1. #76
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    Quote Originally Posted by CaptOldTimer View Post
    Crow got a bonus? For What? Pray tell.
    Bonuses are given provided you have enough billable hours in the quarter. If you do shoddy work you don't get the billable hours and hence no bonus. Those of us that do excellent work get the billable hours because our services are often requested.

  2. #77
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    Quote Originally Posted by scfire86 View Post
    That's because your bonus is taxed at that level.

    I think you should stop performing at the bonus level. That'll show 'em.
    LOL - Yes, I guess it would. It is just so frustrating to see a nice raise or bonus that one has earned decreased by 40%. This is why I say it would almost be better to get more time off, or perhaps a better medical plan. Although my plan right now cost me $600 per year with $15 co-pays. It would be difficult to do better.

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    Quote Originally Posted by ScareCrow57 View Post
    Actually, it doesn't. Last year I had $15,887 withheld from my paycheck. I got a refund of $2708. Part of that is I got a $4,000 credit for tuition and put $100 in a small IRA I have to get interest. that $4,100 was taxed at the 25% rate which means I got an extra $1,025. I also got $200 from the State of NY for being a volunteer fire fighter. Without that extra $1,225 my refund would have been $1,483 combined. Which meant I would have paid $14,404 in total taxes.
    So you made about $35,000+-?

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    Quote Originally Posted by Acklan View Post
    So you made about $35,000+-?
    Taxable income of $40,000

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    Quote Originally Posted by ScareCrow57 View Post
    Nope, didn't pay for it all. I took advantage of tuition assistance plans offered up by employers. Nope, I didn't take any courses in finance. However, I am currently engaging in one. Also, as I have found through experience and dealing with accountants there are many times when buying on credit is appropriate.
    I would agree there are times when buying on credit is appropriate. Depreciating assets is rarely one of them.

    Quote Originally Posted by ScareCrow57 View Post
    Yes, but you responding to a comment where I specifically spoke to income taxes.
    I wasn't.

    Quote Originally Posted by ScareCrow57 View Post
    LOL!! Couldn't resist You did the same one twice. Of course you missed out on the body language and voice inflections that said that was meant to be humorous. That is what happens with electronic communications, a large part of the message often gets lost or is never transmitted.
    Don't sell yourself short. I laugh hysterically at your posts. Especially the ones that you don't intend to be funny.
    Politics is like driving. To go forward select "D", to go backward select "R."

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    Quote Originally Posted by scfire86 View Post
    I would agree there are times when buying on credit is appropriate. Depreciating assets is rarely one of them.
    Actually, I would disagree with that blanket statement as well. I will give a perfect personal example. I heat my home with oil at a cost of about $2,000 per year, this also heats my hot water. I can put in an outside wood boiler at a cost of around $8,000. Since I have access to free wood this cuts my annual cost from $2,000 down to around $500. An annual savings of $1,500. The lifetime of these boilers is 25 years or more. However at an annual savings of $1,500 I can pay the cost of the boiler off in 6 years. And with the $1,500 tax incentive that currently exists it would be foolish not to put it in this year. Hence, in this case it makes 110% sense to purchase the boiler on credit, an item that depreciates in value.

    In my case the system I am getting comes in an indoor model for $5,200. So I am building a 30 x 30 garage to house the unit and the wood. The total cost for everything is around $12,000, half of which I have saved.

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