Bob, I think I'll add you to my list of heros. And that's not sarcasm.

 

 

Hey Bob...for the normal resident of Oregon, does higher gas prices and generally income taxes wash out the 0 sales tax? Im ready to move again and also in the midst of doing taxes...info like this would be greeat to know.

 

AmEx fine print...
http://www66.americanexpress.com/car...15110015/0/n#1
So many rules based on what you buy and where you buy...seems like you lose the convenience factor...

MBNA fine print...
https://www.mbnaworldpoints.com/WCap...qanda.jsp#qa16
$1 = 1point / minimum redemption = 5000pts for $40
(although they do offer other kinds of rewards)

I dunno...just seems like it's not a 100% win-win scenario.

Jim

 

Well yea, there are few rules, but bottom line...you spend $6000, you will atleast get 1.5% back. But 3% on gas, groceries, ect. is quite nice. It adds up. It doesnt matter what you buy, you will get atleast 1.5% if you spend $6000 a year. Thats potatoes for most people. Check with your school, you may be able to put your tuition on it...now thats where you build up lots of cash back.

With most Visa and MC reward clubs you will notice that you have to spend around $25,000 to get a FULL 1% back. Still, you spend $5000...you can get $40 back. To some people thats not much, but it buy your oil for a year

Still...THEY PAY YOU -> YOU DONT PAY THEM. Plus, all the inssurance that comes with using a credit card instead of cash...it's by all means worth looking into. As you get older, you will realize that you cant do a lot of things without a credit card. Hotel rentals, car rentals, plane tickets, online purchases, etc...if you are going to get one, you mine as well get one that PAYS YOU BACK. Do some searching and you will find that the AMX Blue Cash card is infact the best card for rewards...but AMX isnt accepted everywhere, so you need that backup MasterCard or Visa.

 

Do they ever. Oregon is either 1st or 2nd for income, property and gas taxes. Combined, they more than offset the vehicle tax break. Oregon experienced a net population decline last year as taxpayers flee the system that's generated the highest unemployment rate in the U.S. Unfunded state pension liabilities make California's problems look like chump change. There's no solution in sight. The state legislature refuses to implement spending limits. I'm in the middle of liquidating real estate assets using IRS Sec. 1031 tax-free exchange mechanisms for more desirable locations. I don't mean to sound negative, just realistic. Other real estate investor friends are doing the same thing and mostly moving to Nevada, Colorado or Florida.

Edit: This is a ballot measure state where tax increases must be voter approved by a simple majority. Sounds good until you consider that more people are employed by government than the private sector. They enjoy the most lavish, inflation adjusted pension plan in the country, retire at 110% of salary after 20 years "service", and are guaranteed an 8% increase per year compounded regardless of stock market activity or interest rates. Also, government employees are given the day off with pay to vote. Most politicians owe their election to support from them, so they're beholden to the largest special interest group in the state, public employees. I won't bore you with examples...pick another state for your primary residence. Great place to visit during Summer, though!

 

I notice that you're from Canada. You may wish to take a look at some of the Oil & Gas Income Trust issues. I hold seven different issues, averaging about 1.4% per month in distributions. Some of that is taxed as income at your full tax rate, but most is return-of-capital and only taxed at 50% of your tax rate, and then only when you sell the issue.

 

Paid off here...

Wish I could say the same for insurance, but that's impossible.

 

Can you post a link to the secrets?

 

I am actually an American living in Canada, but it looks like I will be here for a while as we are just about to have our first little one and I just got my permanent residence (we will stay at least til I have dual citizenship so maybe 2 more years).

Good tip on the oil and gas trusts. I think many of the primary needs trusts (energy, commodities, etc) will do quite well in the short term. I also like the real estate trusts as well. I am still learning all the tax and investing nuances up here so any help you can give me would be most appreciated.

 

don't have a runner but my pickup is paid off in less than 48 hours. Feb 3/04 is my last payment. Now I got en extra $425 every month to put towards my sas and sbc swap.

 

I'm pretty late, but this thread is still at the top so...

I paid cash for my 89 Pickup does that count? 4 grand plus another 4 grand in mods and repairs in a matter of 6 months, damn this truck is addictive

And I also payed cash for my GST right after I got the truck a little while ago, sold it recently

 

I also paid cash for my 2001 4Runner. It is so nice not too worry about car payments, its incredible!

I have my house payments, but that's a different story. :pat:

-- Andrey

 

Yeah, but that is "good" debt - as long as you are making at least 6% in return per year on your house.

Dont get me wrong, no mortgage would be nice!

 

"The Secrets of the Fleet Buyer Next Door" below. I searched using the word fleet. You could run into a stickler for details (Toyota fleet rules say 5 or more vehicles make a fleet), if so go to another dealer. Bring along your business license, in case they ask (they likely won't). They are VERY flexible because they aren't paid on gross profit per new vehicle sold, but $XXX PNVS. You specify the deal, typically $150 above net invoice (invoice-advertising-incentives-holdback) but maybe a little more if you're new. Hope this helps.


Fleet

Fleet

Fleet