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Income tax time...What are you buying?


BAZGUITARMAN

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* Next is a new cabinet. I`m gonna try the Randal RS125XL model. Two V30`s and one Eminence 15" in an over-sized 4x12 style cab. Should sound killer with my Boogie 4x12 and 5150 II.

 

 

take a look at the avatars.

 

they're supposed to be really nice, and not nearly as $$$.

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1. Fix a half rotted out bathroom.
2. A snickers bar (#1 will take all of the money).

I don't like giving the government the year long loan, so I try to keep my tax withholdings pretty close to actual. I just underestimated how much having a baby would lower my taxes (granted her day care bill is about double a car payment).

If there actually are a few bucks left over, I may pick up an accoustic in the $500-$700 range...

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What's the advantage of filing separately if you're married? I guess I never understood what the difference was.

 

 

 

 

I`m not sure there actually is an advantage. My wife and I file seperately because she defaulted on a school loan before we met. They take her return every year to pay the loan off.

 

So I file married, but seperately and claim the kids. That way we don`t lose it all to the loan payment, but it`s still being payed off at a steady rate.

 

What helps the most is not owing on anything and being able to file on a 1040 form. All the pre-tax stuff I do cuts down on my taxable wages so I make out like a bandit on that.

 

Eric

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take a look at the avatars.


they're supposed to be really nice, and not nearly as $$$.

 

 

 

 

Thanks for the suggestion bro. If I was going for a normal 4x12 I would definitaly buy one of Avatar`s new vintage models.

 

Unfortunately they don`t do anything like the Randall cab I`m looking at. It`s a normal, over-sized 4x12 cab, but is set up with two V30`s in the top and an Eminence 15" in the bottom. The cab has two sealed chambers to seperate the 12`s and 15". That way they don`t interfere with each other.

 

I think this cab will work great with my 5150 II since it doesn`t have too much lower mids to muddy up the tone with a 15" speaker. The bottom end should be big and tight and the V30`s will help balance it out with plenty of upper-mids cut. I`ll be running it with my Boogie 4x12 which is loaded with V30`s. It`s an experament, but I`m thinking it will be nice.

 

Eric

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My wife and I usually end up paying a little at the end of the year, even though we take zero deductions and claim $ from our home ownership and her student loans.

I never understood the folks who give the government extra dough every week though, why not just put it into a bank or credit union for the year and get some interest/and or help build up your credit? Giving the Feds extra $ every week doesn't do much for you but let them hold it for you - something that most adults on this board should be able to do for themselves.

Pete

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My wife and I usually end up paying a little at the end of the year, even though we take zero deductions and claim $ from our home ownership and her student loans.


I never understood the folks who give the government extra dough every week though, why not just put it into a bank or credit union for the year and get some interest/and or help build up your credit? Giving the Feds extra $ every week doesn't do much for you but let them hold it for you - something that most adults on this board should be able to do for themselves.


Pete

 

 

 

 

I never understood it either until I worked out a financial plan. The extra tax deduction every week is just part of it. My financial advisor actually suggested it. She thought it would be a trouble free way to have some goofy money every year but still take care of business.

 

I do it three ways. First is my retirement. I do the max allowable on my pre-tax 401K payments. That is between $100.00 and $300.00 a week depending on my over-time. Going into a very diverse account. Takes care of the future and saves a bunch on taxes each week.

 

Next is a direct deposit of $100.00 that goes into my interest bearing savings and checking accounts at the bank. That`s every week. Almost $5,000 a year drawing interest in the bank and available for emergencies.

 

The third leg is the extra tax witholdings each week. We don`t earn interest on this money, but it`s completely trouble free. Also we don`t have to worry about saving the money when there is so much going on with the family every week. Some one is always holding out their hand for something. You can`t spend the money if it`s not there so it makes controlling the variables a little easier.

 

That leaves my wife and I our paychecks to pay the weekly/monthly bills and living expenses. Both of our cars are payed off and we don`t owe a house payment. We basically just have utilities and common living expenses.

 

Makes for a great system. Retirement is taken care of. Emergencies and savings are taken care of. And silly money is there every year in the Spring.

 

Eric

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I never understood it either until I worked out a financial plan. The extra tax deduction every week is just part of it. My financial advisor actually suggested it. She thought it would be a trouble free way to have some goofy money every year but still take care of business.


I do it three ways. First is my retirement. I do the max allowable on my pre-tax 401K payments. That is between $100.00 and $300.00 a week depending on my over-time. Going into a very diverse account. Takes care of the future and saves a bunch on taxes each week.


Next is a direct deposit of $100.00 that goes into my interest bearing savings and checking accounts at the bank. That`s every week. Almost $5,000 a year drawing interest in the bank and available for emergencies.


The third leg is the extra tax witholdings each week. We don`t earn interest on this money, but it`s completely trouble free. Also we don`t have to worry about saving the money when there is so much going on with the family every week. Some one is always holding out their hand for something. You can`t spend the money if it`s not there so it makes controlling the variables a little easier.


That leaves my wife and I our paychecks to pay the weekly/monthly bills and living expenses. Both of our cars are payed off and we don`t owe a house payment. We basically just have utilities and common living expenses.


Makes for a great system. Retirement is taken care of. Emergencies and savings are taken care of. And silly money is there every year in the Spring.


Eric





nice :thu:

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My wife and I usually end up paying a little at the end of the year, even though we take zero deductions and claim $ from our home ownership and her student loans.


I never understood the folks who give the government extra dough every week though, why not just put it into a bank or credit union for the year and get some interest/and or help build up your credit? Giving the Feds extra $ every week doesn't do much for you but let them hold it for you - something that most adults on this board should be able to do for themselves.


Pete

 

 

being a student i can claim my school expenses to get back a larger refund, i don't have that option if i just try to bring in more on each paycheck (some weird tax code BS that i don't really understand)

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I never understood it either until I worked out a financial plan. The extra tax deduction every week is just part of it. My financial advisor actually suggested it. She thought it would be a trouble free way to have some goofy money every year but still take care of business.


SNIP!.


Eric

 

 

 

Hey Eric...I have met with a few advisors and never has ANY of them said giving more weekly deductions is a great idea.

 

So i have to suspect your "expert".

 

 

All the "experts" stress that personal responsibility *IS* the best way to go.

 

Do not give the government your money.

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I never understood it either until I worked out a financial plan. The extra tax deduction every week is just part of it. My financial advisor actually suggested it. She thought it would be a trouble free way to have some goofy money every year but still take care of business....


The third leg is the extra tax witholdings each week. We don`t earn interest on this money, but it`s completely trouble free. Also we don`t have to worry about saving the money when there is so much going on with the family every week. Some one is always holding out their hand for something. You can`t spend the money if it`s not there so it makes controlling the variables a little easier...

Makes for a great system....



:rolleyes:

Absolutely terrible advice! It's incomprehendible that a professional would make such a recommendation!

OK, I

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