Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Earned Income Credit to the Rescue
Old 01-26-2008, 12:55 PM   #1
Recycles dryer sheets
Arc's Avatar
Join Date: Sep 2006
Posts: 370
Earned Income Credit to the Rescue

The stimulus package may be ill timed. This is the time for the Earned Income Credit (EIC) - which allows low incomers with children to get refunds of as high as approx $4,500. Note that this is above and beyond the refund they get for any fed taxes paid in - since they will not have any taxable income. After HR Block takes their $300+ cut for preparing the simple tax return and getting them a check in 24 hours - there is over 4000 left to stimulate the economy.

I say wait a few weeks to see if the EIC can single handedly lift us out of the doldrums!

Earned income tax credit - Wikipedia, the free encyclopedia

Arc is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-26-2008, 05:21 PM   #2
Thinks s/he gets paid by the post
frayne's Avatar
Join Date: Oct 2002
Location: 19th Hole
Posts: 2,320
Actually the max EIC amount for a low income person or couple filing jointly claiming two children is $4716 for tax year 2007.
frayne is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Roth 403(b), Roth IRA and 'earned income' ERD50 FIRE and Money 16 02-24-2008 07:00 PM
Earned Income and (reduced) SS Benefits BillB007 FIRE and Money 6 07-14-2005 09:01 PM
Toyota to the rescue laurence Other topics 28 06-29-2005 12:45 PM
earned income wabmester Other topics 20 02-07-2004 08:10 AM


All times are GMT -6. The time now is 02:27 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.