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Post by chonies on Aug 12, 2012 14:48:54 GMT -4
I agree with Witchie, but I'll also ask the following: was it a solicited offer? If yes, go ahead. If no, have you diligently researched the underwriting bank?
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Post by Sunnyhorse on Aug 12, 2012 15:29:38 GMT -4
Try not to carry a balance at all, Babycakes -- buy what you can pay off in a month, then buy the rest the next month.
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Post by Babycakes on Aug 12, 2012 15:39:12 GMT -4
I agree with Witchie, but I'll also ask the following: was it a solicited offer? If yes, go ahead. If no, have you diligently researched the underwriting bank? It was a solicited offer. Since I closed my previous account with a smaller bank, lots of bigger banks have been after me. This specific card is from Chase, which I have major misgivings about. I'm not too fond of them or Citibank.  I have not intention of ever carrying a balance Sunnyhorse. Paying interest is not for me. Never. Again. It makes me weepy thinking about all the money I wasted in interest and late fees. If I do use the card, I'd charge less than $100 a month and immediately pay it off. My Initial credit limit is $4100. I'm not looking to approach anything close to that.  |
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Post by Sunnyhorse on Aug 12, 2012 15:48:43 GMT -4
Sounds like you've got a good handle on the situation, BC. Good luck!
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Post by chonies on Apr 9, 2013 16:56:55 GMT -4
Out of curiosity, how much does a person have to contribute to charity before there are benefits, tax-wise?
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Post by mrspickles on Apr 9, 2013 17:59:19 GMT -4
It completely depends on whether you are itemizing or are close to being better off itemizing, and from there it depends on what your marginal tax bracket is. A very general way to look at it is that your tax benefit will be equal to the amount donated times your marginal tax rate (although it will actually be less because of the graduation in rates.) I've seen cases where the donations were enough to drop a taxpayer into a lower bracket, which made the donations slightly more "valuable."
Don't know if that makes sense or not, but I'm ass deep in someone else's charitable contributions right now, so please forgive me.
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Post by chonies on Apr 9, 2013 18:16:40 GMT -4
mrspickles, I think this is something I should have looked into in January.  Big picture: contributions were mostly cash, it wasn't that much overall, not even really close to 10% of our gross *or* net. I was just confused because work expenses were a similar amount and generated a change to our owed taxes. I will check our marginal bracket. Thanks! Also, I had to read your post aloud several times because my first two read-throughs resulted in "duuh?" type sounds.
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Post by chonies on Apr 16, 2015 8:54:38 GMT -4
I love tax-supported institutions (museums, libraries, schools, parks) and think there should be more (health care, better-paid teachers and first responders, infrastructure) but good grief, the act of actually paying taxes is agonizing. I am going to adjust my withholding right now.
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Post by canuckcutie on Apr 19, 2015 15:36:01 GMT -4
What's the saying, the only 2 things that are certain in life are death and taxes?
I'm one of those who runs to get my taxes done as soon as I can. Even though I'm lucky and have a pension plan through my employer I contribute to RRSP's (kinda like the 401K in the U.S. I think?) which does get me a tax refund. I started contributing years ago back when I was on contract and had no pension and wanted to start socking money away for retirement.
One year when I was on contract I was responsible for paying my own taxes at year end and it sucked horribly.
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Post by chonies on Apr 19, 2015 15:43:29 GMT -4
Once I have my forms available, I generally put in all my information, but my spouse needs several stern naggings before he gets with the program.
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