ScanSnap Scanner S510
I purchased the SnapScan S510 Scanner  about 2 weeks ago and it is great. So far I have scanned in 30000+ pages of text into the pdf file format. The scanner software allows all of the text to be searchable. So, if I need an invoice from March 2008 I can search on that and up comes all documents related to that date. I have emptied out one filing cabinet and I plan on emptying 5 more. 10000 pages of text has taken about 500 megs of space which isn’t much at all if you think about it. The scanner does jam once in a while, but it is easy to clear and it allows you to pickup where you left off. I would recommend getting one of these scanners if you have a ton of paperwork which you need to have access to without all the storage hassles.

If you have an older TV that can’t get the new digital signal you can get a coupon from the government.

This coupon is to pay for a box that will allow your old TV to work with the new over the air digital signal.

Each household can receive up to 2 coupons at $40 each which must be used to get the box to decode the signal.

The government estimate that the boxes will cost somewhere around $50 to $70 per box.

The coupons must be used within 90 days of the date they are mailed to the consumer.

There converter boxes won’t be needed for about a year and aren’t necessary for TV sets containing digital tuners, also called ATSC tuners. These tuners have been installed in TV sets since 2004.

Converter boxes aren’t needed for people receiving their television from cable or satellite providers because their boxes already descramble the signal.

These boxes are only needed on analog TV sets that depend on free over the air signals.

I am not so sure that the government should be supporting TV watching, but on the other hand they are the ones responsible for people not getting to use the TV sets they already purchased because of the new signals.

My accountant called me the other day and requested our paperwork. I currently own 3 businesses and it is a real chore getting all of the information together for the IRS.

Tax Tools:

H&RBlock
Turbo Tax
MSN Money Tax Tools

For Business:

I have to do a an inventory for 1 of my businesses which takes at least 8 full hours of my time. I need to print the balance sheets and profit and loss statements for all 3 companies. 2 businesses go through a C corporation and the other business goes through my schedule C which is attached to our 1040 Federal Income Tax.

For Personal:

We need to get together our vehicle tags, mortgage interest, health care payments beyond our insurance, interest income,W2′s, charitable contributions, property purchase and sale documents (we bought a new house this year and sold a condo investment). I also have to get the information together for my internet income and the accountant will put this information through a schedule C which goes through our 1040 Federal Tax form. Schedule C is where you put all of your sole proprietor income and expenses. The other businesses go through a C corporation.

It is amazing that it takes so much time to get this information together for the local, state and federal government. Not to mention payroll taxes, sign taxes, usage sales taxes for state and for city. We do most of these taxes in house. At the end of the year we provide all of this information to our accountant and he fills out all of the necessary forms. He also lets us know if we forgot anything which saves us money. I have an accounting degree, but I don’t have enough time to keep up on the tax code, and like a lawyer(only a fool represents himself).

Just purchased a new car for my wife.

We had been looking at a Toyota Matrix and a Honda Fit Sport.

The Toyota Matrix gets 25 mpg city and 31 mpg highway.

The Honda Fit gets gets 27 mpg city and 33 mpg highway, although the window sticker says it is higher. These numbers are from Kelly Blue Book.

The Toyota Matrix didn’t feel as zippy(quick) as the Honda Fit even though the Toyota Matrix has more horsepower, 126 for the Toyota versus 105 for the Honda.

The Toyota Matrix cost $21,000 dollars and the Honda Fit cost $18000.

They both have good cargo storage and they both have 4 doors. These are 2 of the requirements my wife had.

I was a tough 4 hour ordeal, but we finally got a great deal. The dealer started at 19,500 plus payoff difference on the old vehicle (Ford Escape). I managed to get them up to middle book on the old vehicle and to get them down on their price. The Kelly Blue Book trade in value on the Ford Escape was $4555 and we were able to get them to $4675 less our payoff of $4150. The dealer really wanted the Ford Escape for resale, at least that is what they told me. So we ended up getting the Honda Fit for $18,000 out the door. The Ford did have a couple of problems with the sensors on the dash. We had it evaluated by a garage and they said it would cost $800 to fix. The sunroof was also broke which would have cost another $800 to fix. We ended up getting a good deal and we used our Amex Blue Card to get some cash back on the deal.

Be careful to play the dealer game carefully. They try to get you to your magic payment and to commit. This didn’t matter to us. We could have paid cash for the car. We wanted the best deal possible.

Dealer Salesmen are trained to size you up, ask you questions, and squeeze all the information they can in order to get you to say “Yes”. (If I can get you this deal will you buy it today?) So be careful. If you’re the loose lipped type, then practice being the one to ask the questions. Just because they ask a question doesn’t mean you are obligated to answer. Remember that no matter how charming and friendly the dealer may appear to be, it’s more important to save money than make a friend of the dealer.

