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[Guest caffeinejunkie]

Lol im the matrix............

[Angry_Games]

well, we got a shock when we went down to sign for the lease on the new house. I'll make a big post about it (if anyone cares) but to summarize on-topic for this thread, once we get moved, I'm pretty sure I'll be a lot more involved around here. It's my only source of income and the last few months have been negative income while we traveled around the state taking her to job interviews then driving 120 miles south 2-3 times a week signing contracts at school and hunting for houses...and the big stress of knowing we have to move is coming, which is almost crippling because of the money you bleed out to move gah...i ******* hate moving more than anything else in the world (except racism).

 

I'd rather eat diseased meat than move. I'd rather hang out with Thasp for a day than move hahahahha.

 

(he got an avatar because he makes good posts when he's helping people...)

 

I'm so stressed that I'm going to go play some guitar hero on the 360 instead of shop for new avatars for you guys =(

[suedenim]

Yep moving is a major stress - done it 4 times already (ignoring moves whilst at uni'). Thankfully the UK is much smaller so drive times come down to a couple of hours.

 

I believe it came in at number 3 or 4 on the stress scale. Death of partner/parent and marriage came tops.

 

So you married Angry (and this isn't a proposal)?

[Angry_Games]

Yep moving is a major stress - done it 4 times already (ignoring moves whilst at uni'). Thankfully the UK is much smaller so drive times come down to a couple of hours.

 

I believe it came in at number 3 or 4 on the stress scale. Death of partner/parent and marriage came tops.

 

So you married Angry (and this isn't a proposal)?

 

momma and I aren't officially married, and Idaho doesn't have a 'common law marriage' (meaning after so many years together you are considered legally married without having a marriage license etc...it's different in all states)

 

we'll be getting married for sure at some point, but since we have no children and have concrete plans to NOT have children, marriage isn't that big of a deal.

 

and since the republicans have destroyed health benefits for workers in this country for the last 20 years, even her job as a teacher for the state of Idaho only gives me 20% coverage on the health plan, at about $500 a month.

 

I remember when teachers AND their spouses AND their children were covered 100% and it didn't cost a goddamn fortune out of each paycheck.

 

It's actually cheaper and I'll get better coverage if I spend around $400 a month for my own health insurance...what a joke...so the old bit about "its good to get married to share benefits from your job" is totally moot these days. It's actually almost cheaper and more efficient to NOT be married (the one last bastion is the joint tax return you can file as a married couple...that's the only good thing left about being married, but it isn't good enough to run out and get married)

[dr_bowtie]

even the tax thing isnt so anymore...

 

we have sorta a marriage penalty tax...we would have gotten more back had we not been married...about 4,500 more...

 

that will just about cover the down payment for the Divorce lawyer...

[Guest LookBackX2]

Dr_Bowtie is right. For the average taxpayer, a marriage penalty is realized instead of a benefit.

 

There are exceptions of course. Such as if Angry were to sell his principal residence and realize a $450,000 capital gain. As a single buck, he would pay capital gain taxes on 200,000 of that. Which off the top of my head I think is in the ballpark of 15-20% possibly 30%. OUCH! Now, as a happily married-to-Mama man, selling the same property he could have sold it for $50,000 more and still not paid a dime of capital gain taxes.

 

The same principals apply to most floors or ceilings in the tax law. Problem is, most of us don't even bring enough home to get into AMT computations which are designed to offset many benefits the wealthy have, much less recognize any tangible benefit the ball and chain provides. Tax-wise anyway.

[Kingfisher]

You can sell your home and not pay capitol gains tax for a one time deal only, don't get me started on politics, it doesn't have any place here folks.

[Fogel]

I'm pretty sure you only have to pay the Capital Gains Tax if you sell your within the first 2 years you buy the home. It is my understanding the tax was to discourage investors.

 

But anyway, I'm with you man. I got no plans for kids. My uncles side of the family breed like rabits so the name will carry on. No plans for marriage either, just havin' too much fun being single.

[suedenim]

Things are a little better over here. No CGT on your principal property/home, family tax credits, child benefit, the NHS, common law/civil partnership stuff.

 

I was down on kids until I got one - lots of fun and its nice being able to condition them with all your foibles. Actually the missus is pregnant so child #2 coming Spring 2008 which I'm pretty chuffed about as the year has been pretty cr*p so far. Hoping for a girl as they're less trouble than boys apparently.

[ReelFiles]

DON'T DO IT, hehe. My son is much easier and cheaper than my little sister was (still is).

[Guest LookBackX2]

Any house that is a principal residence for an immediate family member at least 2 out of the last 5 consecutive years you own it qualifies for $250k (single) or $500k (married) in capital gain exemption. That's tax law, not politics!

 

OK example: Buy a house by a University and rent it for a year. Then move your son there his first year of college. After that year, he transfers to another school. Rent it for two to three years. On the fifth year you own it, move your younger daughter in for her first year of school. At the end of that year if she transfers, sell the house and take the capital gain exemption. Now if you keep it another year after she transfers, then sell it, your SOL and will have to pay taxes on any gain.

[Angry_Games]

the great thing about this house is that somehow we qualify immediately for the $225k price, but even better, there's a brand new middle-school being built right behind the subdivision, and a big commercial lot that is still a farm field on the western side of the subdivision.

 

meaning that unless some serious recession or something else hits, that $225k house will rise in value (though real estate is a fickle thing). We aren't looking to make any money. We love the house. The city it is in is growing rapidly also, so it shouldn't go down in value at all. But mostly we want it for what it is...a huge %^#@$@# house that was someone else's dream home they never got to live in.