Seems the new Tax bill has a few surprizes in it.

[McDave]

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.

[Countryboy59]

Originally Posted by McDave

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!

[McDave]

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.

[garry]

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.

[StreamNTyme]

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.

[thiel]

Originally Posted by perryg114

Why would you buy an RV with a loan in the first place? It is a toy not a necessity.

It’s cheaper.

I’ll use someone else’s money to buy my RV while my own money makes more in the stock market. (And then there’s the flexibility and benefit of preserving your cash flow but that’s too complicated to type with my thumbs.)

Whenever I can get low interest or no interest money I do. It’s 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 there’s 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....

[sbowman]

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.

Safe Travels

[rmkrum]

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. I’m real tired of spending my tax dollars on stuff that dead not benefit me or my family...

That hasn’t worked, so eventually I’m going for option #2, just need to decide where...

[Countryboy59]

Originally Posted by garry

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.

Actually we're pretty lucky gas is below $3. We buy just as much when it is $4, or even $4.50. It is what it is.

[InterBlog]

FWIW, this part might be of interest to still-working Airstreamers, full-time or not, quote taken from that same article:

"[the new tax bill will] Lower the tax rates to 20% for qualified business income of certain small businesses that pass on profits to owners and are taxed at individual tax rates."

I haven't verified this, but they appear to be referring to Schedule C filers, which many of us micro-business owners are. The brutal reality of being taxed this way is that my marginal effective tax rate is exactly 50% on a resoundingly middle-class income (my husband and I handle our own taxes, so I know this for certain). And I live in Texas, which has no state income tax. It's a HUGE disincentive to innovation and small business development generally. It restricts the number of contracts that I choose to accept each year, because beyond a certain relatively low earning point, it's just not worth working only to give that much money away. Certainly not while my husband is employed full-time.

I ran into a fellow business owner in the post office last April and he was absolutely red-faced as he was posting his tax return payment. I asked him what was wrong. He said, "Fifty-one percent - it's obscene!" I replied, "This is Texas, man, it's supposed to be 50%. Where did you come up with your extra 1%?" We couldn't figure out our discrepancy. We had used the same filing software.

[rideair]

The funny part about it, over the past 17 years, I’ve purchased paying cash, a 1970 Safari Special, 1966 Overlander and a 1956 Safari Front Kitchen with a total investment of 41,500 which includes all repairs, restoration cost and upkeep along with many others that were flipped to help pay the freight. Those trailers are now worth in a range of $65,000-$95,000. I’ve been able to camp since the very first day of purchase, and most of the time had a “back-up” trailer just in case that could be used.

My personal belief is borrowing money ‘”maybe” fine and can be the right thing to do for taxes, if it’s for a business or something that “appreciates in value” NOT “depreciates in value”(like in a real-estate) no matter how you run the numbers.

I’ve seen to many folks that have job’s or even their own business that when things are going well, buy everything on credit (to write it off). The problem becomes when the economy slows and their business slows with it or they get laid off from their job. Sure, they may have some money in the bank, or the market, but how many of them pull that cash/assets out to pay-off the toys, keep the payments up, etc.… Since they are in survival mode, the toys are “always” the first to go and get repo’d.

I guess, the old saying is out:
“It’s not the man that dies, but the man that dies with the most toys, who wins”

I guess the new saying/belief is in:
“It’s not the man that dies with the most toys, but the man that dies with the most toys “which are not paid for” who truly wins!”

Enjoy,

[carl2591]

Then you are going to absolutely love this fricken ****..

http://fortune.com/2017/12/20/conser...tion-loophole/

seem you can "give land" away and make a fricken mint doing it.. another scam by both parties.

the rich make sure the rich stay rich on your and mine backs.. plain and simple the reason we need term limits in congress and house.

Originally Posted by rmkrum

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. I’m real tired of spending my tax dollars on stuff that dead not benefit me or my family...

That hasn’t worked, so eventually I’m going for option #2, just need to decide where...

[xrvr]

Originally Posted by InterBlog

FWIW, this part might be of interest to still-working Airstreamers, full-time or not, quote taken from that same article:

"[the new tax bill will] Lower the tax rates to 20% for qualified business income of certain small businesses that pass on profits to owners and are taxed at individual tax rates."

I haven't verified this, but they appear to be referring to Schedule C filers, which many of us micro-business owners are. The brutal reality of being taxed this way is that my marginal effective tax rate is exactly 50% on a resoundingly middle-class income (my husband and I handle our own taxes, so I know this for certain). And I live in Texas, which has no state income tax. It's a HUGE disincentive to innovation and small business development generally. It restricts the number of contracts that I choose to accept each year, because beyond a certain relatively low earning point, it's just not worth working only to give that much money away. Certainly not while my husband is employed full-time.

