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Old 01-06-2018, 09:24 AM   #15
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Airstream math....

Quote:
Originally Posted by rideair View Post
I don't really understand the math of having to borrow money to buy a trailer..
Here is some math (plus/minus a thousand bucks or so)......

- We bought our new Airstream SE in 2006 for about $40K. Equivalent model today is about $90K. That is an average price increase of about $4.6K/year.

- We got a low interest loan and paid it off in 4 years, giving us an acquisition cost of about $42K.

- Had we saved for 4 years, Airstream price increases would have resulted in a 2010 acquisition cost of about $58K.

So..... by buying in 2006 we "saved" about $18K and got to enjoy our Airstream for 4 years longer than had we used a savings account to buy.

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Old 01-06-2018, 09:49 AM   #16
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Can we be honest?
We're in this financial mess because congress tries to hand out cash to everyone. Except they're broke.
In reality, there should be no deductions and no exemptions to the tax code. Then the rates should be much lower. (Taxing income at all is another discussion for later).
I'm amazed when people are given the choice of 30% tax and an interest deduction vs. 20% tax and no deductions, they pine for their deductions.
Why should the government reward people buying something they can't afford (int. ded.) while at the same time punishing them for saving money (tax on int.)?

We're dealing with people who get excited because they got a big refund!!!!
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Old 01-06-2018, 10:26 AM   #17
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Quote:
Originally Posted by rideair View Post
I don't really understand the math of having to borrow money to buy a trailer, so don't really understand having the need to write-off the interest.

Kinda like a car loan, borrow money on something the goes down in value when driven off the lot, to pay interest on the money to buy it and by the time it's paid-off is worth at best .50 cent on the dollar paid, plus the personal property taxes (live in VA) on it each year as well.

My aunt once told me, if you can't pay cash for your car and toy's, you can't afford them. A rule that I have lived by for over 20 years, but then again my 2002 Excursion has 400K miles. But I don't have a payment.
What he said x2!
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Old 01-06-2018, 10:30 AM   #18
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Quote:
Originally Posted by Countryboy59 View Post
Standard deduction doubles. Actually makes things simpler. And no more ACA fine.

I'm sure they'll fix the "towable" exclusion, if there is one.
Off set by the elimination of the personal exemption.
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Old 01-06-2018, 10:46 AM   #19
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Quote:
Originally Posted by Mollysdad View Post
....
Why should the government reward people buying something they can't afford (int. ded.) while at the same time punishing them for saving money (tax on int.)?

...!!!!
Well, FIRST of all, ... YOU don't know that someone can't afford something simply because they chose to finance it. They might have plenty of assets and net-worth but choose to keep it invested than draw on it.

SECONDLY, ... DOUBLE TAXATION is simply wrong. If the interest is INCOME to someone else who must pay taxes on that income... then it seems wrong to tax it twice by not exempting that money from the tax-burden of the borrower.

If we are to overhaul the tax-code... then I think we should get rid of the tax-advantaged status of so-called religious groups and "churches". If I get a deduction for titheing... then the church should pay income tax on it and property tax on the church's real estate investments.

As for welfare in Sweden... I hate to tell you this but such income is also taxed here in the U.S. above the standard deduction. I don't know of any welfare recipients who cannot meet a standard deduction. It seems wrong to me that SS recipients must pay income tax on their SS income if that's the main source of their support, and if it's not the main source of their support then SS should be paid them.

The best solution is to allow a reasonable standard deduction and tax everything else without regard. IMO If I make the money and live in this country, then I should support the general welfare by paying a fair share of taxes...and rich folk have no need of my picking up their tab.

