Take a vacation...

[Clearwater AL]

The current occupant of the White House wants to give everybody (which I assume includes
the poor, lower middle class and disabled) a $4000.00 dollar VACATION tax break.

That's great but... you must spend the money first this year at resorts, hotels, restaurants
or rentals so you can deduct it off your taxes next year. Don't forget to save every receipt.


If you can afford it... have at it.

 

[KimT]

It's not a deduction. It's a tax credit. Big difference.

Like low-income people who live paycheck-to-paycheck will be able to take advantage of it.....or the unemployed people not yet back to work. What it means is that you would have to spend $8,000 to get the full $4,000 tax credit.

A tax credit directly offsets taxes dollar for dollar whereas a deduction can only be used if you itemize deductions and offsets income, not taxes.

If approved, the “Explore America” Tax Credit would dangle up to $4,000 in front of Americans for vacation expenses spent in the U.S. at hotels, theme parks, restaurants and other tourism-related businesses through the end of 2021. The credit would cover up to 50% of a household’s total vacation expenses, up to a maximum of four grand."

 

[swalker]

The news reports I have read describe it as a tax credit. The news reports were not clear about whether or not it is per family or per person.

Steve

 

[KimT]

It is a tax credit but a 50 cents on the dollar credit. I doubt it's per person.

To help low-income people, it should be for all restaurants, including fast food joints.

Details are not out because it's still in the idea phase.

 

[EricInLA]

Wow, this thing has got TRUMP written all over it. Sure, go out and spend 8 grand on a vacation, and we'll rebate you half! We're the government, so we can just print more money. And if it's a Trump branded hotel, we'll double it! Safer at home? Fugetaboutit. BON VOYAGE! (And if you're a working stiff who can't quite afford to take advantage of this handout -- or disabled and can't easily jump on a plane -- don't worry, this is nothing compared to the other tax breaks we give the well-heeled)

 

[Clearwater AL]

If you take your vacation and stay at a Trump Resort, Hotel or Golf Course you just
might be staying at a place that received money from the Tax Payer funded PPP Fund.

But for now, you won't know because the Treasury Secretary refuses to reveal what
business owners ( businesses ) received a big chunk of that Tax Payer funded program.

Gee... I wonder why?

Staying at one of these over priced joints will be very costly but you'll be able
write four grand of it off on next years taxes.

 

[blitzc]

According to the original plans PPP fund, all businesses of current White House Administration (including cabinet) and their families were supposed to be exempt from receiving these funds. Now, having said that, not certain if the final draft approved by the Senate (hmmm) and signed by the President included that language propsed by democrats.

 

[KimT]

Well, I guess I'll be able to use it if I have to evacuate for another hurricane.

 

[Clearwater AL]

Just something to read... it took me a while to compose this. My story.

Being that Kim mentioned may having to evacuate.

I rode out hurricane Elena in 1985 Clearwater/Tampa.
I’d never do that again. Evacuate. Have a plan.

The house was surrounded with water. I watched the picture
window flex back and forth from the wind. Fortunately it
didn’t break. The power went off… for 3 & 1/2 days. No AC,
no lights, commode wouldn’t flush, the sewer system was
flooded, streets off the barrier islands to the mainland were
blocked from fallen trees and power lines.

Because of the flooding when the sun came out… the humidity
was off the scale. Again… no A/C. Temperatures in the 90s
during the day... mid 80s at night.

As the water finally began to recede… snakes and gators were
in peoples yards. Then… the STINK from stagnant brown salt
water and seaweed. The roof was damaged but no ceiling damage.

The sound of the wind against the house, screaming at the
sliding glass doors. the exhaust fan over the stove began to
whine, had to stuff a towel up the pipe. I could feel the air
pressure go up and down in my ears.

Then, things I saw sailing down the street during the peak wind.
What were people thinking? I saw lawn chairs, yard umbrellas,
kids yard toys, even a Big Wheel trike, a dog house! And more.

As the water receded all that junk washed down and plugged up
the curb storm drains. Three of us went knee deep with rakes
and pulled what we could off the grates.

I was lucky… compared to the folks who went through Andrew,
Irma and the likes of Micheal.

So, if you live near the coast, even miles inland or near a river,
lake, if you’re told you need to evacuate, if you can (big IF)… leave.

And… have a plan for when it’s safe to return. There may be
things that will need attention. Hope the power is back on.

 

[KimT]

Thanks for the reminder, Al. I have the ocean in front of me and the intracoastal in back of me, so if it's a slow moving or Cat 3, 4, or 5 fast moving, I'm out of here....at least as far as central Florida. I've always made my decisions early and we never took a direct hit but I've seen direct hits where neighborhoods were not recognizable.

 

[Clearwater AL]

More to the story if I may.

We had warning so I went down and got my boat and trailered it
home. That was a job. I parked it up along the side of the house.

Trailer and boat probably two tons+. It ended up against the house
and crooked on the trailer… that was a job getting that straightened
out.

Ok, my family still lives in Florida, I’m high and dry in Central NC.
I get asked, “Don’t you miss Florida?”

I tell them in two words I miss… “My boat!”

The times I have gone back… it’s not the Florida I once knew and
loved. Gulf Blvd from Clearwater down to St.Pete is a concrete
canyon of Condos, Hotels and million dollar homes. All the little
beach bars and cottages are gone. The house I lived in is gone.

Hopefully not… if another hurricane comes though I hope all
those “Condo Commandos" get out safely. Sorry Kim.

 

[KimT]

I love it here, especially in this condo. Everyone parks on their own floor so there is no elevators to worry about, although they do have two elevators for people to come down to the mail room and get their mail. I've lived in huge houses on the river, a big house on the golf course, and a condo on the golf course. This is my favorite Florida residence, so far. Just praying we don't get hit again. The Daytona Beach area has been very lucky as far as hits go. We've had some very near misses but no direct hits.

Several years ago I thought about joining the Freedom Boat Club. They have all kinds of boats and two pickup areas within a few miles of me. I should have done it back then before the joining fee was added. The monthly fee isn't bad. I had a very small boat (held six) years ago when I lived on the Tomoka River. It was used mainly for skiing and a little fishing.

 

[beauty4everyone]

....."$4,000.00 must spend the money first this year at resorts, hotels, restaurants or rentals, theme parks, and other tourism-related businesses, Trump Resort, Hotel or Golf Course..."
So, I take out a loan, spend an additional $4,000.00 of money I don't have, surround myself with Plague-ridden, unmasked crowds, catch COVID, contaminate my family and friends, die an early death, letting others take care of the mess. Sounds fair - at least I had a nice vacation.