OK: I take it back about the friction

Did I set the forces of bad karma in motion? A mere few hours after penning my post in praise of friction, I set off for some R and R at the food bank thrift store. I figured that the spa experience of thrift shopping would help me gird up my loins for the final misery of taxes: figuring capital gains and rental losses.

Off I went. A little light came on. Then it went off. Then I couldn't steer. WHAT????

Luckily, I was near my destination, but it was difficult as I have extremely weak arms.

OF COURSE, we only have one car at the moment, since Frugal Son was hit by a bad man without a license who left the scene.
OF COURSE, I didn't have a phone.
AND OF COURSE, Mr FS seldom answers the phone anyway, since he works outside with earphones.

The karmic forces weren't totally against me. Nice Mr Pat let me use his phone at the store. Mr FS answered (a miracle!) and he rode his bike over. The power steering resumed its work.

Now we have to take our single car to the shop. They don't have loaners but will rent to us for $30/day. Seems to be an electrical problem.

I take it back about the joys of friction. I hit a few snags on the tax form (and I am an educated person who is not afraid of numbers...erghh).

Next day.....

UPDATES. I awoke at 6 ready to finish the taxes. The following took my attention till 4. That's 10 hours.

OF COURSE the electrical problem didn't manifest itself at the Honda place.
OF COURSE, we have to buy another car since I refuse to drive the Honda (we were planning to replace the totaled one anyway).
OF COURSE, I made a $10 arithmetical error on my taxes,which would have necessitated doing it all over again. I ignored it (the IRS always corrects my mistakes. Please don't audit me. It's always an accident.)
OF COURSE, the printer messed up while I was trying to print out a form.
OF COURSE, State Farm lost the records of something we paid for so I had to help MR FS find it by scouring all credit card records and checkbooks.

Plus some other stuff I can't remember at the moment. My beloved burritos didn't help. No, I had to eat pot stickers and pierogi.

FRICTION BE GONE!

My Summer (Financial) To Do List and Scary Financial News

At the end of the summer, I am always filled with sadness over things left undone. There are always many. But as I was cleaning up--as we prepare for our last family visit for the summer--I found a list.

RETURN STUFF TO LANDS END
RETURN STUFF TO LL BEAN
TAXES!!!!!!

Yes, I did all those things. Thanks to the American Opportunity Tax Credit, which covers college textbooks, we got a hefty refund, all of which is going to our next summer's travel. Returning unsatisfactory items to LE and LLB is being a conscientious consumer, something my Frugal Dad would have been proud of.

The scary financial news coming every day is reminding me of the dreaded year 2008. Honestly, all I can do is focus on my little frugal ways.

Are you scared by the news these days? How's your To do list?

Things I Completed, Some Involving Money Back

Before I left for Nantes--how I love deadlines--I completed three things that have given me back some cash.

--returned unsatisfactory items to LL Bean. Love their guarantee. Miss Em wanted a pricey backpack from the Signature line and found it uncomfortable (as did others in comments).

--returned unsatisfactory items to Lands End. This took several phone calls, but I finally worked things out. The CS reps must take nice lessons, because I was always smiling after the calls. I really should take nice lessons.

--Filed my taxes, which will result in a refund. Part 2: I owe state taxes as a result of the refund. Oh well.

While the tax refund is the big ticket item, the returns total around $200. Nothing to sneeze at.

Do you return unsatisfactory items or do you let them languish (as I did)?

Procrastination, Decluttering, Frugality

Hmmmmm. The story of my life, kind of like Liberté, égalité, fraternité, only not as uplifting.

Another good tip from Susan Pinsky's book. For paperwork, if you CAN'T JUST DISCARD, have a Paper Box next to your trashcan. Under your desk. Just throw in all those papers you may need. If you do need one, they will be filed by date!

For the truly disorganized (me?), you can do that all year with things you will need--or probably won't need--for taxes. Then, at tax time, you have all your credit card statements and so forth. In chronological order!

