Interesting stuff

Lady Snipe Dragon wrote:

good morning

So old man winter is leaving his mark again.

so typical of our government. who making only $27,000 year can afford to put $2000 towards retirement?

Save $1,000 on Your Tax Bill


You might think that the biggest gift from the government when it comes to taxes is the mortgage interest deduction, but there is something better. The Retirement Savings Contribution Credit -- or Savers Credit -- is often overlooked, but it reduces the tax bill by up to $1,000 for millions of American taxpayers.

It's quite simple. To get the full credit, invest at least $2,000 across your retirement accounts including your 401(k), Traditional IRA, and Roth IRA. Even if you don't or can't contribute that much to your retirement fund, you can still qualify for a credit of less than $1,000. You have until April 18 or your extended deadline to contribute to your Traditional or Roth IRA, so there is still time left right now to qualify for this tax credit.

There is a catch preventing taxpayers from qualifying. This is a credit for lower-income households, so there is a limit to the amount of income you can earn. The government designed this credit as an incentive for taxpayers to contribute to their own retirement. Taxpayers filing single, married filing separately, or qualifying widow(er)s cannot have an income exceeding $27,750 for 2010. For married filing jointly, the income maximum is $55,500.

I'll be honest. When I was working for a non-profit agency right out of college, earning not much more than that $27,750 limit, being able to save for retirement was a concept that didn't even cross my mind. This is an income level at which, for those living in some locations, it's common for people to live paycheck to paycheck, barely meeting their expenses. These families could be using every penny of their income for the necessities of life that allow them to wake up the next morning and work for another day. Financial writers often look at this credit and think families are crazy for not taking advantage of the incentive, and they don't realize that saving for retirement can be difficult for those families that this tax credit is designed to help.

Even though it can be difficult to qualify, there are two reasons I love this tax credit.

1. The credit is free money. Look at it this way: You are investing $2,000 for your future, $38.50 a week, and it's only costing $19.25 a week. You can't buy a $2,000 television for $1,000. There is no "New Cell Phone Buyers Credit." If there is any way to make retirement saving on your income possible, consider taking advantage of at least a portion of this credit.

2. The Savers Credit is not a deduction. A $1,000 deduction would only reduce your tax bill by $250 if you were in the 25 percent marginal tax bracket. A credit reduces your bill by the full amount of the credit. The Savers Credit is much more valuable than a tax deduction of the same amount.

There are some drawbacks to the Savers Credit. Unfortunately, the credit is nonrefundable. If you owe less to the government than the amount of your credit, you will not get a refund. This credit can reduce your tax bill to zero, but won't go further to the point where the IRS owes you money. Furthermore, the total credit you can qualify for begins to decrease at a fairly low income level, reducing fully to zero for income levels that meet the maximums listed above.


Even with these drawbacks, millions of taxpayers can qualify for a credit they might not know about. It's common to complete income tax forms online now, and tax software applications usually complete the calculations behind the scenes. Many taxpayers who receive the Savers Credit may not know that it is in effect, particularly because it's not publicized well. With this knowledge, however, now would be a great time to begin contributing to your retirement accounts for this year, so when April 2012 comes around you'll qualify without having to think about it.

Edelweiss wrote:

Lady Snipe Dragon wrote:

KK wrote:

dragon bike

That is one awesom bike and one awesome dood..

I have to agree with Lady Snipe Dragon !!!

How are your german studies coming along KK ?

Guten tag

Wo ist die bank? Wo sind die koffer? Well I'll have no problem finding the bank or my luggage. I think pretty well. I'm getting to the point where i know a lot of what is being said. I still struggle with the tenses and genders and forget some of the spelling i could also order a lot of stuff to eat or drink that I would never consider eating or drinking. But honestly, I am happy with my progress so far.

Danke! nein, vielen dank because I like you

Edelweiss wrote:

Lady Snipe Dragon wrote:

KK wrote:

dragon bike

That is one awesom bike and one awesome dood..

I have to agree with Lady Snipe Dragon !!!

How are your german studies coming along KK ?

But I did have to send your daughter a gentle reminder not to mess with my high scores

[/quote] But I did have to send your daughter a gentle reminder not to mess with my high scores [/quote]


What scores ???

