March 13th, 2009 by Katie McCaskey
What’s the Stimulus Plan have for you? Explains Galia Gichon of Down-to-Earth Finance:
Are you getting unemployment? If so, one of the oxymorons of receiving unemployment is that you have to pay taxes on that money. With the stimulus plan, the first $2,900 received is now tax free.
Better health coverage. If this works, it is huge. I have personally seen many people using COBRA as their health insurance. The benefits are great but it is expensive! If you were laid off between 9/1/08 and 12/31/09, your monthly COBRA premium can be as low as $130 a month. That can save hundreds of dollars a month! You must meet income qualifications.
Paying for college. The HOPE credit, which was already in place, offered a credit of $1,800 and it has increased to $2,500 if you are currently paying for college.
There are also benefits for first-time home buyers, higher paychecks, 529 college savings plans and car buyers.
Further Reading
Tags: Agents and Marketers, Business, COBRA, Financial Services, health, Health insurance, insurance, Unemployment
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