Pretty sure HELOC interest is still deductible BUT it has to be tied to actual expenditures on the home. You can't deduct the interest if you use it for a vacation or to pay off other debt.
We were screwed by the new tax law as it caps property tax + state income tax at $10K .. That lost me around $6-8K in deductions. We owe about $2K more than we would in an average year. Which also triggers an underpayment penalty. :@
They did broaden the underpayment penalty to not apply if you withheld 85% instead of 90% for 2018 taxes only. The penalty also does not apply if you withheld your previous year tax liability amount. The whole tax thing just seemed rushed and not thought out to me
I withheld more than last year, and was just about break even in 2017, so no penalty should apply based on that. The wife and I will both be reviewing our withholding elections tonight, and adjusting accordingly. I'll probably end up overcompensating and get a big refund, but at least I won't have to see the software tell me "you ain't going on a late winter vacation to someplace warm this year, buddy".
especially if you had high itemized deductions in the past.
though as much as I complain about getting whapped with a tax bill, it is still way less than the 2 tuition bills I did not have to pay in 2018! So still ahead of the game.
For most people, the total tax bill will have come down. But, that doesn't mean you will get a big refund. Those that no longer itemize (most of us) will likely have a smaller refund. If you count on that as forced savings, then you were doing it wrong.
The deficit is already ballooning from it like in the past. Since the 80's these things tend to blow up down the road. Personally, I think the tax changes were drawn up to penalize people who live in blue states, while rewarding those in red states. That kind of political stuff usually doesn't work out or last long.
Even worse than that, those inflation figures don't seem to include massive cost of living inputs like healthcare and education, and in many areas, housing, all of which are tremendously more expensive now than then. 40 years ago, normal working people could afford houses here within reasonable commutes at reasonable prices. Not so much anymore, where in my area anyway, houses that could have been bought for 50K then can be 1MM or more now. But hey, TVs are cheaper, so it must be OK.
I was thinking of something, the most traditional American car is still the MB E-class. Available as a sedan, (hardtop!) coupe, convertible, wagon. RWD basis. 4 different powertrains from a 4 to a normal V6 to a hot I6 to a snarling V8. Enormous custom order possibilities if one has a car built. Only caveat is that they aren't the most affordable.
Well maybe the new A Class will become the "American sedan" that more people can afford. Obviously Ford and GM are ditching sedans, leaving only FCA to soldier on with the 300 and the Charger.
I meant "American" in terms of layout and choices compared to old traditional American cars. The A will indeed be more affordable, but is still a FWD based small 4 cyl, not the most American configuration.
Korean brands top J.D. Power's Initial Quality auto rankings
Ford topped all U.S. brands at No. 4, with Lincoln at 5th, Chevrolet at 6th, Dodge at 8th, Buick at 11th, GMC at 12th, Cadillac at 17th, Jeep at 18th, Ram at 21st and Chrysler at 25th.
Alas, my beloved Jaguar has fallen down a well... But, my two cars/8 years of Jag ownership has been reliable and fun!
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Of the top 15, nine are manufactured by Japanese firms Honda or Toyota. Ford’s F-150 pickup is the only vehicle from the Dearborn-based company to make it on the list:
1. Jeep Cherokee 2. Honda Odyssey 3. Honda Ridgeline 4. Honda Passport 5. Chevrolet Corvette 6. Acura MDX 7. Honda Pilot 8. Chevrolet Colorado 9. GMC Canyon 10. Acura RDX 11. Chevrolet Camaro 12. Toyota Avalon 13. Ford F-150 14. Honda Accord 15. Toyota Tundra
Yes, these companies (and most other non-automotive large companies as well) are pretty much globalized at this point. How much is made locally isn't hugely correlated to where HQ is located.
DETROIT — Few American brand names have ever achieved the stature of Cadillac, which was once so closely identified with excellence and status that it became shorthand for anything that was top of the line. And few brands have fallen as far.
Cadillac’s Last Stand? Storied Brand Aims (Again) for Revival
Arrogance and bean counters (no offense to accountants intended); two factors sinking Cadillac and GM in general. Thanks, Roger Smith and the brain surgeons that priced Caddy's, e.g. Allante, XLR and ELR.
