hayabusa owner profile

[bajabug]

this should be interesting.

 

[STUNNAH]

You didn't indicate a negative...

 

[r1R00KIE]

Is this gross household income or individual?

 

[r1R00KIE]

Is this gross household income or individual?

Not that it matters as I'm an R1 owner

 

[A'Busa'd]

Is this income before or after mods?

 

[HayaGreg]

Is this AGI or NET?

 

[HayaGreg]

Also, does this include the 'Busa as an asset or liability?

 

[Cecil_Stringer]

Also, does this include the 'Busa as an asset or liability?

If the Busa is NOT Capitalized then it is to be treated as an Expense.
However, GAAP (Generally Accepted Accounting Principles) and FASB (Financial Accounting Standards Board) incorporates depreciation which can be used to decrease your annual liabilites over the expected useful life of the asset purchased.
Both the Balance Sheet and the Income Statement can be footnoted to incorporate the Economic value (Total Revenue = Intrinsic Expenses + Extrinsic Expenses) versus the standard Accounting value (Total Revenue = Extrinsic Expenses) thus showing a more realistic net worth with regards to the Busa.

 

[warbrown]

Also, does this include the 'Busa as an asset or liability?

If the Busa is NOT Capitalized then it is to be treated as an Expense.
However, GAAP (Generally Accepted Accounting Principles) and FASB (Financial Accounting Standards Board) incorporates depreciation which can be used to decrease your annual liabilites over the expected useful life of the asset purchased.
Both the Balance Sheet and the Income Statement can be footnoted to incorporate the Economic value (Total Revenue = Intrinsic Expenses + Extrinsic Expenses) versus the standard Accounting value (Total Revenue = Extrinsic Expenses) thus showing a more realistic net worth with regards to the Busa.

Huh???

I'd be so lost without an accountant!

 

[Revlis]

What's funny and what we all need to list here is actual NET WORTH... Now that would be some funny shid...

 

[Revlis]

Is this gross household income or individual?

I'd say if your married call it Household, if your single call it Individual... Call it a hunch?

 

[Cecil_Stringer]

What's funny and what we all need to list here is actual NET WORTH...     Now that would be some funny shid...

... the just how much debt do you have thread...

That would be funny.

 

[Revlis]

What's funny and what we all need to list here is actual NET WORTH...     Now that would be some funny shid...

... the just how much debt do you have thread...

That would be funny.

Oh Yeah!  Especially when they count your Mortgage note...  Oh that's some funny shid...  

Last time I checked about 2 years ago, I was at about -$250k or so...  Should be better now...  Though Prolly not in the +'s yet...  AHH, The American Way!  

 

[bajabug]

i knew this would provide an interesting topic thanks for the posts.

got my crashed busa running today sounds awsome with my mods. alot better than the fzr...

 

[Relsek]

It's kind of funny, I was just wondering this either today or yesterday.

In my house, I'm the only one with an income. My wife is the stay-at-home-take-care-of-her-husband-and-kids type. Ain't she great?



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[PAPA-Wheelie]

I think they wanted actual income not what you wish you were making!!! I think 30% is really inflated. JMHO. Later

 

[vincent]

military E-5 under 8yrs. Wife and 3 kids.
Not making much at all

 

[Revlis]

I think Papa Wheelie is having some issues...

Vincent, I understand your Pain man.... But at least they help with housing, and Chow. Military is a pretty good way to raise a family though. Hell my wife turned out pretty OK.

 

[Relsek]

military E-5 under 8yrs.  Wife and 3 kids.
Not making much at all

I remember my days in the military. I knew exactly what was coming in every month and always had it spent. I was terrible at budgeting, I never did it. Now my paychecks vary greatly. One week I may make double what I made the week before, so I budget for always making the low end and when I make more, it's gravy. If I had done this a long time ago who knows where I'd stand.

 

[Cecil_Stringer]

military E-5 under 8yrs.  Wife and 3 kids.
Not making much at all

I remember my days in the military. I knew exactly what was coming in every month and always had it spent. I was terrible at budgeting, I never did it. Now my paychecks vary greatly. One week I may make double what I made the week before, so I budget for always making the low end and when I make more, it's gravy.    If I had done this a long time ago who knows where I'd stand.

What's a budget?