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  1. #81
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    Quote Originally Posted by Jonny View Post
    Location location location. I live in San Francisco, and currently drop $1,700 per month on a 300sqft studio. Homes here, as DiscoBiscuit's chart illustrates, are outrageous, thanks to the internet millionaires that fill the area. I don't think I'll be comfortable until I'm making maybe $150k per year in today's dollars.

    However, were I to live somewhere with reasonably priced real estate, I'd say $70k would be comfortable.
    Don't worry.

    Once the app bubble bursts, things should tame down a bit.

  2. #82
    No moss growing on me Giggly's Avatar
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    Quote Originally Posted by DiscoBiscuit View Post
    Any business has to be created with the intention of making a profit not with the express purpose of being a tax shelter.

    But, as long as the business exists to be a real business, you can deduct most things involved with furthering that business.

    Operating in good faith as a business is kind of assumed.
    It is only assumed if you make a profit in at least 3 of the last 5 tax years. Otherwise, it is considered a hobby and your business expenses can not be deducted.

  3. #83
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Giggly View Post
    It is only assumed if you make a profit in at least 3 of the last 5 tax years. Otherwise, it is considered a hobby and your business expenses can not be deducted.
    Ah, thanks Giggly. I supposed there was a similar law in the US (there is one in Europe).
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    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Jonny View Post
    Location location location. I live in San Francisco, and currently drop $1,700 per month on a 300sqft studio. Homes here, as DiscoBiscuit's chart illustrates, are outrageous, thanks to the internet millionaires that fill the area. I don't think I'll be comfortable until I'm making maybe $150k per year in today's dollars.

    However, were I to live somewhere with reasonably priced real estate, I'd say $70k would be comfortable.
    300 sqft is just enormous, at least for my european standards. 1700 per month seems completely fine.
    ENTj 7-3-8 sx/sp

  5. #85
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    Quote Originally Posted by FDG View Post
    300 sqft is just enormous, at least for my european standards. 1700 per month seems completely fine.
    You consider 1700/month cost being completely fine? Is that normal rental prices in your area?
    "...On and on and on and on he strode, far out over the sands, singing wildly to the sea, crying to greet the advent of the life that had cried to him." - James Joyce

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    Quote Originally Posted by FDG View Post
    300 sqft is just enormous, at least for my european standards. 1700 per month seems completely fine.
    Quote Originally Posted by cascadeco View Post
    You consider 1700/month cost being completely fine? Is that normal rental prices in your area?
    I'm more shocked that he finds 300 sq ft to be enormous...

    I think my place is 800-850, and it felt too small for two people.

    FDG, are you sure you're not making an error because of the metric system?

    300 sq meters would be something like 10x as big as 300 sq ft, which might make your comment make more sense...

  7. #87
    No moss growing on me Giggly's Avatar
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    Quote Originally Posted by FDG View Post
    Ah, thanks Giggly. I supposed there was a similar law in the US (there is one in Europe).
    You're welcome.

    Here is some info for those who are interested.

    http://www.nolo.com/legal-encycloped...ess-30000.html

  8. #88
    4x9 cascadeco's Avatar
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    Quote Originally Posted by Zarathustra View Post
    I'm more shocked that he finds 300 sq ft to be enormous...
    Ha, yeah, originally I was confused on both statements, but, I do know european apartment standards ARE much much smaller than here in the states, so was giving benefit of the doubt...
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  9. #89
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    Quote Originally Posted by Jonny View Post
    Location location location.
    So true. Like Disco's chart shows, housing prices make a staggering difference. I'm looking to move from a very reasonably priced housing market (St. Louis) to a rather expensive one (Vancouver). In my case, the effect is mitigated somewhat by the fact that I also want to minimize - I'm looking forward to changing from a single-family house w/yard to a small urban apartment. But even so, I'll almost certainly be paying a lot more in rent there than I pay for my mortgage/utilities/principal reduction here.

    Honestly, I think my "comfort" number here in St. Louis is quite a bit higher than a lot of folks have mentioned. Probably around 75k. I worry a lot about retirement, and am not "comfortable" unless I'm saving a pretty high percentage of my earnings for that purpose. So while I don't need that much to live on day-to-day, it all adds up. I really don't know where the money all goes... I spend a lot on food at the grocery store, have a pretty expensive gym membership, etc. but other than that my needs are pretty small.

    And yet, I'm not rolling in money, even though I make more than 75k. It's a little hard to tell, as over the last year I've spent a lot (closer to 10k than not) on preparing for my pending move, which isn't exactly a regular expense.

    Honestly, I wouldn't say "comfortable" unless it was optional. If I could afford to retire now (not that I would, but if I could *afford* to), I'd say I'm comfortable. Until then, not so much.
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  10. #90
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Zarathustra View Post
    FDG, are you sure you're not making an error because of the metric system?

    300 sq meters would be something like 10x as big as 300 sq ft, which might make your comment make more sense...
    Lol, yes I am, sorry! Thanks for clearing it up. I too often forget about the different system in the US. So 300 sq ft is 28 m2. Then yes, it´s indeed very pricey. I guess, in my area, you would pay 400/450 dollars a month for a 28 m2 apartment.
    ENTj 7-3-8 sx/sp

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