2010 Stimulus check
October 31, 2009
The 2010 stimulus check is set to help over 90% of Americans, but how will this affect you? The changes operated after the implementation of the stimulus have shown themselves clearly in 2009 by way of the stimulus check a high percentage of citizens have received, but its continuation in 2010 will be a bit different. The way in which the stimulus will work consists in a decrease in federal taxes, which will manifest itself through increases in average Americans’ paychecks.
But how do you know you qualify for this generalized federal tax deduction that is part of the government’s stimulus package and how should you go about receiving what the government is offering you, like a 2010 stimulus check ? First of all, in order to qualify, you must be paying social security; this means you have to be employed (or self-employed), i.e. you must be working and paying taxes. You must also make sure that your income does not exceeded the amount of $95,000 per year, or, if you are married and wish to submit a joint stimulus consideration request, then the joint income of the two applicants mustn’t exceed $190,000 per year. You must also keep in mind that certain restrictions to the federal tax cut the stimulus will grant you apply if your annual intake exceeds $75,000 or if you and your spouse’s joint annual income exceeds $150,000.
The federal tax deduction comprised in the stimulus will put in (or rather, not take out of) your pocket the sum of $400 (or for a joint application a total of $800). This is money the government normally would have taken out of your salary that you are now allowed to keep. It’s the same amount you will receive in 2009, only divided along 12 months instead of 9. This, in case you meet all the requirements and benefit from the full tax deduction. The amount of the deduction will be smaller depending on where you stand on the annual income chart. You will not be receiving a check in the mail or a check from your employer to mark the stimulus tax cut, but rather, you will be receiving an extra few dollars every month on top of what you’ve been earning so far. Those with maximal benefits from the stimulus will cash an extra $33 every month for the duration of the 2010 stimulus check thanks to the stimulus plan. That means that if you are filing for the federal tax deduction with someone else, together you will receive $66 every month.
If you are working two jobs and qualify for the federal tax cut, you will probably need to be extra careful. As it turns out, you stand to get a tax deduction on both paychecks, which means that you that you have double benefits, which unfortunately isn’t possible. Even if you are working two jobs, you only qualify for one share of the stimulus plan, which means that if you receive the something extra on your paychecks from both jobs, you will either have to notify one of your employers instructing them to desist, or you will be required to return the extra money after the end of the fiscal year.
The tax deductions that accompany the stimulus plan are meant to make it easier to navigate through the economic crisis, for the hard working Americans who find themselves having difficulty keeping up with the ever changing economic climate. While it might not seem like much on a grand scale, the federal tax deduction comprised in the 2010 stimulus check can make things a lot easier for many of those who are struggling to make ends meet.
Tags: cash, check, deduction, government, Income, jobs, money, Stimulus, taxComments
468 Responses to “2010 Stimulus check”
-
I AM VERY CONFUSED. FIRST OF ALL I WAS ALWAYS UNDER THE IMPRESSION THAT LOW INCOME PEOPLE LIKE ME GET ALL IF NOT MOST OF THEIR FEDERAL WITH-HOLDING BACK AT THE END OF THE YEAR ( IN THEIR INCOME TAX CHECK), SO IF THIS STIMULIS MONEY IS COMING FROM A DECREASE IN FEDERAL TAXES I AM GETTING THE MONEY I WOULD HAVE ALLREADY GOTTEN AND I WILL GET LESS NEXT YEAR ON MY RETURN CHECK. THIS REALLY SUCKS.
-
Ok, for those who think that people on disability are free loaders, let me tell you something…..
We on SSDI as it is usually called, have worked, and on average get about $800 per month.
The average minimum wage worker, after at least, Federal Taxes takes home about $1,068.17 per month. Does anybody see a serious difference with these figures?
This is how I came up with my figures….
7.25×40= 290 per 40hr work week
290×52=15,080 per year, gross income
15,080/12= $1,256.67 per month, gross income
1,256.67×15%= $188.50 per month paid in Federal Income taxes
1,256.67-188.50= $1,068.17 per month take homeNow let’s see what the breakdown for folks on SSDI is to an equivalent hourly rate…
$800*12=9,600 per year, hmmmm, I already see a problem with this….