See this article on how we made our down payment

Down payment on Vehicle

What do you think of the deal or of the Honda Fit? Please comment.

1. Treat your savings accumulation like a bill, and pay yourself first.

Before paying those bills make sure you pay yourself first. 10% is a good place to start. Increase it as often as you can to retire in the lifestyle that you would like.

2. Take full advantage of retirement accounts.

Tax free retirement accounts are the closest thing you can get to free money. You get to build your savings in tax deductible or tax deferred retirement accounts. A 401K when matched by an employer really amplifies the affect of this retirement savings plan.

3. Automate your savings

Setup a direct deposit from your paycheck to your savings account. You won’t even notice the money missing from your account after a while. The money comes out before you can consume it by buying Latte’s. See the Automatic Millionaire blog entry.

4. Create other sources of income

Get a side job. Find something you like to do on the side and make money at the same time. You really don’t want to waste time watching another rerun of The Simpsons do you?

5. Use windfalls and raises to save and pay down debt.

When you receive a windfall from a tax return of from a raise pay down your debt and/or put money into savings. You won’t miss it because you never received it in the first place.

6. Use Coupons

I personally use coupons to OfficeMax/Office Depot al the time. I get $10 off $50 spent on office supply products. There are hundreds of ways to save money using coupons. When your doing some home renovation look for coupons from Ace, HomeDepot or Loews. When we moved into our new house Loews sent us a $100 off coupon. I was amazed. If you are going to buy the products anyway you might as well save money doing it.

7. Cut down on impulse buying and avoid buying unnecessary stuff.
Do you really need that X. Wait a day or 2 and think whether you really need that thing you thought you couldn’t live without.

8. Reinvest interest and dividends from investments.
A painless way to beef up your investments is to reinvest any interest and dividends and give your investments a chance to build.

9. Request a lower income withholding from your paycheck
Look at the past year and see if you paid anything in taxes. If you didn’t pay any taxes your withholding may be set too high. Lower your withholding and take the excess money that you would have paid and put that money into savings or debt reduction. If your withholding is too high you are giving the government a tax free loan for the year. You might as well take the money and use it to your advantage.

First off lets talk about what a pet can do for you. Ask anyone and they will tell you that a pet is part of the family. Over half of US households own one or more companion animals — dogs, cats, birds, fish, reptiles, pigs, hamsters and the like. In this article from Pedigree they discuss the benefits of owning an animal and then I will discuss the costs of owning an animal.

Pedigree

Did you know your dog could help you live longer?

Tests have shown that owning a pet can help people attain a better level of physical and mental health. For example, petting your dog can lower your heart rate and your blood pressure, and even promote healing. Following are a few of the gifts sharing your life with a dog gets you — not just on Valentine’s Day but all year round.

Lower stress levels and a healthy heart

Petting and spending time with your dog can sooth you and help you relax, causing your heartbeat to slow and your blood pressure to drop. Research has shown that this reduction is particularly noticeable in people who suffer from high-blood pressure.

Your dog can reduce stress in all areas of your life. Amazingly, studies of women undergoing stress tests have demonstrated that the presence of a dog had more effect on lowering blood pressure than the presence of friends. Also, recent studies show that having pets at work lowers stress levels and makes employees more productive.

Research has also shown that dog owners who have suffered a heart attack had a better survival rate one year after the heart attack than people without pets. Whether the health benefits of sharing your life with a dog are the result of your bond with your dog or the extra exercise you get through walks and visits to the park isn’t clear, but does it really matter? It just goes to prove what dog owners know intuitively — their lives are richer because they share their home with their dog.

Now lets talk about the costs of owning a pet:

Here is a pet cost calculator:

Pet Calculator

First there is the cost of the animal, anywhere from $75 at your local animal shelter to $1,000 or more for a rare pure-bred animal. Then there is the initial cost of spaying and neutering, $50 – $100 and first shots at $75 – $150. Yearly you can expect to pay around $100 – $200 for shots, pest medications and tags. I have healthcare for my dog and it costs $250 per year and it takes care of his medications, doctor’s visits and major medical work.

Before you get the new pet home, you need to stop for food, toys, a bed, a collar, leash, dog house, etc. Food only runs about $4-5 a week for a puppy, but an adult can cost up to $10 a week for a small dog, and $15 or more a week for a larger dog. Cats, regardless of age, can be fed for about $4 a week, but don’t forget the added cost of litter and litter boxes.

In the last few years, the popularity of pet insurance has been on the rise. The average pet insurance policy will run about $250 a year, which may sound high until you realize that one overnight stay at an emergency vet clinic could easily equate to $500. In fact, Americans spend about $11.1 billion on veterinary medicine each year, according to the American Veterinary Medical Association.