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Posted by Phil Marti on April 17, 2008, 2:02 am
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"dpb" wrote:
> Easy enough in farming to go from one extreme to another (altho it's a
> whole lit easier to stay on the losing end (damhikt) ).
Which is one reason why farmers can income average.
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Phil Marti
Clarksburg, MD
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Posted by removeps-groups@yahoo.com on April 17, 2008, 3:23 pm
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> It's certainly possible, but probably pretty rare.
Could happen if his business takes off suddenly, or if he has huge
capital gains for 2008.
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Posted by curiousgeorge408 on April 17, 2008, 3:24 pm
Please log in for more thread options > That would be a pretty volatile business, if he goes from making too
> LITTLE one year, to making too MUCH the following year.
> It's certainly possible, but probably pretty rare.
Well, that will be my situation exactly; and I doubt that it is so
unusually, at least in my profession.
As a retired person, I had very little taxable income in 2007. But
this year, I took some contract work that will pay me a 6-digit
taxable wage.
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Posted by removeps-groups@yahoo.com on April 17, 2008, 9:26 pm
Please log in for more thread options On Apr 17, 12:24 pm, curiousgeorge...@hotmail.com wrote:
> As a retired person, I had very little taxable income in 2007. But
> this year, I took some contract work that will pay me a 6-digit
> taxable wage.
If you had SS you would probably qulaify the rebate this year. But if
not, then you could try to defer some income to 2009 if you think your
income would be over 75k.
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Posted by D. Stussy on April 16, 2008, 11:42 pm
Please log in for more thread options > A self employed person had a bad year in 2007 and had less then $3000
> income for 2007. Therefore, the person won't be eligible for a stimulus
> rebate. They expect 2008 income to be substantially higher then $3000.
> Will they be eligible to get the rebate in 2008 because they weren't
> eligible in 2007? The IRS FAQ's have a vague reference to this as a
> possibility but I'm not clear on the details.
The other answers have already told you that to the extent that you don't
qualify based on your 2007 return, you may qualify based on 2008 and receive
it )or part of it) then.
However, it's NOT A CARRYOVER.
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