Economic stimulus utility poll

[W2R]

Already spent the stimulus times 6 on landscaping. Going to spend another twenty four times the stimulus before completion.

Robbie, I spent a lot on landscaping too right after I moved into this house. Believe me, it was SO worth it! You are going to be so glad you did this. Every day I appreciate the fact that I no longer have a jungle of impenetrable bushes surrounding huge dying oaks that were ready to fall on my house during a hurricane or even a light breeze. Now I have an easy care landscaping set-up (which was my objective, maybe not yours, but still.... it's great to have the yard you really want). All I have now is beautiful green grass.

With nothing but lawn, all I have to do is pay my lawn guy to mow and edge, which doesn't amount to much money at all. I think my yard looks great and I haven't spent even one minute on yard work. My kinda life!

Here's the view of my back yard and garage, as seen from my back door.

 

[UtahSkier]

Received Stimulus that was not needed. Using it as it designed for unplanned spending.

We are using the $2400 for kitchen cabinet refinishing. This should cost about $4000.

 

[scrabbler1]

I interpreted "will receive" to include filing to get it as part of an income tax credit on my 2020 taxes next April. I had already filed my 2019 tax return (usually I file in early April, oh well) when the stimulus was adopted, and my 2019 income is too high to get a check this time. But my 2020 income will be low enough to qualify. It isn't like I will need it; being able to qualify again for the ACA premium subsidy this year is far more valuable.

 

[Sojourner]

My DGF just got her $1,200 direct deposit, but I'm not getting anything due to unusually high AGI in 2018 (and even higher in 2019). However, I am getting some "pandemic unemployment assistance" due to my small trickle of freelance consulting income from 2019 (which has completely dried up this year), so I'd say that technically qualifies as economic stimulus for the purposes of this poll.

I've decided to give at least 10% of any stimulus/unemployment money I receive this year to various charities. Also plan to use a good chunk of the money to support small local businesses, like HVAC contractors, restaurants (later this summer), hardware stores, etc.

 

[PatrickA5]

Gave it to DS and DD who both need it. DS doesn't have a job and DD's husband has been told his job is going away by the end of the year.

Gave them my deceased fathers $1,200 too. We'll see if the IRS comes a lookin for it later.

 

[Steeler75]

Received partial stimulus that will be sent right back and then some to the government on July 15th to pay 2019 taxes...

 

[RobbieB]

Front yard;

 

[ABQ2015]

Once I finish my 2019 taxes, I should receive about $600 based on the sliding scale. I would prefer to spend it in the local economy but at age 65 with an underlying health condition, I don't want to go out any more than necessary. If items are not available in the grocery or drugstore, I order them online. But I have made some recent donations to food banks and other in-state charities so some of that money may be spent at local businesses.

 

[socca]

The poll options could be reworded to remove your objection. For example:
• I have received or will receive economic stimulus, and will spend it on essentials.
• I have received or will receive economic stimulus, and will do something else with it.
• etc.

FWIW (not much ), here is what the next two poll options would look like if we avoid the word 'need':
• I have not and will not receive economic stimulus, but if I did, I would spend it on essentials.
• I have not and will not receive economic stimulus, but if I did, I would do something else with it.

 

[Gumby]

Based on our 2018 AGI, we received a pittance last week. We'll get the rest next April, because we retired in mid-2019 and our 2020 AGI is below the lower threshold. What was it spent on? That's hard to say, since it just went into our checking account and all that money is fungible. If I had to pick one bill that was close to the amount we just received, it would be the most recent chemotherapy session for one of our cats. I think she's pretty essential, but I was going to spend that money anyway.

 

[ABQ2015]

I interpreted "will receive" to include filing to get it as part of an income tax credit on my 2020 taxes next April. I had already filed my 2019 tax return (usually I file in early April, oh well) when the stimulus was adopted, and my 2019 income is too high to get a check this time. But my 2020 income will be low enough to qualify. It isn't like I will need it; being able to qualify again for the ACA premium subsidy this year is far more valuable.

I thought the stimulus was based on the 2018 or the 2019 tax year, not 2020 taxes. Did they change it?

 

[pb4uski]

It's always been based on 2020 to my knowledge. The checks sent out were based on your most recent return on record, so 2018 or 2019. When you do your 2020 return it will include a calculation of how much stimulus that you were entitled to based on your 2020 income. If you are entitled to more than you received, the difference will be an additional credit. If you received more than you were entitled to based on your 2020 income the IRS has said t they will NOT be asking for the difference.

That's my understanding but I'll concede that I have studied it throughly.

 

[Rustic23]

I started to vote other. We don’t need it for any expenses. My guess is most of the already retired are in this boat.

Side Note: about all in the same boat. I heard this the other day. We are all in the same ocean, but in different boats. Made since to me.

 

[harllee]

DH and I have received our stimulus of $2400. Have already given all of it to several local charities--mainly food banks and children's lunch programs. Made me feel better to be able to help those in need.

 

[SALTedOut]

I did not qualify based on my 2018 or 2019 income. However, I may qualify for the 2020 tax credit but it will be close. I'm not worrying about managing my 2020 income to try to make sure I qualify. I'd rather make sure I follow my plan including ROTH conversions which would be the main reason I may not qualify in 2020. Big variable will be my investment income. If 2020 dividends and cap gains distributions are low enough I may qualify.

 

[rodi]

We got $1200 for our family of 4. (Sons didn't qualify since they are dependents and age 17 or older.)

I donated $600 to the local food bank and will probably do the same with the other $600... I was waiting to see if anything happens to our tenants. If they stop paying rent, I'll keep it for our household. But so far they've kept their jobs and are paying rent.

 

[ckelly78z]

I have been laid off since March 23. I was able to check in with unemployment the first 3 weeks, but they said I needed to backdate my account, and now I have to reset my PIN...which is impossible with their systems.

My point is....no unemployment checks at all yet stating on the 8th week, but I did get one $1200 check about a month ago, we didn't need it, but did appreciate it.

 

[jollystomper]

Received it direct deposit but do not need it.It will go primarily towards our charity/gift spending, and a small amount to stimulate the local economy.

 

[fireorbust]

DW gave hers to one of our adult kids and I gave mine to the other....

 

[MultiEventer]

We live on a middle class SEPP withdrawal until Jan 2022. At that time, I will withdraw even less every year because we just don't need that much money to live happily and peacefully. No matter how much money I have in our investment accounts, that will not change. We are simple people that prefer to help others with our excess. So yes, we received the $2400 and added it to a stock portfolio we have setup up to be used to begin sending our grandchildren to a Christian private school as each enters the 7th grade. Mind over matter. Character over success. Spirit over the material. Not that I don't like success. It's just that success is meaningless (to me and my wife anyway) if you don't have character and faith!

 

[tenant13]

I stopped working around March last year so my income for 2019 was small enough to qualify for the full $1200. I didn't need it but it somehow melted away during every day spending - I'm not sure what I spent it on.

 

[PointBreeze]

We donated one of our two checks to the local food bank, because there are definitely a lot of people who need help right now. We are so fortunate that we don’t need the help.

 

[Dtail]

We put ours into the emergency fund. We are supporting various local places with other means.
All fungible in the end.

 

[MRG]

Received and not needed. Few meals bought out with large tips. We have been talking about buying a couple of bicycles from a local shop.

 

[sadie1958]

We got a partial stimulus because I was fortunate with a healthy paycheck last year.

Did not need the $1,000.

Gave it to a food bank. Doubled down and gave an equal amount to family in need.

We know we are blessed while so many are suffering economically.

Thank you for being considerate of so many others.