RV-List Digest Archive

Fri 03/19/10


Total Messages Posted: 4



Today's Message Index:
----------------------
 
     1. 04:49 AM - Twists and Turns was : TaxesTaxesTaxesTaxes (Ed Anderson)
     2. 05:00 AM - Re: Taxes (Tom & Cathy Ervin)
     3. 07:26 AM - Re: Taxes (Ralph & Maria Finch)
     4. 10:25 AM - Re: Taxes (Sherman Butler)
 
 
 


Message 1


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    Time: 04:49:32 AM PST US
    From: "Ed Anderson" <eanderson@carolina.rr.com>
    Subject: TaxesTaxesTaxesTaxes
    One thing you may want to check on (if applicable to you), is how your state of choice treats different categories of retirement income. For example if you have federal retirement (of military)income and retired before 1989 it is exempt from NC state income taxes due to a US Supreme Court ruling that states could not treat state employee and federal employee retirement different. Some states at the time did not tax state employee income (or not at the same rate as federal), North Caroline and Virginia were a couple of examples. Most states elected to apply taxes to the state employee rather than exempt federal as well - surprise! However, in NC their Supreme Court ruled that the state employees who retired before 1989 had a "Contract" with the state and since their retirement income had taxes waived, then so must federal retirement income for those who retired before 1989 (or were 100% vested) . They quickly rectified their "oversight" but were not permitted to make it retroactive. Just mentioning this as one example - which may or may not apply. But, it can make a big difference Ed Ed Anderson -----Original Message----- From: owner-rv-list-server@matronics.com [mailto:owner-rv-list-server@matronics.com] On Behalf Of Chuck Weyant Sent: Thursday, March 18, 2010 10:24 PM Subject: RE: RV-List: TaxesTaxesTaxesTaxes Emrath, Thanks so much for the info. TN is sounding better all the time. Chuck Do not archive -----Original Message----- From: owner-rv-list-server@matronics.com [mailto:owner-rv-list-server@matronics.com] On Behalf Of emrath Sent: Thursday, March 18, 2010 9:26 AM Subject: Re: RV-List: TaxesTaxesTaxesTaxes Chuck, I live near Nashville and hanger at KMQY Smyrna TN. Several RV's park there and there a lots in the area close by. Hanger space is a premium however. I can say that TN does not have a state income tax but they do have a Hall Tax that taxes interest and dividends at 6%, but there is a personal exemption and there are lots of types of interest income that are tax exempt (I'm not a tax advisor). Property taxes are lower than other places I've live. I do like the Chattanooga area and 1A3 may be something I should look at! Marty RV-6A just about ready for inspection. Time: 07:14:48 PM PST US From: "Chuck Weyant" <chuck@chuckdirect.com> Subject: Taxes Wooee. Thanks for the invite. Who knows, just might do that. How's taxes, etc., in GA? Chuck _____ From: owner-rv-list-server@matronics.com [mailto:owner-rv-list-server@matronics.com] On Behalf Of Bret Smith Sent: Wednesday, March 17, 2010 6:16 PM Subject: RE: RV-List: Taxes Chuck, I live in GA near the TN/NC border and keep my plane at Copperhill, TN (1A3). Beautiful country and close to both Chattanooga and Atlanta. Lots of Florida retirees here with hiking, camping and fly fishing streams everywhere. We have an active EAA Chapter nearby (www.eaa1211.org). Why not visit and stay with us to get a feel for the area. Bret Smith RV-9A N16BL Blue Ridge, GA www.FlightInnovations.com From: owner-rv-list-server@matronics.com [mailto:owner-rv-list-server@matronics.com] On Behalf Of Chuck Weyant Sent: Wednesday, March 17, 2010 6:52 PM Subject: RE: RV-List: Taxes David, Thanks so much for your words of wisdom. How right you are about not reducing ones income to avoid taxes. I am recently retired but have numerous modest investments (stocks, real estate, and two airplanes). I received some correspondence from a developer/pilot in Tennessee. TN is 49th in state taxes with Alaska (petroleum rich) being 50th. That is good. My wife and I spent some time in TN two years ago and loved it there. Don't know what it would be like to live there though. Well, we don't have to make a decision immediately, so will continue to gather more info. Again thanks for you words of wisdom. They're greatly appreciated, Chuck _____ From: owner-rv-list-server@matronics.com [mailto:owner-rv-list-server@matronics.com] On Behalf Of d-burton@comcast.net Sent: Wednesday, March 17, 2010 7:43 AM Subject: Re: RV-List: Taxes It will make a huge difference what your personal situation is. Are you working? Do you have substantial investments? Income? Own a home? A business? We all pay on average about 42% of our income in taxes each year. (Not income taxes. All taxes in total). Everybody in developed countries does. This comes as a big surprise to most people. You can look at your personal situation and find the best way to maximize your income and minimize your tax obligation. Just be careful that you don't figure out how to pay a tiny amount of tax at the expense of earning a tiny amount of money. What is important at the end of the day is what remains in your pocket... This article was written for retirees but can give you some things to think about and resources to do some additional research on different states: http://moneycentral.msn.com/content/retirementandwills/p45875.asp The other problem is that things don't stay the same forever. My state (Washington) which has the same budget problems most other states do at the moment has looked and the "wealthy" airplane owners who are not paying their "fair share" of taxes and is proposing to add a huge use tax to aircraft this year. Florida (where I have lived twice) is great and I'm considering living there again at least part time has incredibly low taxes. Unfortunately since taxes have been chopped to unsustainable levels, and there is not adequate revenue to support what little government services there are there, at some point in the near future things are likely to change dramatically for the worse. I think finding a place friendly to aviation with good flying weather may drive the decision. DavidB RV6 href="http://www.matronics.com/Navigator?RV-List">http://www.matronics.com/N avigator?RV-List href="http://forums.matronics.com">http://forums.matronics.com href="http://www.matronics.com/contribution">http://www.matronics.com/c http://www.matronics.com/Navigator?RV-List http://forums.matronics.com http://www.matronics.com/contribution __________ Information from ESET NOD32 Antivirus, version of virus signature database 3267 (20080714) __________ The message was checked by ESET NOD32 Antivirus.


