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Set it aside for coins

How will you spend your tax rebate from the federal government? Will you throw it into your monthly expenses and watch it disappear, or will you set it aside for a special numismatic purpose?

Sure, spouses and significant others will have something to say about how the money gets spent, but the beauty of the rebate is that it is given out on a per person basis.

If your spouse doesn’t like what you intend doing with it, well, they have money, too.

I’m not trying to start a domestic argument. I just wonder if collectors this year can dream a little bit about what they will do with an extra $600.

Part of the freedom of being a hobbyist is to be able to daydream about what should to be acquired next.

For most collectors, a $600 increase to their hobby budget represents a sizable percentage increase, so the sense of possibilities is significant.

The checks are scheduled to arrive in May, so there is plenty of time to think about good uses for the rebate. Even if it ultimately goes to the auto repair shop, the weeks of daydreaming about numismatic uses will make it all worthwhile.

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2 Responses to Set it aside for coins

  1. Scott says:

    Based on how the rebate is calculated (see http://www.irs.gov/irs/article/0,,id=177937,00.html), some of us are not getting a rebate. So no economic stimulus from me! 🙁

  2. Mark says:

    Scott is correct. Not everyone gets a rebate and some who do will get it prorated based on their income. The phase out range of 5% of Adjusted Gross income on $75,000 on a single return and $150,000 on a joint return means a $12,000 range for single taxpayer’s who get a rebate compared to those who are fully phased out and a $24,000 range on joint returns. Numbers will be higher for those with qualifying children.

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