Posted on 02/25/2017 4:52:28 PM PST by TaxPayer2000
When Christina Knaack received a $5,600 tax refund, she didn't head to the mall or book a trip to the Caribbean. The South Carolina-based single mom of two kids used it to pay her rent … for the entire year.
"Instead of buying my kids the latest Jordans or fancy electronics I paid my rent for the YEAR," Knaack writes on Facebook. "I'm a single mom and I do it all by myself on a minimum wage job. I know that a roof over my kids head is what's important."
Since Knaack uploaded the picture of her rent receipt on Feb. 22, the post has gone viral and racked up more than 320,000 Facebook "reactions."
"You see too many posts now saying, 'Oh I got my kid the latest Jordans.' Or, "Look, my 7-year-old has an iPhone 7,'" Knaack says on FOX Carolina. "People lose sight of what's important."
Now that Knaack's rent is covered, "I don't have to worry about my kids saying, 'Mommy, I need this,' and I can't get it because I'm still trying to debate if I can pay my light bill or if I can pay my rent," she tells FOX.
Plus, she now has an extra $450 a month (the cost of her rent), which she plans to spend on fun activities with her kids.
If you're one of the millions expecting a tax refund this year, consider using it to improve your financial situation, whether that means chipping away at your rent or mortgage like Knaack, funding your retirement accounts or investing in your career.
Wow, where are you that you can buy a house for $5000?
Many places, but first of all check the tax office. Properties are often sold at auction for little more than the taxes due.
This dummy is making minimum wage with kids on hand, how is there enough being with held from her earnings for a 5 thousand dollar refund?
And Now “Common Sense” is News
Don’t know who said it but they said something like “Common sense is rarely encountered despite being common”
Earned Income Credit
$5K for a down payment? Where do you live. $5K is chump change where I live.
They finally cracked down on it this year. People using the EITC and additional child tax credits had to wait until this past week before their returns would be processed. Presumably, the IRS was using the extra time to investigate the legitimacy of these tax credits instead of just taking Rosita's word that she has 17 children and cutting her a big fat check.
One simple little acronym... EIC. That plus head of household is worth about 5400 bucks.
You are overpaid for your deep knowledge of taxes. WOW.
I have never seen a house available for $5,000.00 in about 50 years.
Males no sense.
.
Eitc and child credit.
Aka welfare.
Rent only $509 a month? Love to live there.
Yes, worthless as a tax break, but she’s be on the property ladder!
Yep
She got it half-right; should take a portion of the money that would go to the rent and invest it. She’d have quite a nest egg—and sooner than she might think.
Sad, but most young Americans have no idea of the concept—or power—of compound interest.
Not bogus - she gets child tax credits plus Earned Income Credit.
I live in Gaffney, and can tell you, this is a rural backwoods hick town full of gibmedats and other leeches. I know several people who live here that know how to play the system. The lady who recieved the refund has two kids by two different thug dads. IMO, she did not pay her rent for a year. The taxpayers did.
EITC. Welfare via tax returns.
Now I see how Frank Underwood got elected from the community :).
So does our liberal mayor who has been re-elected more than Linda Graham.
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