RoadkingLarry
Member
IN the immortal words of Ron White -
"Diamonds, that'll shut 'er up"
"Diamonds, that'll shut 'er up"
Wow! It's tax time and the wife is PO'ed!
- Thread starter Big Boomer
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The Deer Hunter
Member
At least you have a wife that tolerates it
doc2rn
Member
Work one or two days a month as an armed guard, lousy pay, waste of time, but all your toys become tax deductible. This includes range fees, ammo, and rigging.
Time for you to buck up. Yup, she's right. You will only buy 4 guns next year.
Actually money is one of those things you have to do together. If you can't meet the budget spending 7,000 of firearms related stuff, you will have to cut back.
Maybe no milk for 6 months, or you could just do hamburger every other week.
Good luck and best wishes.
Actually money is one of those things you have to do together. If you can't meet the budget spending 7,000 of firearms related stuff, you will have to cut back.
Maybe no milk for 6 months, or you could just do hamburger every other week.
Good luck and best wishes.
Or both of you keep your money separate.
You pitch in half of what it takes to run the household, she does the same... whatever is left of your paycheck is your disposable income, and whatever is left of her paycheck is her disposable income. Do whatever you want with your own money. If she claims that doesn't leave her enough disposable money, she can always get a better job or a second job. Hey, that's what I do if I'm not happy with the money I have left over after bills, bust my butt a little more and get MORE money. Simple solution, eh?
You pitch in half of what it takes to run the household, she does the same... whatever is left of your paycheck is your disposable income, and whatever is left of her paycheck is her disposable income. Do whatever you want with your own money. If she claims that doesn't leave her enough disposable money, she can always get a better job or a second job. Hey, that's what I do if I'm not happy with the money I have left over after bills, bust my butt a little more and get MORE money. Simple solution, eh?
I know what you mean, Big Boomer. It can get really expensive. Ammo, mags, holsters and other accessories really add up too. I personally try and set a reasonable limit on what firearms I reasonably "need", which helps me not go into undisciplined and unwise over-consumption. It still is expensive but at least it isn't a bottomless money pit any more.
I probably spent about $4500 myself last year, but much of that was due to prudent purchases before the upcoming election, and purchases related to me getting my CHL as well. The good thing is that I'm pretty much set for anything that happens after November 2008 now.
I don't know about how to deal with your wife exactly. My girlfriend and I live together, but we keep our finances separate. She would probably make some comments if she saw exactly how much everything cost, but she accepts me for who I am. I also pay the house bills, mortgage and upkeep all by myself which is ultimately what kind of fiscal behavior she wants from me.
I probably spent about $4500 myself last year, but much of that was due to prudent purchases before the upcoming election, and purchases related to me getting my CHL as well. The good thing is that I'm pretty much set for anything that happens after November 2008 now.
I don't know about how to deal with your wife exactly. My girlfriend and I live together, but we keep our finances separate. She would probably make some comments if she saw exactly how much everything cost, but she accepts me for who I am. I also pay the house bills, mortgage and upkeep all by myself which is ultimately what kind of fiscal behavior she wants from me.
biscuitninja
Member
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- Sep 28, 2007
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- 353
Pssh 7000, amature! 7000 was my FEDERAL bill only, i still had the state bill.
-bix
-bix
one-shot-one
Member
pricey hobbies
scuba diving can get pricey too, 'specialy when you figure in trips to sunny places with nice diving spots.
don't know personaly but even golf can get expensive (price Ping clubs)
scuba diving can get pricey too, 'specialy when you figure in trips to sunny places with nice diving spots.
don't know personaly but even golf can get expensive (price Ping clubs)
target1911
Member
I got my live-in GF her own pistol when she started complaining about my gun buys. She shut up for awhile. Well......I am about to buy her a second one and she finished her CHL class yesterday. Hmmmm......I think its time to go get me my AR now.
doubleh
Member
My wife and I don't argue about money. We are retired and know what we can spend. I rag on her about how many pairs of shoes she buys and and she gets on me about guns but it is all in fun.
