Stimulus check for Reefing

Guttersnipe · Apr 15, 2020

What’s are you guys getting with your stimulus check? Received mine today, I spent the entire check on a tunze stream 3.

Webslinger · Apr 15, 2020

Not getting a check. Thanks for rubbing it in. Haha

Copingwithpods · Apr 15, 2020

Haven't looked into it but isn't it just a tax forward that needs to be repaid upon doing taxes?

tehmadreefer · Apr 15, 2020

Bought boat stuff might get some frags.

Eggs · Apr 15, 2020

Copingwithpods said:
Haven't looked into it but isn't it just a tax forward that needs to be repaid upon doing taxes?

That’s how it’s been done in the past.

I’m not completely sure but I thought I read this one is handled differently.

Bossman · Apr 15, 2020

Copingwithpods said:
Haven't looked into it but isn't it just a tax forward that needs to be repaid upon doing taxes?

This is a stimulus check. It does not have to be paid back.

mcshams · Apr 15, 2020

Webslinger said:
Not getting a check. Thanks for rubbing it in. Haha

My stimulus check is tanked as well.... ok.. I'll leave.. not even a good pun.

Chac317 · Apr 15, 2020

Thought about getting one of the alkalinity monitors. Researching pros and cons of each now

Auquanut · Apr 15, 2020

Now that I've received a vague assurance that I'll be working all summer, I'm considering blowing the whole thing on a new build.

Lowell Lemon · Apr 15, 2020

I believe the check will come due next tax season. I think the conventional wisdom is that it will reduce your refund or write off next year. So you are borrowing against next year's taxes. The government taketh and the government taketh away....

Lowell Lemon · Apr 15, 2020

Small business Payroll Protection Plan will have some strings as well. Not free money until they actually decide you meet the "grant" requirements. If you can avoid taking the money you might be better off in the long run. If I get one we are going to bank incase we have to give it back...

Bossman · Apr 15, 2020

Lowell Lemon said:
I believe the check will come due next tax season. I think the conventional wisdom is that it will reduce your refund or write off next year. So you are borrowing against next year's taxes. The government taketh and the government taketh away....

Check out this website. There are many more. You will not have to pay back the stimulus check.

Stimulus checks - Business Insider

Latest stories about Stimulus checks on Business Insider

www.businessinsider.com

Unfortunately I'm not getting a stimulus check, but I'm ok. My adult children have received their checks and I'm thankful for that.

Deschutes541 · Apr 15, 2020

Its going to go towards my 90 gallon build

Aquatic Life 48" T5 hybrid
Reef Octopus Varios 4
Reef Octopus Octo Pulse 4
4x ATI T5 bulbs
2x 150w Eheim Jagers
20lbs of live sand.
Probably a few unions, ball valves, gate valves, and PVC.

I'm going to wait to see if they start doing sales in order to move product.

AndyinAtlanta · Apr 15, 2020

Lowell Lemon said:
I believe the check will come due next tax season. I think the conventional wisdom is that it will reduce your refund or write off next year. So you are borrowing against next year's taxes. The government taketh and the government taketh away....

Nope, that isn't the case here. This is essentially a tax credit that the government is giving you in advance. Normally you'd get a 2020 tax credit when filling out your taxes in the beginning of 2021. The Bush tax credit was the exact same thing, but the only difference is you didn't receive that credit until you filed you taxes. The stimulus checks won't get taxed now or when you file your taxes and they also won't effect next year's tax return.

If you typically get a return of $1000, you'll still get $1000 next tax season. If you typically owe a $1000, you'll still owe $1000 next tax season.

Sebastiancrab · Apr 15, 2020

Copingwithpods said:
Haven't looked into it but isn't it just a tax forward that needs to be repaid upon doing taxes?

No it is

Bossman said:
This is a stimulus check. It does not have to be paid back.

The stimulus checks paid per person based upon prior years returns is not returnable to the government.

Lowell Lemon · Apr 15, 2020

According to the news we should all buy PPE and hide under our beds lol!

AndyinAtlanta · Apr 15, 2020

My stimulus is going into savings. I want to see how the economy recovers when people start going back to work and businesses open back up. The optimistic side of me says it will bounce right back, the pessimistic side of me says there are going to be a ton of bankruptcies and foreclosures and we slip into a massive recession.

All goes well I'll spend my stimulus in the Fall on something cool for the tank.