Why is this on my mind? Because (so embarrassing), dear readers, I filed a tax extension. I have no excuse. My taxes are easy: I don't itemize. I do have to keep track of educational expenses for my children. And we have a teeny bit (and I do mean teeny) of self-employment income for when the public library asks us to lead a book discussion or the like.

Even though I LOVE doing grade school arithmetic, I always make dumb mistakes. Like last year: I took the Standard Deduction of $11,000 or so and instead of subtracting $11,000, I subtracted $1100! The IRS caught that one and sent me back the correct amount. I'm sure my return goes into a special section for humor.

So, I will finish today after my root canal. My refund should pay for the procedure. Even though I should have done this a few months ago, my refund will be a nice surprise.

Once I get the return off, I can throw everything in a box and put it away. That's the decluttering I like.

Another plug for Susan Pinsky!

And I have this other book on hold at the library.

Do you engage in any embarrassing forms of procrastination?

American Opportunity Education Tax Credit: Textbooks Included

For all the laments about the rising costs of college, there are plenty of people who pay low or no tuition. For some, perhaps most, this is need-based. For others, including many members of the middle class or beyond, this is merit based.

Why am I mentioning this? Because I have mentioned the American Opportunity Tax Credit to many people and not one had heard of it. There have long been tax credits for tuition and fees. And for most, tuition and fees ate up--and continue to eat up--the credit, In 2009-10 (and, I think extended in the recent lame duck congressional session), TEXTBOOKS are included in the $2500/year potential credit. TEXTBOOKS were never included before.

Because both of my children made use of their National Merit Scholarships, they pay no tuition or fees. THANK YOU CHILDREN FOR YOUR CHOICES. Like many, I have been appalled by textbook prices. Even with all my ingenuity and frugal bloodhound skills, I have seldom managed to save very much.

As of 2009, I can relax. The French text is $120 plus a $90 computer pad fee...well, tant pis.

But many don't know about this. My daughter wanted to lend her books to her pal last semester. The books were keepers and I didn't want them to go astray. Miss Em's friend had very high SATs and received free tuition at the same college. I told Miss Em to tell the friend to tell her parents that they would be eligible for the credit. Via the grapevine--from a doctor--a thank you.

Miss Em's hometown friend who received both need- and merit-based aid was lamenting the fact that she couldn't accompany us to Goodwill for a fun shop because she had to save for her textbooks. I told her to tell her mother about the credit. I hope she does.

Many students in Louisiana (TOPs program) and Georgia (HOPE credit) pay no tuition. Other states give free or reduced tuition to students--like my daughter's friend above--who have high SATs or ACTs (over 1400 seems to be required; over 1500 will be better. This is just for the first two parts. For the ACT, I think over 30 is the requirement. It may be higher.)

Even students at private schools may receive tuition scholarships. Textbooks, often not covered, are estimated to cost around $500/semester. I think this is a low estimate, since textbooks prices--like prescription drugs--are both required and prescribed by people often clueless about the cost to the users. Much has been written about the constant, unnecessary revisions in textbooks, which render used books unusable.

OK. Enough of that rant. For those who pay no or low tuition--and this perhaps applies to community college students in some areas--the American Opportunity credit can BE USED FOR TEXTBOOKS.

I hope Miss Em's pal's mom files an amended return for 2009 and 2010.

If you know anyone in a relevant situation, please pass on this info!

P.S. I am NOT A TAX EXPERT. LOOK INTO THIS YOURSELF. PLEASE.

Currency Conversion Fees and Sales Tax on Food: What Me Worry?

All those fees and taxes. Funny About Money faces a new 2% tax on groceries in Phoenix and is considering whether it's worth it to go to the no-tax Commissary with her frugal friend.

The New York Times has a piece on the 3% fees for currency conversion that the evil credit card companies tack on.

