How much do you expect on your upcoming stimulus payment? How much for your kids and how do I know If I even qualify?

The government has passed the $1.9 trillion relief plan and we're a go-to receive more stimulus payments. This one is going to be substantially different regarding the amount you will receive. Let's go through it.

The COVID-19 relief bill is a few signatures away from being done and that means more money for your family. You have the stimulus packages and unemployment benefits extensions. I'll post links to click for in-depth information including a simple calculator to tell you how much is expected for your family.

Let's get to incomes that make the cut.

Does your family make less than $160,000 per year? You will receive $1,400 per person in the household.

Individuals, that make less than $80,000? You will also receive $1,400 per person.

** Married couples who earn $160,000 or more will not be eligible.

How much for dependents? You will receive $1,400 per child this go-round. We originally received $500 and then $600 in the second round for dependents. This dependent amount has more than doubled.

If you are unemployed there is a $300 weekly federal boost to your benefits. There is more that impacts being behind on rent and mortgage. If you own a small business there are also benefits regarding the Emergency Injury Disaster Loan program providing long-term, low-interest loans from the Small Business Administration.

I'm posting the link for a stimulus calculator which is very simple.

Filing Status:

  • Single
  • Married
  • Head of household

Annual Income:

  • ?????

The number of dependents:

  • ?

That's it and it will instantly give you numbers. Very simple and gives you something to plan for especially if you are married with 4 children. You would be looking at $8,400 tax-free being deposited very shortly.

 

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