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
I think Detroit in general has a pricing problem, which perhaps correlates to a cost problem vice many competitors. I also think trying to mimic Germany is not all that wise for Cadillac. If you want European you will probably buy European unless there is a compelling bargain to be found.
I don't think one trick pony DeNysschen's naming strategy is helping either, nor did his now-reversed (I think) HQ move help anything. I shudder at the thought of the golden parachute he received for doing nothing.
I also think Caddy needs to be unabashedly American, not a German wannabe. Maybe dealers could use work too, my friend who shopped a CT6 last year was really put off when it came time to talk.
Why haven't other automakers building in the U.S., other than GM, Ford, and Tesla, stated publicly their willingness to make ventilators? If I'm wrong, please enlighten me.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
I constantly hear how 'American' import car companies are, but it seems they'd be stepping up here.
I always remember during the unintended acceleration thing of several years ago, seeing Toyota's NA Head at a congressional hearing sitting next to Mr. Toyoda. The NA head looked like a deer in the headlights, deferring much to Mr. Toyoda.
Just an observation, not a criticism here, but when our local Toyota dealership was feted for their 50th anniversary, two execs from Japan came and presented them with a Samurai sword. Uh, OK.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
I constantly hear how 'American' import car companies are, but it seems they'd be stepping up here.
I always remember during the unintended acceleration thing of several years ago, seeing Toyota's NA Head at a congressional hearing sitting next to Mr. Toyoda. The NA head looked like a deer in the headlights, deferring much to Mr. Toyoda.
Just an observation, not a criticism here, but when our local Toyota dealership was feted for their 50th anniversary, two execs from Japan came and presented them with a Samurai sword. Uh, OK.
Could it be because the "American" companies that get constant bail outs, special tax breaks, and interest-free loans (to disguise further bailouts) can afford to make ventilators with our tax money?
'15 Audi Misano Red Pearl S4, '16 Audi TTS Daytona Gray Pearl, Wife's '19 VW Tiguan SEL 4-Motion
I know, I know, you had a lousy Neon 25 years ago.
Even stripping away my personal (only) preference for Detroit product, I sincerely do think the lack of any mention of pitching in now from any of the foreign companies assembling here, is deafening.
That said, I will shout it from the rooftops if they do start helping in the issue now.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
I know, I know, you had a lousy Neon 25 years ago.
Even stripping away my personal (only) preference for Detroit product, I sincerely do think the lack of any mention of pitching in now from any of the foreign companies assembling here, is deafening.
That said, I will shout it from the rooftops if they do start helping in the issue now.
I'd rather the companies that are good at what they do, stick to their day jobs and keep making bullet-proof vehicles (or work on getting as close to bulletproof and flawless as possible.
While this is bad for business at Tow Trucks R US, it is good for my disposable income, and I can help out the economy more buying $4.50 Lattes and $10 gourmet Bacon Cheeseburgers at BURGER BENCH in Escondido (they use all locally grown product; you'll like that!). If you are ever in the area, recommend the Bench Burger highly.
'15 Audi Misano Red Pearl S4, '16 Audi TTS Daytona Gray Pearl, Wife's '19 VW Tiguan SEL 4-Motion
Daughter lives in San Luis Obispo. I couldn't live in a place where so much of my money would go to real estate and gas, but I'll concede to being a cheapskate. She enjoys it there.
When I moved her out there last August, we ended up driving on two-lane roads right past where James Dean was killed in his Porsche Spyder on 9/30/55. I love 20th century U.S. history and pop culture and I did get a chill going through there. There's a California state marker there (Cholame, CA). We wondered why about 30 miles back east of there was a Texaco station with enormous cutouts of Dean outside. When I got home and Googled it, that was the last place he stopped, to buy a Coke and an apple. It's called Blackwell's Corner.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
I know, I know, you had a lousy Neon 25 years ago.
Even stripping away my personal (only) preference for Detroit product, I sincerely do think the lack of any mention of pitching in now from any of the foreign companies assembling here, is deafening.
That said, I will shout it from the rooftops if they do start helping in the issue now.
The toyota company is running a nice ad talking about caring and understanding during this difficult time here in SW Ohio.
