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Every time I Think I'm Getting Ahead..... Something Happens

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AngliaGT

AngliaGT

Great Pumpkin
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It was about 95 degrees today,& it's supposed to be in the
mid/high 90's the rest of the week. Yesterday,our A/c quit working.
Turned out to be the capacitor on the furnace.Part cost $219 (+).
The tech told me that the capacitor ($222) is slowly going on
the A/C unit,& the R422b freon will need to be recharged ($1300!).
He also told us that a new A/C /furnace is about $7500.
Then there's the Dodge Dakota I recently bought.I've put close
to what I paid for it,so hopefully nothing else will be needed for a while.
We also received a small inheritance from my Mother,but hate to
see it go to just pay off bills.It'd be nice to put it away into savings instead.

Does anyone know what the taxes are on an inheritance?
 
Lots of variables here. You're a resident of Virginia, and laws differ among all the states. I'm pretty sure the first $11 million in estate value isn't taxable at the federal level, and there's no federal "inheritance" tax.

I've never inherited anything in my entire life, so never had to worry about the taxes. Never could afford whole house a/c, never bought a pickup, so have no experience there.

Sometimes I envy those who have inheritances which are taxed!
Tom M.
 
Last year I replaced the capacitor on my AC unit - bought at a local electronics shop and I think it was in the $30-40 range - and very much a DIY project
 
JPSmit said:
Last year I replaced the capacitor on my AC unit - bought at a local electronics shop and I think it was in the $30-40 range - and very much a DIY project
Click to expand...

That sounds a little more like it.
 
Doug - why not order the replacement parts yourself, and do the work? Saves a bunch of money for sure.

Tom M.
PS - just call Virginia Dept of Revenue, and get some details on the inheritance situation. You're fortunate to receive it, so might as well get the facts rather than rely on hearsay.

https://www.tax.virginia.gov/
 
JPSmit said:
Last year I replaced the capacitor on my AC unit - bought at a local electronics shop and I think it was in the $30-40 range - and very much a DIY project
Click to expand...

Yep. We've replaced several here. Overpaid Grainger a couple times, just to get a unit up-and-running quickly. Google the cap part number and I'd bet you could find one for MUCH less than $200.
 
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