Needless to say, 2% or 3% is more than you can make on your money in most bank accounts or CDs these days. So why do I say What ME Worry? Am I losing my frugal edge? After all, I did counsel a fellow blogger to get the designer purse she wants, rather than several less thrilling alternatives.

No, I don't think I'm losing my frugal edge. After all, I popped into Big Lots this morning to take advantage of their 20% off sale.

Sometimes it's just not worth it to worry about those percentages because it doesn't pay or because you can't win.

Grocery tax. My esteemed state with its regressive tax system has long had sales tax on food. It used to be the regular tax (almost 10%). A few years ago, it was made more progressive and lowered to about 4%, with a concomitant rise in state income tax. I supported this, even though it went against my own pocketbook. Plus, I don't spend that much on food. It seems to me that it's better to learn frugal grocery shopping tips, which will save you far more than a few percentage points, than to worry about the tax.

That's why I stock up: I have lots of cabot cheddar that I got at a killer sale ($3.40/lb), plus loads of canned tomatoes that I got a Big Lots. Ditto for the 50 lb. sack of oatmeal I bulk buy.

That's why I learned to cook. As it happens, home made food is healthier, better, and--it is true--quicker than going to a restaurant or a fast food place.

Now the currency conversion fee charged by credit cards is awful. We tried to evade this a few years ago. I learned--as did many people who responded to the Times article--that Capitol One does not charge the fee. So we looked into getting their card. But their customer service and general ratings leave much to be desired.

So I called every one of our cards to inquire about the fee. Our LLBean visa (only used for free shipping from that company) had the lowest fee. I called three times to double check. I even asked if there were any additional fees that I might not know about. I was assured that there were not. We got the bill--and presto--they did have the lowest fee for currency conversion, but they also had tacked on a surcharge for something or other. I called the company to try to get the surcharge removed, arguing that the customer service reps had not informed me about the charge. No success.

We figured out that, given our generally frugal ways and the fact that our credit cards have rebates between 1% and 2%, we should just be mellow about the currency conversion charge. It is, as Mr. FS pointed out, a tiny part of the cost of the trip. We save more than the charge on the whole trip simply by buying less in the souvenir department and subbing a few picnics in a park for restaurant meals.

In other words, sometimes apparent frugality really doesn't pay. In fact, I use the term apparent frugality because it's not frugal to waste your time and drive yourself crazy when you have little chance of succeeding. Funny did the math and came to the same conclusion.

Two Frugal Recipes, Some Numbers, and Taxes

OK-it's absolutely PREPOSTEROUS*** that I haven't filed my taxes yet (for flip out of April 15 plus extension request, see earlier post). In honor of the preposterousness of the situation, I will do my topics from the end (post) to the beginning (pre).

***From George Puttenham's Arte of English Poesie (1589): Ye have another manner of disordered speach, when ye misplace your words or clauses and set that before which should be behind & e converso, we call it in English proverbe, the cart before the horse, the Greeks call it Histeron proteron, we name it Preposterous, and if it be not too much used is tollerable enough, and many times scarse perceivable unlesse the sence be thereby made very abused (Poesie, 142).

TAXES: I retrieved the file box from its hiding place, and will attempt to do them myself. I will keep you posted. Wish me luck.

SOME NUMBERS: Talbots stock is $6.96. I was looking at it at $1.80. So, I would have almost quadrupled my money! Take that, Motley Fools (who labeled it their scary Halloween stock of 2008).

Edmund Andrews's Busted has an Amazon sales rank of 22,698. Did I tell you, Dear Readers, that I was so annoyed with the New York Times ombudsperson's defense of this guy that I fired off an email. Guess what: it was published online. Sadly, under my real name, rather than my blogger identity.

FRUGAL RECIPES: I hope some inexperienced cooks take a look at Burros's books. The commenters are all pros in the kitchen. Here's an easy one.

