What are currently your best saving tips ?
On Mon, 7 Jun 2010 21:14:31 -0400, "Lou" wrote:
wrote in message
.. .
On Sun, 06 Jun 2010 18:10:47 -0500, The Daring Dufas
wrote:
On 6/6/2010 6:03 PM, Lou wrote:
"The Daring wrote in message
...
On 6/6/2010 10:58 AM, Lou wrote:
"The Real wrote in message
...
On 06/05/10 20:53, Ed Pawlowski wrote:
"marco wrote in message
...
.
in the long run,
you are much much better off increasing your income
i know it's less fun, but just think about it:
increase your income, say $1 an hour,
or $10 a week, or $25 a month, or whatever,
and see what you have at the end of the year,
vs saving $1 here or $5 there, is clearly better
marc
Sounds great, but not always easily done. With the present
economy,
employers have cut OT, cut wages, cut hours, and much of the side
job
part
time stuff has dried up. Increasing income may be better, but
saving
money
is the only way for millions right now.
AND the money you save isn't taxable!
Well, that depends. When I lived in Georgia, money sitting in a bank
account was taxable. If you had an account, you owed tax on the
balance
and
had to pay. After a year went by and tax time rolled around again,
you
had
to pay tax on whatever was in that account again, even if you hadn't
touched
the account at all. In essence, you paid tax on the same money again
and
again, for as long as you had it.
Georgia? The state in the U.S.A. or the country of Georgia?
Georgia, the state in the U.S.A. All real and personal property in the
state is taxable unless specifically exempted by law. At the time I
lived
there, money in a bank account was not exempt.
Here in Alabamastan, I believe a bank account would be taxed if it
earned interest.
Only the interest is taxed, not the principal. That's a normal capital
gains
tax. Taxing the principal is *not* normal. Personal property is taxed in
some states but I've never heard of cash being considered personal
property.
What would you call it? Property is generally classified into two types -
real and personal. Real property is land, usually things growing on it
(annual crops in at least some states are not considered real property) and
buildings. All property that is not real property is personal property.
Investments aren't generally considered either.
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