If it moves tax it says Obama
March 25th, 2009 by admin
There is a law, the Law of Conservation of Energy, says that energy can neither be created nor destroyed. The energy in a gallon of gas is transformed into the energy needed to turn the tires by the engine. Combustion is used to transform this energy.
Similarly the coal that is burned in the power plant is used to heat water - transferring energy to the steam, and the steam turns a generator that produces the electricity that flows in the wires to light (and heat) the bulb in your lamp.
Why if nothing is created or destroyed is it taxed?
Prices going up on goods to Mexico
March 16th, 2009 by admin
Mexico is raising tariffs on goods to imported from the US because of the Obama administration’s backpedaling on NAFTA guarantees that Mexican truckers would be allowed to carry their loads into the US.
Prices will be going up on 90 industrial and agricultural products (but not reportedly on staples like wheat and corn). So fewer people will be buying US goods.
The excuses for this are complete nonsense. Jim Hoffa (his father’s son) says the Mexican trucks are unsafe -although they have to pass the same inspections US trucks do. Hoffa, head of the Teamsters Union wants the trucks to stop at the border, be unloaded by Teamsters, loaded by Teamsters on a US truck and sent on their way. Of course the Teamsters don’t work for free so the price of goods imported to the US on these Teamsters transferred goods will be higher than if the truck drove from the Mexican factory to the US distributor.
Obama bent over backwards to remove the ‘use US only steel’ in the bloated bill he signed so as not to upset Canadian steel producers and face similar tariffs from Canada.
So much for existing treaties, so much for saying he didn’t want to repeal any part of NAFTA.
Pay attention and get what you pay for.
March 12th, 2009 by admin
As I was driving home from the office I noticed a sign that offered “Free tire rotation with the purchase of four new tires.”
It certainly sounds good, a free tire rotation, that should save you about twenty bucks. That seems good to me. However why would you need to rotate new tires? Do they mount them on the rims, put them on the car, and then take them off and move them to a new spot on the car?
Remember to pay attention so you get what you pay for. If I were buying tires I would tell them to skip the rotation but take twenty bucks off my bill.
The stimulus, what is in it for you?
February 26th, 2009 by admin
Since I am not an elected representative I could not vote against the stimulus, but I told my elected officials what I thought. Apparently they didn’t care (well my Congressman voted against it, but my Senators did not).
Months in the making, the massive federal stimulus program is now a reality.
Find out if there’s anything in the new law that of which you can take advantage:
Wage-earners and the Self-employed
A payroll tax credit will put an extra $400 in many Americans’ pockets in 2009 and 2010 ($800 for married couples). Employees should promptly realize the benefit through reduced withholding from their paychecks. If you’re self-employed, talk to your tax professional about reducing your quarterly estimated tax payments. Like many features of the stimulus plan, this break isn’t for everyone—the credit starts to phase out when your income reaches $75,000, or $150,000 for married couples filing a joint return.
First-time Homebuyers
To bolster the real estate market, the stimulus package offers a tax credit equal to 10% of the purchase price of a first home. Tax credits are more valuable than deductions because they offer a dollar-for-dollar reduction of your tax bill. This one is capped at $8,000 and applies to homes purchased between Jan. 1 and Dec. 1, 2009.
Your right to claim this credit starts to phase out once your income exceeds $75,000 for singles and $150,000 for married couples. Unlike a similar credit passed last year, this one doesn’t have to be repaid—unless you sell the home within three years.
New Car Purchasers
If you buy a new car, light truck, sport utility, recreational vehicle or motorcycle after Feb. 17 and before Dec. 31, 2009, you may be able to deduct the state and local taxes you paid with your purchase. Used cars don’t count.
You don’t even have to itemize your deductions to get this benefit, but there are two important limitations:
You can only deduct taxes paid on the first $49,500 of the vehicle’s price.
The tax break starts shrinking once your income hits $125,000 for singles and $250,000 for married couples.
According to U.S. Senator Barbara Mikulski, D-Md., who sponsored the legislation, a family making less than $250,000 a year would save $300 to $600 on a new car.
The Unemployed
The legislation provides two key benefits for those who’ve lost their jobs:
A tax break on benefits. Federal unemployment benefits are usually taxable, but the first $2,400 will be tax-free in 2009.
Health insurance subsidies. When you lose your job, you generally have the right to keep your health insurance for 18 months—but usually at a much higher out-of-pocket cost. To ease that pain, the stimulus plan creates a federal subsidy to cover 65% of the cost for the first nine months. To be eligible, you must have been forced from your job between Sept. 1, 2008 and Dec. 31, 2009. Also, your income can’t be greater than $125,000 for individuals or $250,000 for married couples.
Students
The plan has three features focused on making higher education more affordable.
A bigger and better HOPE credit. This tuition credit will rise to $2,500 in 2009 and 2010, will be available for four years instead of two, and can now be applied to the cost of books. Eligibility is more liberal too, with the credit phasing out when income reaches $80,000 for singles and $160,000 for couples.
Larger Pell Grants. These federal education grants for lower-income students will max out at $5,350 in 2009 and $5,550 in 2010—a $500 increase from the current schedule.
