| Joined: Jan 2004 Posts: 2,627 Member/2500+posts | Member/2500+posts Joined: Jan 2004 Posts: 2,627 | Billy- I bought it to fish the Chesapeake bay for strippers and when I figured out all the costs, I was paying about $500 a pound Jeff, there's yer problem, you have to throw the fat ones back!
Greg
| | | | Joined: Dec 2006 Posts: 55 Member | Member Joined: Dec 2006 Posts: 55 | This is a little off topic, but I just got my first tax bill for the county and I'm being taxed on for the hanger I RENT besides my plane ?????
I understand the tax bill I got for the airplane but a rental hanger ? I've never herd of taxing renters on rental property.
Howard Welte Tracy CA 150G N4631X
| | | | Joined: Nov 2006 Posts: 7,054 Likes: 99 Member/5000+posts! | Member/5000+posts! Joined: Nov 2006 Posts: 7,054 Likes: 99 | ...I just got my first tax bill for the county and I'm being taxed on for the hanger I RENT besides my plane ?????
I understand the tax bill I got for the airplane but a rental hanger ? I've never herd of taxing renters on rental property.... The County of Santa Clara taxes me yearly on the value of my plane (which THEY say is worth about $17,000), plus they tax me on my tie-down spot at South County Airport in Santa Clara. Go figure. You're paying tax on the parcel of land. By the way, if you think you "own" a house (or a plane, for that matter), just try not paying the property tax on it, and you will find out who really owns it. | | | | Joined: Dec 2006 Posts: 55 Member | Member Joined: Dec 2006 Posts: 55 | That's right I just remember, it's death and TAXES.
Howard Welte Tracy CA 150G N4631X
| | | | Joined: Mar 2006 Posts: 4,768 Likes: 3 Member/2500+posts | Member/2500+posts Joined: Mar 2006 Posts: 4,768 Likes: 3 | Billy:
Having rented and owned in the same general geographic area, I would say that you are money ahead to purchase a 150 or 152 rather than rent, with some provisoes:
First: You gotta fly the bird. If you don't fly much, rent.
Second: You need to start off with a solid airplane. If you get an airplane with a lot of problems, you will spend a lot of money, and selling an airplane, even a solid one, is more difficult than finding a good one to purchase.
Third: (Maybe first) stick with the 150/152. There is no less expensive way to fly.
Fourth: Shop for everything. Carl has negotiated a good deal with a parts supplier. Use it. Look for a good mechanic who LIKES to do owner-assisted annuals. And stay ahead of your maintenance items. Fixing a small problem early is a lot less expensive than fixing a larger problem later.
You can further reduce your out-of-pocket expenses by buying an airplane with a low to mid time engine (that has been flown regularly) and assume the airplane's value will be zero when the engine hits 1800 hours, and not contributing to an overhaul fund. I am not saying I recommend this approach, it is just one way of managing your flying expenses.
I further reduced my costs by having a partner. There are pitfalls, but with only two of us using the plane it is almost always available when I want to fly. My fixed expenses plus contribution to overhaul based on hours rarely exceed $300 per month. That leaves just fuel ...
Reg | | | | Joined: Jul 2004 Posts: 21,705 Likes: 2245 Member/20,000 posts | Member/20,000 posts Joined: Jul 2004 Posts: 21,705 Likes: 2245 | I've never herd of taxing renters on rental property. Any taxing authority is nothing but "legalized, organized crime". Sorry Mr. Capone, I didn't mean to insult you or your organization by grouping you in with a bunch of money grabbing, cut throat, insensible, insensitive hoodlums.... Jim
Cessna 150/150, N2259M - Mighty Mouse
| | | | Joined: Jan 2006 Posts: 3,657 Member/2500+posts | Member/2500+posts Joined: Jan 2006 Posts: 3,657 | I've never herd of taxing renters on rental property. Any taxing authority is nothing but "legalized, organized crime". Sorry Mr. Capone, I didn't mean to insult you or your organization by grouping you in with a bunch of money grabbing, cut throat, insensible, insensitive hoodlums.... Jim Jim, don't get me started!!!!!!!!!
Pat
Never run out of altitude, airspeed, and ideas at the same time.
| | | | Joined: Jan 2004 Posts: 18,962 Likes: 3 Member/15,000 posts | Member/15,000 posts Joined: Jan 2004 Posts: 18,962 Likes: 3 | Me neither! The Boston Tea Party occured because a 10% tax was thought to be too high?  | | | | Joined: Jun 2004 Posts: 35,523 Likes: 554 DA POOBS Member with 30,000+ posts!! | DA POOBS Member with 30,000+ posts!! Joined: Jun 2004 Posts: 35,523 Likes: 554 | Who was it (Oiver Wendell Holmes?) that said "The power to tax is the power to destroy." ![[Linked Image from animatedimages.org]](https://www.animatedimages.org/data/media/218/animated-penguin-image-0137.gif) [ animatedimages.org] Imagine a united world. Join the Popular Front for the Reunification of Gondwanaland. | | | | Joined: Feb 2007 Posts: 618 Member/500+posts | Member/500+posts Joined: Feb 2007 Posts: 618 | "Two things in life are certain - death and taxes. But at least death doesn't get worse each time Congress meets." Will Rogers.
Mike Dann 1975 A150M Tailwheel Aerobat Gardner (K34), Kansas
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