What are you going to do with your extra $13 a week

**Thevail** · 02-27-2009, 02:29 PM

As far as I can figure out the average person is going to recieve about an extra $13 per week because of the new tax cuts that go into effect in April. That's about $52 a month. Any one got a great idea what to do with it?

**jas** · 02-27-2009, 02:34 PM

probably add to my stockpile. how is it determined? is it by what you with hold on your paycheck stub?

**Momto2Boyz** · 02-27-2009, 03:13 PM

I've heard that number too, but I don't know how it'll be determined. I have DH's paychecks pretty well budgeted, but any amount over the budgeted amount automatically gets deposited into savings. So this will just go into the "extra" category and be added to savings each week. That'll be and extra $676 put away in a year!

**nodmicks** · 02-27-2009, 03:14 PM

I know this sounds negative but I'll put any if we see it to our ever increasing grocery prices. Our freezer etc is pretty bare after dh being off work 3 months.

**thesightofoneself** · 02-27-2009, 03:20 PM

grocery prices have been rising a hell of a lot more than the $13 everyone is getting

**nancycg56** · 02-27-2009, 03:24 PM

I don't know if this is true or not but I heard on the radio today that when we do our taxes for 2009, we will lose at least half of that whopping amount to taxes. Crazy. It's all a shell game.

**boysnberries** · 02-27-2009, 03:45 PM

Buy a bottle of cheap wine and drown my sorrows! LOL

**Grainlady** · 02-27-2009, 03:46 PM

I just heard we will be taxed on it as income and people are adjusting their withholding to reflect this increase. I'm going to do more checking on this.... Anyone out there a CPA who may actually know the facts?

**The Muse** · 02-27-2009, 03:48 PM

I'm pretty sure I'm not getting it.

**IntlMom** · 02-27-2009, 06:25 PM

Originally Posted by The Muse

I'm pretty sure I'm not getting it.

yea, that's a pretty safe bet for us too!

**lisettelovebug** · 02-27-2009, 06:42 PM

I think we will use it for building up our stockpile. I realized we need to stock more veggies, both canned and frozen.

**Contrary Housewife** · 02-27-2009, 06:47 PM

Originally Posted by Grainlady

I just heard we will be taxed on it as income

Yes, it is income. It is not "free money", it's just LESS being withheld from your paycheck for taxes this year. However, it does not change the amount you earn, so it will not change the amount you are taxed on. It only changes the amount of Federal Withholding being kept for your 2009 taxes.

So if you normally make $450 a week and your Federal Withholding is $75 your employer has been told to reduce it by a certain percentage which will turn out to "average" about $13 per person, so you might only pay $62. Your actual change in withholding will vary depending on your personal income level.

In short, you are paying less taxes in withholding and bringing home more in your check.

Does it sound like a shell game? It is.

**Persimmon Lace** · 02-27-2009, 08:56 PM

We got too big of a refund back this year and will be raising the number of exemptions to even things out. Which will go directly into a savings account to pay for the rise taxes we will all be having to pay for the bailout. This didn't work in the 30's and it's not going to work today.

**mombottoo** · 02-27-2009, 09:24 PM

Many of those close to me are now unemployed or heading that way, so until they get back to work they won't benefit from the tax cut through paychecks. Our income is from disability & other stuff...no tax cut here...not unless of course it's also going to affect the amount we would owe next year...now, that would be a plus.

**Natalie** · 02-27-2009, 10:24 PM

1. Use it for car repairs.
2. Put in EF (the don't you dare touch it fund).
3... But then, doesn't it seem that what the government giveth, the government taketh away? Sure, we got to hold onto the economic stimulus money for a little while, but they're thinking of ways to get it back....