EITC and what it means to you

My mom emailed me about Earned Income Tax Credit and I thought I’d investigate.

From KY.gov

Governor Launches Campaign to Urge Kentuckians to Apply for the Earned Income Tax Credit

Surely, this is just a publicity stunt. Let’s see if I’m eligible.

From the IRS:

  • Must have a valid Social Security Number
  • You must have earned income from employment or from self-employment.
  • Your filing status cannot be married, filing separately.
  • You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return.
  • You cannot be a qualifying child of another person.
  • If you do not have a qualifying child, you must:

    • be age 25 but under 65 at the end of the year,
    • live in the United States for more than half the year, and
    • not qualify as a dependent of another person
  • Cannot file Form 2555 or 2555-EZ (related to foreign earn income)
  • EITC Thresholds and Tax Law Updates
  • Special rules may apply

So, I’m already disqualified because I wasn’t 25. If I was 25, let’s see where I could go:

Earned income and adjusted gross income (AGI) must each be less than:

From EITC Thresholds and Tax Law Updates

  • $37,783 ($39,783 married filing jointly) with two or more qualifying children;
  • $33,241 ($35,241 married filing jointly) with one qualifying child;
  • $12,590 ($14,590 married filing jointly) with no qualifying children.

$12,590? That’s earning ~$6.29 an hour working 40 hours a week for 50 weeks a year. I made more as a student worker for the university in 2005-2006.

Boo, Governor Beshear.

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Economic Stimulus Payment Information

The IRS has published the Economic Stimulus Payments Information Center [irs.gov – legit source]

There’s a lot of scamming/disinformation going around about the Economic Stimulus Payments.

Here’s what you need to know:

What are you going to buy? I’m strongly considering one of these.

Room for Improvement

The past week’s geek posts were kind of pent up. I don’t know if I’ll be able to not post about databases regularly… since it’s kind of the Thing That I Do. Thanks for coming back =)

I’m under 210 lbs (fluctuating between 205-210) which is A Good Thing™. I was 230+ in November. I’ve got to hit 190 to no longer be obese and 180 to hit my goal. I went on a weight loss kick in the fall of 2005 and got to 210 (from 240+) but could never get under. Things were a bit more drastic then, diet wise. I wasn’t able to sustain it. Now I’m attempting to eat reasonably and exercise reasonably. I’m back in the pool but I’m also lifting weights and riding a bike occasionally. When the weather looks better, the bike usage will go up.

Short term goal: 180 lbs. Long term goal: 180 lbs in 5, 10, 15, 20 years.

I lost my sideburns… but they’re rebounding. I lost a bet with my friend Pat where I had to remove my sideburns. Most of my friends around here have never seen me without them. The only people I know that have seen me burnless are the crew from KC.

A while back I wrote about Mint.com and I can say it’s still amazing. I’ve taken a look at my spending habits and come up with an itemized budget that I’ll be able to stick to including the notorious unknown expenses while adding to ING Direct on a monthly basis.

If you can’t tell by my past few posts, I’m on fire about work. I know these things are cyclical, but it’s been over five months and I’m still enjoying it. We’re in the midst of a very massive and long-term project with amazing benefits. It’s exciting to see everyone working towards this goal.

Bibleshark is still alive and kicking. Last month Derek and I put in a work day to go through our laundry list of fixes/additions to the site. We fixed a lot of bugs and added 6 translations (New American Standard, Amplified Translation, The Twentieth Century, The Emphasized Bible, The Centenary Translation, The Living Oracles). Unlike Jason Calacanis, we believe in having a life outside of work. I kind of think of it like the Geek Reserves… one weekend a month. =)

I have another project I want to publish, but it has some startup costs associated with it. I’ve done some of the write-ups already, but it’s a very large/long term project. Maybe I’ll use my economic stimulus check to buy some equipment and software.