Hillbilly is slipping

[Fieldmouse]

Hillbilly, where were you on this? While many on this board were cutting on Obama for give some out there a $13/week tax break, you should have been correcting everyone. Is it true, it's not a tax break at all but a only a pay roll decrease? Next year, it has to be claimed as income on your tax forms?

[archer 2]

Watch the bamalovers cry next year when they have to pay in because of the non existent tax reduction they are claiming as one.

[Canuck_Buck]

Does it really matter when companies are reducing employee pay rates and salaries in lieu of layoffs?

Does it really matter when companies are adopting job sharing in lieu of layoffs?

[DougMD]

So it's LESS than $13 a person, while the gubment is spending $25,000 per taxpayer. Will the $9left cover the inflation this new spending will create (not to mention the bill our kids will have to pay)? It's all an illusion! Obama's giving Copperfield a run for his money!

[hillbillyhunter1]

I know of what you speak there fm, but haven't really had the time or the inclination to become informedon exactly how it works...even in regards to my own payroll processing (if applicable). Its such a miniscule (on an individaul level)amount anyway...that if anyone asks me I tell them to talk it over with their payroll depts at work.

The one thing with the stimulus billthat I'm focusing my immediate attention on is the fact thatfirst timehome buyers who close on house between 1/01/2009 and12/01/09 can of course generally qualify for the new credit....8,000 samolians...andgenerally won't have to pay it back...but even more important to me is the fact that once the taxpayer closes on a home (for example 3/12/2009)...they can immediately claim theNEW credit on their 2008 taxeseither by waiting to file or (more likely) filing an amendment. I'm hoping to get some substantialpaid amendment work even after tax season if I can get the word out (mostly to mortgage and real estate agents).

It's amazing to me how many people in the housing market are still ignorant of how this works. Some have thought it is a deduction. None know that you can file a 2008 amendment to claim the 2009 credit. Many show little enthusiasmto even promote it and I'm thinking"you bunch of dummys...this is the best thing you can do for yourselves right now". I guessnow that they don't have people knocking their doors down, they can't rely on their imagination andwork ethic to take full advantage of something like this...I will try to help them.

Also I know they've really lowered the floor on "welfare by federal income tax refund" that you love so much. Even more free money on that front next year...but that will be next year.