    Message 2


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    Time: 05:00:34 AM PST US
    From: Tom & Cathy Ervin <tcervin@embarqmail.com>
    Subject: Re: Taxes
    =C2- The bigger the government the more it costs and the less individual freedom. This country was founded as,=C2-and still is a republic. Our con stitution will win the battle=C2-in the end. =C2-=C2-=C2-I agree let's go flying and enjoy the summer because=C2 -come November the socialism in Washington will be only a memory. Off to the airport! =C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2 -=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2- =C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2 -=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2- =C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2-=C2 -=C2-=C2-=C2-=C2-=C2-=C2-=C2- Tom in Ohio=C2- ----- Original Message ----- From: "Bob Collins" <bcollinsrv7a@comcast.net> Sent: Thursday, March 18, 2010 6:29:03 PM GMT -05:00 US/Canada Eastern Subject: RE: RV-List: Taxes OK, I can't resist. I see a lot of folks on here talking taxes who I KNOW w orked for companies that got government contracts... otherrs who I know are living off a pension after working for government for 20 years (I don't so I'm still working), or got an education on the GI bill -- before which,=C2 - by the way, it was unusual to own a home. The airports we fly in and out of ? Taxes. Look, I'm not that interested in getting into a stupid talk radio discussio n on taxes. I'm sure ther'es plenty of waste in government spending just as there is in family spending. But our food supply is healthy, we can get an ywhere we want in the world on a great infrastructure, our kids aren't crap ping in the streets because there's no running water or sewer, the quality of life via parks and trails is outstanding, I got educated thanks to peopl e who paid their taxes who realized that me being educated and productive w as a valuable investment. We've got it good. Stop whining like a bunch of spoiled=C2-babies and com e over and help me on the cowling. ======


