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What are you buying with your $1200 check?

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balloonshark

Diamond Member
Jun 5, 2008
4,564
971
136
I probably don't qualify. If I do get a check and the check or envelope mentions Trump, Republicans or GOP the money will be donated to the Democratic primary winner's campaign. Sorry to get all political but you asked.
 
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Synomenon

Lifer
Dec 25, 2004
10,528
5
81
Put it away. Aren't they going to try getting this money back during tax time the next couple of years?
 

boomerang

Lifer
Jun 19, 2000
18,897
638
126
Don't forget about having to pay federal, state and local taxes as well as SS/Medicare taxes. The lucky ones won't find that the check pushed them into a higher tax bracket.

I've read at numerous places about who will qualify but nowhere have I read how the tax situation is going to be handled. So the above is not for certain but I would think that it is highly likely. I'd be amazed if it was tax free.
 

nakedfrog

No Lifer
Apr 3, 2001
50,609
3,270
126
Don't forget about having to pay federal, state and local taxes as well as SS/Medicare taxes. The lucky ones won't find that the check pushed them into a higher tax bracket.

I've read at numerous places about who will qualify but nowhere have I read how the tax situation is going to be handled. So the above is not for certain but I would think that it is highly likely. I'd be amazed if it was tax free.
Tell me, how exactly do you think tax brackets work?
 

JEDIYoda

Lifer
Jul 13, 2005
33,389
3,035
126
If this is truly a gift and not counted as income then maybe you will not have to pay taxes.....
 
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IronWing

No Lifer
Jul 20, 2001
61,140
13,984
136
The 2008 stimulous checks were formally tax rebates so were not taxed. I don't know about the currently proposed checks.
 

mopardude87

Diamond Member
Oct 22, 2018
3,348
1,569
96
Either going 3700x/3900x or maybe i will save it towards a 360 magnum crate from summit racing. The check won't clear the motor but between savings and the check oh yes. Gonna be fun dropping a 320hp stock motor into a dart/valiant/duster/demon. Most likely a 65 gt with bucket seats i found, it has the v8 option already so the swap would be SO easy. Then gotta check out the gear in the rear. Doubt its sporting a 8 3/4 rear end.

 

bfun_x1

Senior member
May 29, 2015
474
154
116
I'll be paying off my Daughters $1600 dentist bill. I should have become a dentist.
 

Svnla

Lifer
Nov 10, 2003
17,553
1,150
126
Buy almost 2/3 ounce of gold? 1 oz (gold coin) is about $1800 US as of today.
 

Ferrari355

Golden Member
Jul 29, 2000
1,206
18
81
Don't forget about having to pay federal, state and local taxes as well as SS/Medicare taxes. The lucky ones won't find that the check pushed them into a higher tax bracket.

I've read at numerous places about who will qualify but nowhere have I read how the tax situation is going to be handled. So the above is not for certain but I would think that it is highly likely. I'd be amazed if it was tax free.
There aren't any state or local income taxes where I live.
 

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