Everybody's talking about it, but I do seriously wonder why I have heard absolutely nothing about any companies besides GM, Ford, and Tesla making ventilators for the problems brought on by this.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
I believe Nissan in the U.K. has talked about it. Making ventilators is not easy, however. Tesla is uniquely positioned to do so because the SpaceX company also makes air systems.
'14 Buick Encore Convenience '17 Chevy Volt Premiere
Although my wife was on the phone talking over it, so I couldn't hear it all, I heard that GM had to be pushed into ventilators today. I wonder if the foreign manufacturers operating here can't be forced into production a la WWII era, because those automakers aren't considered U.S. corporations? I have no idea.
I actually heard Lordstown mentioned in the press meeting today, but I couldn't hear details. My understanding was that the company which moved into the plant is called "Lordstown Motors" and is not related to GM, although GM plans to provide batteries from a nearby plant to them. Interesting to me as Lordstown is only about 40 miles down the road from me, and in fact was about that far from me where I grew up as well, just going the opposite direction.
I'm foggy on these details.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
I saw something today that Dyson had invented (or was working on) a new more efficient design ventilator that they would be cranking out soon.
my guess is that ventilators is a product that has not really changed in decades, because there was no incentive before now to do so. But looking at them, they really seem like antiques so very possible that pretty soon they will have made an evolutionary leap.
also seems like something that should be a central device (like a central vacuum system) where there is a big air device, and ports to hook hoses into at each bed. That way you only need the hose and a regulator either at the wall connection or part of the hose.
actually, that is like a garage where they have a giant compressor and lines running around the place that you just hooked your pneumatic tool into. Today's hospitals are the equivalent of every work space needing their own compressor.
GM (and Ford too) should not be shamed nor blamed for not being able to turn on a dime and produce products very far out of their core business. They can most likely do it, but it will take some time, and publicly shaming them (GM in particular) does absolutely no good and shows a lack of understanding of manufacturing and a lack of leadership. I’m about as far from a GM fan as you can find, but fair is fair and they do not deserve this type of treatment.
I'm pro-GM, but it was presented that they wanted more money. I guess they've come to an agreement.
Still, I sincerely wonder why the foreign companies who assemble cars here haven't made statements about doing the same. I haven't heard it, if they have.
2024 Chevrolet Corvette Stingray 2LT; 2019 Chevrolet Equinox LT; 2015 Chevrolet Cruze LS
First, the government directly asked GM, not other automakers. Second, the auto unions were on board to make up for the plant closings. Third, the administration’s harsh criticism of GM’s attempts scared off both Ford and Chrysler, let alone anybody else. Now, finally, everyone seems to be cooperating. In the end, who cares who did what or offered what, the point is to get more ventilators up and running in this country.
'14 Buick Encore Convenience '17 Chevy Volt Premiere
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2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
We were screwed by the new tax law as it caps property tax + state income tax at $10K .. That lost me around $6-8K in deductions. We owe about $2K more than we would in an average year. Which also triggers an underpayment penalty. :@
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
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2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
'17 Chevy Volt Premiere
though as much as I complain about getting whapped with a tax bill, it is still way less than the 2 tuition bills I did not have to pay in 2018! So still ahead of the game.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
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2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
IIRC, 75% of E sales are sedans.
So is there like a $10K incentive, or am I missing something?
Ford topped all U.S. brands at No. 4, with Lincoln at 5th, Chevrolet at 6th, Dodge at 8th, Buick at 11th, GMC at 12th, Cadillac at 17th, Jeep at 18th, Ram at 21st and Chrysler at 25th.
https://www.detroitnews.com/story/business/autos/2019/06/19/korean-brands-top-j-d-powers-initial-quality-auto-rankings/1488480001/
But, my two cars/8 years of Jag ownership has been reliable and fun!