We had to go out of town yesterday for a Dr.'s appointment to check how her new knee is coming along. I forgot to throw the 9mm in the car. When I thought about it I told her "I have to buy a pistol in Roswell because I forgot to put one in the car and we are unprotected." Her reply was 'OK". I'm sure she knew I was yanking her chain. Later I mentioned I was kidding. She replied she knew I was but if I wanted to buy a gun she didn't care. No, I buy a gun.
We had to go out of town yesterday for a Dr.'s appointment to check how her new knee is coming along. I forgot to throw the 9mm in the car. When I thought about it I told her "I have to buy a pistol in Roswell because I forgot to put one in the car and we are unprotected." Her reply was 'OK". I'm sure she knew I was yanking her chain. Later I mentioned I was kidding. She replied she knew I was but if I wanted to buy a gun she didn't care. No, I buy a gun.
I'm still trying to figure out what totaling all the non-deductible consumer purchases such as firearms, accessories, and ammo has to do with "tax time"... unless it's also part and parcel with a "year in review" of income and expenditures.
And I don't know why the OP ought to be "in the dog house" if all the receipts were "public record" within the marriage, and presumably the purchases were as well.
And I don't know why the OP ought to be "in the dog house" if all the receipts were "public record" within the marriage, and presumably the purchases were as well.
-terry
Member
My wife and I put all our money into a "joint" account. Then we both take an agreed amount out for our "personal money." This personal money goes into a separate checking account, one for her and one for me. What we spend out of that account is out of bounds for argument, criticism, or even mention.
The only place where we still discuss money now, is determining when the "joint" should pay for something, vis a vis from a personal account, i.e. when my computer crashed, do I replace it out of my money because I'm choosing what kind and how it will be configured, or does the Joint pay for it because it really kind of a house expense. (In my case, the Joint payed for it.)
Works for us.
-terry
The only place where we still discuss money now, is determining when the "joint" should pay for something, vis a vis from a personal account, i.e. when my computer crashed, do I replace it out of my money because I'm choosing what kind and how it will be configured, or does the Joint pay for it because it really kind of a house expense. (In my case, the Joint payed for it.)
Works for us.
-terry
Sage of Seattle
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- May 24, 2006
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- 773
Ditto. Except we just call it an allowance. We both get our mad money and have complete discretion over it, no questions asked. Anything more, and it's a joint decision.
Geojap, I'm glad it works for you, but this
just don't fly in my world. You both live together, she has her own income, yet you pay for everything and that's what she expects?
I raise the kids, go to school, earn the money, help out around the house and that's exactly what I expect my PARTNER to do too. We love each other and support one another but this whole idea of "what I earn is mine, what you earn is ours" is BS.
Don't take it personally, I'm glad it works for you. Just had to vent a bit. My fiancee knows this full well going into our marriage so it's not an issue.
offthepaper
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- Dec 5, 2005
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- 1,446
Yes.
Next year, do your taxes alone.
mainebear
Member
Words of Wisdom? Yeah ......
#1 If you ever get her started with her own guns, this is very good.....I did this with my wife, this stopped the nagging about the guns I buy. Now she only nags me to buy HER new guns. Ones I clean but am forbidden to shoot. Most of the time. She makes an exception if I'm good.
#2 Be thankful you don't own an airplane.
#1 If you ever get her started with her own guns, this is very good.....I did this with my wife, this stopped the nagging about the guns I buy. Now she only nags me to buy HER new guns. Ones I clean but am forbidden to shoot. Most of the time. She makes an exception if I'm good.
#2 Be thankful you don't own an airplane.
browningguy
Member
Why would you even add up the cost? Is there some deduction you have found?
And then why would you show it to your wife???
And then why would you show it to your wife???
I can see how you could interpret it that way, but that isn't really how it works with us. The point was that she likes that I make smart decisions and can pay my bills (with money left over), which let's me do things like buy firearms and ammo purchases with little to no grief from her. Right now I'm more than able to pay for my house and it doesn't bother me. She also owns a house herself, so she pays the bills on her place. We are deciding what to do with her place. We will probably rent it out at some point soon, although her parents stay there a lot currently. We are pretty frugal overall which gives us a lot of flexibility. We keep our money separate, but if something comes up needs to be paid for, either one of us could and will pay for it. It isn't an issue. For instance, I've been doing a lot of repair and improvements on my house, and she wanted to take a vacation (which I hadn't budgeted for since I was spending it on the house). So she paid for both of us to take a trip for a week overseas. So it works both ways, we don't sweat it.