RV housing is similar to pre-fab housing if used similarly, and will be taxed accordingly in the new code. But RVs have skipped paying school and other local taxes in so many cases that the code should be completely re-vamped to disallow that. A co-worker of mine moves his RV from camp to camp while his kids attend public school on the local taxpayer dollar. He pays no local taxes and I wonder about that. (But I suppose the campground does, so maybe that's a "wash".)
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Old 01-06-2018, 11:18 AM   #20
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Quote:
Originally Posted by Tincampers View Post
Off set by the elimination of the personal exemption.
Step in the right direction. Maybe we can get a flat tax someday.
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Old 01-06-2018, 06:08 PM   #21
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All the changes in the income tax code are pretty hypothetical at this point since nobody has paid or saved any taxes yet. What is real to me is the extra 20 cents per gallon of tax on diesel fuel I pay every time I fill up my truck. Diesel in California has gone from less than regular unleaded to more than premium, since the new tax has passed.
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Old 01-06-2018, 07:07 PM   #22
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Quote:
Originally Posted by McDave View Post
All the changes in the income tax code are pretty hypothetical at this point since nobody has paid or saved any taxes yet. What is real to me is the extra 20 cents per gallon of tax on diesel fuel I pay every time I fill up my truck. Diesel in California has gone from less than regular unleaded to more than premium, since the new tax has passed.
Probably has nothing to do with the tax bill. Fuel prices go up and down with the market, and the market is Rockin!
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Old 01-06-2018, 07:33 PM   #23
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It didn't have anything to do with the federal income tax bill. California passed a new road tax bill increasing fuel taxes in general, but increasing diesel fuel taxes 20 cents a gallon more than gasoline taxes were increased. Maybe diesel users deserve it, I don't know, but it is still galling to me to be on the receiving end of it, and I considered it worth mentioning since many of us use diesel powered trucks to pull out Airstreams.
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Old 01-06-2018, 09:21 PM   #24
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The higher cost of diesel is based on the fact OTR truckers will pass the increase to us through higher cost of goods.

If they put the higher tax on gas you would complain in a very loud voice since you would feel it every time you fill up.

Its all political motivated.
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Old 01-06-2018, 10:20 PM   #25
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Yes...can not imagine having a mortgage on anything...how does one sleep at night knowing while you are sleeping the interest is continues to add to the note....$$$$
You could have purchased a used Airstream you could afford instead of a new one. When you can afford it, you can sell the used Airstream, maybe for more than you pd for it, and buy a new one debt free. That would have allowed you to have used the older Airstream practically for free when you sell it as it will retain its value better than new. That is why our tow is 8 years old and our Airstream is 9 years old. Both in excellent condition, no need for new.
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Old 01-07-2018, 01:36 PM   #26
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Quote:
Originally Posted by perryg114 View Post
Why would you buy an RV with a loan in the first place? It is a toy not a necessity.


Itís cheaper.

Iíll use someone elseís money to buy my RV while my own money makes more in the stock market. (And then thereís the flexibility and benefit of preserving your cash flow but thatís too complicated to type with my thumbs.)

Whenever I can get low interest or no interest money I do. Itís free profit. Same with using credit cards: I almost never use cash or write a check...instead I get 60 days of free float by using a charge card and then paying the bill.... (and then thereís points and discounts which add up too).

If you control the financial tools instead of letting them control you, it can make a pretty big difference over time....
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Old 01-07-2018, 02:17 PM   #27
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Bingo to many of the people responding on this thread.

The majority of us will benefit from new tax bill, majority being the pertinent word. Using others monies in place of your own is most often prudent, hands down. Paying w/cash is best if you can. 2015 stock market return on my investment 34%, yahoo! 2016 investments 18% not 34% however still good returns. 2017 moving forward in the right direction. Line of credit is not a good avenue to borrow, home refinance will still allow itemized unless this is what you do, yes there is a lid. Now the touchy one to discuss, States w/HIGH TAXES you are not the majority and the rest of us have been subsidizing you and your elected spenders for way to long. Option 1 you don't like, throw the bums out! Most if not just about all have never worked in the private sector and most likely would not succeed. Option 2 move to a user friendly state.

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Old 01-07-2018, 03:07 PM   #28
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Seems the new Tax bill has a few surprizes in it.

As a Long-time California resident, you are absolutely right in your assessment. Large population of tree-huggers, advocates for this and that, and folks voting for bread and circuses without regard to how to pay for all the giveaways. Been trying to throw the tax and spend types in the state house out for years. Iím real tired of spending my tax dollars on stuff that dead not benefit me or my family...

That hasnít worked, so eventually Iím going for option #2, just need to decide where...
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