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
https://www.foxbusiness.com/industrials/ford-gm-dont-make-the-most-american-made-car-heres-who-does
Of the top 15, nine are manufactured by Japanese firms Honda or Toyota. Ford’s F-150 pickup is the only vehicle from the Dearborn-based company to make it on the list:
1. Jeep Cherokee
2. Honda Odyssey
3. Honda Ridgeline
4. Honda Passport
5. Chevrolet Corvette
6. Acura MDX
7. Honda Pilot
8. Chevrolet Colorado
9. GMC Canyon
10. Acura RDX
11. Chevrolet Camaro
12. Toyota Avalon
13. Ford F-150
14. Honda Accord
15. Toyota Tundra
DETROIT — Few American brand names have ever achieved the stature of Cadillac, which was once so closely identified with excellence and status that it became shorthand for anything that was top of the line. And few brands have fallen as far.
Cadillac’s Last Stand? Storied Brand Aims (Again) for Revival
https://www.nytimes.com/2019/08/27/business/cadillac-brand.html?action=click&module=News&pgtype=Homepage
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
I also think Caddy needs to be unabashedly American, not a German wannabe. Maybe dealers could use work too, my friend who shopped a CT6 last year was really put off when it came time to talk.
https://www.thetruthaboutcars.com/2019/09/as-ford-grapples-with-explorer-and-aviator-issues-one-reader-doesnt-like-what-he-discovered/
Will they strike at Ford? What about the corruption probe at UAW?
https://www.cnbc.com/2019/09/13/uaw-corruption-probe-details-lavish-use-of-union-funds-for-alcohol-cigars-steak-dinners.html
I guess it's nothing new as VW and Nissan are no better. I chose Mazda the last 10 years.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
'17 Chevy Volt Premiere
I always remember during the unintended acceleration thing of several years ago, seeing Toyota's NA Head at a congressional hearing sitting next to Mr. Toyoda. The NA head looked like a deer in the headlights, deferring much to Mr. Toyoda.
Just an observation, not a criticism here, but when our local Toyota dealership was feted for their 50th anniversary, two execs from Japan came and presented them with a Samurai sword. Uh, OK.
I know, I know, you had a lousy Neon 25 years ago.
Even stripping away my personal (only) preference for Detroit product, I sincerely do think the lack of any mention of pitching in now from any of the foreign companies assembling here, is deafening.
That said, I will shout it from the rooftops if they do start helping in the issue now.
While this is bad for business at Tow Trucks R US, it is good for my disposable income, and I can help out the economy more buying $4.50 Lattes and $10 gourmet Bacon Cheeseburgers at BURGER BENCH in Escondido (they use all locally grown product; you'll like that!). If you are ever in the area, recommend the Bench Burger highly.
When I moved her out there last August, we ended up driving on two-lane roads right past where James Dean was killed in his Porsche Spyder on 9/30/55. I love 20th century U.S. history and pop culture and I did get a chill going through there. There's a California state marker there (Cholame, CA). We wondered why about 30 miles back east of there was a Texaco station with enormous cutouts of Dean outside. When I got home and Googled it, that was the last place he stopped, to buy a Coke and an apple. It's called Blackwell's Corner.
2014 Malibu 2LT, 2015 Cruze 2LT,
'17 Chevy Volt Premiere
I actually heard Lordstown mentioned in the press meeting today, but I couldn't hear details. My understanding was that the company which moved into the plant is called "Lordstown Motors" and is not related to GM, although GM plans to provide batteries from a nearby plant to them. Interesting to me as Lordstown is only about 40 miles down the road from me, and in fact was about that far from me where I grew up as well, just going the opposite direction.
I'm foggy on these details.
my guess is that ventilators is a product that has not really changed in decades, because there was no incentive before now to do so. But looking at them, they really seem like antiques so very possible that pretty soon they will have made an evolutionary leap.
also seems like something that should be a central device (like a central vacuum system) where there is a big air device, and ports to hook hoses into at each bed. That way you only need the hose and a regulator either at the wall connection or part of the hose.
actually, that is like a garage where they have a giant compressor and lines running around the place that you just hooked your pneumatic tool into. Today's hospitals are the equivalent of every work space needing their own compressor.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
MB has something on their facebook feed about 3D printing specialized medical gear, but I don't know where they are doing it.
Still, I sincerely wonder why the foreign companies who assemble cars here haven't made statements about doing the same. I haven't heard it, if they have.
'17 Chevy Volt Premiere
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.