I ran into a fellow business owner in the post office last April and he was absolutely red-faced as he was posting his tax return payment. I asked him what was wrong. He said, "Fifty-one percent - it's obscene!" I replied, "This is Texas, man, it's supposed to be 50%. Where did you come up with your extra 1%?" We couldn't figure out our discrepancy. We had used the same filing software.

Get the facts before making assumptions.

[rideair]

The use of “conservation easements” have been used big time by the old money folks that live around me. The likes of Melon, Anheuser Busch, Sara Lee Corp. and others currently have 1000’s of acres of land in this “program” and in recent years are always quick to buy up any land that comes available.

Lucky for me, I found a house with 3.5 acres right in the middle of it over 20 years ago, the day it came on the market and wrote a contract. This has become the tool of choice in order not to pay full real-estate taxes on property of which you own. When looking at the tax maps the other day, I saw where one paid less property tax on 150 acres parcel of ground than I do for my 3.5 acre lot. Is it right? I don’t know, but it is nice driving home every day looking at all the wide open space knowing it will never be built on in my lifetime. I’ve already told my 16yrs daughter never to sell it, because she will never be able to get it back.

[InterBlog]

Originally Posted by avionstream

Get the facts before making assumptions.

Oh, I'd like nothing more, but when the better investigative and analytical sources (e.g., Forbes vs. the NYT ) don't quite agree on the "facts" of the final bill's impacts in this regard, it's a challenge.

[xrvr]

True.

[rideair]

Oh, and as a side note to “conservation easements”

When the price goes up in terms of value, it hurts the Federal tax dollars, but only so much.

The real problem becomes when the local land value is now cut to 25% or less on the property from a tax bases. You now have a property where the local county is getting little to no tax dollars for that piece of property. This reduces tax dollars directly to the county coffers, which then affects the local schools, roads, etc.… but that’s really not a problem for them, since their kids are going to private or boarding schools. Right now there is close to 10,000 acres around my house which is in this program.

Due to the school systems in my county (not real good), I too had to pay for my daughter to attend private schools.

Again, love to "Look" at the wide open spaces, and it comes at a cost. But never forget, at least where I live, those wide open spaces are not for the locals, step foot on them and you go to jail real fast.

[Mollysdad]

Originally Posted by Boxite

The best solution is to allow a reasonable standard deduction and tax everything else without regard.

Actually, the only fair tax is a consumption tax. Everyone pays, there are no "loopholes" that favor a certain group.

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.

I'm still trying to get anyone to tell me what my "fair share" is. It appears to be a moving target. Perhaps you can tell me.

...and rich folk have no need of my picking up their tab.

Since the "rich" (whatever that is) pay over 70% of the taxes, and the bottom 50% of taxpayers pay nothing. I don't think you're in danger of funding the rich.
Besides, what do the rich do? They buy Airstreams, cars, airplanes, boats, homes, etc. Guess who makes all that stuff? Hard working taxpayers who like having a job.
I remember when some genius decided on a "Luxury tax on yachts". It killed the boating industry in Florida. The rich still bought yachts, just one's made in Italy, Taiwan, and places happy to take their money.

Steve Jobs didn't become a billionaire by stealing i-pads from homeless people.

[Boxite]

Originally Posted by Mollysdad

Actually, the only fair tax is a consumption tax. Everyone pays, there are no "loopholes" that favor a certain group. ....

That's not true. Poor pay a disproportionate share of their income for necessities while rich and executives have corporations supply them with luxuries that are deducted. If all the artwork in exec offices were taxed as the property it is...there'd be no need for individual income taxes below middle class.

Another post:"...throw the bums out! Most if not just about all have never worked in the private sector and most likely would not succeed...."
Just like most of the private sector has no knowlege of public-service or gov't and will not succeed in public office because they have no experience there. Our present situation proves that.

As for the idea of having "term limits".... We already HAVE term limits. They're called "Elections". We can keep the ones who peform and who we like...and still throw the BUMS out. What we need to get rid of is citizens-united and lobbyists, ...and institute complete financial reporting of contributors AND candidates.

[TexasMarci]

It's not a matter of whether you can afford to pay cash or not - rather - it's just how you choose to manage your money. Even if you can afford to write a check for nearly $100k for a new Airstream, you may be in a position where taking this amount of money from an account could translate into ""income"" for you and be taxable in that year. Instead, if you can borrow 3.5% money when your accounts are earning more than 25%, maybe that is the best choice. Either way works - just a note that borrowing at today's low interest rates may be attractive for some people for various reasons. It doesn't mean they don't have the money - it just means they would prefer to keep their money working for them in profitable accounts for as long as this run might last. Just a thought.....