How are you staying entertained in corona quarantine?

[Wonderful Monds]

I can't say I've ever heard it referred to as a goal to keep people home.

Really, you don’t think that was the point of quarantines

[North]

Really, you don’t think that was the point of quarantines

It's the wording. The money was printed and distributed to aid folks who had jobs at businesses that were barred from operating. Stay-at-home is a different thing. Granted, tbe effect is essentially the same. We had (have) self-quarantines, but not mandatory quarantines.

And this is another opportunity to remind folks that CARES act funding is taxable income.

[Sea Ray]

And this is another opportunity to remind folks that CARES act funding is taxable income.

Not really. The funding is not taxable income but they don't let you deduct those expenses since that'd be allowing you to deduct something that you didn't pay for. In other words you can't get a double taxable benefit

The PPP loan forgiveness is not counted as taxable income. The IRS said in its guidance Thursday that expenses that result in forgiveness of a PPP loan are not tax deductible in order to prevent a "double tax benefit."

https://thehill.com/policy/finance/d...ualify-for-tax

[North]

Not really. The funding is not taxable income but they don't let you deduct those expenses since that'd be allowing you to deduct something that you didn't pay for. In other words you can't get a double taxable benefit



https://thehill.com/policy/finance/d...ualify-for-tax

I said nothing about loans.

[Sea Ray]

I said nothing about loans.

What CARES Act funding were you referring to? The PPP money was a huge part of the CARES Act funding

[BuckeyeRed27]

What CARES Act funding were you referring to? The PPP money was a huge part of the CARES Act funding

He's talking about the payments they sent to everyone.

You are talking about the business loan program.

Same law, different parts.

[Sea Ray]

He's talking about the payments they sent to everyone.

You are talking about the business loan program.

Same law, different parts.

We really need to be more specific. CARES Act funding means nothing. Let's try to get at what we're talking about here. Are you talking about stimulus checks, $1200/person? Those are not taxable

Why stimulus checks won't be taxed, but unemployment benefits will be

https://www.cnn.com/2020/05/11/polit...xes/index.html

Unemployment checks will be.

So, once again, which did you mean?

[North]

We really need to be more specific. CARES Act funding means nothing. Let's try to get at what we're talking about here. Are you talking about stimulus checks, $1200/person? Those are not taxable



https://www.cnn.com/2020/05/11/polit...xes/index.html

Unemployment checks will be.

So, once again, which did you mean?

If you would stop shooting from the hip and carefully read what I said, you would see that it was the unemployment checks.

[westofyou]

Boy, this thread went the opposite way of “Fun”

[Sea Ray]

If you would stop shooting from the hip and carefully read what I said, you would see that it was the unemployment checks.

OK, here's the recap:

It's the wording. The money was printed and distributed to aid folks who had jobs at businesses that were barred from operating. Stay-at-home is a different thing. Granted, tbe effect is essentially the same. We had (have) self-quarantines, but not mandatory quarantines.

And this is another opportunity to remind folks that CARES act funding is taxable income.

Nowhere did you mention unemployment supplements. That was but one portion of the CARES Act.

Then Buckeye mentions money that they sent to everyone. That sure sounds like something different than UE checks.

He's talking about the payments they sent to everyone.

You are talking about the business loan program.

Same law, different parts.

I'm not shooting from the hip. You weren't clear and had us all confused. Yes, UE checks are taxable. Much of the other CARES Act money is not.

[North]

OK, here's the recap:




Nowhere did you mention unemployment supplements. That was but one portion of the CARES Act.

Then Buckeye mentions money that they sent to everyone. That sure sounds like something different than UE checks.



I'm not shooting from the hip. You weren't clear and had us all confused. Yes, UE checks are taxable. Much of the other CARES Act money is not.

I said "The money was printed and distributed to aid folks who had jobs at businesses that were barred from operating."

From that context, it is easy to infer that when I wrote "And this is another opportunity to remind folks that CARES act funding is taxable income." I was speaking about the personal unemployment payments. Not everything is literal.

..."had all of us confused"? Who is all of us? There was you, me, and and BuckEye27...who got what I said. Lighten up my friend.

[Rojo]

If it makes you feel better, much of the donor class isn't getting anything at all.

No, I'd feel better if I WAS getting it from the donor class. But I'm not. Look at the stock market.


https://www.cbsnews.com/news/full-tr...irus-pandemic/

PELLEY: Fair to say you simply flooded the system with money?

POWELL: Yes. We did. That's another way to think about it. We did.

PELLEY: Where does it come from? Do you just print it?

POWELL: We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.

[BernieCarbo]

No, I'd feel better if I WAS getting it from the donor class. But I'm not. Look at the stock market.


https://www.cbsnews.com/news/full-tr...irus-pandemic/

PELLEY: Fair to say you simply flooded the system with money?

POWELL: Yes. We did. That's another way to think about it. We did.

PELLEY: Where does it come from? Do you just print it?

POWELL: We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.

Well, I guess I don't understand what the donor class is, because they passed people like me over.

[Sea Ray]

I said "The money was printed and distributed to aid folks who had jobs at businesses that were barred from operating."

From that context, it is easy to infer that when I wrote "And this is another opportunity to remind folks that CARES act funding is taxable income." I was speaking about the personal unemployment payments. Not everything is literal.

..."had all of us confused"? Who is all of us? There was you, me, and and BuckEye27...who got what I said. Lighten up my friend.

I was clearly confused. The UE money was only $250B of the CARES Act. I had no idea that's what you were referring to given the broad statement. Thanks for clarifying

[SteelSD]

Ok, trying to get back to the spirit of the thread, during time spent away from work, I've been upgrading my 7.2.4 Atmos/DTS-X surround sound system and will be adding a SoundShaker amp and rumble units to my couch this weekend.

My wife uses the room directly below me to work from home and craft in her downtime, so I'm pretty sure that divorce is imminent...

That being said, after I get the shaker units in place, my first five movies will be Saving Private Ryan, Fury, Godzilla- King of Monsters, Cloverfield, and Kong- Skull Island. If my couch doesn't fall through the floor or turn to ash, I'll follow up with Dunkirk and San Andreas.

I live on the edge.