We received our stimulus check deposit!! Gotta love the cartoon – I feel like all of them!!
Of course, it will probably need to be paid back at tax time next year. That’s what happened last time we got stimulus checks. They “give” you money (your tax dollars), and then when you do your taxes a year from now, you need to indicate this amount as having been “refunded” in advance. Last time, we owed the stimulus amount and about the same amount we paid the previous year. Not much help when you spend the stimulus check for essentials.
This time we are putting it into savings and hoping we don’t need to use it. We’ve been pretty diligent on saving for summer this year – maybe saving more than we will use if we can’t leave home. In case you didn’t realize, when teachers are off for the summer, they don’t get paid. Many take on summer jobs to make ends meet. How many are going to be able to do that this year? This is such a unique time with so many uncertainties.
We hope everyone is doing ok with all this. Stay safe!
I was wondering if we would have to pay back the stimulus check and if we do, then it would have been better if they asked ahead of time if we needed it or not (since it kind of acts as a loan if you have to pay it back).
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If we had a choice, we would probably not taken it. Others need it more than we do. I sure hope this doesn’t screw over too many people next year at tax time.
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