Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Just wondering if anybody is going to be using their Economic Stimulus Check to purchase a new toy. If you are, whats it going to be?

I have an N800 and I love it. Im just looking to supplement it.

Im looking into an EEE PC or a Cloudbook so if anybody has any recommendations let me know. My refund is going to be 600 bucks

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

No, because if you read the fine print, you realize that this is actually a LOAN, and will be deducted from next year's tax refund (assuming).

Stick it in savings. You'll be glad you did.

UPDATE: reports more recent than what I read over a month ago (still not found) say we won't have this deducted from next year's payout after all. Consider me skeptical still.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

I know I know. No matter what we do with that "refund" we will be taxed on it. Whether it is deducted from next year, or put into savings...taxed on the interest. Uncle Sam CAN have his cake and eat it too. :)

FROM IRS.GOV

Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. In the event you do not qualify for the full amount this year but you do next year, you will need to have the letter as a record of the amount you previously received.

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

I spent a good 20 minutes on the IRS website looking for that fine print, didn't see it. I spent another 10 minutes scouring google results.

I did find that it could be completely deductible against and that it will not affect your 2008 tax refund.

Where are you getting this info? I'd like to see it.

Thanks

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Not entirely true, but it makes for a couple of good anti-IRS posts from the libertarians in the room.

I also read that the only way that it can increase the amount of taxes that you owe is if you see a significant increase in interest, if mathematically possible.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

I edited my post, and, like cashless, I searched the IRS website and found that there is no indication of having a reduced refund or increased tax liability for our 2008 returns...


So getting back to the topic of my thread....who's gonna buy something with the money they get in May?

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

well, just put it in savings, thats why they're giving it to you, to save those d*mnable failing banks

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

I'm upgrading to a N810. I was gonna wait until Xohm rolled out before upgrading to the wimax version, but I'm a little disheartened with the delays and the fact that my city isn't even on the Xohm roadmap yet.

I'll probably upgrade my phone/carrier too (probably before then) to something tetherable (damn blackberry 8100).

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Ah grasshopper, I see by the nativity of your post that you are not yet married. Foolish single person. Once one has reached the level of married with children such concepts as "money" and "willful spending" are no longer achievable ideals.

If I beg hard enough I might get a new mouse, but I'm not holding my breath.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Yeah, like most people I'll use it to buy something made in China. That's going to really turn around the US economy. :rolleyes:

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Great response. I was looking at the Sprint Sero Plan. If i do that then i would be paying 145 bucks to oust verizon from my life and i would be able to tether for 30 bucks a month with voice, data, txt etc etc. WiMax would be great. If your city isnt on the MAP then, in my opinion I would stick with what you already have...

My city, Detroit, was part of the original Xohm blanket but as far as I know, it could be a couple of years before that happens.

I dont have a notebook. Thats why I was looking into the SUB-notebook genre if you will. Do you have a 770 or n800

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

An N800 as of December 2007.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Do you have a laptop?

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

It was revealed in a CNN article a while back.

I'm not trying to sound conspiratorial here (:D), but those behind this "gift" have good reason to keep certain details on the down low. But I'll try to find verification that it will work as a loan. Even if I don't, I've decided that's the safe assumption, and that's what I'm going with. If I'm wrong, all the harm I've done is save some money. ;)

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

That's the difference between a "rebate" ( like the last $300 check you got from the IRS ) and a stimulus package. It's still going to affect everyone via price inflation, but in theory it should not directly affect your 2008 returns.

As for me I'll probably going to pick up a Wii ( if I can ever find just the console - or with only one or two real essential items I refuse to pay extortion money to buy one ). The rest will probably be used to avoid a HELOC for some small home projects. We are replacing window, refinishing original wood floors, and putting in a new closet this year.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

mooler, it looks as if CNN's info may have been incorrect based on what I've found so far. It's possible it represents an early version of the bill (I do recall some points were contested). Still, I don't trust the Fed (especially since they foolishly think this will stave off recession) so I'm not going on a spending spree. Ironic, eh? :D Wonder how many others feel likewise...

Anyway, I found this discussion on the topic hilarious:

http://www.freerepublic.com/focus/f-news/1990784/posts

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

The one thing I trust our Govt. to do is throw around $$ like it is nothing. The sad thing is that it is future generations that are going to have to pay the price for this foolishness.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

It is of course ridiculous; it's not a loan in that way. Incidently, have you noticed the fierce protests by libertarians of the Bear Sterns bailout? Me neither.

But of course you can't just add stuff on to the deficit as the Bush Administration has done and pretend that we will never have to pay for it. We are paying, and we will have to pay. Just as the Bush Administration has decreased our military flexibility by overspending our military resources, thus making us less prepared to fight potential necessary wars, it has decreased our financial flexibility by taking out loans on our future.

And I might spend my money on an eee-pc, if I get the chance.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Do you live close enough to hear Ron Paul protest?

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

:) I hear you. I thought I might try to get a used BT GPS but I am not sure.
Probably will put everything into savings before it "disppears".

johenkel

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Better spend ASAP. Pretty soon your dollar will be:

A. worth less than the peso
B. bowing down to the Amero.

I keed. I keed...






not really.

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

Heck, cashless, I'll just buy more euros. :D

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

or put it into the next year's IRA ;)

Re: Are you going to buy a new gadget with your Economic Stimulus Check (US Only)
 

By the time it gets here, I'll probably just use it to buy a tank of gasoline.