$7200/2080= $4.62 per hour Who sees whats wrong with this picture?So people on disability should be just as entitled to a stimulus check as everyone else, or at least Social Security should be forced to pay us the equivalent of the current federal minimum wage. And besides that, why would we want to live off of peanuts if we didn’t have to?
So please don’t give us some bs about not being entitled to stimulus payments, an extra $400 a year would go a long way in helping SSDI recipients making ends meet.
-
I know the stimulus was meant for boost the economy but if we keep loosing jobs because of the poor governmental budgeting here in California it won’t matter how much money is put back into the system. The state takes money away from the Counties so they have to lay off all of their employees and cut special services which means more jobs lost at city levels which means less money to be spent. What needs to hapen is the money needs to be given and regulated to the states to get them out of debt. which would stop the trickle down affect to the local govt. and also taxes and this would also stimulate the economy.
-
INFORMATION REGARDING YOUR STIMULUS CHECKS
Sometime this year, we taxpayers may again receive an Economic Stimulus payment. This is a very exciting new program. I will explain it using the Q and A format:
Q. What is an Economic Stimulus payment?
A. It is money that the federal government will send to taxpayers.Q. Where will the government get this money?
A. From taxpayers.Q. So the government is giving me back my own money?
A. Only a smidgen.Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV , thus stimulating the economy.Q. But isn’t that stimulating the economy of China ?
A. Shut up.Below is some helpful advice on how to best help the US economy by spending Your stimulus check wisely:
* If you spend the stimulus money at Wal-Mart, the money will go to China .
* If you spend it on gasoline, your money will go to the Arabs.
* If you purchase a computer, it will go to India ..
* If you purchase fruit and vegetables, it will go to Mexico , Honduras and Guatemala .
* If you buy a car, chances are it will go to Japan .
* If you purchase useless stuff, it will go to Taiwan ..
* If you pay your credit cards off, or buy stock, it will go to
Management bonuses and they will hide it offshore.
Instead, keep the money in America by:
1 spending it at yard sales (OR AN AUCTION!), or
2 going to ball games, or
3 spending it on escort, or
4 beer or
5 tattoos…
(These are the only American businesses still operating in the US ….)I’m going to go to a ball game with a tattooed escort that I met at a yard sale and we’re going to drink beer all day! Happy New Year!!
-
what happens to those who dont want the stimulys check. last time we got the check i ended up having it deducted from my income tax for that year!!! what a rip off!!
-
What CHRISTmas presents? With $800.00 a month, after rent and bills paid and a little food bought, who has money for presents?
-
Why doesn’t everyone STOP looking for free hand outs from the government. The government will NEVER fix your problems for you. You have to figure out how to fix them yourself or you will never learn from your hard times, failures, mistakes. The richest people didn’t get there without failing first!
Look to yourself to succeed and to get your butt out of your mess.
My whole young adult life I was financially strapped and messed my credit up good. 2 years ago I had enough and worked my butt off to get out of the hole. Miraculously last year I bought a house, refinanced my car into my OWN name and now I have a small savings I’m building. I didn’t and couldn’t do any of this with handouts. I did it because I learned from my mistakes and I worked HARD.
Hard work WILL bring RICH dividends I guarantee it!
I’m in the lowest possible bracket of middle class borderline lower class. It wasn’t money that helped me it was me.
No stimulus or rebate will help any of you because from what I’m reading no one hear is wanting to help themselves.
It’s worth it! Get up and work hard and do it YOURSELF! That is America! Not handouts that take away incentive. -
the problem with this idea is since my pay on each check will go up so will my rent. The amount i have to pay each month in rent is based on 33% of my income. every dollar on my paycheck right now goes to bills. i am surviving but barely and this stimulus will not help me and anyone like me at all.