The mechanics of our relationship work really well. She accepts me for who I am and I try and be a better man for her. We don't sweat who will pay for what, and since we are pretty frugal and don't live beyond our means, it always works out.
TexasRifleman
Moderator Emeritus
Try airplanes. She'll be begging you to take up collecting machine guns....
As for the deductibility, there is some strange and erroneous information floating around on here...
If you are an instructor, who receives money for it, you can deduct all of your gun purchases up to the amount you receive for pay, as what you are doing is a HOBBY. For instance, if you receive $2000 a year for instruction, and spend $7000 a year on guns and the like, you can only deduct $2000 that was received for fees. In other words, you do not have to pay taxes on the money that you earned. You can not claim a loss of the $5000. There may also be some issues with if you can deduct the full purchase price of guns in the year that they are purchased, or do they need to be depreciated over several years.
If you are claiming that your instruction is a business, you will be allowed two years of losses out of ever five (I believe it is five.) After that, you had best make a profit, and pay taxes on it. And, best to have some evidence supporting your operating a business, such as a business checking account, state sales tax certificate, or the like. A business plan to show that you are operating a business and looking to make a profit doesn't hurt either, as well as contact lists for students, etc.
Of course, you want to check with an accountant on this. Not as much a tax preparer, but an accountant or enrolled agent. Especially if you are saying that you are running a business, so that you will have the bases covered.
If you are an instructor, who receives money for it, you can deduct all of your gun purchases up to the amount you receive for pay, as what you are doing is a HOBBY. For instance, if you receive $2000 a year for instruction, and spend $7000 a year on guns and the like, you can only deduct $2000 that was received for fees. In other words, you do not have to pay taxes on the money that you earned. You can not claim a loss of the $5000. There may also be some issues with if you can deduct the full purchase price of guns in the year that they are purchased, or do they need to be depreciated over several years.
If you are claiming that your instruction is a business, you will be allowed two years of losses out of ever five (I believe it is five.) After that, you had best make a profit, and pay taxes on it. And, best to have some evidence supporting your operating a business, such as a business checking account, state sales tax certificate, or the like. A business plan to show that you are operating a business and looking to make a profit doesn't hurt either, as well as contact lists for students, etc.
Of course, you want to check with an accountant on this. Not as much a tax preparer, but an accountant or enrolled agent. Especially if you are saying that you are running a business, so that you will have the bases covered.
BozemanMT
Member
2LMan
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you have to make money in 2 out of every 5 years. You generally get the first couple to lose money, but after that you better make some money once in a while. Showing you are truly running a business as you said makes a big difference.
If they disallow the business and turn it back into a hobby, they go back X number of years and disallow all the deductions and then you owe penalties and interest on the tax.
The IRS scares me
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you have to make money in 2 out of every 5 years. You generally get the first couple to lose money, but after that you better make some money once in a while. Showing you are truly running a business as you said makes a big difference.
If they disallow the business and turn it back into a hobby, they go back X number of years and disallow all the deductions and then you owe penalties and interest on the tax.
The IRS scares me
Correct Bozeman.
I forgot to mention the first two years is considered a ruling period. Even then, you really need what I mentioned that will tell that you are operating a business.
No need to be scared of the IRS... just do it right. If it is close, take it. But, if it is totally off the wall, and really can't be explained in a reasonable manner, take the deduction at your own risk! You will likely be caught on it someday.
I forgot to mention the first two years is considered a ruling period. Even then, you really need what I mentioned that will tell that you are operating a business.
No need to be scared of the IRS... just do it right. If it is close, take it. But, if it is totally off the wall, and really can't be explained in a reasonable manner, take the deduction at your own risk! You will likely be caught on it someday.
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