Just got my stimulus of over $5,000 and make over $150K

Clowns are everywhere wrote:

DeTron Lames wrote:

My household income is like 195k and we will get nothing.

We pay through the nose, too. So much for "we're just giving taxpayers back their money."

Thanks for your service!

+1

CrispyChicken wrote:

I'm tired of you moochers. I am an alone parent (spouse died) with two dependent children with an income less than $125K and I have received no stimulus money at all. You can thank me now and in the future for paying my taxes so that your well to do intact family can have a nice vacation together.

Same here.

Paid alternative minimum tax for years. Did not qualify for student aid. Etc.

Webb has a Keg wrote:

Are you just bending over and paying through the nose to the gov or are you maximizing your deduction capabilities to lower your AGI, save your own money and lower your tax bracket (sounds like you could be on the cusp of 24 vs 22%)?

Man yeah, those marginal dollars over 171k might be taxed at 2% more.

The new normal. The government just periodically sends $$$$ checks to people who are gainfully employed and living comfortable lives. I suppose we can expect this every six months going forward. You can't stop sending people checks once you've started doing so.

Seems nuts to me. I'm sure it makes sense to many people, though. I'd guess most are liberals.

I’ve got you all beat. For 2019, my wife took most of the year off...think she went back to work in November. Due to a couple of quirks in my employer’s retirement program, I was able to get our AGI down to $146k...probably grossed about 200. Haven’t filed 2020 yet, but with some realised capital gains, I think we’re going to be just under $400k. (We don’t normally make that much, that’s just how it’ll be reported this year.)

Anyway, I’ve got a $5600 direct deposit from the feds today. Thank you high earners of letsrun.

working poor wrote:

I’ve got you all beat. For 2019, my wife took most of the year off...think she went back to work in November. Due to a couple of quirks in my employer’s retirement program, I was able to get our AGI down to $146k...probably grossed about 200. Haven’t filed 2020 yet, but with some realised capital gains, I think we’re going to be just under $400k. (We don’t normally make that much, that’s just how it’ll be reported this year.)

Anyway, I’ve got a $5600 direct deposit from the feds today. Thank you high earners of letsrun.

You will be sending all of that $5600 back in 2021. You were supposed to notify the IRS if you didn't qualify for the stimulus based on realized but unfiled 2020 income.

I would stash it in a mutual fund and keep the gains though.

Forbes says otherwise, random internet guy.

Luckily, if you qualify with your 2019 or 2020 AGI, the IRS won’t come back later and check in on your 2021 AGI to see if you made too much money this year to qualify for a stimulus check.

It will be fixed in your 2021 tax return. You won't know that you paid it back.

working poor wrote:

byron evans wrote:

You will be sending all of that $5600 back in 2021. You were supposed to notify the IRS if you didn't qualify for the stimulus based on realized but unfiled 2020 income.

I would stash it in a mutual fund and keep the gains though.

Forbes says otherwise, random internet guy.

https://www.forbes.com/advisor/retirement/how-to-get-third-stimulus-check/

Luckily, if you qualify with your 2019 or 2020 AGI, the IRS won’t come back later and check in on your 2021 AGI to see if you made too much money this year to qualify for a stimulus check.

From your exact same article:

"Once you qualify for a stimulus check and get paid, experts do not expect the government to demand repayment if your AGI rises above the cutoffs in a later 2020 or 2021 tax filing."

"won't come back later" vs. "experts do not expect."

My advice is to not get too comfortable.

You can humble brag or shame people all you want.

I have averaged about 17,000 per year over the last five years.

The money helps to make my payments a bit lower.

Honestly, you can Jones your income to your friends and associates here, but as long as I can pay debts down on my low scale,I don't care what you make or get.

Why do you have a phone or internet if you have debts?

Good question.

Because I have an old Samsung flip phone with a $30/mo. plan

And I have a cheap internet plan.

I do have a job...I'm just poor.

The tablet I have was integral in my job search when moving to TN.

The tablet was a gift from a Professor for whom I worked in CA.

It's a small expense considering.

I am certainly one of the wealthier posters here. I have never had cable. I never paid for a cell phone until retiring early. I know many people who don't know where their money goes. Small expenses all add up. My family is set for life due to thinking about every single expenditure before making it.

byron evans wrote:

working poor wrote:

Forbes says otherwise, random internet guy.

https://www.forbes.com/advisor/retirement/how-to-get-third-stimulus-check/

Luckily, if you qualify with your 2019 or 2020 AGI, the IRS won’t come back later and check in on your 2021 AGI to see if you made too much money this year to qualify for a stimulus check.

From your exact same article:

"Once you qualify for a stimulus check and get paid, experts do not expect the government to demand repayment if your AGI rises above the cutoffs in a later 2020 or 2021 tax filing."

"won't come back later" vs. "experts do not expect."

My advice is to not get too comfortable.

Did you miss the part about the $400k? I’m pretty comfortable...

Can I return check to the government in exchange for the freedom to not have to wear a mask ever again?

Actually, on second thought, scratch that...to be honest, I no longer really mind wearing a mask at the grocery store or local running store anymore, but I definitely am tired of having to wear one outside, especially at track practice and meets.

Can I give my stimulus money back in exchange for not having to wear a mask outside ever again?

So?

You're privileged.

That's not applicable.

Dr. Of Doom wrote:

I am certainly one of the wealthier posters here. I have never had cable. I never paid for a cell phone until retiring early. I know many people who don't know where their money goes. Small expenses all add up. My family is set for life due to thinking about every single expenditure before making it.

You are certainly a blowhard yes. Nobody cares how much wealth you have. You must be old and boring. Life is not about saving every penny and accumulating fortunes to pass on to your ungrateful kids. You could die any day pops. Life’s really that great if your family has to discuss a $1 purchase? Your wife I’m sure thinks you’re a dikk

Stimmy Stimmy wrote:

Looks like IRS deposited $354 into my account. Still processing. Why so small? Married with 3 kids, wife is a SAHM. AGI probably right around 150

AGI 150k (or less) on a joint return - you get $7000

AGI 160k (or more) on a joint return - you get $0

CrispyChicken wrote:

I'm tired of you moochers. I am an alone parent (spouse died) with two dependent children with an income less than $125K and I have received no stimulus money at all. You can thank me now and in the future for paying my taxes so that your well to do intact family can have a nice vacation together.

So many moochers around this country, I paid about $180k in federal and plenty more in state and local tax last year and I didn’t get a penny in stimulus checks. Like what benefit am I seeing compared to the taxes I pay? I’m sure my net burden on federal expenditures is way less than I’m contributing. I feel like I’m subsidizing others with close to half of my income which I work damn hard for.