Friends say I'm an idiot

[RT Firefly]

Greetings,
Mr. fb. Grandkids? HAH!

 

[firstbase]

Says it all...

And a matching song and video as well...have no idea how to make the video show in a post like you guys do. Maybe I will learn one day when my burgee career is over...

 

[OldDan1943]

My only concern is how much will my heirs lose when they sell my boat. CHUCKLE
If my boat needs major work, I will just have to pay for it, as I pay my medical bills.

 

[ancora]

Mentioned this thread to the Sicilian, (she pays the bills) and she came up our all-inclusive, boat expense at $12,000 a year...and that's with me doin' all the plumbin', electrical and engine work.

 

[Lollygag1]

10 day trip to Italy cost almost the same as it cost to run the boat (including the slip) for the season.

 

[jimisbell]

My favorite boat song is If I Had a Boat - Lyle Lovett

 

[firstbase]

My favorite boat song is If I Had a Boat - Lyle Lovett

Good song although a little bizarre. Lyle Lovett riding his pony... on his boat. Story goes that Lyle tried to ride a pony across a pond once and ended up thinking it would have been easier if he had a boat. So he wrote this song. He makes a living doing this stuff. Unbelievable.

 

[firstbase]

Greetings,
Mr. fb. Grandkids? HAH!

Annual boat expenses? We have 4 married children and 8 grandkids. Our annual gift expenses rival the boat. Need someone to tell me why WE have to buy THEM a gift on "Grandparents Day"? Hello????

 

[jimisbell]

Annual boat expenses? We have 4 married children and 8 grandkids. Our annual gift expenses rival the boat. Need someone to tell me why WE have to buy THEM a gift on "Grandparents Day"? Hello????

To answer your question.......You are married to a woman. My wife is mad every year on Mothers Day because I dont give her a present. For 60 years I have always told her, "Because you are not my Mother." Logic doesnt work even over 60 years.

 

[jimisbell]

Good song although a little bizarre. Lyle Lovett riding his pony... on his boat. Story goes that Lyle tried to ride a pony across a pond once and ended up thinking it would have been easier if he had a boat. So he wrote this song. He makes a living doing this stuff. Unbelievable.

If you do something well, you can make a living a it. Lyle is the best in 50 years. He is bringing back the Big Band sound all by himself. His instinct for jazz and country swing is unequaled today. "Thats right, you are not from Texas" is one of his best.

 

[OldDan1943]

To answer your question.......You are married to a woman. My wife is mad every year on Mothers Day because I dont give her a present. For 60 years I have always told her, "Because you are not my Mother." Logic doesnt work even over 60 years.

So many misunderstood or misapplied, useless holidays.
Need or want even more unnecessary, useless holidays? Move to Italy or Mexico.

 

[Fletcher500]

10 day trip to Italy cost almost the same as it cost to run the boat (including the slip) for the season.

Just booked one night at a hotel property on Disney, and park hopper passes for 4 people for 2 days for the Holidays. About $2K all in unless we bring our own sandwiches and get our drinks from the water fountains. It will be a good time with the family, so no regrets but it is these type of expenses that put boating costs in perspective. All of us have unobstructed ocean views - priceless.

 

[firstbase]

To answer your question.......You are married to a woman. My wife is mad every year on Mothers Day because I dont give her a present. For 60 years I have always told her, "Because you are not my Mother." Logic doesnt work even over 60 years.

Thank you, thank you, thank you. We have had the same disagreement for many years. I did cave in a few years ago and started getting her a card. Just easier!

 

[OldDan1943]

Just booked one night at a hotel property on Disney, and park hopper passes for 4 people for 2 days for the Holidays. About $2K all in unless we bring our own sandwiches and get our drinks from the water fountains. It will be a good time with the family, so no regrets but it is these type of expenses that put boating costs in perspective. All of us have unobstructed ocean views - priceless.

How much for the electric wheel chair? My ability to walk great distances is no longer.

 

[firstbase]

So many misunderstood or misapplied, useless holidays.
Need or want even more unnecessary, useless holidays? Move to Italy or Mexico.

My thinking (to date completely ignored by society) is that holidays should be like the Olympics. Have Christmas, Thanksgiving, whatever, every 4 years. Then maybe that would help them mean something again.

 

[firstbase]

How much for the electric wheel chair? My ability to walk great distances is no longer.

