Jan 30 2009

Have a baby in 2008? Get $300 from Uncle Sam


Remember the economic stimulus checks many of us received during the spring/summer of 2008? If you had a baby in 2008, depending on your income, you might be able to file for a “recovery rebate credit” and get $300 back on your federal tax return.

When the stimulus package was rolled out, eligible singles got $600, married couples got $1,200, and each qualifying child added $300 to the parents’ stimulus checks.

Apparently, the $300 per child was intended for children existing in 2008 — even if they were born after the stimulus checks went into effect.

If your income meets the qualifications, look into the recovery rebate when you file your 2008 taxes. You’ll get your money as a part of your federal tax refund. If you will owe money, the recovery rebate will reduce your obligation by $300.

Also, according to the IRS, these people might qualify for the recovery rebate:

  • Individuals who did not receive an economic stimulus payment.

  • Those who received less than the maximum economic stimulus payment in 2008 — $600 per taxpayer; $1,200 if married filing jointly — because their qualifying or gross income was either too high or too low.

  • Families who gained an additional qualifying child in 2008.

  • Individuals who could be claimed as a dependent on someone else’s tax return in 2007, but who cannot be claimed as a dependent on another return in 2008.

  • Individuals who did not have a valid Social Security number in 2007 but who did receive one in 2008.

(Hat-tip to the Consumer Reports blog)

Jan 29 2009

No garage, and no shoveling


This morning I caught myself grumbling about the wintry weather and thought about how nice it would be to live in a house with an attached garage instead of an apartment with a parking lot.

I then reminded myself that complaining won’t melt the snow and ice on our car, and I might as well look on the bright side.

Sure, our car lives out in the elements. But, if we had a house, we’d be responsible for shoveling our driveway and sidewalk. In our apartment, we don’t have to do any shoveling or sanding or salting.

Also, our apartment just has one external wall. We get ambient heat from other units, which no doubt translates into a lower electric bill than we’d have with a similar-sized house standing alone.

For now, I might as well remain a contented renter, since we’ll be renters for quite some time.

Hey! I'm Kacie, wife and mother of 3. I write about my family's finance: how we save money, improve our spending, and plan for the future.

I hope I can inspire and encourage you to improve your situation. See disclosure.

I'm adopting a much slower-paced posting schedule, and treating this as a hobby blog now.

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