Sunday, March 15, 2009

Where did this money come from?

Well, my most recent paycheck had a solicited and unsolicited addition to my salary. The solicited one was a small bonus paid by my company. The unsolicited one was the federal government trying to get me to simulate the economy. The difficulty is trying to decipher how much was the bonus and how much was the stimulus money. This is important as the money from each source is designated for a different purpose.

As I have discussed before, the stimulus money would help fund my Roth IRA for 2009. This is an ongoing stimulus that decreases the amount of federal tax I am paying to encourage me to spend a bit more than I normally do. I hope my index mutual funds appreciate it.

The bonus money would be added to my car savings account and the leftovers added to either my found money account (likely for a future computer purchase) or my farm savings account. After some calculations comparing my most recent check with the previous, I came up with a number for my bonus and used that to pad my car and farm savings accounts. The remainder was the economic stimulus money and was added into the spreadsheet for my Roth IRA funds. The next paycheck should confirm whether my calculations were accurate or not.

Now, how my taxes will fare next year, that is another question. Have any American readers seen the effects of the Obama stimulus plan in your own paycheck?

No comments:

Post a Comment