Chicken Oreganato: Rub 2 TBS oregano with some salt and pepper on 6 chicken thighs. Put on baking pan. Mix 1/4 cup olive oil with juice of 1/2 lemon. Drizzle half on chicken. Bake at 500 (what???seems kinda high, Marian) for 15 minutes. Turn thighs over; drizzle rest of stuff on and bake another 10-15 minutes, for 30 minutes total.

Marian provides recipes for side dishes (brussels sprouts and Greek salad), but those may be too much for beginners. I would just make rice to soak up all the yummy juices and have a salad of some kind. Or even just some sliced tomatoes.

FRUGAL RECIPE LAGNIAPPE. It is in the mid 90s here. Just miserable. So I am going to make granita. Coffee granita, which has the added bonus of using up all the leftover coffee.

All you do is take 3-4 cups coffee*, 1/3 cup milk or half and half, 1/4 cup sugar. Mix. Pour into a largish glass or metal baking pan. Freeze for about 30-45 minutes. Stir around with a fork to break up ice crystals. Return to freezer and repeat a few times.

*You're supposed to use espresso, but I'm going to stick to my coffee and chicory.

Maybe this concoction will see me through the misery of my taxes.

Death and Taxes: Meditation and Confession

An embarrassingly predictable and prosaic title, it is true.

First DEATH.

Since my father died 5 months ago, I check the obituaries each morning on the New York Times website. I'm not really interested in who died. But there is a general feeling in my family that my father was cheated out of his lifespan. He was 80, it is true, but his father lived to be 99 and his mother lived into her 80s.

He wasn't sick. In fact, he was hale and hearty, a very tall, big, LOUD, talkative fellow who had gone to aerobics that morning. He died while watching a movie on television with my mother: he said "My head hurts" and "That's Tom Hanks." A blood vessel had burst in his brain. I guess he really died a few days later, about nine hours after we had the life support turned off.

Reading those obituaries increased my sense of unfairness. So many 98 year olds! Even 88 year olds! Today, I saw that Eve Kosofsky Sedgwick had died. She was a very famous literary scholar. Her most famous work is called Between Men and it is about homosocial (as distinct from homosexual) desire. This is something of a development of the work of Rene Girard, Deceit, Desire, and the Novel, which is about triangulated desire.

The point here, looked at in the context of literary works, is that the relationships that count often are not the ones between men and women, but rather those between men. The men are battling it out for honor, prestige, or whatever. Just read the beginning of the Iliad and you'll know that is true.

I didn't use Sedgwick's work too much in my own teaching or studies. But I've got to say that it helped me understand the dynamics of my own little world at work. Thank you, Eve Sedgwick. You were only 58. You definitely didn't get the lifespan you deserved.

Now for TAXES.

Yes, it is April 15. I've always done the taxes, though in a very time-consuming, inefficient, and probably costly way. I even did the taxes for Mr. FS before we were married.

But this year, I can't finish. What pushed me over the edge was the fact that I had to cash out the UGMA accounts I established for my children. I put in about $3000.00 for each of them. Ten years later, that's about what was left. TIAA instituted fees for accounts with low balances, so, to avoid the fees, I cashed out. This was lucky because it was right before the really big stock decline. (Too bad I didn't cash out of my bigger accounts at the same time!).

Anyway, I have no idea how to do this--gain, loss, what is it? Frugal Son also earned $1200.00 last year. I told both kids I would figure out how to do the taxes for them.

While I was flipping out about this, I neglected my own taxes, which involve only slight complexities--a little self-employment income for each of us. Since paying off our house, we don't even do a long form.

A five minute computation indicated that we will be getting a refund. I do this every year, and I am always right within $50.00. Nevertheless, I have to slog through the forms, which takes hours. Even though I like doing computations, I am disorganized.

So--extensions for all! I am thinking of sending in a small check for each child just in case a small amount is owed.

Dear Readers: Please say it's OK for me to get an accountant! Mr. FS has been begging me to do this for years. And--how does one find an accountant anyway? Help.