But when President Bush called me and asked me how to salvage the economy I offered my advice.
Print a bunch of free money and give it to the people.
We'll soon be getting the Stimulus Tax Rebate Checks which will be a welcome event for many. For those young familys like the Lassens who never seem to have a problem with bearing children, it will mean a sizable check. They've got 5 kids, and if my calculations are correct, they'll get about $300 x 7 people equals $2100. That's a pretty decent check. If they were to have a tax liability, which they won't b/c they're still in college, their buying their house and they've got 5 kids, they'd possibly get up to $600 for mom and $600 for dad.
Missy and I should see approximately $1500...if I ever get around to filing our tax return. To our tax returns first requires me to do a 1065 Partnership return, two 1120 S-Corp returns, and get the numbers together for the lawn mowing. Each year it gets more complex, and I'd thought I was just going to put it on extension this year but if we want that rebate check we need to file.
Also, you should note that if you have a grandmother or a senior family member that if they haven't filed for decades that they should file this year. They too could possibly be elgible for the $300 rebate check if they had at least $3k in qualified income. To get it they have to file.
P.S. - If you're wondering what your rebate check might look like, there's a calculator here at www.irs.gov