Jump to content

ToddF

Validated Members
  • Posts

    406
  • Joined

  • Last visited

Optional Fields

  • SKP#
    137970
  • Lifetime Member
    No

Contact Methods

  • Website URL
    www.toddstaxservice.com

Profile Information

  • Gender
    Male
  • Location
    Burnsville, MN
  • Interests
    Biking, Half Timer, Bichon Frise fan

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

ToddF's Achievements

Newbie

Newbie (1/14)

  1. And with a good pair of scissors, everyone can cut their own hair.
  2. As an aside, licensure is VOLUNTARY at the federal level ( to prepare paid tax returns). Some states (Oregon) have state licensing requirements. (Most do not). A paid tax preparer is required to obtain a "PTIN" (ID # from IRS) and SIGN the return. Never accept a paid preparer return that is not signed by the preparer and contains a valid PTIN.
  3. The "use tax" was on the "honor" system up until the "Wayfair" case which required online retailers like Amazon to collect sales tax at the time of purchase. (Much harder to evade now). Here's an example of what can happen...Minnesota Department of Revenue goes to an out of state seller of cigarettes and obtains a list of all of their Minnesota customers and how much they purchased. Then they look for a "use tax" return from the buyer, and finding none, send a bill to the taxpayer. (Not a pleasant experience). Absolutely one of the big selling points of being a fulltimer is the potential elimination of a property tax bill from the budget. My brother in Yorkville IL commented that he escrows about $700-$800 per month for property taxes on his modest suburban home. At that point for me, the "for sale" would go up and I'd move into my RV in a heartbeat.
  4. https://taxexperts.naea.org/ Look for someone who is licensed. (CPA or EA). You wouldn't go to a doctor or attorney who was not licensed. The big chains have many franchise locations. (I was one for 18 years). The key is a good owner/practitioner. Block is nice because they have offices in every state, a great website, and stringent continuing education requirements. But you need to pick an experienced, licensed preparer (not all will be).
  5. My guess is that his solar panels and other equipment ran into the 6 figures.
  6. Considerations would include everything mentioned in this thread. Of course, many RVers end up in a state close to family (I assume)...taxes and other related concerns are only 1 factor. Income Tax (varies widely from state to state). Sales and Use Tax (If I buy tires in Oregon, I have to pay MN USE tax if the total of out of state purchases > $770). Gas Tax Vehicle Registration Tax. Inspection Fees. (MN low on RV. Runs $125. annual for a Class C. Much lower for a trailer). Property Tax and any rebate scheme (MN has a very generous refund system). Inheritance (Estate)Tax. Probate and transfer on death issues. (MN has a "TOD" option for a simple transfer of homestead at death - no probate if done properly). Medicaid/Health Insurance options for those below certain thresholds.
  7. Sorry about the misstatement on Texas sales tax. Truthfully, I think I was remembering Alabama which I think taxes all groceries. But the point is, look at the full picture. Another surprise...Pennsylvania has an inheritance tax which applies very broadly upon death. Illinois will kill you with their property tax but let you off easy on income tax after you retire. Also, services, especially medicaid, vary widely from state to state.
  8. This is a good read on hydrogen power and how it could be developed to power trucks, RVs, and cars. It's fascinating to read about an ordinary guy using hydrogen to power his home and vehicles. https://nyti.ms/3nVEUmj I read many of the comments and got conflicting feedback. Some say it has environmental concerns with the ozone layer. I'm not educated enough to know whether or not this is true.
  9. It's a common misconception that moving to a "no state income tax" state will be a smart move by itself. In Texas, for example, you will pay sales tax on your groceries. (Not so in Minnesota). In Texas, your property taxes will be approximately double what the typical Minnesotan pays after factoring in a state refund program. Also, 40-50% of retirees don't have enough income to pay any federal or state tax, so their state of domicile makes no difference in their income tax bill. As far as preparing your own taxes, yes. You can change the oil in your motorhome and truck too after you cut your wife's hair.
  10. I like to play that game (Mega Bucks) when I'm in LV. 🤣
  11. Not all states have an income tax, so the issue only applies to those that do. Many with an income tax, have a "filing threshold" and if income is below that number, no need to file. If your domicile state has an income tax, it will usually give you a credit for taxes paid to another state. The issue pertains to "earned income", not retirement income. I'm visiting New Jersey and my pension check arrives in the mail at my rV park, no NJ tax. But if I'm in my RV working on the internet earning $, worth checking out. When in doubt, go to the state's department of revenue website and review their requirements. Enrolled Agents (licensed tax professionals) are your friends when you need help. https://taxexperts.naea.org/
  12. Scott, I love your Thousand Trails FB group. (Peeked via my partner's account). Wish I could be on FB but I can't deal with social networks. Lots of great pictures and reviews!
  13. Just got an email from Thousand Trails announcing the temporary opening up of 4 parks to ALL Thousand Trails Members, with 2 being age qualified (AQ=55+). Cactus Gardens Yuma, AZ AQ Foothill Village Yuma, AZ Sunshine RV Resort, South TX AQ Breezy Hill RV Resort SE FL 14 Day Stay Max Don't need to be on the "Trails Collection" to utilize this special offer good through 04/30/20. From now to 4/30/2021, you can access Cactus Gardens (an age-qualified resort in AZ), Foothill Village (AZ), Sunshine RV (an age-qualified resort in TX), and Breezy Hill (FL) under your Thousand Trails membership. Upgrading your current Thousand Trails membership is not required to access these four properties. You may stay at one of these properties in a recreational vehicle up to a maximum of 14 consecutive nights. The booking window and time out of the system will be the same as your current membership. Reservations are required and can be booked on the Thousand Trails website under “your properties” in your Member Profile. Reservations at these resorts depend upon the availability of RV sites, and requests can only be confirmed if space is available. Therefore, we cannot guarantee that you will receive a RV site at any resort. Only a limited number of RV campsites (approximately 25 at each resort) are available for this limited time promotion. You must comply with the Rules and regulations of the individual property. For age qualified [AQ] properties, one member of your party must be 55 years of age or older.
  14. The Lazy Daze owners use the following source for their forum: https://www.elkarte.net/ It's been awhile since I've been active on https://www.lazydazeowners.com/. It was a wonderful forum with great tech, no ads, no fees, and awesome group of people.
  15. I would enjoy more TT discussions here. I will not use FB. I joined TT in Oct 2016 on the zone pass option. In Oct 2019 upgraded via a "used" Elite membership found on Ebay. I had 3 years to try out the system to learn that I loved everything about it. I managed to do a 5 week trip after Labor Day that was primarily all TT parks on my membership. Unfortunately, due to COVID 19 hitting home, I had to come back to MN after the 5 weeks. (I had planned to go another 8 weeks in Florida). Without TT, I couldn't do these long trips without spending much more $. But it isn't just the $. I like the parks, ease of making and changing reservations, FHU at many (not all), amenities, etc.
×
×
  • Create New...