Jump to content
SASS Wire Forum
Sign in to follow this  
Mad Dane, SASS#5536

A suggestion for your stimulus money

Recommended Posts

Yes. But then he came back and said it was essential for leo and security outfits only. Not regular customers. Don't know if it's changed yet again. Hard to keep track.

Share this post


Link to post
Share on other sites
1 hour ago, Smokin Gator SASS #29736 said:

Yes. But then he came back and said it was essential for leo and security outfits only. Not regular customers. Don't know if it's changed yet again. Hard to keep track.

I stand corrected so now he is getting sued in Federal Court along with Newsom.  The good news is folks can go to San Diego and take care of their business.  Many county sheriff's are keeping gun stores open s essential businesses.  LA as usual is the aberration.

Share this post


Link to post
Share on other sites
On 3/27/2020 at 8:45 AM, Bad Bascomb, SASS # 47,494 said:

:ph34r:  Did my part already.....my Postal Service carrier hates me......  "I'll bet these are bullets!" she gasped as she came through the door.

Being self-employed, my business won't shut down.  But business volume is off about 60%.

Yep, we are in the same boat, good luck.

Share this post


Link to post
Share on other sites

If you are going to buy a gun, you may want to wait until the buying frenzy is over and the virus concern passes. There will likely be bargains to be had. Same with ammo. I recently looked for a modern self defense shotgun for my niece and 4 different places were sold out. If you do find a bargain now, I'm sure you know what to do.B)

Share this post


Link to post
Share on other sites

I purchased two  New Vaqueros the week before all hell broke loose. By the time I went to pick them up took over a day for background check to go through. Dumb old me I thought the only run was on TP.

Share this post


Link to post
Share on other sites

Anyone shooting SASS leads a pretty opulent life style compared to most of the population in the US.  I suspect the majority of this multi Trillion dollar bail out will be used as intended,  to offer a little relief to a devastated economy.   Count yourself lucky if you can use the bail out $ as a stimulus to buy more toys or offer a political donation.   Most will be using it for food,  a car or mortgage payment I suspect.   

  • Like 1
  • Thanks 2

Share this post


Link to post
Share on other sites

Hold on there, Pards. Don't be in too big a rush to spend these. I've hear that these are advances on next year's tax refunds. That's right, the government giveth and the government taketh away. 

Share this post


Link to post
Share on other sites
3 hours ago, Marshal Chance Morgun said:

Hold on there, Pards. Don't be in too big a rush to spend these. I've hear that these are advances on next year's tax refunds. That's right, the government giveth and the government taketh away. 

What's a tax refund?

  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites
10 hours ago, Marshal Chance Morgun said:

Hold on there, Pards. Don't be in too big a rush to spend these. I've hear that these are advances on next year's tax refunds. That's right, the government giveth and the government taketh away. 

Yep you will have to put the amount you receive on your 2020 tax return. Won't affect most. It's 2008 all over again.

 

Share this post


Link to post
Share on other sites

I don't believe it's an advance.  If it was you would have to pay it back dollar for dollar.  It probably will be taxable, in which case you'll owe whatever your marginal tax rate is times the balance.

 

I'm working on the Small Business loan side of this for my company.  It's a pretty sweet deal, for both the company and the workers.  Basically they can borrow 2.5 times their average monthly payroll (including health insurance premiums, etc) during the preceding 12 months.  They then have 8 weeks to spend that money on some combination of payroll, rent/mortgage, utilities, group health insurance benefits.  At then end of the 8 weeks they apply for forgiveness of the loan (which isn't taxable) and if they played by the rules the entire balance (not interest) is forgiven.   If they reduce their number of employees, or reduce employee compensation below 75% of what it was previously they begin to lose loan forgiveness.

 

I'm going to buy new tires for my Camaro with my stimulus money.  Whatever's left over will get saved. 

 

 

Share this post


Link to post
Share on other sites
Posted (edited)

The way that the individual stimulus money has been explained in various private and government media is that this is a tax free stipend that never has to be individually repaid to the government. That is, you don't have to claim it on your 2020 taxes as income and it is not a "loan" that is to be repaid.

 

The real truth is that it will be have to be repaid by your sons, daughters, grand kid and their grand kids, it's not just free money from heaven. I don't know where the Feds are "borrowing" this money from, but it's probably coming from China.....just like the virus. Think about that one for a while........see what conclusions you come up with.

Edited by Cypress Sun

Share this post


Link to post
Share on other sites
1 hour ago, Cypress Sun said:

The way that the individual stimulus money has been explained in various private and government media is that this is a tax free stipend that never has to be individually repaid to the government. That is, you don't have to claim it on your 2020 taxes as income and it is not a "loan" that is to be repaid.

 

The real truth is that it will be have to be repaid by your sons, daughters, grand kid and their grand kids, it's not just free money from heaven. I don't know where the Feds are "borrowing" this money from, but it's probably coming from China.....just like the virus. Think about that one for a while........see what conclusions you come up with.

I think they're monetizing about one third of it.  ie 'printing it'

Share this post


Link to post
Share on other sites
Posted (edited)

Won't be taxable. Won't have to pay it back Will go on your 2020 tax return just like past stimulus checks and you could get more if you situation changes.

Edited by Uncle Ethan # 94321

Share this post


Link to post
Share on other sites

Capt. Bill, and Uncle E, I hope you're right. I'm just going by what I hear on the news. Until I know for sure how it will be handled, it is going in the credit union

 

  • Like 2

Share this post


Link to post
Share on other sites
On 3/27/2020 at 7:50 AM, Cypress Sun said:

I'm gonna spend mine on booze and hookers.....then I'll just waste the rest.:o

Hookers and blow oh no!!!

Share this post


Link to post
Share on other sites

Buy a gun like everyone else is doing right now.....if she lets me:(

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.