-
The stimulus package was a great idea to try to help jump start the econony, but the problem is deeper than that; has any of you checked your holiday gifts???? I was suprised to see that 95 percent of what I received for Christmas was “made in China”. Now does anyone wonder why there are job shortages in the U.S.???? We need to start buying products from home and this is only a small part of the problem!
Among many other things, did anyone read or hear that our politicians are trying to vote in their own salary raise, again! Most people that I’ve spoken to, that have typical jobs, are not getting raises this year, they are so thankful just to have a job!!!! So please tell me why our politicians in Washington, D.C. need a raise! They are only making ten times more than the average “Joe”! -
I would go get 3 jobs but they keep telling me I’m over qualified for them. And the other one’s I’m under qualified for.
-
I think this is all just a big joke. every one has there own situation. but the bottom line is we need help. i keep hearing Obama wants moms to back to school so they can get better jobs but it doesn’t work if there are no jobs. it doesnt work if they cant afford child care. the saying is every little bit helps. I was raised by my father. I helped raise my 3 sisters we scraped by every month but we made it some how. I am the only one of my sisters to graduate from high school and wished to continue my education but could not get the funds to do so. my father has bad credit i had no credit. So i went to work at a fast food resturant and from there a big named store where i met my husband we where makeing it. things changed and now i am a stay at home mom and my husband is a corrections officer here in TX. he makes about 2000 before deductions after its about 1200. he works 4 days on 4 days off 12hr shifts. its not an easy job but it pays most of the bills we dont have credit cards or any thing like that. we have old debt that keeps us from getting ahead. we pay 650 to rent because we cant afford to buy we share a car that needs major work. we dont have cable. we have cell phones because it was the cheapest way to go at the time. to get to the point we all have our curcumstances. i worked for a short time this year but gave up because the only job i could get paid just enough for me to pay a lady that does in home care to watch my 2 kids for about half the time that i needed and my little sister watched them the other half for gas money. so i was working to pay some one else to teach my kids bad habits and how to talk back to me. all i want is the american dream. to own my own home and be able to put food in my kids tummies and clothes on there backs. the way its going we won’t make it.
-
No one can blame this downfall in the world president Obama!!! He came into this with everything already messed up!!! We were already at war which cost, among other things!! Faith and prayers help alot more than any human can believe it or not. I am a single parent with 3 boys and we struggle but we make it. If you want a silver platter then go out and get 3 jobs if that is what it take and stop blaming everything on everyone else!! In all honesty things always get worse before they get better!!!
-
With what I am reading on the 2010 stimulus package. Saying that they will take less out of our pay checks before taxes, and allow us a $33 increase per month. That means that we will receive that much less in Taxes back at the end of the year when we file our return. I am single and I work a 40 hour week, and with earning only around the $9.00 per hour mark, I receive back about $150.00 income tax return per year. So if they decrease my tax withholding by $400.00 a year. then I will be paying $250.00 a year into income taxes. I can not afford an extra bill.. I am barely making it as it is.. and I live in low rent district.
i do not see how taking less taxes and causing those who really need that extra check in the middle of the year.. to have to pay that much back in each year.. will help those of us who are barely surviving… I earn too much to qualify for public assistance, and Not enough to make it on my own.. Yet I am single and I am not able to live with family…. How can this possibly help me.. It can’t it will make me homeless if I am forced to pay into income tax instead of receiving any back.
This stinks.. President Bush had it right sending us checks.. President Obama is making a smoke screen that will only cost the poor more money that they can not afford already.
I guess it is true the rich get richer and the poor get poorer.
-
Hey Adam, there are a lot of people in this country right now who have been laid off or had their hours cut to a point that they can’t survive. And yeah, there’s unemployment, but if you were barely making enough to get by in the first place, you won’t be able to get by on unemployment. The nerve of you to basically say that everyone is just spending unwisely and that if they’d stop they’d be fine. That’s ridiculous, it’s nice that you make enough to make ends meet but a lot of people don’t anymore. Maybe with one big check they could make a full mortgage payment, pay off some debt, or buy their kids much needed new clothes. It’s not expecting a hand out if you’ve worked hard your whole life and now, through no fault of your own, you don’t make enough money to pay your bills. God forbid the government give back a little to hard working people. You don’t see politicians not being able to pay their bills.