    Message 3


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    Time: 07:26:34 AM PST US
    From: "Ralph & Maria Finch" <ralphmariafinch@gmail.com>
    Subject: Taxes
    Me neither. So just as this thread is winding down, I'll post my thoughts to wind it up again. To keep it barely aircraft related I'll start with places to live to fly airplanes. I've traveled some and surely California, and Northern California where I am, is one of the best overall places for a pilot to live: great weather for 8 to 9 months of the year, little freezing weather unless you live far up the mountains, very few thunderstorms. The coast gets its stratus fog dependably, but I took my primary training decades ago in San Jose and don't recall it being a problem. The scenery is fantastic and with an RV you can reach the ocean, mountains, cities and desert within just 2 to 4 hours flight. To be sure the cost of living is high here, though not really from taxes. Housing in particular is higher than most places in the Union. Taxes are a bit complicated. Once you buy a property, your property taxes can only increase max at 2%/year, so if you don't move you gradually enjoy lower and lower property tax, relative to inflation. Businesses take advantage of this with very low property taxes using a legal scam: they create a small corporation and register the corp as the property owner. Should they want to sell to another business they merely change the directors of the corp. Since the property continues to be owned by the same corp the property value is not reassessed. Other taxes are higher, California has both sales and income tax. However I've seen statistics that place overall CA taxes in the middle of the states, presumably because of the long-term low property taxes. But are state taxes the biggest expense one has? I doubt it. For instance, the March 2010 Aviation Consumer magazine editorial reports that data/chart update costs for a GNS 480 and GMX 200 is $1300/year..for data that the government provides to the private companies like Garmin for free. OK, most RV'ers won't have that equipment, but the point is that by far most of my and others' expenses involve commercial products, not state taxes. So, most people griping about state taxes and saying they're going to move are actually unhappy about their social or political surroundings. By all means, don't stay in a place you're not happy living in. Me, I'm happy in N. California. I just got back from London and Barcelona. Great places both but every time I travel I am so grateful to return to California. I live in a university town with a local airport 10 minutes drive away. My airplanes buddies are a molecular research biologist, a civil engineer, a successful businessman, etc. All have extensively traveled and most speak a second language, as I do. I'd never find this overall aviation experience elsewhere, and I've never seriously consider living anywhere else. Ralph Finch Davis, California RV-9A QB-SA From: owner-rv-list-server@matronics.com [mailto:owner-rv-list-server@matronics.com] On Behalf Of Bob Collins Sent: Thursday, March 18, 2010 3:29 PM Subject: RE: RV-List: Taxes OK, I can't resist


    Message 4


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    Time: 10:25:18 AM PST US
    From: Sherman Butler <lsbrv7a@yahoo.com>
    Subject: Taxes
    To all, Some one looking for a good place to fly should consider the space between the Rocky Mtns. and the Miss. River. =C2-The=C2-=C2-Government=C2-b uilt thousands of airfields in nearly every community during the collective effort to win WWII. =C2-No they didn't go out and shop. There are only a few towers as obstructions, and the weather is mostly good. =C2-You will need to know crosswind landings. =C2-The people are mostly friendly, and we love our country deeply.=C2- =C2-In some places there is high speed internet (the existing tax incenti ve for internet improvements was, and is, spent by the communication compan ies for bonuses).=C2-Taxes are generally split up between sales, property , and income taxes to provide balance. =C2-Although there is sales taxes on food there are not sales taxes on stocks and bonds. For the most part roads are passable. =C2-Although originally each indivi dual homesteader maintained 6 miles of road themselves, rugged individualis t who couldn't be bothered by their share, messed that up. =C2-Now we pay taxes and the counties and state do that work. =C2-I haven't seen houses with their own 12 V windmills and battery sheds for house power in a long time. (It was my wife's job to check battery water every day in the power s hed when she was a girl). FDR's Rural Electrification Program brought 110/2 20 VAC power to the farms. =C2-His opposition said it was socialist and o nly to power radios to hear FDR's speeches. =C2-I was glad I didn't need to milk by hand, my mother had a electric stove, we had TV, power tools, el ectric welders and had light to read. =C2- You really ought to give this area a look. Sherman Butler =0ARV-7a Wings =0AN497GS reserved =0ACarlsbad, NM Do not archive. --- On Fri, 3/19/10, Ralph & Maria Finch <ralphmariafinch@gmail.com> wrote: From: Ralph & Maria Finch <ralphmariafinch@gmail.com> Subject: RE: RV-List: Taxes =0A=0A=0A =0A=0A=0A =0A=0A=0A=0A=0A=0A=0A =0A=0A=0A=0AMe neither.=C2- So just as this thread is winding down, I=99ll=0Apost my thoughts to win d it up again. =0A=0A=C2-=C2-=0A=0A=0A




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