KK wrote:

Guten tag

Wo ist die bank? Wo sind die koffer? Well I'll have no problem finding the bank or my luggage. I think pretty well. I'm getting to the point where i know a lot of what is being said. I still struggle with the tenses and genders and forget some of the spelling i could also order a lot of stuff to eat or drink that I would never consider eating or drinking. But honestly, I am happy with my progress so far.

Danke! nein, vielen dank because I like you

Looks like you know all the important stuff....good on you

Edelweiss wrote:

But I did have to send your daughter a gentle reminder not to mess with my high scores [/quote]


What scores ???[/quote] games over at the lair. she beat 2 of my high scores so i had to take time out of my busy schedule at work to reclaim my title was that obsessive behavior on my part?

Looks like you know all the important stuff....good on you [/quote] like i said, if i listen to a conversation, i can pick up a lot. when i hear a word i will know what it is. But to turn around and and create a sentence I still struggle. Like if I hear the word krankenhaus, I know that's hospital. But if I wanted to ask where is the hospital I've got the Wo ist down but I'd have to think what is the word for hospital

and i also still have to thik about is it die, der das. das krankenhaus right? so those are the things i am practicing. and of course the pronunciation. Giada laughs her ass off at me

KK wrote:

and i also still have to thik about is it die, der das. das krankenhaus right? so those are the things i am practicing. and of course the pronunciation. Giada laughs her ass off at me

Yes, since a Krankenhaus is not feminine or masculine...das is correct.
The best way to learn the rest is to take Giada on a nice long trip to Germany and it will all fall into place

Edelweiss wrote:

KK wrote:

and i also still have to thik about is it die, der das. das krankenhaus right? so those are the things i am practicing. and of course the pronunciation. Giada laughs her ass off at me

Yes, since a Krankenhaus is not feminine or masculine...das is correct.
The best way to learn the rest is to take Giada on a nice long trip to Germany and it will all fall into place

now that you mention it, we leave the last weeko of july. first stop venice, then drive through slovinia to budapest. Cruise up the danube with stops in vienna, melk,passau, regensburg, kelheim and nuremburg. a few days there, a few days in munich and a few days in innsbruk

KK wrote:

gin rumy wrote:

KK wrote:

This doesn't look good

Tomorrow night: Periods of snow. Low 24F. Winds N at 10 to 20 mph. Chance of snow 80%. Significant snow accumulation possible.

wtf is significant snow accumulations? and why is that big cloud mass moving towards us on the radar?

The snow Gods have spoken.

looks like tomorrow they will be dumping on us again

How bad is it?

KK wrote:

gin rumy wrote:

How do you delete a post here?

i was going to say hit the delete post buton but i don't see one. i have no idea. it's foriegn territory to me anyway

I can't figure it out.

Mountain Biking. That's an interest of mine.

Class is starting so I'm logging out.

KK wrote:

Edelweiss wrote:

But I did have to send your daughter a gentle reminder not to mess with my high scores

What scores ???[/quote] games over at the lair. she beat 2 of my high scores so i had to take time out of my busy schedule at work to reclaim my title was that obsessive behavior on my part? [/quote]YOU? Obsessive? No way..

gin rumy wrote:

KK wrote:

gin rumy wrote:

KK wrote:

This doesn't look good

Tomorrow night: Periods of snow. Low 24F. Winds N at 10 to 20 mph. Chance of snow 80%. Significant snow accumulation possible.

wtf is significant snow accumulations? and why is that big cloud mass moving towards us on the radar?

The snow Gods have spoken.

looks like tomorrow they will be dumping on us again

How bad is it?

18" I'll post some pics later

gin rumy wrote:

Mountain Biking. That's an interest of mine.

get one with a motor

Lady Snipe Dragon wrote:

KK wrote:

Edelweiss wrote:

But I did have to send your daughter a gentle reminder not to mess with my high scores

What scores ???

games over at the lair. she beat 2 of my high scores so i had to take time out of my busy schedule at work to reclaim my title was that obsessive behavior on my part? [/quote]YOU? Obsessive? No way..[/quote] i like to think of it as dedicated

KK wrote:

Lady Snipe Dragon wrote:

KK wrote:

Edelweiss wrote:

But I did have to send your daughter a gentle reminder not to mess with my high scores

What scores ???

games over at the lair. she beat 2 of my high scores so i had to take time out of my busy schedule at work to reclaim my title was that obsessive behavior on my part?

YOU? Obsessive? No way..[/quote] i like to think of it as dedicated[/quote]

at least I'm noticable

our driveway last night at 10:00