A new use for money in 529 plans. These attractive college savings plans, which allow tax-free withdrawals for qualified expenses, are now even more flexible since they may be used to buy computers, software and Internet service.
Energy Savers
In 2009 and 2010, homeowners can take advantage of a 30% tax credit—up to a maximum $1,500—for energy-saving improvements like:
Energy-saving water heaters, air conditioners and heat pumps
Biomass stoves
Increased insulation
Energy-efficient doors, windows and skylights
N.B. This is not legal, tax, or estate planning advice.
Frugal cooking
February 23rd, 2009 by admin
I found Clara who had produced a number of videos of Depression era cooking. You can certainly use those principles today. Building on my new five ingredient rule I have tried some of the dishes Clara makes and they are good, inexpensive, and filling.
Clara of course has her own website. She may be 93 years old but she is web savvy.
Five ingredient rule
February 15th, 2009 by admin
If something in the grocery store has more than five ingredients don’t buy it.
It is too expensive and not good for you. If you need it and it has more than five ingredients make it yourself. I looked at bread in the grocery store this evening it had 22 ingredients.
If it has mono or di- anything don’t buy it.
I started making my own bread about 18 months ago. I don’t use a lot of bread so it is easy for me. Flour, yeast, salt, sugar, water, milk, butter and and over are really all you need. You can find many great recipies for bread online.
I am going to strictly adhere to my new five ingredient rule, lets see how it turns out.
Shoes, trees, seatbelts
February 8th, 2009 by admin
OK the shoes and trees are really shoe trees. Shoe trees help your shoes last longer and thus save you money. Shoe trees help shoes retain their shape, and they open up the shoe to air circulation. They are especially helpful if your shoes are damp from walking in snow or rain, or into the ocean or in the bathtub, well you get the idea. They are available for men and women’s shoes. The link above is not the only place you can get them, I have some great ones from them, but price is important. When buying shoe trees avoid metal and plastic shoe trees as they are not as absorbent as wooden shoe trees. I find cedar to be really nice.
Seat belts. If you car has them wear them. If you have an accident you will have fewer medical bills if you have worn your seat belt. You are also less likely to die. Two 18 year old girls near me were thrown from their car when it flipped yesterday, one died, the other is in the hospital on life support. They were not wearing seat belts.
An easy tax credit from the US Federal government.
February 3rd, 2009 by admin
If you are going to replace a water heater, heater, air conditioner or similar large appliance in 2009 you may as well make sure it is energy efficient and meets the requirements for a tax credit (credits beat deductions):
-electric heat pump water heaters: $300;
-electric heat pumps: $300;
–central air conditioners: $300;
natural gas, propane or oil water heaters: $300;
-natural gas, propane or oil furnace or hot water boilers: $150;
-advanced main air circulating fans: $50; and
-biomass stoves that use “any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers”: up to $300.
Find these nifty credits and other state specific programs to reduce your taxes at DSIRE
Don’t buy silly things. Buy ingredients.
February 2nd, 2009 by admin
Doing my shopping last weekend I noticed that there were lots of silly products in the grocery store. The first is a battery operated brush for cleaning glasses. If you can’t get your dishes clean without a battery operated brush then you need different dishes.
Sure, it is sometimes hard to get glasses clean, but if you can’t reach into it with a cloth and clean it out, then you are leaving dirt and germs in that glass. Clean it as well as you can and then plunge it into a very dilute (one ounce per gallon) solution of bleach in water. Rinse in cool water - no electric appliances required!
Another silly product is facial tissues with lotion. What possible need could there be for lotion in facial tissues. Sure if you use a lot of tissues your nose may get a bit abraded, but if you need lotion get some lotion. Tissues with lotion make them useless for the many other uses such as cleaning your glasses, or your computer monitor because it leaves a greasy film.
I also noticed there are many brand names that are much more expensive than non-brands and store brands. Medicine are a great example. If you are looking for aspirin buy aspirin by looking for the ingredient on the label, you may not need Bayer or any other expensive name brand. If you are not certain if medications are the same, ask a pharmacist they are happy to tell you. Also try the store brands if possible, they are generally cheaper, and the store makes a higher mark up on them while keeping them priced under the the brand name products.
Certainly this works for medicine, but it also works for canned vegetables and laundry detergent. I have not used Tide or All for years, and I find the store brands just as good as the Green Giant corn.
Be price conscious
January 21st, 2009 by admin
Yesterday I wanted to buy some ibuprofen tablets to keep at my desk in the office (no need to go into why I need them at the office). I went to the local grocery store and noted that a name brand, Advil was $6.99 for 100 tablets (200mg strength). The store brand was $4.99 for the same number of 200mg tablets. Having been a nurse I thought that five cents each for a Motrin (another brand name) was a bit much. I didn’t buy either one.
I did go to the dollar store and amazingly enough I found 100 tablets of 200mg ibuprofen for … a dollar.
It is important to know what things cost so you can make an informed decision, in this case I would have only spent a few dollars extra, but the prices for some things, including ibuprofen are all over the map.Froogle.com is a good price comparison site if you are in the US, there are others as well.
Knowing what something should cost - at least approximately - is a great benefit, it allows you to weed out the overpriced items qucikly. It works as well for mobile phones, and cars as it does for ibuprofen.