I say "Good-bye" with much sadness....
#51
#54
Talk to a tax attorney. I was preparing my taxes the other day and when it came to trying to find deductions for my girls, turbo tax asked me:
How did your girls college get paid for:
- scholarship/grants
- by you
- by job tuition assistance
- by other
I transferred my GI BIll to my girls to assist in paying for their college. Just to see what the different options did for my refund, I entered "by me" and WOW! My refund jumped up to cover almost the entire cost of the tuition for a semester. I ended up choosing "job tuition assistance and it stayed the same. Bummer.
But the point is, talk to your tax attoney to see how much you actually get back in deductions and it may mean you can keep your bike because you will get most of the money back at tax time.
How did your girls college get paid for:
- scholarship/grants
- by you
- by job tuition assistance
- by other
I transferred my GI BIll to my girls to assist in paying for their college. Just to see what the different options did for my refund, I entered "by me" and WOW! My refund jumped up to cover almost the entire cost of the tuition for a semester. I ended up choosing "job tuition assistance and it stayed the same. Bummer.
But the point is, talk to your tax attoney to see how much you actually get back in deductions and it may mean you can keep your bike because you will get most of the money back at tax time.
#58
The 15k or so you might get for the bike won't save you from going broke putting kids through college if YOU are planning to pay for their college. It won't even scratch the surface. Better to go broke and still have a bike. However, use one of the many financial aid programs out there to get them the funding they'll need. I have 6 siblings. Nearly everyone of us has a Masters. None of us had Dad pay for it. So many programs out there...
Now if you're simply tired of the bike...
lp
Last edited by lp; 02-25-2011 at 06:40 AM.
#59
Maybe so, but to many of us that motorcycle is a hobby that gives us many enjoyable hours, provides an escape from the 9-5, and lets us explore places or experience things we might not otherwise explore or experience. I would be totally bummed if i had to get rid of mine. I can understand where UK is coming from.
Let's hope your daughter doesn't go on the 7 year plan like mine did and that you are back in the saddle again soon! Hope you stick around the forum and help out us wrench-impared folks
Let's hope your daughter doesn't go on the 7 year plan like mine did and that you are back in the saddle again soon! Hope you stick around the forum and help out us wrench-impared folks