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A single mom used her tax refund to pay her rent—for the entire year
CNBC ^ | 2-25-17 | Kathleen Elkins

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.


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: South Carolina
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"I got back $5600 on my taxes. Instead of buying my kids the latest Jordans or fancy electronics I paid my rent for the YEAR. I'm a single mom and I do it all buy myself on a minimum wage job. I kno that a roof over my kids head is what's important. My kids don't want for anything because my priorities are straight. And this also means I will have that extra 450 a month to do things with my kids."

1 posted on 02/25/2017 4:52:28 PM PST by TaxPayer2000
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To: TaxPayer2000

Must be nice to get a refund. For some reason, I always have to write a check. Oh well at least she didn’t blow it on junk.


2 posted on 02/25/2017 4:55:17 PM PST by napscoordinator (Trump/Hunter, jr for President/Vice President 2016)
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To: TaxPayer2000

[And this also means I will have that extra 450 a month to do things with my kids.]

Try to save some of that too.


3 posted on 02/25/2017 4:56:17 PM PST by headstamp 2 (Fear is the mind killer.)
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To: TaxPayer2000

Good for her


4 posted on 02/25/2017 4:56:39 PM PST by Nifster (I see puppy dogs in the clouds)
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To: TaxPayer2000
Why would a minimum wage earning, single mom be over withheld by $5400 ? Sounds bogus to me.

ML/NJ

5 posted on 02/25/2017 4:56:42 PM PST by ml/nj
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To: TaxPayer2000

Good Mom, I’m glad she got her act together.


6 posted on 02/25/2017 4:57:15 PM PST by House Atreides (Send BOTH Hillary & Bill to prison.)
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To: TaxPayer2000

She had too much withheld from her salary? I doubt it. This was not a “refund” most likely. This was one of those “tax credits.” Good for this mom, but for millions of folks, these tax “credits” are just another form of the “gimme dat alliance.”


7 posted on 02/25/2017 4:57:45 PM PST by oldplayer
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To: TaxPayer2000

If she’s working for minimum wage, she didn’t “get back” $5600.

She “got” tax credits far and above whatever she paid in.


8 posted on 02/25/2017 5:00:05 PM PST by digger48
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To: ml/nj

Yeah, the math doesn’t really make sense. If this is a legitimate story she’s having way too much withheld.....like $5400 too much,


9 posted on 02/25/2017 5:00:11 PM PST by clintonh8r (AMERICA! THANK YOU FOR MAKING MY SCREEN NAME OBSOLETE!)
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To: TaxPayer2000

How does one get a 5400 dollar refund while working at a minimum wage job?


10 posted on 02/25/2017 5:00:14 PM PST by meyer (The Constitution says what it says, and it doesn't say what it doesn't say.)
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To: ml/nj

Earned income Credit, that my tax payment pays for.


11 posted on 02/25/2017 5:00:26 PM PST by boomop1 (Term limits is the only way to change this failed government.)
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To: ml/nj
"Why would a minimum wage earning, single mom be over withheld by $5400 ? Sounds bogus to me."

Earned income credit? Child care credit?

12 posted on 02/25/2017 5:00:43 PM PST by mass55th (Courage is being scared to death - but saddling up anyway...John Wayne)
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To: ml/nj
Agree. The numbers do not add up.

Minimum wage in SC equates to about $15,000 per year. She likely is a waitress and declares tips to boost her income. With three deductions and an earned income tax credit, she may have just used money from 'we the people' to cover her rent.

None the less it was a smart move and legal.

13 posted on 02/25/2017 5:00:44 PM PST by Michael.SF. (Women who are 25 pounds overweight tend to live longer than the men who mention it.)
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To: napscoordinator

obviously you do not know how to claim on state and federal in order to be at point zero or to get a dollar bill back....nice guys finish last....do you realize the majority of our politicians are getting refunds?...think about it for a second?


14 posted on 02/25/2017 5:00:53 PM PST by mythenjoseph
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To: ml/nj
Agree. The numbers do not add up.

Minimum wage in SC equates to about $15,000 per year. She likely is a waitress and declares tips to boost her income. With three deductions and an earned income tax credit, she may have just used money from 'we the people' to cover her rent.

None the less it was a smart move and legal.

15 posted on 02/25/2017 5:01:02 PM PST by Michael.SF. (Women who are 25 pounds overweight tend to live longer than the men who mention it.)
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To: oldplayer; digger48

I think you’re right....credits, not a refund.


16 posted on 02/25/2017 5:01:31 PM PST by clintonh8r (AMERICA! THANK YOU FOR MAKING MY SCREEN NAME OBSOLETE!)
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To: ml/nj

child tax credit and EIC.


17 posted on 02/25/2017 5:01:35 PM PST by USNBandit (Sarcasm engaged at all times)
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To: TaxPayer2000

Why is this even news?

Does CNBC assume everyone wastes their money on frivolities instead of necessities?

Or is it that they expect that only of low-income people?


18 posted on 02/25/2017 5:01:50 PM PST by Chad N. Freud (FR is the modern equivalent of the Committees of Correspondence. Let other analogies arise.)
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To: ml/nj

I think a lot of low wage earners with kid(s) get such large “refund” checks. It’s due to “refundable” tax credits which can result in large refunds for “taxes” which were never actually withheld.

These refundable credits can be really abused...especially by illegal aliens with no SSNs and “imaginary” dependent children.


19 posted on 02/25/2017 5:02:10 PM PST by House Atreides (Send BOTH Hillary & Bill to prison.)
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To: Nifster

Agree 100%.


20 posted on 02/25/2017 5:02:13 PM PST by utahagen
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