Stimulus checks

[MJAlltheWay24]

I buddy in Ohio said, that since the stimulus checks hit...televisions have sold like crazy. He went from having a couple hundred on-hand to being completely sold out in abour 3 weeks.

 

I've seen more than a few big screen boxes set outside for the garbage man of the last few weeks.

[Jumper_Dad]

I've seen more than a few big screen boxes set outside for the garbage man of the last few weeks.

 

I was in the Walmart Parking lot last week waiting for my wife and in the 15 minutes she was in the store, I saw at least 8 TV's come out.

[sportsfan41]

Not stimulus check related perse, but part of the CARE ACT was student loan payment deferral. Checked my credit score on Monday and my Transunion and Equifax both dropped by 8-10 points because the student loan company now reports the payment status as deferred rather than paid on time. Not a huge deal because my scores are in the 800's and I know eventually it will bounce back.

Still annoying when I had no say in the matter and am still making payments though.

[All State Baseball]

Any chance we get another round of stimulus checks? I know theirs several options on the table.

[TheDeuce]

Any chance we get another round of stimulus checks? I know theirs several options on the table.

 

I’d say that’s unlikely with so many people in a rush to get things reopened.

[sportsfan41]

Any chance we get another round of stimulus checks? I know theirs several options on the table.

 

I’d say that’s unlikely with so many people in a rush to get things reopened.

 

Agreed, another round promotes the stay at home and dont go back to work mentality. Not sure whether or not we are opening too soon. No way to know for sure until it happens.

[rjs4470]

Any chance we get another round of stimulus checks? I know theirs several options on the table.

 

I think that will depend on how quickly jobs come back. Retail is hemorrhaging right now and some big players are dropping. This won’t be like a like switch just turning on....it’s going to take some time. While we may not see another round of checks, I do think you may see extensions to unemployment until jobs start to come back.

Edited May 15, 2020 by rjs4470

[Getslow]

Not stimulus check related perse, but part of the CARE ACT was student loan payment deferral. Checked my credit score on Monday and my Transunion and Equifax both dropped by 8-10 points because the student loan company now reports the payment status as deferred rather than paid on time. Not a huge deal because my scores are in the 800's and I know eventually it will bounce back.

Still annoying when I had no say in the matter and am still making payments though.

 

Yeah it's a strange distinction. They're only required to report the account as "current", but that has evidently included at least a couple separate terms for the particular accommodation.

 

The one that's interesting for me is the new employer-pay provision, in which an employer can pay up to $5,250 in student loan payments this year, tax free to the employee. If a borrower is in a position to make it work, you could potentially be talking some serious savings. Lots to still work out on this one, but student loan payback is starting to become a serious selling point for companies looking to hire. This is only going to accelerate it, especially if Congress makes it permanent, like a lot of experts think they will.

[sportsfan41]

Yeah it's a strange distinction. They're only required to report the account as "current", but that has evidently included at least a couple separate terms for the particular accommodation.

 

The one that's interesting for me is the new employer-pay provision, in which an employer can pay up to $5,250 in student loan payments this year, tax free to the employee. If a borrower is in a position to make it work, you could potentially be talking some serious savings. Lots to still work out on this one, but student loan payback is starting to become a serious selling point for companies looking to hire. This is only going to accelerate it, especially if Congress makes it permanent, like a lot of experts think they will.

 

That would mean my student loans would be gone after this time next year. I could go for that.

[Getslow]

That would mean my student loans would be gone after this time next year. I could go for that.

 

I haven't read enough about it yet, but if that's coming out fully above the line, it's possible that this could be a real tax savings. If your loans are that small, then your interest deduction could probably be smaller than the overall reduction of AGI you'd get if your employer was willing to sign on.

 

I have a lot more catching up to do on this. So much weird little tax stuff packed into that bill.

 

Speaking of "above the line", you -- and everyone else for that matter -- are getting a $300 charitable giving deduction for 2020, regardless of whether you itemize or not. That's a fun one.

[Randy Parker]

On 5/13/2020 at 10:31 PM, All State Baseball said:

Any chance we get another round of stimulus checks? I know theirs several options on the table.

Seems like we might.