-
I do not have any taxes taken out of my pay check as I do not make much, will I get anything? If so how?
-
I am a Senior and have worked most of my life; paid my taxes; SS coming out of my checks; etc. I receive a little over $700 per month and squeak by (barely) each month. We will not get a cost of living increase until 2013. The reason we do not get a COLA (so they say) is the cost of living index has not gone up. HELLO! You dead beats in WA. My cable bill (bottom line basic) bill has increased; car tabs increased (I paid $50 for a 1986 vehicle) to aN additional $20 tax on tabs in next year; Cell phone increased; groceries and gas increases weekly; rent increase this year and on and on. Where is the fairness in dumping on Seniors who have contributed all their lives. I need dental care (Medicare does not cover it); I have been diagnosed with cataracts and Retinol Detachment (early stages) and is questionable if Medicare will cover the eventual surgery. My vehicle needs mechanical attention but cannot afford to find out what the problem is. The $250 would at least have given me an “oil change”! WE ALL HAVE VOICED OUR OPINIONS IN THIS FORMAT. LETS USE OUR VOICES ENMASSE AT THE POLLS IN 2010 AND 2012. THEY HAD THEIR CHANCE BUT GAVE US NOTHING BUT BROKEN PROMISES AND DOWNRIGHT LIES. LETS THROW THE BUMS OUT!!!!!
-
How do i get a responce to the comment i posted earlier, How do one get
intouch with our senitors and rep.in our state, All of their websites are not
reachable, I guess that is how it is suppose to be, Some one needs to help
the senior’s on s/s, my s/s check droped from 1.000,028.00 to 800.00 plus
a month, how does senior’s pay thire bills and thire medical’s bills. help. -
everyone talks about our greedy government. our politicians are mostly crooked lawyers now working under a political title (hello). and corporations are traitors to our country. they ship out jobs americans should have to foreign countries who will work for less money and the fat cats at the top keep filling their pockets. where does it all end?
-
why don’t the president give every family in the united states a one time check
for one million dollars, that would get some money back into the economy.
there are only about 90.000.000 family’s in the united states, why did they
think of this before they gave all that money to car dealer ship’s and banks??
help us please. -
I have read everything people are saying. My question is since we all know that what the “fat cats” with bulging pockets is doing is wrong…how to we get through our gov.’s “concrete skulls” and let them REALLY KNOW what we think and how we feel about what they’re doing? Also that if they keep “lining thier pockets and the pockets of “big business” We won’t vote for them next time around….if there is a “next time”!
-
Hello!! I am sick of our country. We are so creedy and we spend so much on dumb shit. Almost $800 Billion spent and loaned to Companies who didn’t need it, just a waste. What should had happen was..There is 300 million americans, and $800 billion dollars, give each $100,000 in a account to use to buy a home, car and pay bills..Now, the only way you get this money you have to be working or going to school. Now I said there is 300 million people, but only talking about adults, parents not children.. Now this is something we could live with. Thanks
-
I cant understand why they are doing this. Prices are up and folks who are ss va and any other income cant make ends meat. If they are going to help the americans then do it the congress needs to understand we the people need help. we cant buy food insurance for health or burial. they get there salary they are not hurting. Do they give up anything noooo. they dont Listen up congress help the people. dont talk do. there is no reason for this to happen. we pay for bread milk and other stuff. Milk 4-5.00 bread anywhere from 2.00 to 300 this is crazy. You dont hurt we do. Please get the checks out quick. there are folks who cant get insurnace are food stamps because they make 10.00 over and if they do thats all you get is 10.00 a month. I hope you have a heart help us
-
What I don’t understand, if the government is not giving a cost of living raise to Seniors and Disabled because the index is not climbing… then why are the prices of groceries and staple goods still increasing?
