housing and food allowances don't count as income to the IRS), so the government considers us really poor. We get all kinds of credits and stuff for being such a sad, poverty stricken home with 2 children who have to wear pillowcases for clothes. :lookaroun We also had over 22 grand in deductions which gave us a full refund on the few taxes we did pay.

 

[JDM]

So...

You're grateful to the Government because they're giving you back your money?

No wonder politicians invariably have self-satisfied, smug looks on their faces 24/7...

:dazzle:

BRAVO! Exactly what I was thinking!
This is OUR money to start with, and the fact that they are giving it back just proves they've taken too much in the first place!
And I just LOVE that we are giving tax rebates to people who don't PAY taxes! Talk about "new math"!

Anyway, having said all that....if it happens it will be nice for everyone who gets a check. And I'd be lying if I said I wouldn't consider applying it to a vacation fund....

 

[SallyShine]

If you make over a certain amount, no refund check. :brick:

 

[stmize]

I think we will plan a trip too--DH just doesn't know it yet!!!!!!!!!:ROFLOL:

 

[shawn]

KNOW WE CAN UPGRADE TO NICER ACCOMODATIONS WITH OUR REBATE CHECK, WE HAVE 3 KIDS THAT MEANS $2100.00. Good bye Port Orleans hello Beach Club

 

[TomDisney]

I'm single and I make too much...I ain't gettin' nuttin'

 

[maryt01]

this a.m. reports say that this check will not be counted as income. it is free from irs. can someone verigy my understanding ?

 

[Carolwood]

it is nice to use that for a vacation but you do realize you have to pay it back at the end of the year. same thing they did a few years ago but we got 600 instead. i did not know when you filed you tax return at the end of the year they took it back again.....IMO this will not do anything to the economy since we have to pay it back...whats the point. ours will go towards paying off a credit card. but we are still going to disney anyway, hope you do to

Bears163 you are 100 percent right! Go ahead and spend it, just be prepared to give it back(in the way of reporting it as income on next years tax return). Hey bears163 are you Hershey Bears Fan by chance as your screen name and location may suggest? Going to the game on Sat.?

 

[bgraham34]

It still has not been officially finalized. I am sure it will though. As for me I would love to put it towards a trip to the World. But I think the wife wants to do work to the house.

 

[Master Yoda]

We really make out good being in the military. I think my husband made about 60 grand last year, but only 17 of it was taxable (had a lot of tax-free combat pay, and our housing and food allowances don't count as income to the IRS), so the government considers us really poor. We get all kinds of credits and stuff for being such a sad, poverty stricken home with 2 children who have to wear pillowcases for clothes. :lookaroun We also had over 22 grand in deductions which gave us a full refund on the few taxes we did pay.

IMHO active military, especial combat deployed military shouldn't have to pay a dime in taxes. You DH and his buddies put their lives on the line every day in some god forsaken desert so I can sit comfortably in the US and complain about taxes and the price of my daughters class ring. As far as I am concerned that buys them tax free status.

 

[slappy magoo]

If you make over a certain amount, no refund check. :brick:

Yeah, I for one won't be getting squat. So all of you who pay little to nothing in taxes AND GET A REBATE, you're going to WDW with money of people like me who technically "make too much" even though we live in areas with the highest property values, rents, property taxes and insurance in the nation. The least you could do is buy us a t-shirt.

Also, at the risk of being a bubble-burster, when you consider how mind-bogglingly deep the national debt is, and what a wallet-drainer the war is, not to mention the tax cuts for the richest 1 percent, I'd suggest buying some bonds so your grandkids will be able to go to WDW one day, because they're the ones who'll be trying to pay down the debt. They'll need it.

 

[bears163]

Bears163 you are 100 percent right! Go ahead and spend it, just be prepared to give it back(in the way of reporting it as income on next years tax return). Hey bears163 are you Hershey Bears Fan by chance as your screen name and location may suggest? Going to the game on Sat.?

LOL yes i am a bears fan but since we have had a few kids it is difficult to go to many games anymore. i keep track of how the teamis doing though.

 

[bears163]

Yeah, I for one won't be getting squat. So all of you who pay little to nothing in taxes AND GET A REBATE, you're going to WDW with money of people like me who technically "make too much" even though we live in areas with the highest property values, rents, property taxes and insurance in the nation. The least you could do is buy us a t-shirt.

Also, at the risk of being a bubble-burster, when you consider how mind-bogglingly deep the national debt is, and what a wallet-drainer the war is, not to mention the tax cuts for the richest 1 percent, I'd suggest buying some bonds so your grandkids will be able to go to WDW one day, because they're the ones who'll be trying to pay down the debt. They'll need it.

i can not agree with you more. this so called tax break is not going to help many people really. it will help the big business out alot but for the middle class unless they use it to pay off bills it won't help.

 

[Laura]

IMHO active military, especial combat deployed military shouldn't have to pay a dime in taxes. You DH and his buddies put their lives on the line every day in some god forsaken desert so I can sit comfortably in the US and complain about taxes and the price of my daughters class ring. As far as I am concerned that buys them tax free status.

Aw thanks. *hugs*

We get a lot of tax breaks. I am happy with how it works out. We get all our taxes back each year anyway because of deductions.

Yeah, I for one won't be getting squat. So all of you who pay little to nothing in taxes AND GET A REBATE, you're going to WDW with money of people like me who technically "make too much" even though we live in areas with the highest property values, rents, property taxes and insurance in the nation. The least you could do is buy us a t-shirt.

Don't blame me! I didn't ask for the money! :lol: (Plus I'm not using it to go to WDW, even though I'd like to!)

Move to a less expensive area if it's hard living there? :shrug:

 

[Mikester71]

So...

You're grateful to the Government because they're giving you back your money?

No wonder politicians invariably have self-satisfied, smug looks on their faces 24/7...

:dazzle:

:ROFLOL::ROFLOL::ROFLOL:

 

[ypcat]

If it works like the one 2001(?), the check you get in the summer will be counted against the rebate (or taxes you have to pay) next year. So no, it isn't counted as income, it is counted as an early rebate. Then again, since they are giving it to people who don't pay taxes anyway *boggle*, maybe it will work different this time.

 

[tigsmom]

You do not have to give it back but it will be reported as income on your 2008 taxes so Uncle Sam will get his cut in the end.

It looks like we will be getting $2100 if I worked the math correctly (me+ wife + 3 kids) and it will go directly into savings. Until the housing market picks up there are far to many rainy days on the horizon.

$1800 for us and it will go to either the bank or towards college tuition.

I don't think anybody saves for a rainy day anymore, too bad...

 

[Mikester71]

I am still trying to figure out if my wife is entitled to this. I am Canadian and we live in Canada, but she is American and works in the U.S., so therefore pays taxes in both countries (lucky us). :shrug: