Stimulus check
Melting Slicks
Joined: Jan 2016
Posts: 2,398
Likes: 768
From: jefferson texas
I am prayfully considering giving mine to some families that I know who need it more than me. One family I know is out of work and husband is a really good carpenter and I need another building for my toys and he needs the work so I may give him the job, help me and him out. Not rich but my retirement checks keep coming. Be well to all.
Melting Slicks
Joined: Nov 2016
Posts: 2,305
Likes: 1,581
From: East Metro (Twin Cities) Minnesota
St. Jude Donor '21
Such high time livers here in C5 section; bunch of "I am too wealthy for a stimulus check"...lmao.
No stimulus for me...nor unemployment. I've been on the "hustle" for 3.5yrs doing contract stuff, credit rehab clients, "gigs" such as video/commercials, social media marketing, tuning HpTuner, diagnostics locally, etc so...no unemployment and no stimulus for me...I don't want government money anyway, they can keep their f'n money...prob lead to audits later or some bs. At this stage I'm down to about 20% of what I was making 2 months ago, and my gf is full stop (she is also self employed hair stylist...leases booth space). Lucky for me I was homeless for several years in my youth so, being evicted to the street won't be a new experience come June or July. My gf will likely stay with a co-worker. I'm personally enjoying the time with my gf though, she's home all the time now...been great to spend time and chill...we are in the calm before the real storm. Vegas is goin in the tank over this, that's for sure....this place will take yrs to recover.
I already know a handful of business owners who won't be reopening, which means a lot of people with no jobs as well. The evictions in this city are going to be massive once the "switch" is turned back to "on" for evictions. People are gonna be behind, no way around it. This unemployment has a backlog a month long already and they haven't accepted new applications for weeks...this fed money gonna be full of red tape and Vegas has a lot of "gigs", 1099'ers, etc....street performers, Uber, actors, dancers, etc...it's a city on the hustle...none of these people have unemployment eligibility and regardless what headline is on the news; that money is covered in red tape or will have consequences attached. The real pandemic hasn't even started yet....this is nothin.
In Nevada evictions are swift versus Pa, or Ga...other states I've lived. You can stretch an eviction through appellate court for months in Pa. In Nevada it's swift, 14 days or less through appeal and all. Police come to the door and give you 5 min to grab what you can and that's it.
Oh well...I'm just chillin enjoyin the time. So, none of you big money guys have to worry about us low folk (my gf and I) takin your tax dollars. We both drive Corvettes daily (hers is an 09 6spd base) and you'd never know we're both losers...lol.
No stimulus for me...nor unemployment. I've been on the "hustle" for 3.5yrs doing contract stuff, credit rehab clients, "gigs" such as video/commercials, social media marketing, tuning HpTuner, diagnostics locally, etc so...no unemployment and no stimulus for me...I don't want government money anyway, they can keep their f'n money...prob lead to audits later or some bs. At this stage I'm down to about 20% of what I was making 2 months ago, and my gf is full stop (she is also self employed hair stylist...leases booth space). Lucky for me I was homeless for several years in my youth so, being evicted to the street won't be a new experience come June or July. My gf will likely stay with a co-worker. I'm personally enjoying the time with my gf though, she's home all the time now...been great to spend time and chill...we are in the calm before the real storm. Vegas is goin in the tank over this, that's for sure....this place will take yrs to recover.
I already know a handful of business owners who won't be reopening, which means a lot of people with no jobs as well. The evictions in this city are going to be massive once the "switch" is turned back to "on" for evictions. People are gonna be behind, no way around it. This unemployment has a backlog a month long already and they haven't accepted new applications for weeks...this fed money gonna be full of red tape and Vegas has a lot of "gigs", 1099'ers, etc....street performers, Uber, actors, dancers, etc...it's a city on the hustle...none of these people have unemployment eligibility and regardless what headline is on the news; that money is covered in red tape or will have consequences attached. The real pandemic hasn't even started yet....this is nothin.
In Nevada evictions are swift versus Pa, or Ga...other states I've lived. You can stretch an eviction through appellate court for months in Pa. In Nevada it's swift, 14 days or less through appeal and all. Police come to the door and give you 5 min to grab what you can and that's it.
Oh well...I'm just chillin enjoyin the time. So, none of you big money guys have to worry about us low folk (my gf and I) takin your tax dollars. We both drive Corvettes daily (hers is an 09 6spd base) and you'd never know we're both losers...lol.
This situation is by far the worst in my time here on earth and my heart goes out to the MILLIONS that are being hurt bad by this pandemic.
You have to remember the demographic of many corvette owners (this forum) are 40 to 80 year old folks, many of which are retired. I can see how posts in this thread strike a nerve with some of our forum members. I do not think there is any intent of ill will nor do I think anyone thinks of anyone who is hurt by this a loser. If someone on here has big money - congrats to them, they got an education, worked hard and saved. Many of the "rich" will lose it all too as their businesses close. Many rich and poor will pay for this with their life - or the life of a loved one. If not yet, in the coming weeks & months. So the big money people in america are not immune either. We are all in this together - the virus does not discriminate by your wealth status. I wish you and everyone on this forum the best.
Toys
Melting Slicks
Joined: Jan 2016
Posts: 2,398
Likes: 768
From: jefferson texas
This situation is by far the worst in my time here on earth and my heart goes out to the MILLIONS that are being hurt bad by this pandemic.
You have to remember the demographic of many corvette owners (this forum) are 40 to 80 year old folks, many of which are retired. I can see how posts in this thread strike a nerve with some of our forum members. I do not think there is any intent of ill will nor do I think anyone thinks of anyone who is hurt by this a loser. If someone on here has big money - congrats to them, they got an education, worked hard and saved. Many of the "rich" will lose it all too as their businesses close. Many rich and poor will pay for this with their life - or the life of a loved one. If not yet, in the coming weeks & months. So the big money people in america are not immune either. We are all in this together - the virus does not discriminate by your wealth status. I wish you and everyone on this forum the best.
Toys
You have to remember the demographic of many corvette owners (this forum) are 40 to 80 year old folks, many of which are retired. I can see how posts in this thread strike a nerve with some of our forum members. I do not think there is any intent of ill will nor do I think anyone thinks of anyone who is hurt by this a loser. If someone on here has big money - congrats to them, they got an education, worked hard and saved. Many of the "rich" will lose it all too as their businesses close. Many rich and poor will pay for this with their life - or the life of a loved one. If not yet, in the coming weeks & months. So the big money people in america are not immune either. We are all in this together - the virus does not discriminate by your wealth status. I wish you and everyone on this forum the best.
Toys
Le Mans Master
Joined: Jun 2016
Posts: 5,386
Likes: 3,925
From: Cincinnati, OH
If I get one, it's going in the back to sit on it. Economy is too volatile right now to be spending money stupidly on car mods.
And nothing is free, like people said, come tax time I feel many are going to be crying.
And nothing is free, like people said, come tax time I feel many are going to be crying.
Race Director
Joined: Mar 2004
Posts: 12,466
Likes: 886
From: Fort Wayne IN
2025 C5 of the Year Finalist - Modified
C5 of Year Finalist (performance mods) 2019
2017 C5 of the Year Finalist
2016 C5 of the Year Finalist
2015 C5 of the Year Finalist
I might......MIGHT........get a start on a proper fuel system for my car.
Drifting
Joined: Feb 2010
Posts: 1,923
Likes: 427
From: Dunedin Florida
Geeze Louise. The stimulus payment is a tax REBATE. It is not taxable, you don't have to pay it back next year, and it won't be deducted from your refund.
https://www.grassley.senate.gov/news...very-check-faq
https://www.grassley.senate.gov/news...very-check-faq
Last edited by Crosis; Apr 5, 2020 at 07:24 PM. Reason: Typing on an iPad sucks
Drifting
Joined: Jul 2017
Posts: 1,364
Likes: 471
From: S.E. Pennsylvania
Geez guys, don't get your panties twisted. Check out this link: https://money.com/coronavirus-stimulus-check-irs/
Not taxable, won't be deducted from refunds, depends on your 2019 income. If you earn more next year that's a good thing. It won't affect this year's stimulus check.
Not taxable, won't be deducted from refunds, depends on your 2019 income. If you earn more next year that's a good thing. It won't affect this year's stimulus check.
Drifting
Joined: Oct 2019
Posts: 1,488
Likes: 176
From: Crockett, Texas
We are stacking all our cash right now, and the stimulus check is going in that stack. If I don't get laid off after the price of oil is back over 45 bucks a barrel, then we will do something with the cash.
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No Hostility Be Happy
Joined: Aug 2018
Posts: 10,016
Likes: 7,321
From: South Hill Wa
2022 C5 of the Year Finalist - Modified
2021 C5 of the Year Finalist - Modified
Le Mans Master
Joined: Jun 2016
Posts: 5,386
Likes: 3,925
From: Cincinnati, OH
https://www.dailylocal.com/news/coro...95baa7fd8.html
How does it work?
The stimulus check is not counted as taxable income. Instead, it acts as a credit against 2020 income taxes. This is similar to the previous two iterations of section 6428 that we saw during the Economic Growth and Tax Relief Reconciliation Act in 2001, as well as the Economic Stimulus Act just before the 2008 recession.In essence, the stimulus check acts as an advance of your 2020 income tax refund. This means when you prepare your 2020 income tax return, there will be a line to include the section 6428 credit. The credit on your 2020 return is subtracted by any amount received as a stimulus check in 2020. If the amount you received as a stimulus check is less than the credit you are due, the difference will be included as part of your 2020 refund. If you have been overpaid by receiving the stimulus check, however, you will not be required to return any excess amount.
So I read that as IF, for example, you do your taxes and you overpaid throughout the year which means you get a refund of $1200 (to make this easy)...you now do NOT get a refund because they sent you $1200 this month. If you are getting a refund of $1500, they take $1200 out of it and you only get $300. If you come to OWE $1200, then I assume you can use the $1200 to pay it??
Your "refund" is simply a loan you are giving to the government for FREE each year that you overpaid on taxes. The goal is always to not owe and not get a refund which means you calculated your yearly taxes correctly. I say that owing or getting a refund around $200-500 is pretty good at getting the calculation right. SOME like to go ***** to the wall overpaying on taxes throughout the year so they can be "rewarded" with a large refund. The refund is just money you could have been pocketing and using throughout the year. So you CAN use overpaying on taxes like a piggy bank approach lol.
I'd advise people to hold onto this money... we aren't out of the woods yet. Everything being done is to get us out of this hole for a month or two. Things will come full circle because none of this is "free" money LOL.
Race Director
Joined: May 2003
Posts: 14,136
Likes: 2,984
From: Iowa
St. Jude Donor '03 thru '26
No Corvette mods from the check, I plan on tipping 12 waitresses $100 each when restaurants open back up. I figure they need the $.
My daughter is in the entertainment business (light tech currently for Alice Copper) so she is majorly affected by this virus. It will be months, if not longer, before she gets back to work. Might send her some $ too.
My daughter is in the entertainment business (light tech currently for Alice Copper) so she is majorly affected by this virus. It will be months, if not longer, before she gets back to work. Might send her some $ too.
Last edited by knewblewkorvette; Apr 6, 2020 at 11:45 AM.
Safety Car
Joined: May 2018
Posts: 3,556
Likes: 537
I'm gonna blow all of mine on hats!!
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Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
If my wife and I get a check, it's going to my oldest daughter and her husband. They've both been out of work for going on two months now and have two kids under the age of 3...they need it much worse than we do...
Thread Starter
Melting Slicks
Joined: Aug 2013
Posts: 2,491
Likes: 315
St. Jude Donor '15-'16-'17-'18-'19-'20-'21-'22
Pro
Joined: Sep 2019
Posts: 719
Likes: 642
From: Northern Ohio
2025 C5 of the Year Finalist - Unmodified
2022 C5 of the Year Finalist - Unmodified
2021 C5 of the Year Finalist - Unmodified
My wife and I are going to deposit our checks into our savings as a backup to help with the bills if needed. We are both out of work at least until the beginning of May, maybe longer.