PSA - There is a stimulous calculator on the Washington Post Site

[Anonymous]

HOH, 1 child, 2019 AGI $120k.

I’m getting just over $1200. I’ll put the money in savings since I got a big raise ($30k) in January, and will likely owe the money back next April.

Also, I will likely have to hire a FT babysitter/nanny when I go back to work in May, since schools (and SACC) will be closed, and I don’t have six weeks of PTO or a spouse to split the time with. A family with a single earner and a SAHP would not incur this expense.

[Anonymous]

Really 17:43. "... half as much space" ? You are grasping at straws.

[Anonymous]

It's crazy to me that this says we'll get over $3000 (married with two kids). I'm surprised.

[Anonymous]

I am hoh, agi 147k, one kid and get nothing. I am required to work during this pandemic with a high risk for catching the disease because of my job.

[Anonymous]

Anonymous wrote:

Should be per household. Penalizes single parents who get $0 while making the same income as a childless married couple or family with one earner making the same or more. In both situations there is just one earner. How does that make sense?

Yes this makes no sense to me - I’m HOH with 2 dependents and make $160k. I get nothing but my friend who is a SAH and whose husband makes $160 will receive $3400

This is only gonna make you madder. We grossed $201k on wages, interest, and dividends. After maxing out 2 401k’s and an HSA, our AGI is only $156k. We’re getting a $2100 check. Feels pretty, pretty, pretty good to rewarded for sacrificing and saving.

Use this opportunity to learn why reducing AGI as much as possible really pays off in the long run:
https://www.irs.gov/newsroom/lowering-agi-this-year-can-help-taxpayers-when-they-file-next-year

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Should be per household. Penalizes single parents who get $0 while making the same income as a childless married couple or family with one earner making the same or more. In both situations there is just one earner. How does that make sense?

Yes this makes no sense to me - I’m HOH with 2 dependents and make $160k. I get nothing but my friend who is a SAH and whose husband makes $160 will receive $3400

This is only gonna make you madder. We grossed $201k on wages, interest, and dividends. After maxing out 2 401k’s and an HSA, our AGI is only $156k. We’re getting a $2100 check. Feels pretty, pretty, pretty good to rewarded for sacrificing and saving.

Use this opportunity to learn why reducing AGI as much as possible really pays off in the long run:
https://www.irs.gov/newsroom/lowering-agi-this-year-can-help-taxpayers-when-they-file-next-year

Okay, it might feel good to gloat, but you so understand that the HOH PP you responded to can only reduce his/her AGI by half or less than what you can? And you’re assuming they haven’t already done so. Let’s say they don’t reduce it at all. Even if it were reduced down to $136k by maxing a 401k and an HSA, he/she still would get barely anything at the HOH income phaseout. Think about that, they’d get way less at the same or less AGI as you.

That just felt like an unnecessary and mean-spirited brag. Enjoy your stimulus check, though!

[Anonymous]

Anonymous wrote:That may answer a lot of questions people have if they qualify.

FWIW, I confirmed we will not and I am fine with that we are a two fed family with secure jobs that can be done remotely. I thank that is correct.

Honest question here......why does it matter what I made back in 2018 (when times were good)? I don't qualify because of that, and lost job now due to circumstances, and therefore get nothing in the stimulus. Am I reading that correctly?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Should be per household. Penalizes single parents who get $0 while making the same income as a childless married couple or family with one earner making the same or more. In both situations there is just one earner. How does that make sense?

Yes this makes no sense to me - I’m HOH with 2 dependents and make $160k. I get nothing but my friend who is a SAH and whose husband makes $160 will receive $3400

This is only gonna make you madder. We grossed $201k on wages, interest, and dividends. After maxing out 2 401k’s and an HSA, our AGI is only $156k. We’re getting a $2100 check. Feels pretty, pretty, pretty good to rewarded for sacrificing and saving.

Use this opportunity to learn why reducing AGI as much as possible really pays off in the long run:
https://www.irs.gov/newsroom/lowering-agi-this-year-can-help-taxpayers-when-they-file-next-year

Are you sure it is going to pay off in the long run? U.S. deficit in 2020 will probably be more than 3 trillion dollars. Current debt is more than 100% of GDP. Taxes are going to have to increase dramatically. Your 401k contribtions saved you money today. Long term...the government is going to tax the hell out of you (or else renege on their debts which would collapse the entire economy). Sleep tight!

[Anonymous]

So does everyone get the 500/kid? Or are high earners exempt from that, too?

[Anonymous]

I find it amusing I got laid off and have two kids in college and qualify for nothing.

[Anonymous]

Anonymous wrote:So does everyone get the 500/kid? Or are high earners exempt from that, too?

No, you only get the $500/kid if your income qualifies.

[Anonymous]

$174,000 adjusted
One dependent
$1,665 stimulus according to the site

[Anonymous]

I feel for my fellow HoH filers. While I qualify, its no joke finding coverage when schools are closed, but you're still essential staff.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That may answer a lot of questions people have if they qualify.

FWIW, I confirmed we will not and I am fine with that we are a two fed family with secure jobs that can be done remotely. I thank that is correct.

Honest question here......why does it matter what I made back in 2018 (when times were good)? I don't qualify because of that, and lost job now due to circumstances, and therefore get nothing in the stimulus. Am I reading that correctly?

Yes. They chose speed over precision. Not everyone has filed their 2019 taxes yet, and even those wouldn’t reflect job losses in early 2020. The package includes expanded UI (both expanded eligibility and larger checks) that might help you, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That may answer a lot of questions people have if they qualify.

FWIW, I confirmed we will not and I am fine with that we are a two fed family with secure jobs that can be done remotely. I thank that is correct.

Honest question here......why does it matter what I made back in 2018 (when times were good)? I don't qualify because of that, and lost job now due to circumstances, and therefore get nothing in the stimulus. Am I reading that correctly?

Yes. They chose speed over precision. Not everyone has filed their 2019 taxes yet, and even those wouldn’t reflect job losses in early 2020. The package includes expanded UI (both expanded eligibility and larger checks) that might help you, though.

I think what is a little sad is that some people wouldn’t have filed their 2019 taxes already if they knew it would push them over the income limit (like me). I still have my job, luckily, but some others might not and now see screwed out of anything while those whose 2018 income qualified them are getting funds.