Wheel chair is $100 deposit and $12 a day. Electric scooters are $50 a day. About the same cost of a hotdog, french fries and a drink for two people. Going on the boat for a long weekend is looking better and better.

 

[stubones99]

Wheelchair costs

How much for the electric wheel chair?

Dan, about $2k will get you the best and most portable wheelchair out there...
The Air Hawk Portable Lightweight Power Wheelchair.

It weighs in at under 50 lbs, fold compactly and can run up to 26 miles on both batteries.

Don't order the car charger, since all you'll get is a small inverter, not a DC-DC converter.

 

[jimisbell]

Mentioned this thread to the Sicilian, (she pays the bills) and she came up our all-inclusive, boat expense at $12,000 a year...and that's with me doin' all the plumbin', electrical and engine work.

OMG, if I laid out $1000 a month I would be assassinated (By my wife) and buried by sundown (at sea).

 

[firstbase]

OMG, if I laid out $1000 a month I would be assassinated (By my wife) and buried by sundown (at sea).

Then you must have really low slip fee and insurance? I'm at $750 a month for slip and $275 for insurance. $1,025 and I don't even have 10 lbs. of ice yet.

 

[jimisbell]

Yes, slip fee is $0 and insurance is $100 a month.

 

[OldDan1943]

Whenever I pay too much, I cant remember.
I own 2 slips in the same marina. I wonder why?

 

[frndrfoe]

I guess the 10% rule is not working out when you are paying 20% of your boat price on slip fees.
$36k boat and $7.5k/yr on slip


..or are slip fees additional to the 10%?

 

[OldDan1943]

I guess the 10% rule is not working out when you are paying 20% of your boat price on slip fees.
$36k boat and $7.5k/yr on slip


..or are slip fees additional to the 10%?

Easily corrected, buy a more expensive boat.

For our resident CPA, if we have one, 2018 do we lose the second home mortgage deduction?

 

[FlyWright]

I have a $40-45K boat and pay $350/mo or $4200/yr for my covered slip in protected, brackish water. That's 10% for just the slip, but you can't beat $0 for a slip!

All in, I'm about $8-9K per year. That's a whole lotta fun for the cost. IMO, it's still worth it at twice the price!

 

[Giggitoni]

I guess the 10% rule is not working out when you are paying 20% of your boat price on slip fees.
$36k boat and $7.5k/yr on slip


..or are slip fees additional to the 10%?

The 10% rule only applies to maintenance, repairs, upgrades, etc. Slip fees, insurance, documentation and other fixed costs don’t count. My slip in Vallejo, California is only a fraction of a slip in Newport Beach, California. However, parts are parts...

 

[BandB]

Easily corrected, buy a more expensive boat.

For our resident CPA, if we have one, 2018 do we lose the second home mortgage deduction?

You can deduct the interest on up to $750,000 of mortgage total on the first and second home in 2018.

 

[OldDan1943]

You can deduct the interest on up to $750,000 of mortgage total on the first and second home in 2018.

Goodie, I am home free again. Thank you. BIG SMILE

 

[BandB]

Goodie, I am home free again. Thank you. BIG SMILE

Note: When I say up to $750,000 of mortgage total on the first and second home in 2018, I do mean combined.

 

[BruceK]

You can deduct the interest on up to $750,000 of mortgage total on the first and second home in 2018.

Why is interest on a(presumably) non income producing principal place of residence tax deductible? We had it once, never quite understood why, but was happy to take the deduction.Maybe it encouraged property ownership/investment.

Here there is a move to extinguish deductions on negatively geared investment property (ie where expenses exceed income, interest often being the main component). People offset the loss against other income,like salary, thus reducing tax. Existing property will be grandfathered. As I see it,if someone makes a loss on an investment, and it`s real,they ought get a deduction.

 

[jimisbell]

16 years ago when I needed a slip I bought three canal front lots with a 75 foot bulkhead. I paid $24,000 for ALL THREE lots. at an interest rate of 2% I was paying $480 a year for two slips in lost interest. I rented one out for $180 a month so my cost for the other one is less than zero and the extra money pays for the electricity, mowing, and Taxes. And in the 16 years the value of the lots has increased tenfold. I had one person say they would buy the lots from me and give me a 99 year lease on the bulkhead for $1. I may go that way. But I am afraid I will not live 99 years and will loose some of that $1 if I die.