-
In all the whining I have been reading here, I have not seen one comment on the trillions this country has been wasting on spreading freedom around the world (like spreading chicken manure). We have lots of money to spend killing innocent women and children and freedom fighters in faraway countries, but no money for things like school lunches, healthcare, infrastructure, and on and on. Wake up america!
-
I draw Social Security Disability payments. I do understand the hardship everyone is facing these days but to not include the Seniors and Disabled is terribly unfair. I had worked since I was 16 years old, paying into the system and when I got hurt (At WORK, imagine that!) and had to go on disability it wasn’t by any fault of my own. People can and will argue the merits of this forever and no one will win. The thing that made me mad was the person who said we needed to stop buying HDTV’s and cable. Well, I can’t afford cable but I did get a HDTV. WHY? Because someone in the government decided that unless you have HDTV, you won’t have ANY TV reception. And yes, I did try the box but where we live we couldn’t pick up all of our channels. Which by the way was only 5, and with the new TV we get 8, when we can get them. So get off your soap box until you know the facts and don’t judge me. I live on $800.00 a month..
-
I can’t rely on my employer to put extra dollars on my taxes(my employers are cheap and i dont trust anyone else with my money), how can i assure this will happen?
-
The way I look at it, is if the government would have given everybody a one time check. One lump sum check. Keep everything the same taxes,deductions,etc. Given a check of $200,000.Everybody the same working,SSI,Disability,Unemployed we as a whole would have already paid off or caught up with Mortgage,car loans,medicines for the elderly,people struggling,etc. Then the banks would never gottened that TARP Money and they (Banks) would have received their money back.Instead they are going to received another Bonus and have lavish parties. That is what we need to get!!!!!!!!!!!!!!!!!
-
Well from what i was reading i guess the disabled and retired folks wont be getting anything in 2009 . And it isnt fair What we all worked for years ago is going to immagrants that now have our jobs and getting that stimulus that should be ours since we worked the years for it not them. Thank You to the ones who decided this .Take our blood you are taking our self respect .A little hope to a LITTLE Extra.
-
It seems obvious to me that this administration is discriminating against social security recipients. First there is not going be a cost of living increase and now we are excluded from the stimulus check. 2012 can’t get here soon enough. Doesn’t this administration know that social security recipients vote?
-
well the governent is getting ready to give out big bucks again. the NASA program, FBI, car dealers and government workers are getting a 2 per cent raise. nothing for social security because they say cost of living has not increased, shame, shame on our government, they have their expense account’s. limo’s and so on. i can see the FBI and the veterans administration, but not NASA, that is money up in smoke, do u have plans to go to Saturn or Mars? they say social security, veterans, and railroad on disability may get a check for $200.00, WOW, break that down to 68 cents a day for 1 year, where should spend it first? my view is the government is sticking it’s nose into private business, why? we voted these people in office to run national, state and local government, not to help banks, auto dealers and manufactures, guess they got a good loan percentage and a new car. by the way, my rent, electricty, insurance, telephone, cable tv have all increased in the last month, gee someones cost of living has increased!!!!! thank you
Got something to say?
Page Categories
Stimulus Package info
- The Economic Stimulus Package
- Stimulus Bill and Its Result Oriented Effect
- Obama Stimulus Package with Lot of Excellent Features
- government stimulus check
- stimulus check eligibility
- Stimulus Refund
- Career Stimulus
- Stimulus Tax break increase Average tax return
- Time to Think for a Second Stimulus Package Again
- Is the Stimulus Package really transformative
- What Delayed the Stimulus Projects
- A Look at the Stimulus Package After a Year
- Stimulus Exit Strategy is too Early
Economic & Financial
Fiscal and Tax info
- 2011 tax ideas in USA
- Online tax software
- 2010 tax forms
- energy tax rebate
- tax back calculator
- IRS tax rebate
- Claim Tax Rebate
- Tax Time Troubles Caused by Stimulus
- Tax Relief for Individual and Families
- Individual Income Tax Return 1040
- Federal Tax Cuts to Create Green Energy
- Federal Housing Tax Credit
- Tax Rebate for First Time Home Buyer
