Here is a quick update to our "Payoff the IRS quick" plan.
Our starting balance was $5900
We have applied our economic stimulus check to the balance bringing it down to $3800.
Today we are making a $1000 payment from our debt snowball, bringing the balance down to $2800. The other $300 of our debt snowball is going toward field trips for the kids, since I realized we had not budgeted for them previously. We are making up for that $300 next month since May is one of two months of the year that we don't have a car insurance payment which saves us $122 and if we have to we can pull some money from our emergency account.
Here are some other areas that God is blessing us with "snowflakes" to pay off this debt.
1. Yesterday was the last day of the month, and my readers helped me reach payout from Adsense. So around May 28th, I expect $103 to be deposited into my account.
2. In May I will be receiving my Ebates check, which again, is mostly due to my readers signing up through my referral link. That deposit is expected to be $188 plus $60 in Target Gift Cards. The $188 will go to the IRS, while the $60 will be part of our grocery budget.
3. I have received $50 for 5 of my readers signing up for an ING Direct account. Thank you! If you don't have an ING account you can email me at adh913@yahoo.com for a referral. It is a great place to park your sinking funds for future bills.
4. I should also receive a check for $93.11 from Commission Junction. This is from readers signing up for ING Direct through the banner ad on my site. Again, thank you!
5. I am planning a yard sale with friends for June 7th. I have a lot of stuff to sell so I hope that will add even more money to the "Payoff the IRS fund".
Total of snowflakes expected in May: $494.11
Thursday, May 1, 2008
IRS Payoff Update
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5 frugal-minded friends say:
Isn't awesome how God provides in unexpected ways?
That is excellent!
I have a question...a while ago I commented asking about the stimulus checks and how much people were projected to receive. According to the article you posted I read it as up to $1200 for married couples and you explained that married couples filing jointly who earned less than $150,000 would receive the full $1200 and for each 1k over that the amount decreased by 10%.
Anyway, I was wondering where you found that information. We were really looking forward to the $1200 but according to the IRS calculator we will only be getting $600, and we definitely make less than 150k. :) It doesn't really matter either way, since it's "found" money and not money we were counting on. I just wondered where you had read that.
Thanks!
Annie,
Try using the economic stimulus check calculator to see if what you figure is what the IRS figured. I've read the information at many financial sites, including Fox Business. Here's the link for the calculator.
http://www.irs.gov/app/espc/
Hope this helps.
That's the calculator I used and the figure came out to be $900 altogether, including the $300 for my daughter. I couldn't find anywhere on the IRS site that said anything about income levels or when I did a Google search. Everything just said up to $1200 for married filing jointly. I just wondered. Thanks.
Praise God! That's awesome!
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