The government money tap continues to gush, and it appears some folks >might< be able to get a tax credit of $5000 without too much work. For example, I'm self employed right now, but if I hired DW to perform functions related to my business it looks like I could get the $5000 tax credit now being proposed (info on the proposed plan). There would be some headaches (setting up the paperwork to hire an employee, including paying unemployment insurance, etc), but if DW earns $7000 then the business would get the $5000 tax credit. In addition, she could put all this money into a solo-401K (these accounts are open to sole proprietors and a spouse), so it's another way to get funds into tax-deferred accounts.
Then, next year when she loses this job, I guess she'd file for unemployment insurance, so there'd probably be no net loss of the unemployment insurance premiums paid.
Obviously, the work done by DW and the wage paid has to be legit, but it does look like a way to get free money and help create another job in the US economy--which is, after all, the purpose of this proposed legislation. "Doing well by doing good."
Ideas/comments? Note: This post is in the "FIRE and Money" forum, not the "Politics" forum. Please temper comments accordingly.
Then, next year when she loses this job, I guess she'd file for unemployment insurance, so there'd probably be no net loss of the unemployment insurance premiums paid.
Obviously, the work done by DW and the wage paid has to be legit, but it does look like a way to get free money and help create another job in the US economy--which is, after all, the purpose of this proposed legislation. "Doing well by doing good."
Ideas/comments? Note: This post is in the "FIRE and Money" forum, not the "Politics" forum. Please temper comments accordingly.