Good Sam Club Open Roads Forum: Stimulus Check , what are you going to do with yours ?
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 > Stimulus Check , what are you going to do with yours ?

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LJAZ

Arizona

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Posted: 04/04/20 10:23am Link  |  Quote  |  Print  |  Notify Moderator

We have a local nonprofit that is buying takeout food from the restaurants and distributing it to the healthcare workers so that's where mine is going. Supports the local businesses and gives some relief to those on the front lines!


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rexlion

Broken Arrow OK

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Posted: 04/04/20 10:31am Link  |  Quote  |  Print  |  Notify Moderator

We will use the money to buy food, pay the light, gas, and water bills, etc. Thanks to the school closures I'm out of work until fall.


Mike G.
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Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. --Benjamin Franklin
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NRALIFR

Truck Camping Out West

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Posted: 04/04/20 10:32am Link  |  Quote  |  Print  |  Notify Moderator

ScottG wrote:

troubledwaters wrote:

gbopp wrote:

Nutinelse2do wrote:

1320Fastback wrote:

Put it in the savings account for when the feds come calling for it back.


This ^^^^^^

It’s a tax credit towards 2020 folks.

That's a taste of reality. [emoticon]
Except it's totally false unless you owe back taxes.


That's right. To be clear, the stimulous check isn't taxable and has no effect on your 2020 taxes.


True, but it is an advance of an anticipated refund you will get in 2021 when when you file your 2020 tax forms. If you don’t typically get a refund that large, you might want to make plans accordingly.

[emoticon][emoticon]


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maddog348

Bakersfield,CA

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Posted: 04/04/20 10:35am Link  |  Quote  |  Print  |  Notify Moderator

What stimulus check. You gus are spending like its 100K' Not everyone even gets one. JM2¢ YMMV





RockyMt

Castle Rock Colorado

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Posted: 04/04/20 10:41am Link  |  Quote  |  Print  |  Notify Moderator

Help pay my taxes!!

ScottG

Bothell Wa.

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Posted: 04/04/20 11:25am Link  |  Quote  |  Print  |  Notify Moderator

NRALIFR wrote:

ScottG wrote:

troubledwaters wrote:

gbopp wrote:

Nutinelse2do wrote:

1320Fastback wrote:

Put it in the savings account for when the feds come calling for it back.


This ^^^^^^

It’s a tax credit towards 2020 folks.

That's a taste of reality. [emoticon]
Except it's totally false unless you owe back taxes.


That's right. To be clear, the stimulous check isn't taxable and has no effect on your 2020 taxes.


True, but it is an advance of an anticipated refund you will get in 2021 when when you file your 2020 tax forms. If you don’t typically get a refund that large, you might want to make plans accordingly.

[emoticon][emoticon]


As part of the stimulous, a new tax credit was created for your 2020 taxes that you do in 2021. You are getting that money now so when you do your 2020 taxes, it will be a wash. You will not owe anything more than you would have before the stimulous unless you make a LOT more money than you did in 2019. As you probably know, your stimulous check will be based off your 2019 earnings.


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2oldman

New Mexico

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Posted: 04/04/20 11:42am Link  |  Quote  |  Print  |  Notify Moderator

No o.

joelc

Cedar Point, NC

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Posted: 04/04/20 03:49pm Link  |  Quote  |  Print  |  Notify Moderator

I am going to by myself some face masks. [emoticon] Really, though, savings, just in case an emergency arises. Lost a lot in stocks.

CavemanCharlie

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Posted: 04/04/20 04:37pm Link  |  Quote  |  Print  |  Notify Moderator

Lwiddis wrote:

Very generous idea regarding the amusement park but giving money to the county? If the county needs money it will raise taxes, beg the state.


Specifically, to the county Parks Department. They would have gotten it anyway by my camping at their parks. And, by helping out the Parks Department they won't have to raise taxes or beg the state; as you put it. But, now that you mention it, it would be best if I ear marked it for the new playground equipment. They have a fund raiser going on for that now and the park does need some.

I do agree with some of the posters thought that said "Don't count your chickens until they are hatched". The money isn't here yet.

And, I am going to use some of it for local business and parks, some of it I will save.

CavemanCharlie

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Posted: 04/04/20 04:42pm Link  |  Quote  |  Print  |  Notify Moderator

bob_nestor wrote:

Crowe wrote:

I won't be getting one, which is fine. As someone else stated the purpose of this is to jump start the economy. My son plans on spending his eating out in order to help out what restaurants survive. However, there will be many who will need to replenish savings or use it on bills.


Ditto. I've got a feeling a lot of people may not have read the fine print about those stimulus checks, or maybe they're living a bit too close to the edge financially to be RVing.


I guess that depends on what you consider RVing. You don't have to be making 90000 a year (or whatever) to purchase a Pop Up, a Travel Trailer, or even a cheaper 5th Wheel, and go camping at your local parks.

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