The Big Weekend
April 15th is the day....our taxes are due. So my guess is many of us will be gathering receipts and hitting the button on our QuickBooks or Quicken to pay Uncle Sam.
Actually in 1862, Congress inacted the Tax Act to help fund the Civil War. The Act of 1862, also established the Internal Revenue to assess, levy and collect the taxes. Did you know the powers and responsibility remain pretty much the same 146 years later? When Congress passed the first law it was a forerunner to our progressive, modern withholding of our taxes.
This year many Americans will be receiving rebates of between $300 to $1200. from the government . Businesses have already started thinking of marketing campaigns of ways to get you to spend the rebate.
My advice, don't count your chickens before they hatch. Not everyone will get a rebate. If you owe the government money, you will not get the rebate. ( back taxes ). Gross incomes for singles making $75,000 and married couples with gross incomes above $150,000 will be phased in. Other reasons you won't receive a check is if you don't file a tax return or if you make less than $3000.00.
In my opinion it almost sounds silly. Maybe the big guys believe if most Americans get a check it will stimulate the economy but within your own individual family, will it ?
Let's see, my 4 year old dishwasher broke 2 weeks ago, guess I could use it there. Or maybe we'll use it to pay down my business credit card, which always gets high in the winter months in Michigan. I read 6 out of 10 Americans would rather see the money used to reduce the deficient.
This year Tax Freedom Day has been set for April 23rd. That is the day, using a mathematical formula it is determined we will have worked for to pay our Federal, State and Local taxes. Only 12 days away ! It actually shrunk this year due to the Economic Stimulus Package and the slow growth of the economy.
April 15th is the day....our taxes are due. So my guess is many of us will be gathering receipts and hitting the button on our QuickBooks or Quicken to pay Uncle Sam.
Actually in 1862, Congress inacted the Tax Act to help fund the Civil War. The Act of 1862, also established the Internal Revenue to assess, levy and collect the taxes. Did you know the powers and responsibility remain pretty much the same 146 years later? When Congress passed the first law it was a forerunner to our progressive, modern withholding of our taxes.
This year many Americans will be receiving rebates of between $300 to $1200. from the government . Businesses have already started thinking of marketing campaigns of ways to get you to spend the rebate.
My advice, don't count your chickens before they hatch. Not everyone will get a rebate. If you owe the government money, you will not get the rebate. ( back taxes ). Gross incomes for singles making $75,000 and married couples with gross incomes above $150,000 will be phased in. Other reasons you won't receive a check is if you don't file a tax return or if you make less than $3000.00.
So who do
you know looking for a check ?
Do you
think this will help stimulate the economy?
In my opinion it almost sounds silly. Maybe the big guys believe if most Americans get a check it will stimulate the economy but within your own individual family, will it ?
Let's see, my 4 year old dishwasher broke 2 weeks ago, guess I could use it there. Or maybe we'll use it to pay down my business credit card, which always gets high in the winter months in Michigan. I read 6 out of 10 Americans would rather see the money used to reduce the deficient.
This year Tax Freedom Day has been set for April 23rd. That is the day, using a mathematical formula it is determined we will have worked for to pay our Federal, State and Local taxes. Only 12 days away ! It actually shrunk this year due to the Economic Stimulus Package and the slow growth of the economy.
Have a great
weekend !
If you are looking to use your
Tax Rebate to help purchase a home in Ann Arbor or Washtenaw County,
you can Search
Houses here.
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