It's the end of the year, so there's many things that you can do to lower your tax contributions for 2016.
Here's one that i just did recently that didn't take too much of my time as I cruised in the Californian sunny warm winter on my way to the public library. Step 1. If you have old college textbooks, books, or clothes that you no longer wear or use and would like to decluter as well, here's a win-win situation. Step 2. Just find any library or local goodwill store. Step 3. Drive over and drop off the goods at the library or charity. Books, clothing, and other goods only need an appraisal if you claim a deduction over $500. If you don't want to deal with the hassle with an appraisal and other record keeping, just donate stuff $500 or less. Otherwise, you'll have to deal with the hassle of attaching Form 8283 with your tax return. You (if you do your own taxes) or your accountant won't be too pleased. You can also deduct 14 cents per mile you drive per charity as of 2016. Just be sure to save your receipts for donations.
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European delivery entails buying/leasing a car direct, getting a comped plane ride and transportation to Europe, taking a factory tour over there, having the option of driving it in the EU, and receiving it 2 months later in the US. You'll definitely be getting it for a lower than what you would pay at the dealership here because of additional fees with a middleman, the dealership. You just need to know what European car (BMW/Volvo) you want, can wait a couple of months for your car, and have the time to go abroad. If you know that you are going to be in the market for a BMW or Volvo the next couple of months, it can't hurt to check out the factory prices. Below are prices for the Volvo XC90. Prices for the Volvo XC90 direct through European Delivery. $44,800 for the base model via European delivery. Price from the Volvo website from the dealership. $45,750 for the base model throught dealership. Notice the $950 savings. Airfare, stay, insurance, and transportation is included as well. Additional information can be found on the Volvo website. You can also customize your individual car with more specific options instead of all inclusive packages at the dealership. They tell you when the car will be ready in Sweden (approximately in 3 months). You will interact with a travel agency affliated with Volvo about the travel itinerary. Volvo books you on a flight for two with SAS with seating in Economy Plus (with airport lounge privileges) that connects you through Denmark to your final destination at Gothenburg, Sweden. A Volvo company car picks you up in Volvo (figures :)) and they take you to a hotel in Gothenburg, Sweden. Dinner is comped and the next morning, they pick you up to tour the factory. You see how the cars are assembled and lunch at the company will be provided. When Volvo was owned by Ford, the facilities were pretty bare-bone, but since they were bought buy Geely in 2010, the facilities are now much nicer.
Because, Volvo had a recent 75th anniversary for something, my friend was able to get 2 nights in Gothenburg and 2 nights in Stockholm comped. The same friend who recently ordered an XC90 said that there wasn't any room for negotiation during purchase, but his prior experience with buying BMWs via European delivery definitely allowed him to negotiate car prices. Here's an article about the process with BMWs. It'll save you some cash, get you a free trip to the country that makes your car, allows you to make more customizable options, a company tour, and the option to drive your car on the roads over there, and possibly an extended vacation if you choose. 1/11/17 update: One downside of European delivery is that if you are making payments on the car, you will have to pay 1 or 2 payments once you take ownership of the car in the EU until it gets shipped to the dealership in the US where you are able to drive it. My friend had to make 2 car payments in the time it takes to get delivered to him. I recently drove the 2017 Lexus ES300h. It's one of the higher end hybrids car to consider if you are looking for efficiency, reliability, and modest styling. Lexus has 2 different ES models to choose from, the traditional ES350 with a V6, MPG of 30/21, and a starting price of $38,900. The E300h has an I4 engine and a hybrid engine, MPG 39/40, and is starting at $41,820. A great convenience factor of hybrid cars are that they usually get 500+ miles per tank so you don't have to refuel at the gas station as frequently. Hybrids are much quieter and usually don't require frequent replacement of brake pads. When the driver applies the brakes on an hybrid/electric vehicle, this causes the vehicle's electric motor to go into reverse, slowing down the vehicle, and charging the electric battery. I've talked with mechanics who haven't had to replace brake pads on the Toyota Prius over a 120,000 miles when driven by ideal drivers. This hybrid will save you time. Money will only be saved if you keep your car for about 5 years to recoup the initial cost premium ($2,920) at today's low gas prices. Disadvantages of the E300h include a much smaller trunk space that has to accomodate the rechargeable battery. Also, the acceleration isn't as great as the traditional engine equipped E350. Regarding the ES300h, the driver and passenger seats are all extremely comfortable. Other cars have cramped rear seats, but this isn't the case in the ES. Even tall backseat passengers have enough legroom to relax in comfort. The ES300h driving experience is expected to be muted and quiet. This car won't have you itching to drive it to the mountains or take sharp turns because it simply doesn't have the performance or handling for it. It's your typical hybrid car with handling as if you were driving a Camry (ie. a box car). However, it does it in a nice package and in comfort. With upgrades, this car has safety features such as blind spot monitoring, lane depature warning system that are very handy. The upgraded sound system for this car is pretty good in my opinion. The styling of the dashboard/front panel is decent, but could use some improvement. I personally prefer a touch screen menu, but the ES still uses a mouse like controller to switch between menus on the screen and to select things. It is a little inconvenient and should be re-designed in the future for easier access to information. Also, I feel that the amount of steering wheel buttons could be cut back and simplified. Some buttons on the steering wheel are there just to toggle lane assist and parking sensors on and off and don't need to be on the steering wheel. Other than that, everything else is pretty standard. I definitely recommend the car over the Lexus CT200h if you're looking for a car with more room and can afford it. It's a nice upgrade from the higher end Prius models as well.
Bottom Line: This is a good car if you're looking for a reliable hybrid with a strong focus on transporting you from point A to point B. |
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