triooc.blogg.se

1. #MONEYMONEY MONET CLARINET HOW TO#
2. #MONEYMONEY MONET CLARINET PRO#
3. #MONEYMONEY MONET CLARINET PROFESSIONAL#

This gets a little more complicated, Homer. This is probably the easiest way to go, and generally the interest rates are lower.īut let’s go back to business loans. If you can take out a student loan to help pay for it, you may be able to deduct the interest payment from your taxes. And, therefore the interest payments you have to pay on the loan are slightly offset by the tax benefit you get during tax season. What this means is that this kind of loan reduces the amount of taxes you would have to pay. For example, if you had an income of $30,000 for the year, and you paid $10,000 in interest on your mortgage, your taxable income would be reduced to $20,000. A tax deduction is subtracted from a the gross income of a taxpayer. Tax deductions and tax credits both lower the amount of money a person has to pay in taxes. However, you may be able to claim interest you've paid when you file your taxes if you take out a loan or accrue credit card charges to finance business expenses (keep that in mind, we’ll get back to it.) And, finally, interest on qualified student loans, which are used to pay for qualified educational expenses, is tax deductible.įor those kind of new to taxes, from Wikipedia:Ī tax deduction is a way to reduce the amount of income that is subject to a tax. Well, in the United States, interest paid on personal loans, car loans, and credit cards is generally not tax deductible. Wait-what? How can interest benefit you? It’s money you have to pay to the lender! Here’s the way I look at it: if you’re going to borrow money, try to borrow it in a way where the interest payment benefits you. There are many, many types of loans out there-everything from usurious so-called “Payday loans” to business loans to mortgages. You’ll respect yourself for it, and they will, too. Even if your relatives are like, “yeah, don’t worry about it,” unless it’s an outright gift, take the official route. It allows your loan to be separate from your relationship, provides provisions for issues that can come up, and is just the right thing to do for everyone involved. It is worth spending the time (and even a few bucks) doing this right. Of course, you can also have a lawyer draw one up. Check here and here and here to see if you like these options. You don’t have to guess there are templates online you can download-many of them for free. And by borrowing, I don’t mean “uh, lend me the money and I’ll pay you back when I can” - I mean actually filling out a formal loan agreement, one that outlines the interest and term (length) of the loan, penalties and late fees, default remedies, and so on. This is a decent option if you have family who can support you.

Treat consumer credit with the respect it deserves-it can kill you if you aren’t careful. Why? Because you typically pay the highest rates of interest, you cannot easily refinance, you can’t deduct interest payments from your taxes, and if you default, or pay late, it is one of the easiest/fastest ways to ruin your credit. Using consumer credit is the worst option, period. With that, here’s my answerĪs I see it, Homer, you have a few options to pay for your instrument: And finally, if YOU are an expert in this stuff, please, please add your thoughts to the comment section below so we can all learn together. But it’s layman’s advice that came from sitting at my dinner table and having finances part of my daily dinner menu.

(Quick note: I am by no means an expert on this stuff, so this is total layman’s advice. And one that I wanted put some thought into answering.

#MONEYMONEY MONET CLARINET PRO#

So what would be the best way to tackle this? Ideally, I need a pro model bass. Obviously, I have a financial barrier with that.

I am starting graduate school in the fall at the, and I need a solid bass for my studies.

I wanted to reach out to you about purchasing a bass. And while as a 5 year old I hated it, much of it stuck. I listened to him and my mom talk at the dinner table about it most nights. It got me thinking: my dad was a financial consultant (one of the earliest in the field, actually).

#MONEYMONEY MONET CLARINET HOW TO#

I just received an email from a college senior ready to purchase an instrument for grad school, and looking for advice on how to pay for it. (And for those wondering whether to buy a student or pro model, read this post.

#MONEYMONEY MONET CLARINET PROFESSIONAL#

Bass clarinets are expensive, aren’t they? I know in the scheme of things, they are nowhere near the cost of string instruments, or even some other wind instruments, but for a professional bass clarinet you’re going to spend upwards of $14,000.